Background on myself to help:
I'm 24, college educated and making about $30,000-$35,000 a year currently. I have 0 debt and my expenses are quite low as well as a very low cost of living in my state. My only monthly expenses are $500 for rent and utilities, $50 for groceries and around $200 for other expenses (gym membership, gas, movies, eating out, fun...)
I find myself having an extra $850 after everything is paid for at the end of the month. I have a 6 month saving account, but my next thought is always invest...invest....invest. I literally put every dollar I have at the end of the month into some kind of investment. I can't help, but to challenge myself every month to spend less, so I have more to invest after all my bills are paid. Should I pump the breaks on this a little bit and start setting more cash aside other than my 6 month emergency saving account? I'd say about 70% of my investments are liquid, so if I ever need the cash quick I'd have no problem accessing it.
Sometimes I get the feeling that having an extra lump of cash in the bank would be good. But I'm not sure why really. What if I want to go on a big vacation? Buy a house? Make a huge investment? Start a business? Any insight would help.
EDIT: The extra $850 I referred to is after I've made retirement contributions.
Submitted June 24, 2017 at 10:41AM by R-3-D http://ift.tt/2sNjPP2
