Logan (host)
speaker
185 appearances
4 recordings
1 series
first heard Dec 2024
last heard 22 Oct
Logan (host)’s voice in public audio — every appearance, attributed to the second.
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Where does that get applied?
Step one, $1,000 of fast cash.
So this is money.
A lot of the time we say actual physical cash.
If you have a place in your house that's secure where that can go, that could be taken out very, very quickly and utilized very quickly.
This $1,000 is going to be set aside for what we call small emergencies.
So these are the tiny emergency, not tiny for some people, but smaller-sized emergencies that can come up throughout the month, whether that is new tires on the car.
Like, okay, you're going to go have to spend $700 on new tires on the car that comes up.
You might have a medical bill that comes up that you're going to have to now spend some extra money on, or you had to have a visit that you weren't expecting.
So some of these smaller-sized emergencies are the fast cash that you need that needs to be set aside, put into potentially a safe or something like that.
Now...
When you're developing these first couple of areas, it doesn't just have to come from your monthly cash flow minus your monthly outgo.
Another way to just create kind of instant margin or instant cash, look around your house.
I mean, we have great opportunities now where you can throw things on Facebook Marketplace, you can throw them up on eBay, and you can sell some of the things that you have sitting around to
probably never use.
My wife and I are actually going through this process right now.
We try to do it once a year where we're just taking everything out and we're saying, do we use this anymore?
And if we don't, well, let's throw some of it on Facebook Marketplace.
Let's donate some of it and potentially fill back up that fast cash bucket to give yourself $1,000.
That's the first main step, setting aside money.
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