ilmscore | Prediction Details
"if you don't have any savings the very first thing you got to do is save $2,000 to protect you against an emergency and put this money aside in a separate Bank bank account that's there not to buy a home not to buy a car not to buy something from Gucci but to protect you against an emergency and the reason why you need to have this $2,000 per decide is because life happens it happens to every single one of us maybe get pulled over by a cop maybe something happens to your kid maybe something breaks with your car life happens it happens to every single one of us but if you're not prepared for this with some sort of financial cushion you're going to be the one that pays the price because now either you're going to have to sell out your Investments which you didn't want to do at that time because the market just happen to be crashing when that emergency happens or maybe that means you're going to have to go into credit card debt which is actually what most people end up doing when an expense comes up and you don't have the money for it now not only do you have to pay $2,000 to cover the broken water heater but then you're going have to pay an additional $800 in interest on your credit card to pay it back because you weren't prepared and that's why you want to be prepared because life happens we know this and the wealthy are working to be prepared so the first thing that I'd be doing now in the Practical steps is work to save $2,000 as fast as possible and do whatever I need to do to save that $2,000 and put it aside in a separate savings account"
By Minority Mindset | February 15, 2024 | Pending
From video
My 10 Step Checklist To Become A Millionaire 00:10:50 - 00:12:12
Interpreted Prediction
A $2,000 emergency fund is crucial to prevent unexpected life events from forcing the sale of investments or incurring high-interest credit card debt.

Prediction Details

Topic
Emergency Savings

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