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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't have one. I live paycheck to paycheck - I set aside money from one month's checks to pay the next month's bills. If I had the money, I'd be setting it aside for an emergency fund, but I can barely pay my bills and eat most months.  If I lost my job, I'd be screwed. However, I'm also young, rent an apartment month-to-month, and don't have kids. I would like to think that once I've graduated and have a decent paying job, I'll have a better handle on things. [/quote]

I don't have one either, and am getting kind of depressed reading about people with emergency funds that are more than I make in a year. But I'm only 25. It will get better, right?

I do put a little bit aside each month but it's in my 401K, not cash. I thought, given compound interest etc., that would be a better move. Worse comes to worst, I'll move back with my parents. [/quote]

When I was 25, I was paying for school, not yet earning a thing.  It sounds very smart that you are already contributing to a 401(k).  You are right - the power of compounding interest by starting at your age is amazing.  I'm trying to convince younger relatives of this whom I see spending all their $.  And especially if you have a support system in place to help you through a rocky time, I wouldn't stress too much at this point.  [/quote]

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