Hit my first $10k emergency fund last week and it felt strange

I finally did it after 14 months of saving small amounts from every paycheck. I put away $50 to $100 a week into a separate account I never touch. Last Tuesday when I logged in and saw the balance at $10,023 I actually stared at the screen for a while. I grew up in a house where one surprise bill meant panic and credit cards. So hitting that number felt almost unreal, like I was looking at someone else's account. Now I'm trying to figure out what to do next. Do you aim for 6 months of expenses or just stop at a specific dollar amount and focus on something else?

3 comments

3 Comments

ruby_henderson361mo ago

Wade, that monopoly money feeling hit me too when I crossed $8k recently. How do you stop yourself from peeking at that account when something shiny comes up or a trip gets planned? I'm wondering if the discipline gets easier or harder once you decide to leave it alone.

wood.eric1mo ago

I mean, are you sure you actually need that much just sitting there? I get the security thing but $10k is a lot of cash doing nothing while you're probably paying interest on stuff or missing out on growth. Maybe it's just me but I'd rather keep like $3-4k in checking and put the rest toward something that actually works for me.

wade8711mo ago

Twenty-six months for me to hit that same number. Felt like I was looking at monopoly money. The weirdest part was not wanting to spend a single cent of it even though that was the whole point of having it. I stopped at $10k and started putting extra into retirement instead. Something about that round number felt right as a floor.