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Reply to "What to do first? Debt vs Savings/Retirement"
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[quote=Anonymous]My only concern with her keeping only 1k as a baby emergency fund is that her budget is incomplete and she has zero sinking funds. With the consolidation loan of ccs and the ccs (congrats on paying those off, OP!), she does not yet have a working budget or sinking funds set up. She also has a child. I think she should save a baby efund of at least a few thousand and set aside some money for car repairs/christmas presents, etc - upcoming costs that are coming. YNAB will let you do that OP: It lets you allocate money and roll it forward if it is unspent each month. So I think she should save out a few thousand for her emergency fund and also because she has zero sinking funds now. OP, your goal should be to NOT USE the ccs at all. Put zero on them. Then if money is left over from the bonus, use that to get out of that crazy high carpayment and interest. [/quote]
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