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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]

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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.

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[–] [email protected] 2 points 1 year ago

For credit card this actually isn't the best idea if you're trying to build credit. You want to build your debt and then pay it off at the end of the month.