<prompt> Human: My fiancé and I are getting ready to purchase a house. The only problem is if we purchase this year, we will have basically no savings. We are thinking we can start saving an emergency fund after we buy. We feel like we are wasting so much money renting and dont want to continue on for another year like that. Should we take the risk and possibly save more money in the long run?This was my first reddit post and you guys did not let me down. Thanks to all the swift and insightful replies. I think were both convinced we need to wait at LEAST another year, and also keep learning about finances.  <response>: House repairs are the number one need for an emergency fund. If you cant afford the house while still maintaining an amount of savings as meager as the usual emergency fund suggestions, then you cant afford the house. Its an emergency fund, not a down payment fund. 