Show 94 - Building a Financial Reservoir the Easy Way with Kim Butler
In this episode, I discuss the no budget way to build an emergency/opportunity fund.
10/1/20251 min read
Paying yourself first can be hard because you have to take some of your spending money and put it aside. But what if you took some of your saving money ad put it aside to spend instead? I know this is a hair splitting distinction, but sometimes that is all it takes. In this episode Kim Butler and I discuss the easy way to start building your emergency/opportunity fund at a prodigious rate with a simple flip of the narrative and the flow.
Show Notes
Get Kim's PDF resource
My Money Tracker Spreadsheet
Recommended Books (Amazon Affiliate Links)
The Richest Man in Babylon
Key Ideas
Traditional budgets often fail for teachers because life happens.
You can build a $10,000 emergency fund with confidence using the reservoir method.
Savings are to pursue opportunities, not just retirement
You might want to rethink retirement and to find purpose beyond age 65
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
While budgeting isn’t necessarily necessary for this method, I still recommend it. A budget is you telling your money where to go. And the better you get at it, the more money you have for your emergency/opportunity fund. You can start with this method, but don’t end there!