l'm Worried About the $1,000 Emergency Fund

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5 • 839 Ratings

🗓️ 20 January 2026

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.0	I just received a job offer.
0:08.0	Yay!
0:09.0	Thank you. I'd be switching from a work-from-home position that I currently have to a home
0:15.0	position where I drive around the metro area and provide services to patients in their home,
0:21.7	I would be receiving a significant pay increase.
0:24.9	Last year, I've ended the year for my full-time job with about $64,000.
0:30.8	And my offer letter for my base pay for my new job would be about $120,000.
0:35.7	Wow.
0:37.2	Wow, that is huge. Love it, Casey. Way to go.
0:41.1	Thank you. Thank you. I guess the question lies, I drive a 2005 Toyota Corolla, had the same car
0:47.5	car since college. It has over 200,000 miles on it. And the question lies in, would you still
0:53.2	recommend only $1,000 in emergency savings and then
0:57.3	pouring my extra into my student loan debt? Because my major concern is that with this home health
1:03.1	job, my car is my livelihood. If I'm not able to see patients, I'm not able to have money. And because I have an
1:09.2	older car, I just kind of am hesitant about not
1:14.5	having a backup plan immediately or having, you know, or having to go into debt to get another car.
1:21.1	Yeah, you're making, but you're making $10,000 a month. Hey, you've got to take care of your vehicle
1:25.5	if you want to keep it on the road, and the smartest move is regular maintenance.
1:30.0	I recommend Christian Brothers Automotive, the official auto repair partner of the Ramsey Show.
1:36.8	Your local Christian Brothers shop provides high quality maintenance and repair services you can trust.
1:43.7	Visit CBAC.com slash Ramsey to find a location near you
	...

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