Emergency savings: HOW MUCH???

[prestontg]

@jimmykiff Dave Ramsey is a grifter who apparently thinks that we're still living in 1978. It depends on where you live and what your expenses are, but I would consider an emergency fund at least $10k minimum.

EDIT: also keep in mind that video from Vanguard is an ad. Their goal isn't to provide accurate information about how to have an emergency fund, it's to get you to open an account with them. $2,000 is very low because it's aimed at encouraging new customers to sign up by making their service sound affordable and accessible.

 

[mike77777]

@prestontg You can have over that amount and be hit with a series of emergencies. Refrigerator, stove, sink, sliding glass door, car window stuck, water heater, broken bathroom sink pipes, lawn mower replacement all in the span of 18 months. Glad as hell I had the money to cover these and others little issues in that. Building it back though is like climbing Mt Everest in flip flops given how expensive basic needs are.

 

[kikirip]

@jimmykiff I've got $93.65. Is that enough?

 

[formeratheist2god]

@jimmykiff I think nowadays I'd want $5k minimum, but ideally 10K would actually make me not stress 24/7