Chat

7499 readers

47 users here now

Relaxed section for discussion and debate that doesn't fit anywhere else. Whether it's advice, how your week is going, a link that's at the back of your mind, or something like that, it can likely go here.

Subcommunities on Beehaw:

AskBeehaw

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

188

For the Love of Everything, Please Keep 3-6 Months Worth of Money for an Emergency Fund (If You Can) (beehaw.org)

submitted 1 year ago by [email protected] to c/[email protected]

42 comments fedilink hide all child comments

I left my job about two months ago, and I applied for unemployment immediately. I got a new job today, but I STILL haven't gotten my unemployment decision. Additionally, my food stamp application was delayed due to personal circumstances. In short, had I not had money saved for an emergency, I would have been mega-screwed.

I know some people are not in a position where they have the luxury of storing away significant amounts of cash but, if you are, I beg of you to do so if you aren't already. I can't imagine what position I'd be in right now if not for my budgeting.

Thanks for coming to my TED Talk.

PS. I posted this here instead of in c/finance because the sidebar there specifies that it's supposed to be for finance-related news.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 16 points 1 year ago

The other benefit of having a proper emergency fund is being able to say no to your boss without any fear. It took me 10 years but I have enough accessible funds to go a year easily without any new income. The freedom at work is so nice. I've noticed that my confidence at not needing the job makes them take me way more seriously and offer all kinds of benefits they don't afford everyone.