How to Build Up Liquid Assets?
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.
Originally published September 27, 2018.
