Worth It

There are plenty of “rules” out there about how much money you need to save up for a rainy day or an emergency, but how do you know what you need to save? This week on Worth It, Dustin and Danielle are digging into a simple formula that can help you answer that question, both for personal savings goals and for your business. WHAT YOU’LL LEARN 07:05 Why most Americans are not prepared for an emergency 07:33 Why cash is a parachute, not an airplane 09:49 How much cash should you have on hand? 10:34 How much cash you need on hand for the short-term 11:16 Why your business cash savings should mirror your personal savings 12:25 What you need cash on hand for in your business 13:20 What you need to save if you have a business that earns $1mil in revenue 17:15 Why you need to consider your aversion to risk before calculating cash 17:35 The role your business industry and stability plays on calculations 19:27 Why long-term strategies should be implemented with short-term savings 20:32: What are the types of investmen