Do you agree that $1000 is
enough money to have for an emergency fund. When paired with the advice to
cut up your credit cards and go on a
budget. Is $1000 really enough? What if you have a serious emergency like a car breaking down, your have to fly out of town for some reason, you have medical/ dental bills not covered by your insurance? How about you have a plumbing problem like I did and it cost me $600 to fix. What about this you get sick and you have already used up your sick leave at work so now your staying home because your sick with no income coming in? Is $1000 really enough to cover your bills or an emergency for say 3 months let along 6 months. What do you think? You get what I am saying $1000 barely covers one basic emergency let alone a group of them. So what do you think? Have a Great Cheap Cheetah Week!
$1000 isn't enough but it is a great start for people who have nothing saved. Ideally, I think a years worth of salary should be in your emergency fund if you are volatile industry, have debt obligations, live in an area with few job opportunities, and have kids.
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