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12/03/2013 at 20:51
How much money do you think you should have in case of emergency? Some say two months worth of wages others say 6 months. I certainly haven't got anywhere near either!
I watch a Derren Brown programme where a guy discussed his life savings as being £6k and he was near retirement. To me that didn't seem a lot to be described as life savings.
12/03/2013 at 20:53
I think you should have a good 6 months worth. I have, however, nothing.
6k at retirement doesn't seem much but he could have owned his house and be about to draw down a massive pension I suppose.
12/03/2013 at 20:56
I remember watching some thing that said you should have enough money put away to cover you for two months. That doesn't sound like much to me as I think it would take h longer than that to find a new post on the same salary. However it's more than we have put by.
12/03/2013 at 21:23
I would aim for 6 months in cash easily accessible savings.
£6k is nothing over the long term. But of course at reirement there may be a big pension and housing costs could be lower.
Everythung depends, though, doesn't it? Living and housing costs and salaries vary so much that what is a stretch for some is easily achieved by others.
13/03/2013 at 03:14
It's terrible but I've never considered us needing a safety net. Hs job requires a years notice, out basic housing costs are very minimal. We've no debt or mortgage etc. However we have a large chunk in both our ISAs as our lifestyle is so cheap its built up since we married 18 months ago.
13/03/2013 at 08:58
We've probably got about £1k in savings, not enough to cover us for 1 month if anything happened to any of our jobs.
13/03/2013 at 09:08
We are slowly trying to build up savings as they have been hit hard since having the kids. I hate not having a safety net. Knowing we have no help from anyone else I like to have something put back. PJ xx
13/03/2013 at 10:57
We would like to have 6 months, but we don't yet, and with me being on maternity won't be able to save for a while. At the moment we have a couple of months' salary (for both of us) stashed away, and I'm on full pay until May so we can save a little more, but we'll then need to draw on this once I come off SMP in October.
We'd saved up a large amount previously, but it all went on a house deposit!
13/03/2013 at 17:42
I used to always have 3 months pay put aside. Since H and I got together that has gone up and down. Currently it's up, but when we move we will be using all our savings up. I don't like having no savings, it really worries me. I need that safety net.
13/03/2013 at 20:23
I have heard at least 6 months and have that not that I have a salary anymore!!
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