Hello Everyone,
I am 21 years old and currently make $37,440 before taxes. I currently have an emergency fund with 1-month of expenses. By the end of the year I will be able to grow that to a little over three months worth of expenses. Currently I am contributing $100 a month to my Roth IRA, and 8% of my income pre-tax to my Employer 401k (my work contributes half of what I contribute up to 8%).
My question is, should I use my emergency fund at the end of the year to max out my 2021 Roth contributions? This would essentially wipe out my emergency fund, so I would have to work on rebuilding it next year. I currently have a credit care with 0% APR until next November, so I could always use that in case of an emergency, and adjust my budget to pay that off before the 0% APR promo rate expires.
I appreciate any input, thank you!
Submitted September 11, 2022 at 04:14AM by Camo2Kx https://ift.tt/klW8BLJ
