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My friend called my 6 month emergency fund "dead cash" and I cut it to 3
She pointed out I was sitting on $11,400 in a 0.3% savings account while still carrying $3,200 in card debt at 22%, so I paid the card off and only kept 3 months in cash, and now I want to hear if anyone else has had a friend talk them out of a number they were proud of.
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shah.zara3h ago
Paying off 22% card debt was the right call no matter who said it. But the part your friend skipped is that 3 months assumed your income keeps coming in. Cutting the fund and the debt at the same time leaves you thin if a layoff and a car repair land in the same month.
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