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Ask Paula - Automating Savings, Starting a Blog, Emergency Funds, Investing in Real Estate Confidently, and More

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Synopsis

#54: It's the first Monday of the month, which means I'm fielding questions from the audience. We start with a question from Nicole. She's a new listener, and she's stuck in a confusing situation. You see, Nicole is self-employed. She'd like to save a percentage of her income -- but she doesn't get regular paychecks. How can she automate her savings, when she doesn't know how much she'll make each month? She asks a second question, as well. Nicole has $15,000 in savings and wants to buy her first rental property. However, she's intimidated by the unknown market. What should her first steps be? Next, we move to a question from podcast listener David. Should he invest his emergency fund? David is contemplating putting his emergency savings in the Vanguard Immediate-Term Investment Grade Fund (VFICX). Is this a good idea? Saul, another podcast listener interested in real estate investing, recently sold his home and has a decent chunk of change. Should he buy a 3 bed / 2 bath townhome with a small commerc