My dad swore I was wasting money on a 6-month emergency fund, he was wrong

He said $1,000 was plenty and I was being paranoid saving $12k. Then COVID hit and that fund kept me floating for 5 months while I waited for unemployment. Who else has family giving bad budget advice that you ignored?

3 comments

3 Comments

dylan_bell21d ago

lol yeah my mom told me the same thing, said i was being dramatic saving up that much. then her car broke down and she was scrambling for money while i just sat there fine. its crazy how people who lived through recessions still think having a cushion is a bad thing. 12k might seem like a lot until you actually need it, then it disappears fast.

amy_murphy8520d ago

My friend jenna saved up about 8 grand last year and her brother laughed at her for it. Then his water heater exploded out of nowhere and he had to borrow money from her to fix it. @dylan_bell you are totally right, it's wild how people will judge you for being careful until they need help themselves. She didn't even rub it in his face, just handed him the cash and said now you get it. I think a lot of folks just don't realize how fast a few grand can vanish when life throws something at you.

daniel59320d ago

Three years ago I was definitely the brother in this story. Had about five grand saved up and my buddy kept joking I was hoarding cash like some doomsday prepper. Then my transmission went out on a Tuesday morning and the quote was 3,800. Called him that night to ask for a ride to the shop and felt like an absolute idiot. He didn't say anything but I could tell he was thinking it. Your friend Jenna is a better person than me because I would have at least made a comment about the water heater.