How A Couple Saved $50,000 In Emergency Funds

2 Jul 2020
41 314 Ditonton

One couple was able to throw a baby shower during the pandemic because they saved enough for a full year of expenses.
Read more about Jermaine and Christina here:
#Money #EmergencyFund #BusinessInsider

Business Insider tells you all you need to know about business, finance, tech, retail, and more.

Visit us at:
BI on Facebook:
BI on Instagram:
BI on Twitter:
BI on Amazon Prime:

How A Couple Saved $50,000 In Emergency Funds

  • Stop calling it the "New normal"! If we were able to get through the 1918 Spanish Flu, we can crush china virus. Don't be sheep people

    money bagsmoney bags2 bulan yang lalu
  • There’s no other greater joy than having financial freedom and a life free of debts, all thanks to Mr Robert, cause he made me who I am today through binary trade. He has helped me a lot with his trading strategies which helps me to earn $12,550 weekly. I really appreciate it and can't help but let others know about it because it is so suitable anyone can trade from anywhere and anytime, you can reach Mr Nicholas on Instagram @nicholasjmyronfx or what sap :+1(518) 633-5966. his indeed a God sent. now i don't need to be working 9-5 ....

    Elizabeth JeffreyElizabeth Jeffrey2 bulan yang lalu
  • Made 50k last month lol

    Eduardo SalgadoEduardo Salgado3 bulan yang lalu
  • This is a stupid thing to advertise

    miss jillmiss jill3 bulan yang lalu
  • subtitles pls guys

    Saitama blzSaitama blz3 bulan yang lalu
  • It’s good to be frugal

    robert hingstonrobert hingston3 bulan yang lalu
  • no car payments and living in an apt yet they spend over $4000/month, I'm sure they'd have more cash put away if they watch were their money is going.

    Don BDon B4 bulan yang lalu
  • Smart couple

    A BbA Bb4 bulan yang lalu
  • Dave Ramsey approves 👍🏿

    Isaac Annan JrIsaac Annan Jr4 bulan yang lalu
  • Republicans still think that’s what every family should be able to do. That’s why Republicans are quickly becoming the party favored by the lowest income earners in the US where the Dems are representing the largest companies and earners (Apple, Google, Facebook, Twitter, Amazon, Hollywood, Music Industry, gaming industry is bending over, every MSM network save for Fox. Even Fox is garbage).

    Curious BunnyCurious Bunny4 bulan yang lalu
  • This people are well off, they even have money to buy a car, I don't even have a bicycle.

    Ronty TyronRonty Tyron4 bulan yang lalu
  • I don't have money in the first place, that's real emergency, what advice can you give me?

    Ronty TyronRonty Tyron4 bulan yang lalu
    • How old r u first of all that’s the most important n do u have any debts or student loans n such n such u also need to consider if u have a stable enough job to provide for ur self n/or ur family

      てぇーぉねrてぇーぉねr4 bulan yang lalu
  • Congrats

    nakedshadowsnakedshadows4 bulan yang lalu
  • Move back in with the parents, don't drive, don't go on holidays, no pubs or restaurants, keep the old phone and ware inexpensive clothes. These people are geniuses, I can save $60,000 a year if i do this. Basically have no life or material iteams and your good.

    lee macdonaldlee macdonald4 bulan yang lalu
  • student debt is one of the most scariest thing in life.

    bruhgerbruhger4 bulan yang lalu
  • Take another look at your website. We must take down AdBlockers? Are you poor?

    Pericles MoulisPericles Moulis4 bulan yang lalu
  • This is what every republican thinks the average citizen can do yet a big company worth billions doesnt make money for a few weeks and it turns into a bailout beggar since it spent all its money on high level bonuses and stock buy backs

    matt carnesmatt carnes4 bulan yang lalu
    • Republicans still think that’s what every family should be able to do. That’s why Republicans are quickly becoming the party favored by the lowest income earners in the US where the Dems are representing the largest companies and earners (Apple, Google, Facebook, Twitter, Amazon, Hollywood, Music Industry, every MSM network save for Fox. Even Fox is garbage).

      Curious BunnyCurious Bunny4 bulan yang lalu
  • They both would need to have set aside just 100$/w to do it, witch doesn't seem that much tbh especially if they say they are intentionally saving and living frugaly. As a couple you can also save a lot on housing and other utilities

    Martin-Rasmus KassMartin-Rasmus Kass4 bulan yang lalu
  • What a dumb video.

    DaltonierDaltonier4 bulan yang lalu
  • At 1:35, you can see the pain in his face, when she says "would i like to be in a different appartment, yes". This is clearly a guy, who wishes to provide the best possible to his family.

