Do you have a ‘f**k’ off fund

[Jay36]

Was talking to a few friends today about the idea of having a ‘f**k off fund’ after seeing this idea going round on social media.

The idea is that you have enough money saved that you can easily access to give you the opportunity to say ‘f off’ if you hate your job and just need to quit/if your relationship isn’t working out and you just need to leave.

Think it’s a good idea but how feasible it’ll be for most is questionable? What about you? Do you have a ‘eff off fund’

Yes had one for nearly 30 years now. Originally it came about because my DM was stuck in an abusive marriage and I swore never to be that vulnerable.

Just sounds like savings really. Yes, it's a good idea to have savings. How much depends on how much one can afford.

Well I could afford to leave either my job or my husband tomorrow, but I'd be pushed to do both at the same time. Fortunately I'm very happy with both of them.

Yep my grandma told me to have one when I was 13. Only in my name/my account, about 25k.

Isn't that the idea of having savings in the first place? Safety net/independence?

Yep, an insurance just in case I need it.

Well I have an emergency fund, and I've based my pension contribution rate on retiring early. So sort of I guess.

I read recently that 'saving half your salary means that for every day you work, you also buy one day of financial freedom'. Which did make me think about trying to up the % we are saving each month!

Yes absolutely. Saw how my mum (stay at home) struggled when my dad left. Would never not work and have always had savings in my name to use as needed

Yes, it's just savings

erm a normal savings account.

I’d not call it a fuck off fund but I’m financially self sufficient and have my own savings, so if I ever wished to walk I could.

I have about 1k in an ISA and credit cards I could use if needed, so I could run away from my marriage if I had to.
I could walk out of my job and get another tomorrow, so that's not much of a worry.

That moment when you realise that yeah it’s just savings

Not new, I’m in my 50s and my grandma advised me that all women should have a running away fund. She was born in 1908.

Yep, and I used it once to get out of a job I hated

Used the cash to tide me over as I started a business from scratch (you earn less than nothing at that stage) and about £5k on capital equipment costs

Never looked back

It’s not just savings though is it?

It’s savings you dont disclose to your partner, and keep separate from family money?

I’m a LP so a fuck off fund would be rather hard on my DS but I am trying to build up a buffer in case of job loss etc. Just enough to buy me 3 months, which I think is worst case scenario in terms of finding a new job etc.

We have a joint savings account, if one of us had to leave our job in a hurry it could keep us for a while.

I don’t have a separate savings account, keep meaning to set one up! But I do have a terrifyingly high credit limit which means that if me and the kids needed to do a moonlight flit, we could manage it comfortably. Not planning on that (and in any event I’m the only one with access to the savings because DH hasn’t managed to set up online banking for it ) but it’s always at the back of my mind that I have access to borrowing very quickly if I need it in an emergency.

It’s a great idea. I buy £500 in shares every month.

I have an emergency fund separate to other savings. It’s not really a fuck off fund, it’s an emergency fund. The other savings accounts are holiday, Christmas/birthdays, car, house, vets.

Yes I do but I call it my freedom fund. It doesn't have to be to fuck off from a relationship, it just give you options. Freedom to walk from a job that is causing you stress / making you miserable. Walking away from a relationship. Moving house at short notice etc.

I have 6 months income saved now but am adding to it. I realise not everybody has that option but I do think everyone should realise how important it is to have a "pot" that you (and only you) can access in an emergency.

Yup I’ve had one for years. I call it the go fuck yourselves fund.

Agree this is just savings? 😕

Although I like the sound of “freedom fund” merlinsbulter it’s a bit more positive :D

Yep, my goal was always to be financially free. I'm terrible at employment, my face doesn't fit, so it's always been necessary.

@RedCandyApple

Agree this is just savings? 😕

It’s savings with a specific purpose.