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Finance Tip of the Day

How to Build Up Liquid Assets?

  • 2016 5 Jul
  • COMMENTS
How to Build Up Liquid Assets?

mvelopes

How to Build Up Liquid Assets?

You’re considered “liquid asset poor” if you have fewer than 3 months of livings expenses easily accessible. If you faced a complete income loss and had to depend on what you have saved, would you be able to “make it” for a minimum of 3 months? If the answer is no, here is a quick, step-by-step plan to work toward. This plan will require having a solid budget where your expenses, especially your wants, are curbed and, in many cases, temporarily sacrificed in order to grow your liquid assets.

-      Save $1000 in cash for immediate emergencies
-      Save 30 days worth of your living expenses
-      Save 60 days worth of your living expenses
-      Save 90 days worth of your living expenses

Today's tip brought to you by Mvelopes and Money4Life Coaching.


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