Advice – Michael Gortenburg

Hi everyone! It’s Michael Gortenburg here.

An emergency fund is one of the most important parts of a strong financial foundation. It is money set aside for unexpected expenses, which can include medical bills, car repairs, home issues, or a sudden loss of income. It is NOT for vacations, shopping, or planned expenses. Keeping this boundary clear is what makes your emergency fund effective.

Still, many people struggle to build one that truly works when life throws a surprise their way. The good news is that creating an emergency fund does not have to be complicated or overwhelming. With a clear plan and simple habits, you can build savings that actually protect you.

Below are practical steps to help you create an emergency fund you can rely on.

Decide How Much You Really Need

A common rule is to save three to six months of essential expenses. Focus on what you must pay each month, such as:

Housing
Utilities
Food
Transportation
Insurance

Start with a smaller goal if needed. Even $500 to $1,000 can make a big difference in an emergency.

Keep It Separate and Easy to Access

Your emergency fund should be:

Separate from your everyday checking account
Easy to access when needed
Hard enough to reach that you won’t spend it casually

A high-yield savings account is often a good option. It keeps your money safe while earning some interest.

Build It Slowly but Consistently

You do not need to save a large amount all at once to build an effective emergency fund. Consistency matters more than speed, and small, regular actions can lead to real results over time. Setting up automatic transfers, saving a portion of each paycheck, and putting bonuses or tax refunds toward your fund can help you grow your savings steadily without feeling overwhelmed.

Refill It After You Use It

If you ever have to dip into your emergency fund, don’t see it as a setback. That’s exactly what the money is there for. Life happens, and the fund did its job by helping you get through it. Once things settle down, take a moment to reset and make a plan to build it back up. Ease back into your regular saving routine and, over time, bring the balance back to where it should be.

Avoid These Common Mistakes

To make sure your emergency fund truly does what it’s supposed to do, don’t invest this money in the stock market or tie it up in anything risky. Remember, you want it there when you need it. Keep it separate from your everyday spending so you’re not tempted to dip into it for non-emergencies, and don’t forget about it once you hit your initial goal. An emergency fund isn’t meant to be exciting. It should be simple, stable, and dependable, quietly doing its job in the background until you need it.

A strong emergency fund gives you peace of mind and a sense of control when life gets unpredictable. It helps you think clearly, make better decisions, and handle unexpected expenses without unnecessary stress. Just start where you are, stay consistent, and don’t worry about being perfect. With time and steady effort, your emergency fund will grow into one of the most valuable tools you have for protecting your financial future.

Building an emergency fund is one of the smartest ways to stay financially prepared, and that same mindset becomes even more important when you’re making major decisions like buying a home. Check out my blog about the hidden costs many new homebuyers don’t always anticipate!

Michael Gortenburg, Founding Principal of Eighteen Capital Group (18CG) in Kansas City, Missouri.

Also, follow Michael on Medium, Twitter, and Xing.

You can get a stylish room for a decent price on Airbnb if you know how to properly use the platform.

It never ceases to amaze me just how dramatically technology can change the way we live our lives. When the personal computer was introduced, it took a couple of years for use to become mainstream – but now you would be hard pressed to find someone who doesn’t use a computer throughout the day.

Now with the smart phone and constant access to the internet, we have more options available to us than ever before and entire industries are being revolutionized – including the travel industry.

You may know by now that traveling is one of my favorite hobbies, and one of the biggest technological changes to affect traveling is Airbnb.

For those who might not know, Airbnb is a platform that allows users to host/rent rooms with a simple tap of the finger. Hosts prepare a room in their home or property and place an ad on the platform which then allows guests to browse and secure dates for the room as needed. Airbnb rooms essentially function as a less expensive hotel room – or even an apartment for long-term use.

The great thing about Airbnb is that it gives shared control of the stay to the host and guest, without corporate policies getting in the way of a mutually beneficial deal. And Airbnb rooms can be found all over the world – opening up new traveling options that would otherwise be impossible.

Today, I’d like to share some quick tips for using Airbnb to maximize your traveling plans.

Review the Listing Carefully

Reading the full review and paying attention to small details can mean the difference between an amazing stay and a bad experience.

It goes without saying that you should take a careful look at any listing before booking. Some hosts will have “creative” ads to entice guests, and while they may have the best intentions, you want to ensure that the place fits your expectations on your trip.

For example, sometimes a room may be described as “cozy” but should really say “small.” Or if a listing says “private” but doesn’t indicate a separate room – there may just be a curtain blocking your bed from view of three other people in a shared room.

Make sure to look at the photos that are posted. Does the room look clean? Does it show all of the things listed in the ad? A picture is worth a thousand words.

Most Airbnb hosts are honest enough with their listings (they want good reviews after all), but it’s always best to really look over the ad to avoid any disappointment. Speaking of reviews, read them. Reviews will also give insight into the listing as well as the host. If a host has dozens of positive reviews claiming that the spot is a good deal, is clean, is convenient, etc. – then it’s a safe bet that you will enjoy your stay there.

Like all things, learning how to spot a good deal on Airbnb can take some time and experience. The higher the price for your stay, the nicer the place will be – but you can find some really good deals on a room that fits both your expectations and budget with a little investigating.

Booking for Deals

Book your room at the rice place at the right time for extra savings on your trip.

When you are booking Airbnb rooms, it’s important to understand and anticipate any fluctuations that may affect pricing. For example, if the place you’re traveling to has a tourist season, the prices might be higher during a time when more people are booking Airbnb stays.

Naturally, hosts don’t want to lose out on any opportunities so keep this in mind when booking your stay. One way to grab the best deals and the best rooms is by booking weeks in advance. One of the benefits to Airbnb is being able to seamlessly secure a stay, but you will get better deals and better rooms by taking the time to book early.

Depending on how long you will be in the area, you may want to book for extended stays (a couple of weeks or even months.) Airbnb and even hosts will factor in discounts for extended stays – saving you hundreds of dollars that you would have otherwise paid for the spot.

When you do book a room – MAKE SURE YOU BOOK THROUGH TO THE NEXT DAY!

Airbnb calculates the last day as move-out day, so book through to the day you want to leave.

Contacting Hosts & Support

Airbnb has a phenomenal customer support team who are available at all hours in case there is an issue with your stay. If you are unhappy with your room or if you cannot contact the host – the Airbnb support team will work tirelessly to address your concerns.

They are also known to offer you discounts or comped services if things don’t work out with your experience. For example, if a host accepts your booking but does not coordinate with you for your arrival, you may want to contact Airbnb support as they can offer you hundreds of dollars in credit toward another room. That means you will get a much nicer stay for the same price.

Also, it is always a good idea to contact hosts prior to your stay. Some hosts leave their listings in auto-accept, but may never check their app – meaning they might not know that you’re arriving! To avoid any issues with your trip, just contact the host through the Airbnb platform before your stay and sure up everything.

Final Thoughts

Travel the globe and get great places to stay through the power of your mobile phone.

Airbnb’s are a great experience and a great deal for anyone looking to travel on a budget or for people who want to avoid stuffy hotels. A lot of Airbnb rooms are really nice places with even nicer hosts who will entertain you and give you a glimpse into the life of a local.

When you use Airbnb, make sure that you are respectful and treat the room as if it were your own. There is a review system after all, which could determine your opportunities later on. And make sure to leave an honest review of your stay – it keeps the platform accurate and hosts always appreciate good feedback and credibility.

Hopefully you can use these tips on your next trip if you’re interested in using Airbnb.

Safe travels,

~ Michael Gortenburg Kansas City, Missouri

Tag: Advice

How to Build an Emergency Fund That Actually Works