How much money do you have in your emergency funds?

nomad

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Some people say you need 4 months of expenses on your emergency funds, where as some people tell you need at least 12 months of expenses. How much money do you have in your emergency funds?
 
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freelancermaria

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It is a relatively small amount since I just began building my emergency fund. I am also saving, so it is difficult to do everything at once when you do not earn a high income. However, I make sure to put in a small amount every month.
 

Suba

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Each person will have a different emergency fund, depending on their marital status. If you are married and have 1 child, generally it is 12-15 times your monthly expenses, so I only have 6 times my monthly expenses.
 

nomad

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Each person will have a different emergency fund, depending on their marital status. If you are married and have 1 child, generally it is 12-15 times your monthly expenses, so I only have 6 times my monthly expenses.
That's correct, how much money you should have in your emergency funds depend on your expenses. If you have a family, yo need more money in your emergency funds compared to being single
 

jetsaints30

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I have around 5 months worth of expenses saved in my emergency fund. I feel like it's a good balance for me, providing a safety net without tying up too much of my savings.
 
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