    Em1LEm1L4 bulan yang lalu
  • Lovely couple! Wish you many years of a happy marriage. Thank you Business Insider for these videos. That couple represents the minority in American middle class. Every one else is flat broke due to poor financial literacy.

    Francisco RodriguezFrancisco Rodriguez4 bulan yang lalu
  • The woman remind me of Chandler's ex-gf - Janice from Friends

    Ske3proSke3pro4 bulan yang lalu
  • This channel is kindof a joke

    Natsu DragneelNatsu Dragneel4 bulan yang lalu
  • So individuals are expected to keep 1 years expenses saved, but companies can't survive a downturn for 1 month. Meanwhile the USA treasury keeps interest rates at a level below inflation actively harming those who save, and pumping money into risky investors that cannot keep their own finances stable. If every American did this the US economy would collapse. This is simple corporate propaganda pushing the blame from those who have the power to control the situation to those who cannot.

    D CarvalhoD Carvalho4 bulan yang lalu
  • 🤢🤮

    Chiken HillsChiken Hills4 bulan yang lalu
  • 50,000$ thats around 37,50,000 in Indian Rupees. I make 12,000 INR per month. It will take me roughly 25 years to earn that money.

    JackyVividJackyVivid4 bulan yang lalu
    • Still would recommend you save some of the money every month on mutual funds or sip and since you are young... you will find in your 40s that your initial savings have compounded to a very nice retirement egg.

      ramyashastriramyashastri3 bulan yang lalu
  • I set aside $200 a week I don't make much like, 500-600 a week on like a 30-35H workweek, thing is I dont spend much either my monthly expenses are $500 including rent that excludes gas, food, etc. But still easy enough to set that 200 weekly aside, let's say I give myself 3 decades of saving it without investing in anything which I really wouldn't reccomend due to inflation, thats $312k assuming I'm in the 25-30 range can I retire on $300k? Maybe, maybe not, but that won't really matter, because its essentially just an emergency fund, I'm also not big on home owning, which has its pros and its cons, just gotta be smart with what you spend on, and obviously hope life throws you some luck

    El Gran ToroEl Gran Toro4 bulan yang lalu
    • Where u invest?

      Frank EscobarFrank Escobar2 bulan yang lalu
    • Why wouldn't you want to invest any money due to inflation? That's the reason to invest. Even if it's sitting in a 1% online savings account, that's not going to keep up with inflation. That $300,000 could turn into $500,000-$750,000, with compound interest and maybe a 7% growth over time. Only keep your 6 months plus emergency fund in the online savings, and invest the rest.

      80sgirlwhamduran80sgirlwhamduran4 bulan yang lalu
  • The man looks completely annoyed when she speaks

    ShivithereShivithere4 bulan yang lalu
  • Frugal living is good for a bettetr future

    jesse shadrackjesse shadrack4 bulan yang lalu
  • The United States is a dystopia

    Tom STom S4 bulan yang lalu
  • There's people living frugally with jobs who can barely afford to live paycheck to paycheck. It depends on your job, income, family support... Videos like this are always naive

    Joe CrampJoe Cramp4 bulan yang lalu
  • can you do a vid on air fores boot camp

    ben criswellben criswell4 bulan yang lalu
  • Say goodbye to that fund and welcome to debt once that kid is born 😂

    Tommy CoxTommy Cox4 bulan yang lalu
  • 50k is nothing in san francisco.

    COGSCOGS4 bulan yang lalu
  • I don't know why that is presented as a unique thing to do. It's a BASIC thing to do! It took us 4-5 years, but both my partner and I have enough on the side to live a full year in a very expensive city (Sydney) without any type of income. If I had lost my job in COVID crisis, that wouldn't have been a problem at all. Just the feeling of security and peacefulness that reserve provide is worth it.

    BaradhurBaradhur4 bulan yang lalu
  • Buy a car on Carvana, don't go to dealers.

    Mirza AhmedMirza Ahmed4 bulan yang lalu
    • Or from tesla, no dealer there and optimized for online purchasing

      Martin-Rasmus KassMartin-Rasmus Kass4 bulan yang lalu
  • Who cares?

    Mirza AhmedMirza Ahmed4 bulan yang lalu
    • like 10,000 people

      Vidhyuth ViswanathanVidhyuth Viswanathan4 bulan yang lalu
  • Good luck with the pregnancy! A new mother and child SHOULD ALWAYS HAVE A NEW CAR SIR ! You can't have your new family on the side of the road waiting on help.

    Tim JonesTim Jones4 bulan yang lalu
    • I guess thats an american problem, here in europe we have good public transportation.

