I have a stable job, but I've always had the goal of saving 12 months worth of expenses in an emergency fund. I'm about to reach that amount, after which all the money I would otherwise put in the emergency fund will be invested.
In discussing my finances with my fiancée, she argued that 12 months was too much and that the internet generally recommends 3-6 months worth of expenses. I read that recommendation, but given the pandemic and the desire to feel safer, I prefer to have a year's worth of cash available.
This is especially important now because we are saving up for a down payment on our first home, so any additional cash lying around will be useful.
Is it a bad idea to save for a year's worth of expenses? Am I being overly cautious?
Submitted November 24, 2020 at 11:54PM by curlymeatball38 https://ift.tt/2KwlaXq
