Just crossed $10k in emergency savings and I'm shook

I set a goal to hit $10k by the end of the year but I just checked my account last night and I'm already at $10,430. That's after putting an extra $200 from a side gig into it last week. It feels huge because I used to live paycheck to paycheck and never thought I'd get here. Anyone else hit a number that felt impossible at first?

3 comments

3 Comments

simonmoore3mo ago

Maybe it's just me but that money could be earning more elsewhere instead of sitting there.

casey_barnes1mo ago

@simonmoore I get where you're coming from but where exactly are you gonna put that $1000 to earn more? Like a high yield savings account gets you maybe 4 percent right now which is what 40 bucks a year? After taxes thats like 30 bucks. And thats if you even have the discipline to not touch it. Or are you talking about stocks because thats a whole different gamble especially if you need that "just in case" money soon. I just think the peace of mind of having it liquid and accessible for emergencies is worth more than the 2 bucks a month youd make elsewhere (unless you're sitting on like 50 grand just for repairs which honestly then you might have a point).

sammurray3mo agoMost Upvoted

Yeah sure, let me just go earn that $3.50/month in a savings account, life-changing stuff lol.