To ask how much you keep in your emergency fund?

I ment that my financial stuff is arranged so that I should not have over 15k in assets when I die. In most cases, in these circumstances, an estate will not have to go through probate. As long as you have a straightforward will (i do, all goes to my only adult child) don't own any property (i dont) and the will is not contested, then going through probate (which can take over a year) shouldn't be necessary.

we have 6 months salary for one of us or 3 month salary for both. I’d like a little more but also want to balance living now. I’m in my 40s and now come across people in their 50s and early 60s dying before even getting to retirement so saving it all for then feels like a bad plan. If I live to 96 I might regret my choices but I am trying to get the right balance. Sitting on 100k in savings but never going on holidays wouldn’t feel right for me, but others would view that differently.

I try to keep roughly 20k in an instant access account. I know it is rubbish interest and would have made me money over the years in an ISA, but I am self employed and sometimes need to dip into it heavily if payment is late or work dries up for a while, then pay back in when the work floods in.

And I get massive peace of mind from knowing I can access it immediately in an emergency or for happy occasions. Since having this back up fund I have stopped worrying about money. I used to worry about it all the time.

100k.
I honestly never thought i would have that much money as we had years if living on our knees and bailiffs knocking on our door.
Once we got straight i hoarded money and became obsessed with not wanting to end up the way we did, even though it was through no fault of ours.

I have around £200 in savings.
I have around £150 in cash stashed in my underwear drawer and in various books.
I have an artwork worth around £15K but that would have to be sold through auction, Sothebys, etc so after fees, it would be worth much less.

I used to have a year's worth after separating from ex, selling the house and buying a modest flat so I would have some spare. But over the 10 years since then as a single mum I've had to eat into it (self-employed, unexpected bills, school trips etc) and now only have a few grand. I REALLY try to build it back up but CoL combined with stagnating pay makes that v hard. I save, but then end up having to use it.

On the plus side I have a good amount of equity in the flat and several pensions, they're not great but If I was really desperate I could downsize. Don't like not having more savings though.

Immediate access to 6 months worth of my current income. It used to be 3 months pre-kids but now I like the additional security.

It’s all planned for. On 1.6% and get 6% in some of my savings accounts so it makes no sense to pay off the mortgage when I earn more interest than the benefit of paying some of the mortgage off would bring. May as well get free money while I’m paying very low interest anyway. I overpay on the mortgage too to reduce capital.

This confuses me too.

Not all of it obviously, but as much of the mortgage portion of the savings that you are allowed per year to overpay (I know many have 10% limits). Would make the mortgage term much shorter too!

ETA - thinking about it, that plan only works if you are within the last 2 years or so of your mortgage......otherwise yes you have paid off a large amount BUT you still have to make the payments every month until it is paid off, and no longer have the savings to do it.

So maybe our logic isnt as good as we initially thought it was!

I’m recently retired so no longer need an emergency fund . Mortgages paid off , 2 x dogs that aren’t insured so £60k in an account for them , there’s nothing else that could go wrong that I couldn’t pay for . When I was working I had the obligatory 6mths expenses plus private healthcare and redundancy / mortgage protection / critical illness cover .

Enough to cover 5 months of living expenses in an easy access account. This is separate from my 'proper' savings. Lucky enough to have paid off the mortgage which has reduced the expenses considerably.

This confuses me. Why not just use that money to reduce your mortgage? You'd save a fortune on interest.

Emergency fund is 10k.
Anything after that goes into my main savings account which is around £25k.

Approx £60k - but this is instead of having a lower mortgage (savings rate is same as mortgage rate so I figure better to have cash available if needs be).

I don't want to derail the thread, but what does 'keeping it under probate' mean. Do you mean the inheritance tax level?

We’ve always had an entire year’s worth minimum, but we both lost a parent as children, so are generally on the extremely cautious side with money and the stability of our home for our children as a result.

We have a number of savings pots for different emergencies...

500 cash at home, just in case.
4k for the dog "insurance"
12k for the kids (uni students) just in case
15k in premium bonds for any long term issues.
We have low outgoings so would last a couple of years.

£300

6 months of expenses but don't think it's enough. Worry about money all the time and would ideally like 2 years worth stashed away.

My emergency fund consists of any spare credit limit I might have on credit cards.

We've got £25k in our joint account and I've got £30k in a savings account from before we started pooling our money.
So we could both be out of work for 2 years if we needed to in a crisis, as we have very low outgoings.

Six months’ fixed expenses. Other savings elsewhere but they aren’t all immediately accessible.

Dont know, you will have to ask my dad as he is my emergency fund.

Basically its a trade off, I dont work anywhere near as much as I could to be a carer for my parents so I have zero savings. So when the washing machine breaks (as it did a couple of weeks ago) he pays for a new one for me. Its not an official agreement as such but when he was starting to really struggle and my mother has an unexpected nasty diagnosis, that was what he offered. To be honest, I would have done it anyway but there have been a couple of occasions where it really has done me a favour as my meagre earnings, plus carers allowance and UC really doesnt add up to much.

ETA - Probably less of an issue as I no longer have a mortgage to pay, so that makes a massive difference I think.

Lol. I had 10 grand 3 years ago but COL and a low paid job have put paid to that. I'm now happy if I have a tenner left before payday.

Emergency fund - 1170
car fund (for all car related expenses) - 35.67 (this was more but I had to send the car to the mechanic)
long term savings- 22,200.