Slush Fund

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Emergencies. Sh*t. It happens. Be ready.

Rounding it up

  • Set up a slush fund so you have some cash to buffer unanticipated spikes in spending, whether it’s an emergency or an event.

  • How much you should put into your fund depends on your income, what you’ll count as an “emergency” expense, and whether you have a financial backup plan.

  • If you’re working towards paying off debt, set up a smaller slush fund.

  • Put your slush fund into a high-interest savings account, so your financial cushion can grow over time.

5 min read

Silvi Woods
#saving#emergency fund#debt#finances

Silvi Woods

Silvi Woods is a financial planner at Wealthsimple and holds her CFA and CFP designations. Prior to Wealthsimple, she worked as an Investment Analyst for one of Canada’s largest equity mutual funds and as a Financial Planner at KOHO.

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