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One big takeaway: When every single "personal finance" site tells you that having an "emergency fund" of 3+ times your monthly costs (rent, food, insurance, ..
by rb2k_ 11y ago
One big takeaway:
When every single "personal finance" site tells you that having an "emergency fund" of 3+ times your monthly costs (rent, food, insurance, ...) is very important, they probably are right :)
- rev_bird 11y agoHonestly, I often hesitate to just take personal finance bloggers' word for this kind of stuff -- most of the time, personal finance/"early retirement" personalities write about it because they've done very well with it, which makes sense. But most of the time, they've done very well with it because they have made astronomical amounts of money: $100,000 on HN isn't an earth-stopping amount of money, but a $100,000 salary pretty much anywhere else is an absurd number. Not everybody is going to pull in that much at their job -- on average, probably less than half of that. Anyway, my point is that those bloggers are probably right, sure, but they're right for their circumstances, which are frequently very unusual.