<prompt> Human: Parents saved up around 20k for me that needs to be transferred to me now that Im 21. How should I split this up in the smartest way? I have about 5k in school loans but they are not accruing interest yet. Besides that, Im mostly expense free.Assistant: pay off the school loans.The rest should be an emergency fund that you NEVER touch. Its only for real, actual emergencies.Human: Where should I store the emergency fund? Also, why bother with one if I have free healthcare with the military?  <response>: In a savings account at a bank. Im not sure if USAA has any perks for military members. All kinds of emergencies like your car needing to be repairedreplaced, your rent going up so you have to find a new place, your home being burglarized, etc. could be catastrophic if you dont have any money saved. 