Have you got an emergency fund – money tucked away somewhere if your income stops for some reason?
No?
Let’s change that, starting the moment you sign up for my one-hour workshop on how to build an emergency fund.
The bedrock of financial security is knowing you’ve got money to pay your essential living costs no matter what happens. But according to the financial health check I’ve been running since Sept 2022, 26% of ELT professionals don’t have that safety net.
An emergency fund gives you stability and security no matter how unstable or insecure life gets. It means you can relax if something goes wrong because someone’s made sure you’ll be OK.
That someone taking care of you is YOU.
Does your employer care if you’re suddenly out of work and have no income? What about your best client?
Honestly, they couldn’t care less.
If they need to drop you they will.
You can only rely on YOU to really take care of you. And building an emergency fund is part of that.
I see posts every week in ELT groups from people who’ve suddenly had the rug pulled out from under them and have no work.
And then there are posts from freelancers who’ve had a sudden health scare that means they won’t be earning for a while but have no financial safety net in place. It’s a terrifying situation and it could happen to any of us any moment.
But I don’t think I need to convince you WHY you need an emergency fund. We all know that, deep down. But …
… maybe you don’t have an emergency fund because …
- you don’t know how to calculate how much you need.
- you have general savings so that will do.
- you just haven’t had the time or mental bandwidth to sit down and sort it out.
- you don’t know where to put it.
- you hate “money stuff” and would rather just not think about it.
- you don’t earn enough to save into an emergency fund.
- the name “emergency fund” gives you hives.
Calculating the amount I’d need and setting a goal for the emergency fund was quite eye-opening and she got me thinking about where to hold it so it’s not just sitting there which will pay off. I’ve also come away with a set of steps to work through. Very practically useful.
Nick Bircham-Bardury, Data Expert, BB Analytics
A mini-workshop to set up your emergency fund
My one-hour workshop is the hour where you solve all those obstacles or myths you tell yourself (for example, general savings aren’t the same as an emergency fund!) You’ll get that emergency fund sorted, once and for all.
- I’ll help you make it less scary and less hassle because we’ll
- calculate how much you need there and then.
- You’ll structure a way to save into it without making your life miserable, no matter how low your income is right now.
- You’ll find a place to put it where it actually earns money!
- You’ll unpick the money mindset blocks that have stopped you setting money aside in the first place.
The webinar on Emergency Funds has given me a taste of how one can have comprehensive, easily applicable knowledge about all things money related from Nicola. Although, I am not yet at a stage to take on a full course on investing but this webinar def. provides a taster.
Dr Amina Douidi, DEI and Intercultural Communication Consultant
Workshop details
It’s a recorded workshop that will take you under 60 mins to complete and you can watch anytime.
Price: 37€**.
**The cost of the mini-workshop is fully redeemable against the price of the chilled investor, beginner investor course.