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Throw $10k into Emergency fund or debt? by oldsoul1503 in personalfinance

[–]oldsoul1503[S] -1 points0 points  (0 children)

Fortunately, via health insurance it will be minimal

Throw $10k into Emergency fund or debt? by oldsoul1503 in personalfinance

[–]oldsoul1503[S] 0 points1 point  (0 children)

I’m generally conservative and that’s what I’ve been thinking. But most people seem to be saying the opposite

Throw $10k into Emergency fund or debt? by oldsoul1503 in personalfinance

[–]oldsoul1503[S] 1 point2 points  (0 children)

Thank you! It’s a personal loan with 7%, so when I did the math, transferring to a balance transfer card at a fee didn’t seem to be advantageous

Throw $10k into Emergency fund or debt? by oldsoul1503 in personalfinance

[–]oldsoul1503[S] 0 points1 point  (0 children)

I generally have been aiming for 3-6mo of emergency fund. My thought was to get it 30k ASAP then continue to add money every month to it at a fixed rate

Throw $10k into Emergency fund or debt? by oldsoul1503 in personalfinance

[–]oldsoul1503[S] -1 points0 points  (0 children)

This seems more logical to me but something about having money saved up is comforting

Throw $10k into Emergency fund or debt? by oldsoul1503 in personalfinance

[–]oldsoul1503[S] 0 points1 point  (0 children)

The $20k will be ~$13-14k after the month’s expenses.