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re: Finally found someone that agrees with me on the absurdity of the emergency fund
Posted on 5/16/17 at 3:47 pm to OnTheBrink
Posted on 5/16/17 at 3:47 pm to OnTheBrink
How is it humble bragging to state that I disagree with keeping "3 months salary" or whatever the flavor of the month is in a low interest account? Ive always thought this was stupid but it seems to be basic financial advice.
Posted on 5/16/17 at 3:51 pm to anc
I'm with you on not having so much in the bank but $1000 in checking is a bit extreme if you are paying bills, credit card, mortgage, etc out of that account
Posted on 5/16/17 at 3:52 pm to anc
quote:
How is it humble bragging to state that I disagree with keeping "3 months salary" or whatever the flavor of the month is in a low interest account?
You know what, you are right, I read it as your annual salary is well into the 7 figures. I apologize and will remove it.
And to add to the thread, You sort of do have an emergency fund with the $1,500 or so you have sitting around, obviously not the 3-6 months people suggest. I don't think most people have this mountain of cash just sitting around waiting to get laid off and say "Yep, now is the time to use it!". I would say most people are in your shoes and have it spread out.
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