29: How Much Cash Should I Have and Where Should I Be Putting It?

<p class="p1"><span class="s1">“</span>How much money should I have in the bank?”</p> <p class="p2"> </p> <p class="p1">It<span class="s1">’</span>s a question that Stephanie and Kevin hear on a very regular basis.</p> <p class="p2"> </p> <p class="p1">No doubt about it: <span class= "s2">it</span><span class="s3">’</span><span class="s2">s</span> important to have cash on hand; but, with a well-thought-out financial plan, you can really start to make cash work for you.</p> <p class="p2"> </p> <p class="p1">Listen in as Stephanie and Kevin invite listeners to sort out the purpose of their dollars to know where they should be going. They delve into the question of <em>liquidity</em> and the actual level of accessibility of different cash vehicles, from your bank checking account to your Venmo wallet.</p> <p class="p2"> </p> <p class="p1">After explaining the characteristics of cash and where to keep it, they talk about <em>how much one should have in cash</em>, and how to invest in your financial future if you happen to have more than enough cash.</p> <p class="p2"> </p> <p class="p1"><strong>Key Topics:</strong></p> <p class="p1">The job of money. (1:41)</p> <p class="p1">What exactly does <span class="s1">“</span>cash” mean and where should you put it? (3:32)</p> <p class="p1">The difference between <em>saving</em> and <em>investing.</em> (5:56)</p> <p class="p1">Different places in which you can hold cash. (08:41)</p> <p class="p1">Why your line of credit doesn<span class= "s1">’</span>t count as part of your cash. (11:28)</p> <p class="p1">Three factors to take note of in order to figure out how much cash you need. (12:58)</p> <p class="p1"><span class="s1">“</span>Cash gives you flexibility, and you want flexibility when you<span class="s1">’</span>re not sure.” (16:50)</p> <p class="p1">Have more cash on hand than you need right now? What do you do with it? (20:35)</p> <p class="p1">How to invest without tax breaks. (24:59)</p> <p class="p1">Why Stephanie is a big fan of cash. (28:51)</p> <p class="p2"> </p>