Episode 446
Prior to moving from Nevada to Indiana we took a life insurance policy loan and let that money sit in our checking account because we expected to have some "unexpected" moving expenses. The money sitting in our checking account was our cash cushion.
We talk about the "unexpected" expenses that arose
02:34 Video footage of our moving caravan
How we paid for those unexpected expenses to recover our capital sooner
The best place to keep a cash cushion
How to build a cash cushion and
How to replenish a cash cushion
Moving is one scenario that illustrates the importance of having a cash cushion but there are other scenarios where having a cash cushion gives you freedom, and peace of mind. What scenario can you think of where it would be helpful to have a cash cushion?
Resources For you:
The Wise Man Foolish Man card game, buy it here: https://amzn.to/41iOTGE
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Published on 2 years ago
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