CHARLOTTE, N.C. (QC Life) - Bernadette Joy, financial educator and author of “Crush Your Money Goals”, joins QC Life to talk about the three types of savings every woman needs. Nearly half of women in the U.S. don’t have an emergency fund, and women are more likely than men to struggle to cover even a $400 unexpected expense.
First is the Cash Flow Cushion, your day-to-day buffer. This money lives in your checking account so you’re not stressed between paychecks when normal life expenses pop up, like groceries, bills, or a last-minute need.
Next is the Keep Calm Fund, your life happens money. This is not your checking account, and it’s not invested. It should sit separately in a high-yield savings account, ready for bigger disruptions like job loss, medical expenses, or family emergencies.
Finally, the Roth IRA as a key tool for building long-term wealth. With a Roth IRA, you invest money that’s already been taxed, and it can grow tax-free. That means in retirement, you can withdraw those funds without owing taxes.
To learn more visit crushyourmoneygoals.com and follow @bernadebtjoy.
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