<prompt> Human: Hello Reddit PF! I am a recent college graduate and was fortunate enough to land a very nice job which I start on Tuesday. I currently have no emergency fund and after reading PF Ive learned the importance of creating one.My original plan was to save about 7k over the course of June to October about 3 months expenses and then start to tackle my student debt in November 6 month grace period ends. My total debt balance is about 38k which I plan to repay over a 10 year period. My federal loans have a balance of 32.5k 4.5 interest. However, my one private loan is 5.5k 11 interest. Since the private loan is at such a high interest rate should I save a smaller emergency fund and start to pay off the balance before the grace period ends?For any that wonder, my monthly available amount for savingsdebt is about 1.4k. Thanks everyone!Edit 1: Income is 63k with take home with monthly take home of about 3,300. Ive budgeted about 450 of fun money for myself and my girlfriend per month which includes things like going out for dinner, getting some drinks, or making a few discretionary purchases.I do live by myself and my rent is 700.Besides the emergency fund and paying off debt, I would like to get a different car soon since my current car is a bit of beater and feel it is not very reliable. Nothing new or fancy, but spending about 5k cash on a used Honda Accord or Toyota Camry would be okay with me, which I would like to buy during the winter or next spring.  <response>: The real answer is...you need to do whats comfortable to you. Emergency funds are largely about risk tolerance and not about some magic formula. Only you really know about the stability of your job, the ease with which you could replace that income, etc.Many people are suggesting very low emergency funds, 1000 or 2000. The difference between starting to hit the loans hard tomorrow or in October is EXTREMELY low. Were talking an opportunity cost on the order of 100-150. I personally think a 1000 emergency fund is reckless. That wouldnt even cover 1mo of your obligations if something were to happen. 