[00:02] emergency fund plus any short-term savings goals, and that's it. Because every dollar above that is quietly costing you money for three reasons. So, the first is that big balances make you spend more. Researchers actually tracked
[00:15] 400 grocery shoppers and found that those with bigger excess balances, they walked in with a plan. Number two is inflation. So, $50,000 in savings at 3% inflation loses $13,000 worth of purchasing power in 10 years. For
[00:30] example, in 2019, $50,000 could have bought you 5,800 Chipotle burritos, but today that's 4,100. So, you lost 1,700 burritos by doing nothing. Number three consistently sit on money, you're going to miss out on a lot of gains in the
[00:45] $80,000 in cash waiting for the market to drop, but that was over 2 years ago, and since then the market is up 20%, and that means he lost out on $16,000 for trying to wait it out. So, what you can do today is tally up 3-6 months of your
[00:59] emergency funds. You want to add short-term savings goals to that number, and then park that amount in a high-yield account earning 3.5%. Any invest. Let me know in the comments how much you are keeping in your accounts,
[01:12] much you are keeping in your accounts, and follow me for more.