When to Use the Fast Cash?
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
15 min
3 speakers
4 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show.
Welcome back. Ladies and gentlemen, you're listening to another edition of DIY Money.
DIY Money. A Howard in the house. Q and A. That's what I'm talking about. Very distracted in this moment. Why are you distracted? Because for those who watch the video, which this one's not video, but there is a fake plant that sits behind us and it is constantly hitting me in the head.
So you just did that. I just got made fun of in a break for looking at the camera every time, even though we're not rolling. I'm doing it right now.
I was looking at Logan, not the camera. And you were? I don't think you were. He wasn't paying attention to me.
Anyways.
Logan, hello.
Check us out on YouTube is what we're trying to say because we put these shows on there now. And hopefully we've showed up in your Insta reel. Is that a thing? Insta reel? I don't know. I had to delete Instagram again. So I've tried Instagram. I try to get into it. I went down. My algorithm this time was pretty fire, though, because it was a combination of running and cooking. And that was awesome. So it was like all these great things. I had like all of a sudden within a week, I had 57 recipes saved. Everything from crock pot to like, you know, I don't even know how to make the greatest cowboy butter. I don't even know what that is, but it looked amazing.
What?
I haven't made a single one of them. But anyways, my battery life, it was either Apple is telling me I need a new phone, which I refuse to do, by the way. My battery life is just absolutely on the decline. So I deleted Instagram and a few other nonsense apps that I didn't have.
You're a Facebook guy.
I am a Facebook guy. I don't post. You post a lot on. I do? I don't feel like I post a lot on Facebook. I'm in the tribe. Oh, I feel like you do. I mean, the tribe is different. I don't feel like I post a lot on Facebook. I'm tagged in a lot.
Maybe that's what it is.
My wife is, you know, she tags me here or there and everywhere. So, maybe that's it. And you're into this book club. No, I like the Facebook. It's my generation. I mean, I'm still, I'm kind of quasi-boomer, right? I mean, I'm about to be 48, A. Howard. 4'8". When's your birthday? August.
Oh, okay. So, you got some time.
Mm-hmm.
Yeah, and I feel 28. That's all that matters. That's what I'm talking about. Yeah. Yeah. All right, let's roll right into this first. Keep the questions coming. All questions that you hear, someone has sent us an audio recording. It's real easy to do. Hop on your phone, click the voice memo, record your message, and then email it to podcast at diymoney.org. That's podcast at diymoney.org. If we use it on the show, we'll send you a $25 Amazon gift card. So we need to keep those questions coming. It's fantastic. Welcome all new listeners, by the way. Our numbers just continue to grow. That's exciting to me. Share it with a friend. I think people are really enjoying the podcast, certainly this year more than ever.
So that's great. We got a question from Willie today. Willie, what do you got?
D!
Hi guys, Willie from Minnesota. Wondering about how you guys decide when to use your fast cash as you're paying off debt. We had a $1,400 car repair. We have $1,000 fast cash. So part of it's going to end up on a credit card anyway. Wondering if it makes sense to roll into... kind of the debt snowball or just start over on getting the fast cash built up and pay off as much of it as possible. Thanks guys. Keep up the great work.
Okay, Willie. Uh, so just for those people that are listening and might be like, what's he talking about? Maybe you're new to the show. We advocate a thousand dollar fast cash as kind of step number one in the process of getting on a DIY money lifestyle. Uh, And that is just simply making sure you have $1,000 stashed away, literally in cash, for those short-term emergencies that you can just go to, use the capital, be done with it, set of tires, which are going to cost you now all of the $1,000, which is crazy, or some HVAC unit or whatever it might be.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:01–8:45
2
What is the episode's question about using a $1,000 fast cash emergency fund?
8:45–12:37
3
How do Quint and Allie define the $1,000 fast cash and its purpose?
12:37–14:09
4
When should you use fast cash versus charging an emergency to a credit card?
14:09–15:00