      TheExplorerTheExplorer4 bulan yang lalu
  • So how did they do it?

    John BlazeJohn Blaze4 bulan yang lalu
    • @TheExplorer yeah I don't think most people caught that. Her parents may or may not live there, but the house was probably paid off. The way I saved 50G. Move into parents right before a 1 year deployment.

      So TranSo Tran4 bulan yang lalu
    • living with their parents.

      TheExplorerTheExplorer4 bulan yang lalu
  • They are cute

    Matthew LewisMatthew Lewis4 bulan yang lalu
  • I'm privileged enough to live with my parents. So I've been saving ever since my commute consist for me going to my bed to my desk. Lol. It's really helpful if you can save while you don't have to commute to work

    Ishaan RIshaan R4 bulan yang lalu
  • Interesting that having money saved for a rainy day is a phenomenon unique enough in the US to to be reported on like this.

    job187job1874 bulan yang lalu
    • @matt carnes Everyone has this kind of luxury. Most people choose to live paycheck to paycheck. No one is forcing you to stay in city or living in expensive rent apartment.

      DuBstep115DuBstep1152 bulan yang lalu
    • @matt carnes Dave Ramsey Show on YT.

      Yaniq Li ChairoYaniq Li Chairo3 bulan yang lalu
    • @Kipruto Bett its called paycheck to paycheck most people dont have this luxury

      matt carnesmatt carnes4 bulan yang lalu
    • The world's economy would be better if Americans saved like the Chinese and the Chinese spent like the Americans

      Kipruto BettKipruto Bett4 bulan yang lalu
  • Mr. Beast can help with the car.

    Jonathan OjedaJonathan Ojeda4 bulan yang lalu
  • step 1: make enough to be able to save money in the first place.

    The Loner MillionaireThe Loner Millionaire4 bulan yang lalu
    • You'll never have enough if you think like that.

      AKSAKS4 bulan yang lalu
    • @Kenneth West step 2: drain your savings within the first year of retirement

      Tyler PhillipsTyler Phillips4 bulan yang lalu
    • step 1: Don't contribute to your 401k.

      Kenneth WestKenneth West4 bulan yang lalu
  • This is absolutely and completely achievable. I saved $100,000+ working as a nurse within a few short years. *If you want to know how I did it using incredibly simplistic techniques that even a five-year-old can understand, read my entire comment* ☺️ *1.* By writing down everything I purchase upon my smartphone in an app called Money Book (most banks do this for you now so you can skip this step, but I started in 2010 before such features existed). This gives me a huge advantage because I can see each day in real time how much money I’ve spent, or how little money I’ve spent *2.* All of my purchases are paid with by debit except for fuel for my vehicle which I use a credit card for because it builds credit quickly. Immediately after I purchase fuel, I pay it off by logging into my bank with my smartphone. If you watch what you spend money upon, you will save tens of thousands of dollars every year or two. I am living proof and so is this couple. It absolutely can be done The reason I left this comment is because it has made my COVID-19 experience extremely comfortable! I have no stress or worries outside of my health because I know exactly how much money is in my bank account, exactly how much money comes in each month, and exactly how much money is spent each month. Knowing these 3 things insulates you from even the largest of catastrophes because no matter how bad things get, I have a large cushion to sustain myself, something which I would love to see achieved by every other person who is willing to strive for it ☺️🙌 If anybody has any questions, feel free to ask them

    AnthonyAnthony4 bulan yang lalu
  • This seems to be a very American problem. In Europe it’s relatively normal to have sizable emergency fund, but in the US it seems like every tries to get the maximum out of every cent with no room if something goes wrong.

    RoadRunnerRoadRunner4 bulan yang lalu
    • @The Loner MillionaireThis is because European companies have to pay reasonable wages and have decent healthcare rather than depending on business owners to not be super greedy and self serving

      Stephen TrotterStephen Trotter4 bulan yang lalu
    • The Loner Millionaire that argument doesn’t make any sense. If anything us having a strong social safety net would mean, that we don’t need to build up an emergency fund. Germany, France, Austria, Netherlands, .... aren’t going to go bankrupt before you.

      RoadRunnerRoadRunner4 bulan yang lalu
    • this is because europeans are heavily dependent on the gov.

      The Loner MillionaireThe Loner Millionaire4 bulan yang lalu
  • 50k won’t cut it if something bad happens and are permanently disabled, have high medical bills and expenses. For a rainy day, fine but not for when it pours and pours.

