My thoughts about personal finance have evolved and changed over time, but one thing has stayed consistent: I don’t think $1K is enough for an emergency fund.

Saving an emergency fund was the first things we did when we started paying back our debt. It was the move that made the most sense: the emergency fund created a cushion in our budget that helped us avoid accumulating more debt when unexpected situations arose.

But when I saving, I quickly realized there are very different opinions about the “right” amount to have in your account when you’re in debt.

One popular idea is to have a $1K emergency fund while you pay back debt. I get the logic: keeping your emergency fund small means more money is available to pay off debt. More money to debt means you pay off the debt faster. Makes sense, right?

Maybe for some. But I never bought into the idea that $1K is enough for an emergency fund. I didn’t believe it at the start of our journey and I still don’t believe it today.

Here’s why.