The Saving Advice Forums - A classic personal finance community.

Need Advice.

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Need Advice.

    Hi, This July will be my 3rd year in my job. Since my family is struggling financially, I have no choice but to still live with my family(5 members) since I am still single and I also give a share from my salary. However, I manage to save a very little amount of money. I am thinking if I should invest it and leave it there(for the future) or should I build my emergency fund first? Thank you in advance

  • #2
    Always the emergency fund first. If you don't have one and an emergency arises, you will be forced to withdrawal from your investment (possibly at a lower price than you paid.

    Along with emergency funds, you should save for when you do move out of your family home. It costs money to move. Often deposits are needed for the rental and utilities.
    My other blog is Your Organized Friend.

    Comment


    • #3
      Welcome.

      Definitely build your emergency fund and general savings first. As noted, you need a cushion to cover things that crop up. You also need money for when you do get your own place.
      Steve

      * Despite the high cost of living, it remains very popular.
      * Why should I pay for my daughter's education when she already knows everything?
      * There are no shortcuts to anywhere worth going.

      Comment

      Working...
      X