Show Notes:

• Pay yourself first (via direct deposit)
• Save more than you can afford to (you can always transfer it to checking)
• Create a $1000 emergency fund and why that number
• What happens if you need more than the emergency fund
• Start with something no matter how small
• The emergency fund helps you avoid going into (more) debt
• Make it automatic so you can’t sabotage yourself
• After you have an emergency fund save more incase you suffer job loss
• Learn how many months you need to save if you were to be downsized or fired
• 3 months if you are in a high demand field to 6 months if you are in a low demand field
• Figure out if you need your gross or net pay saved up
• Difference between gross and net pay
• Keep saving money until you have what you need to feel secure
• 10/10/80 Rule – move toward living on 80% income, 10% into savings and 10% to help others or give to charity you want to support
• How does putting my money in a retirement fund work with the 10/10/80 rule
• If your employer does 401k matching work on matching that as fast as possible (it is free money)
• How employer matching works and how to not lose free money
• It may take years to do this and that is totally ok because there are a lot of bad habits to change