Comment on I'm working on it, ok?
RagnarokOnline@programming.dev 2 months agoI world say it’s getting to 3-months first, then paying down debt with high-interest rates, then trying for 6-months of expenses. Could easily take a decade, but the idea is that once you have that 6-months saved, it’s less likely that you’ll re-enter into high-interest debt in the first place.
NewNewAccount@lemmy.world 2 months ago
Saving 3 months in an emergency fund while accruing high interest debt seems crazy to me.
Most people, especially those not very knowledgeable about personal finance, really should follow the Dave Ramsey baby steps.
phdepressed@sh.itjust.works 2 months ago
Building savings up still assumes you are at least paying minimums. Cc debt or payday loans are a beast of their own where 1month is basically all that’s worth it.