alwayslookingout t1_j6fzi91 wrote on January 30, 2023 at 1:38 AM

If it was me, I’d cut down on the trips and vacations to build up at least 6 months of emergency fund then pay off the car ASAP. You live in an expensive city so presumably $9K wouldn’t go very far.

julianorts OP t1_j6g0y86 wrote on January 30, 2023 at 1:48 AM

I need to see my family at least twice a year, just a personal rule! I have not been able to travel much because I don’t want to always tap into savings to do so. I don’t feel like 6 months of savings is necessary for me. I’m in a stable, high demand job. I want my savings higher but they’re barely moving anyway 😭

Kplow19 t1_j6g8h0j wrote on January 30, 2023 at 2:39 AM

You should still at minimum have 3 months saved in an emergency fund. You never know what could happen, maybe you have a serious medical issue that leaves you with a large unexpected bill, maybe your car has a bad mechanical failure and it will cost a few grand to fix, etc

You should really budget flights money separate from emergency money too, either on the balance sheet or just have a 2nd savings account

alwayslookingout t1_j6g1gcn wrote on January 30, 2023 at 1:51 AM

You have to make some sacrifices if you want to get rid of this car payment early. Your savings aren’t going up because you’re spending as much as you bring home. So you have to bring in more money or spend less. It’s as simple as that.