Saving your emergency fund can be one of the hardest things to do in your 20s. You've got student loans, car loans, a low income, and an itch to travel and spend money. Saving up 3-6 months of expenses seems nearly impossible.

So the question is, do you really need that much?

I believe that sometimes people in their 20s are told to save too much in their emergency fund and they would be better off saving less if they're in a certain situation.

Of course, this won't work for everyone, but it's worth understanding.

There are two groups of people in their 20s. One group can save a little less and use the excess money to pay off debt faster and invest for their future. The other group is probably better off saving a little more before investing and paying off more debt.

Be sure to watch the video to find out which group you're in and exactly how much you should be saving in your emergency fund.

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