Asked by: Generosa Cuadrado
Asked in category: personal finance, retirement planning
Last Updated: 3rd Dec 2022

Dave Ramsey will tell you where to place your emergency fund.

ANSWER: It is best to put it in a money-market account. You should never place your emergency fund somewhere that could decrease in value. Your emergency fund should not be placed in a way that will penalize you for taking it out earlier, such as a CD.

You may also wonder where to put your emergency funds.

These are the four best savings vehicles to help you save for an emergency fund.

  1. High-Yield Savings accounts
  2. Money Market Accounts
  3. Certificates of Deposit (CDs).
  4. Roth Individual Retirement Account (IRA).
  5. A Multi-Faceted Approach is an option.

How do I make an emergency fund Dave Ramsey? A large pile of cash in your emergency fund will help you relax.

There are four easy ways to quickly build your rainy-day fund.

  1. You can sell something. This is what you probably expected.
  2. You can find one-time income opportunities.
  3. Find a second job.
  4. Reduce your spending.

You might also ask: How much should my emergency fund be Dave Ramsey?"

Dave explains the rules for a baby emergency fund. ANSWER : If your household income is less that $20,000 per year, it should be less $1,000.

What amount should I keep in my emergency fund for?

The size of your Emergency Fund will depend on your lifestyle, monthly expenses, income and dependents. However, it is a good rule to save at least three to six month's worth of expenses