MInTheGap

Standing in the Gap in a Society that's Warring with God.

How Much is In Your Emergency Fund?

June 11th, 2009 Visited 1348 times, 2 so far today

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How much do you have saved up?  Me, I’m better than about 3 months—especially because we’ve seriously cut back on discretionary spending with my job loss.

According to Christian Personal Finance, the size of emergency funds is increasing:

I was just reading an article in Money magazine based off a poll asking their readers how much they had in emergency savings. It didn’t seem to be a very “scientific” poll, but I was very surprised by the results.

According to their survey, 37% of the responses indicated they had more than 6 months of expenses in an emergency fund! Another 19% had 3-6 months, 22% had less than 3 months, and another 22% had none.

So, how about you?  Do you have a lot saved? a little? none?

Comments

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  • John Hunter says on: June 13, 2009 at 8:50 pm

     

    You should save at least 6 months as an emergency fund. One thing is that really any saving can serve as an emergency fund so what amount of emergency fund you have is largely just a matter of your total saving and what you decide to call your emergency fund.

    But if you don’t have 6 months of expenses in saving or CD’s… you should work on building that up. And saving more is even better.

MInTheGap

Standing in the Gap in a Society that's Warring with God.

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