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Emergency Savings??

Started by Rina K.
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Shelly S.

The amount depends on family size and certainly where one lives and what their monthly expenses are. On the other hand, I do believe something is better than nothing. I have had something and I have had nothing when an emergency came up. I like having something better. Just way less stress.

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Latasha B.

There really isn't a set number just save, save, and save. The more the merrier.

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Kitraina G.

I took a investment class and I was told save 6 months of emergency money. Take a jar and every day put your change in the jar.

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Anna W.

I believe they say 3-6 months of expense for emergency fund. However, I was laid off before for 1 year so my goal is to get 1 year of emergency fund saved. I would rather have extra.

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Elena B.

I do not think that $2500 would be a good emergency fund for me. Personally I want my emergency fund to be equal to a year of take home pay.

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Melissa H.

6 months is a great goal! i wish i could get there! however i feel like when i start to save something goes wrong! 2020 has been a crazy year for finances. im hoping this program helps to keep my savings in line.

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Stephanie H.

Im going mad literally all bad my savings is at all time low… Im hurting…

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Tiki M.

Hopefully we can get another round of stimulus and I’ll save it for emergencies since I’m doing alright now.

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Shaina P.

I don't use/like the phrase Emergency Savings. It's a psychological thing but I prefer 'contingent'. 'Emergency' evokes stress. Financial management is suppose to be enjoyable. In any case, I set aside money for situations that could disrupt my cashflow. The amount to save is specific to the savers needs and comfort level. I save up 3 months of expenses ever year. On January 1, I use it to fund my Roth IRA and then start over again.

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Latasha B.

Shaina Roth IRA that's what I like to hear. How is that going for you? What company are you with? Are you paid in dividends?

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Shaina P.

Shaina Roth IRA that's what I like to hear. How is that going for you? What company are you with? Are you paid in dividends?

It's great! I use 2 custodians for my Roth - Vanguard for stock investments and AdantaIRA for real estate investments. My stock investments do pay dividends. They are on a DRIP though so I don't notice them till I pull the statement.

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