• @datelmd5sum
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    189 months ago

    6 month of work just sitting thete getting eaten away by inflation doesn’t spund smart. Either invest that shit or boof that shit while getting your dick sucked.

    • @[email protected]
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      209 months ago

      It is very smart. If you lose your job or have a major expense, not having to put it on credit provides you with a lot of stability, and you don’t have to pay interest.

      -someone still paying off 4 months of unemployment a year ago

    • @[email protected]
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      129 months ago

      You can have your emergency funds in a high savings account as long as you can withdraw it without a pnealty

    • @Sniatch
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      109 months ago

      I have my emergency fund in a savings account with 3% interest rate. So my bank is giving me money each month for doing nothing really and I can withdraw my money whenever I want.

      • @SkippingRelax
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        59 months ago

        You are barely keeping up with inflation, don’t think that’s an investment. That said, you are doing the right thing, keep that money available if needed.

        Everything on top of 6 months expenses, you should invest in something less liquid that on the long term yields decent returns.

        • @Sniatch
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          9 months ago

          It’s not smart to use your emergency fund as an investment. The point is that you keep your emergency fund in an savings account that has at least an interest rate like the inflation rate and you should be able to use that money any time.

          I never said that I’m doing an investment with that. No idea why you mention this.

          • @SkippingRelax
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            29 months ago

            This part made me think you were saying that was an investment, sorry I misunderstood

            So my bank is giving me money each month for doing nothing really

    • @[email protected]
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      49 months ago

      USD Inflation is ~3% per year currently, which is easy to beat with a high yield savings account. Anything more than 6 months should definitely go into an index fund though.