Week 27 (Day 3): Emergency Fund and Contingency Planning

Risk Management and Insurance
Written By Brandy Sparkman

Day 3: Understanding Emergency Fund Basics

  • Take Action

  • Helpful Tip

  • Free Resource

Week 27 Day 3 Action Plan

Today, let's explore the fundamental concepts of Emergency Funds, understanding their importance and how they act as a safety net for your business during challenging times.

Take Action: Mastering the Basics of Emergency Funds

  • Familiarize yourself with the purpose and significance of an emergency fund.

  • Identify the optimal size and structure for an emergency fund suitable for your business.

Helpful Tip:

  • Start small but start today; every bit in your emergency fund counts.

Free Resource:

Stay in Touch

What are your total operating expenses and could you cover them for an entire month? Two months? Three months?

Until tomorrow, happy financial management!

 
Brandy Sparkman
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Week 27 (Day 4): Emergency Fund and Contingency Planning
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Week 27 (Day 2): Emergency Fund and Contingency Planning