Why You Need a F*** You Fund (& How to Build It)

What is a F**** You Fund?

It's more than just a safety net. It's more than just an emergency fund. It gives you the power to put yourself first and make bold change. 

Having money set aisde in what I like to call a F*** You Fund gives you the financial buffer and freedom to support yourself. To say yes to what excites you or walk away from something that no longer serves you. 

In today's unpredictable economic climate, having a financial safety net AND F*** You Fund is more important than ever. Your emergency savings account serves as a crucial buffer and offers peace of mind when unexpected expenses arise.

Your F*** You Fund is an opportunity fund which gives you options, choices, freedom & flexibility. 

5 Underrated reasons for a F*** You Fund

Life is full of surprises- some of them are not so pleasant and others are bold invitations to do things differently. A F*** You Fund allows you to be prepared no matter which curveball may come your way. 

A F*** You Fund is not to be confused with an emergengy savings fund. An emergency fund is there to be used for unexpected home repairs, medical emergencies, car troubles or any other unexpected emergency that may arise.

A F*** You Fund on the other hand is for opportunies. Here are 5 underrated reasons to start building your F*** You Fund:

1. To be able to say YES when your best friend asks you to go on a trip
2. To walk away from an unhealthy or abusive relationship
3.To purse your passions or start your own business 
4. To leave a toxic work environment or a job that no longer serves you
5. To explore an opportunity in a new city. Or quit your job and travel the world.

These are just a few of my personal favourtes- but the options are endless.

How to build a F*** You Fund

You may be thinking, I'm already putting money aside in an emergency savings accout, trying to invest for my future retirement, paying off debt or saving for a home- how am I supposed to put more money aside?

Well before you go knocking down this idea, I encourage a quick financial audit (15 minutes to review your spending from last month).

When I help my clients run a quick financial audit, they are almost always surpised to find they are spending more money than they thought on streaming services, subscriptions they may not even be using, and the biggest financial "leak": uber eats and food delivery. Run the audit and see if you can start by redirecting a small portion of your hard earned money to your yourself first. 

Additonally, here are a few other options you can conisder to start building your F*** You Fund:

-start a side hustle and put the money that you earn aside in a seperate account
-explore ways to increase your income: ask for a raise, work towards changing your role, or find a flexible part time gig. Don't be afraid to try something new!
- If you earn bonuses or comissions, dedicate a portion of these funds to go directly into your F*** You Fund. 

Who's going to give you the world? Your damn self, girl.

Where should I keep my F*** You Fund?

A seperate savings account. 

Not your chequing account. Not an investment. Not crypto. Not under your bed. 

You need the money to be liquid as it is impossible to predict when the opportunity will arise to take advtanage of these funds, so I encourage keeping the money in a High Interest Savings Account. 

For my Canadian readers, I encourage opening up a seperate savings account with Wealthsimple. The accounts are free, they offer competitive interest rates, and it takes under 2 mintues to open the account online. 

I assure you keeping the account in a seperate savings account helps with visualizing, feeling more in control of your finances and most importantly building momentum. When you watch the account start to grow, you are more likely to commit and keep adding money to the account. 

Celebrate the small wins. And Automate.

Set small milestones and be proud of yourself. Every dollar that you put aside in this account is a declaration to your financial indepence and freedom. 

Celebrate your first $100, $500 and $1000 saved.

If you start putting aside money today, $20 a week will give you $1040 a year from now. 

If $20 feels easy to commit to, log-in to your account and automate this. Not later, not tomorrow, but today. Right now. 

You can always add more throghout the year, but automating a small amount is the easiest way to ensure you stay committed. 

The choice is yours.

It's more than a savings account- it's choice, freedom & power. How you choose to spend the money once you build it- well the choice is yours. 

It's your F*** You Fund and you can spend it any which way you want.  Put yourself first & start building yours today.