Submitted by Surrealist328 t3_10fc66x in personalfinance
I wanted to see what others think. I want to buy an expensive gaming laptop (a "toy") within the price range of $1500-2500. However, I've been broke before, and I never ever want to go back.
I make 34k a year. I have a little over $12 in my emergency fund. I also have no debt and save 25% of my income into both my 403b and Roth IRA each month. I've been looking at my emergency fund and am wondering if it even needs to be that high. If I were to lose my job and had to go scorched earth, I could easily live off $1400 a month. A six month emergency fund would be $8400. I wonder if it would be okay to take the difference between the 12k and the $8400 ($3600) and buy said laptop. I could even invest whatever's left over into my IRA or 403b.
Thoughts? Am I trying to justify a want, or am I being too cheap and not enjoying life?
EDIT: I can technically afford to save an extra $400 a month in addition to the $560 I'm saving for retirement each month. I can buy the laptop and then sock away that extra money on top of what I already have for my emergency fund.