Just realized my 'emergency fund' was way too low after a friend's comment | Financial Planning

My buddy Brad's radiator blew and his thousand bucks didn't even cover the tow.

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A thousand dollars wouldn't even cover the tow and a new alternator on my truck last year. That bill was over two grand. Your friend is totally right, three months of expenses is a much safer goal. It feels impossible at first, but you just start adding to it bit by bit. I had the same wake-up call after a surprise vet bill wiped out my old savings.

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jamesblack6mo ago

Man, that's such a common wake-up call. Like reese551 said, a single problem can easily blow past a grand, so aiming for three months of expenses is the move. It's a slow build, but just keep chipping away at it.

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