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For those who either follow Dave Ramsey or The Bare Foot Investors could you please answer a question for me
Answered 4 years ago
Both of these people suggest building up a 3-6 month emergency fund, once that is done do you continue to put money into that account for savings or do you direct the money to other things like holidays ect. I am Debt Free and no mortgage
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ANSWER
4 years ago
if you have 3 months, aim for 6. Then direct any additional to your splurge or you could go to 12 months if you could. Great work!
ANSWER
4 years ago
A proportion of your pay should always go into your emergency account. Set up another account for your holiday/splurge savings.