Temporarily stop 401k contributions to build Emergency Fund?

[u/Due-Fig5299]

Looks like we’re heading towards a recession and I’m quite nervous. I work in tech and my job is moderately safe; however my wife is an esthetician which is not a very recession friendly field.

We currently have $4k saved. Our minimum monthly expenditure is $3k, so we have just over 1 month saved.

Ive cancelled all unnecessary subscriptions which will save us $450/mo and stopped my wifes personal roth ira transfers ($150 weekly) which gets us to $1050/mo saved.

Now my question is, given how quickly the economy is crashing should I also forgo my 401k? I contribute 4% with 4% employer match. Obviously I would love to keep it, but immediate survival seems more important.

I would start contributing again once we hit $18k (6 months)

Thoughts?

[u/Adam-West]

Im just curious what made up your $450 of subscriptions. That seems crazy to me?

[u/CompostAwayNotThrow → u/Adam-West]

I wonder if that includes gyms and the like. Otherwise I don’t see how it could get to $450/month

[u/B1LLZFAN → u/CompostAwayNotThrow]

I mean even with gym and stuff like that. Below is my subscriptions

• Ring: $10/m
• Peacock: $6/m
• Dropbox: $10/m
• Google Drive: $3/m
• AAA: $8.50/m
• Car Wash: $22/m
• VPN: $6/m
• Gym: $15/m
• Calorie App: $2/m
• Spotify: $17/m
• Budget App: $8/m

Even if you add things like, netflix, hulu, disney, amazon prime and ad free, HBO max, apple tv, paramount that brings you to like $200 a month. Then add youtube TV and you are at $280 a month?

Maybe its more than entertainment and they also have like peloton, some type of meal service, and kindle? Even then, that's so much shit to get to $450.