Size of emergency fund?
hmmm...I have two sons about your age right now, and they both are living at home saving to move out...they own their own cars and the expenses that come along with them....so, for them we've set a minimum of $1000 right now in the Emergency Fund with goals to move it up a bit at a time to $3000 before they move out. That is in addition to the money they keep in their Car Repair Fund.
I'd also like to ask you about your health care situation, I'm assuming you are going to be covered at your work? If not, then you need to be planning for health coverage. My one son got sick during the time when he left one employer (against parental advice) and before he was eligible for the open-enrollment date at his new employer. The result? A $1600 hospital bill that he now is paying off a bit at a time. Sucks.
He had a little bit put back in his Medical/Dental/Prescription/Co-Pay Fund, but not nearly enough.
MORE in his Emergency Fund would've been helpful.
Guess where most of his stimulus check is going???? He got back $600. So, he's taken $100 to have fun with, $200 to pay back his Dad, and $300 towards replenishing the Emergency Fund.
I just think you'd want to overestimate here and not stint. Something will come up. Best be prepared.
My boys also have savings bonds. We are not cashing them in to invest them elsewhere. We consider this part of their liquid emergency money. If push came to shove, it's easy to get at.
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