Is this really a rainy day? When to use your cash emergency fund

Your cash emergency fund, or rainy day fund, is an essential component of financial planning

Conventional wisdom tells us to keep 3-6 months equivalent essential expenditure in cash.

But when is the right time to use your emergency fund? How do you know when it’s a rainy day and when it’s just a little cloudy.

Coming up in this video, how to tell if it really is a rainy day.

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0:00 Cash emergency fund
1:06 Back to basics
3:36 When is the right time?
5:54 Real-life examples
6:43 Make a list
9:55 Building it back

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Martin Bamford is a Chartered Financial Planner, Fellow of the Personal Finance Society and Director of Client Education at Informed Choice.

He’s author of three bestselling personal finance books:

The Money Tree: https://amzn.to/2HE1Pm9


Brilliant Investing: https://amzn.to/34xIdZJ

How to Retire 10 Years Early: https://amzn.to/2HEtxPq

Martin is a co-author of Harriman’s New Book of Investing Rules: https://amzn.to/3oz6KFJ

Martin is responsible for investment management research at Informed Choice and is our media spokesman. He is the host of the popular Informed Choice Radio podcast: https://icradio.co.uk/

Listen on Apple Podcasts: https://itunes.apple.com/gb/podcast/t...

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We help people just like you find answers to the big financial questions, making sure you can live a meaningful life as a result.

As an award-winning firm of Chartered Financial Planners working in Cranleigh and Petersfield, we know a thing or two about Independent Financial Planning.

Our team of Financial Planners use their knowledge and experience to deliver impartial and unbiased independent financial advice which will remove stress, bring your goals closer and deliver real financial security.

Website: https://icfp.co.uk

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Informed Choice Ltd. Authorised and regulated by the Financial Conduct Authority.

The guidance contained within this video is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

The value of your investments and the income from them can go down as well as up and is not guaranteed at any time. You may not get back the full amount you invested. Past performance is not a guide to future performance, nor a reliable indicator of future results or performance.

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