After experiencing job loss in the past, it's important to me to work towards an extended emergency fund. In this video, I talk about how to use a CD ladder to break down savings into more manageable bite size chunks.

-I opened a 1-year CD the first of every month until I had a CD to represent each month of the year.
-When each of these "time capsule" accounts reach the 1 year mark, I'll be able to put more money in...until they each have 1 month worth of expenses
-I will just keep rolling them over year-to-year...only taking the money out to cover bills for that specific month if there is a job loss

EXAMPLE: Job loss in January. Normal emergency fund savings will cover my January expenses, but then, I can pull out my February CD to cover February expenses. If I still haven't found a job by March, I will pull my March CD, etc...until I have secured a new position.

I look forward to working on my CD ladder every month. I hate saving, but this has made it exciting and fun!!

I also discuss a couple frequently questions about the CD ladder emergency funds.

Free copy of CD Ladder spreadsheet on Google Sheets:
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#debtfreejourney #cdladder #emergencyfund

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Disclaimer: Please note that I am not a financial professional. My videos are my personal experiences and not intended to be used for financial advice.

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