The balance between paying down debt and savings

Biopsy results from last Thursday’s procedure are NEGATIVE! Yay! Happy Snoopy dance time!!

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Originally Posted by Tradd

Biopsy results from last Thursday’s procedure are NEGATIVE! Yay! Happy Snoopy dance time!!

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Wonderful news!

Great news!

Wonderful news, Tradd! Congrats!

That's great. A huge item off the worry table.

Yes! Wonderful news, Tradd!

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Originally Posted by Rogar

That's great. A huge item off the worry table.

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Yep. Sure is!

So happy for you, Tradd!

I was having an interesting discussion elsewhere about the size of TEMPORARY emergency fund while paying off debt. DR has recommended $1K for decades. Given the current inflation that is not going down, I think MORE than $1K is better, if you can swing it. The temporary emergency fund is supposed to take care of emergencies so you don't put it on a cc. There are too many things that can cost a lot more than that $1K emergency fund. I had $4300, but since I've had a lot of medical bills due to my surgery, I've taken $1K and thrown that at cc.

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Originally Posted by Tradd

I was having an interesting discussion elsewhere about the size of TEMPORARY emergency fund while paying off debt. DR has recommended $1K for decades. Given the current inflation that is not going down, I think MORE than $1K is better, if you can swing it. The temporary emergency fund is supposed to take care of emergencies so you don't put it on a cc. There are too many things that can cost a lot more than that $1K emergency fund. I had $4300, but since I've had a lot of medical bills due to my surgery, I've taken $1K and thrown that at cc.

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Most cars repairs will be more than$1,000 so if one has older cars yeah, keep more than $1,000 as emergency fund. And if one owns a house, for sure $1,000 is not enough to cover a sudden repair.