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Episode 3703:
Leo Babauta explains why he started keeping a larger cushion in his checking account instead of running it down to near zero every month. He describes the security it creates on top of an emergency fund, and how a cushion big enough to cover the bills lets you pay all of them at the start of the month instead of chasing them paycheck by paycheck. He then walks through the practical steps for getting there, from cutting expenses and budgeting to saving money little by little and parking any windfall in the account.
Read along with the original article(s) here: https://zenhabits.net/simple-finances-how-and-why-to-build-up-a-cushion-in-the-bank/
Quotes to ponder:
"It makes more of a difference than you might think."
"There is real value in being able to pay all your bills at once and not have to worry about it for the rest of the month."
"It's important that for the purposes of spending, you pretend that cushion isn't there."
Optimal Finance Daily is a daily personal finance podcast where we narrate the best articles on financial independence, investing, saving money, and money management, read to you by a professional narrator so you can grow your wealth a little more every day.
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