General question here. It seems like everything I'm reading about getting our finances in order (which we certainly need to do) includes budgeted money for savings each month, while aggressively paying down your debt and making sacrifices in as many areas you can.
Am I the only one who starts out in this process questioning the money put into savings when you have considerable debt? Can someone give me their general idea of why this is so important (beyond an emergency fund)? Are we saving enough money for particular things (like a vacation or essential home repairs) or is it more general than that? If it might take you 3 yrs to get out of consumer debt (except house and car maybe), what kinds of things are you using your savings for?
Part of the problem of where we are right now I'm sure is caused by us never having had any savings - even when things were going well - so I want to get my head around this part as we start on this next phase to make sure we're moving ahead in the best way possible. Thanks in advance!
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