    The Big PictureThe Big Picture4 bulan yang lalu
  • I put away $30,000 a year, but I split my funds up retirement, savings and cash. Never put all of your eggs in one nest

    Victor GrossVictor Gross4 bulan yang lalu
  • Well moving back home with parents to save money its kind of selfish if she didn't help them with expenses. Parents don't have to support you in order for you to safe money. Just saying

    C BarreraC Barrera4 bulan yang lalu
    • in the Middle East adult children are encouraged to spend on their parents and to not overburden them.

      Unreal SpacesUnreal Spaces4 bulan yang lalu
  • Thankfully dealers are sitting on massive inventory they need to get rid of so they'll find amazing deals.

    Financial ShinaniganFinancial Shinanigan4 bulan yang lalu
    • Fat Kaiju These deals also know that the unemployment rate is already at 13%.

      Nicolo ANicolo A4 bulan yang lalu
    • These dealers also know people are reluctant to take mass/public transportation.

      Fat KaijuFat Kaiju4 bulan yang lalu
  • My mom saved 400,000 in emergency funds 👁👄👁

    Skrt SkrtSkrt Skrt4 bulan yang lalu
  • When your gums to teeth ratio is over 50%. Jeez.

    Demandred1957Demandred19574 bulan yang lalu
    • @Righteous Lol, yeah ok...

      Demandred1957Demandred19573 bulan yang lalu
    • @Righteous Nope. sorry to disappoint. But I bet you do..

      Demandred1957Demandred19574 bulan yang lalu
    • Lol

      JoshyyJoshyy4 bulan yang lalu
  • I want to start an emergency fund but not having money is an emergency 😅

    thatguy 00thatguy 004 bulan yang lalu
    • @bruhger it's pretty self-explanatory, you save up money to use in an emergency

      Ananth KutuvaAnanth Kutuva4 bulan yang lalu
    • fund

      bruhgerbruhger4 bulan yang lalu
    • what is an emergency find

      bruhgerbruhger4 bulan yang lalu
    • @natethebait I watched so many of his videos and decided to watch some more about saving. Now I'm here 😂

      Kyle PritchardKyle Pritchard4 bulan yang lalu
    • I recommend searching up Dave Ramsey. He has a very good plan that works well that talks about emergency funds plus much more.

      natethebaitnatethebait4 bulan yang lalu
  • Respect to you guys. I guess your decision-making about your priorities is something we can learn from, plus you are living a lifestyle mindfully, and are content about it. Sure, we all like luxuries, but then there’s no limit to luxuries. Wish you all good health, and happiness. Also, imbibe these same principles in the new life you are bringing in. Take care.

    Ashish SawhneyAshish Sawhney4 bulan yang lalu
  • You need more in that savings dont be comfortable were you are at step out of that comfortable zone.

    Happy GenerouslyHappy Generously4 bulan yang lalu
  • Anybody can save that if we stop living for a period

    WestieloverWestielover4 bulan yang lalu
  • They probably no longer have student loans which is what hurts most millennials.

    S _S _4 bulan yang lalu
    • Excuses. She said in the video that she paid off her student loan.

      MimiMimiBulan Yang lalu
  • Mmm preggos

    Random VideosRandom Videos4 bulan yang lalu
  • Achievement 👍... I have $3 🤭

    P & K -P & K -4 bulan yang lalu
    • S _ I save 40 a week

      Jennifer WrightJennifer Wright4 bulan yang lalu
    • Everyone starts somewhere. I saved $20 a week as a high schooler.

      S _S _4 bulan yang lalu
  • Go to Vroom they deliver the car to your house.

    Ron SchuttRon Schutt4 bulan yang lalu
    • car makes vrooom vrooom beep beep

      Unreal SpacesUnreal Spaces4 bulan yang lalu
  • ( ͡° ͜ʖ ͡°)

    George ARADI-RODRIGUEZGeorge ARADI-RODRIGUEZ4 bulan yang lalu
  • First thing I thought of when I read the title. Dave Ramsey’s TOTAL MONEY MAKEOVER. Amazing job you guys! 🙌🏽

    Raul J. GomezRaul J. Gomez4 bulan yang lalu
    • "Better than I deserve" 💸

      Kyle PritchardKyle Pritchard4 bulan yang lalu
  • C O N G R A D U L A T I O N S

    Frank CastleFrank Castle4 bulan yang lalu
  • hi

    XeleXele4 bulan yang lalu
  • Wow

    Chul Han YangChul Han Yang4 bulan yang lalu
  • Emergency funds are always a good choice, don’t bite off more than you can chew

    Fingering Things ✔️Fingering Things ✔️4 bulan yang lalu
    • And if you live paycheck to paycheck what then

      matt carnesmatt carnes4 bulan yang lalu
  • K

    George ARADI-RODRIGUEZGeorge ARADI-RODRIGUEZ4 bulan yang lalu