MMS #26 | The Rainy Day Fund, your financial umbrella for life's nasty little surprises

In this episode of Money Made Simple, join Liv and Jennie as they dive into the essentials of setting up a rainy day AKA an emergency fund. With the current economic climate bringing uncertainty for many of us, having a financial safety net is more crucial than ever. This episode covers:

• What a rainy day fund is and why it's critical for our financial security
• Practical steps about how to get started, including how to determine how much you need in your emergency fund
• Tips for setting up and managing your fund to keep it accessible yet secure
• Insights on adjusting your fund over time to adjust to life changes
• And a few thoughts about ways to get your emergency fund working harder for you, while there is no emergency

Resources we mention in this episode:
- The Barefoot Investor
- Money Made Simple book by Sam Stubbs
- Sorted.org savings calculator

By the end of this episode, you'll understand the importance of an emergency fund, how to calculate your needs based on your lifestyle, and smart strategies for growing and maintaining your fund over time. Tune in to gain the knowledge and confidence to build a financial buffer that ensures peace of mind and preparedness for any unexpected expenses.

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Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.