To ask honestly...do you have 3-6 months savings or more?

[sweepeep]

Based on a few threads going around...

Do you have enough savings for 3-6 months or more? Honestly...

We currently have 15 months worth

We have 3 months worth of combined salary.

However, it would be enough to live on for about 8 months, because we could stretch. Maybe 6 months, if prices keep rising.

Usually, yes. Currently, no, due to a house move. Problem should be sorted soon though.

Yes, however our mortgage is interest only, so I put money in an ISA when I can to build up the amount I need to pay back. So yes there is money but I shouldn’t spend it.

Crap pension too 😩

No other savings

Yes

Honestly yes we have always had at least a years savings . Ofset mortgage really helped with this

Yes and no.

Yes in that I have savings of about 4 months expenses. No in that I only have £2,000 of that as a designated emergency fund which is about one month.

The rest is for stuff I want to do around the house I’m afraid. Life is for living too.

We do now but only due to a small inheritance. Before then lucky if we had a months worth.

Yes, more than that but it’s dwindling as I’m in the last few months of mat leave.

Yes, we had built 4 months worth over a long period of time whilst I was finishing up paying student debt. Now we have 6 months of outgoings (rather than full income) in instant access cash, plus pots of savings for annual expenses. The rest of our savings are invested.

We started out with spreading annual bills out with paying into pots (say car insurance was £1200 average we would put away £100 a month into a pot specifically for this). Then gradually built up the emergency fund. Little by little it gets there, just having something saved away was a triumph at first.

Yes but it took years to get there.

Yes but i have worked towards having very few outgoings which i feel gives me much more security and resilience for anything that might happen than savings.

Yes. More than that.

Just about 3 months. Some Will be spent soon but we save every month. We’re not too strict about keeping a big buffer as we both get good sick pay, I cannot be made redundant and it’s highly unlikely my wife would be. Both have critical illness cover too. We’re very fortunate.

We have about 2 months but easy access to a lot of credit if we desperately needed it and a mortgage free house. We do tend to live on a bit of salary knife edge month to month though…!

Yes

Yes. Quite a bit more. I won't make any big purchases unless I've got enough for them plus at least 6 months of savings. Can't remember a time when I haven't had that much since I started working full time. And I've never been a high earner either so it's not something that's come easy to me, just something I've always prioritsed.

Am on another thread and am honestly shocked at the amount of people saying "just stick it on a card" for a holiday when op has already said they have no money left over at the end of every month. I would struggle to sleep if I didn't have a buffer and had debts I had to pay,but everyone's different!

Yes. Between us we pay just over £2000 into our joint account each month which covers our mortgage, car payment, bills, and food shopping.

We have around £10000 saved between us, so we could cover the essentials for 5 months if we needed to.

We have about a years worth of expenses in easily accessible accounts should we need it, but we obviously have a lot more than this saved but in ISA's or pensions which we are going to leave untouched until we retire in 20/25 years.

Got enough for 1 month atm. Spent many years with more debt than anything though, took ages to build up a cushion.

I have about 3 months worth but likely to be spent soon on moving costs.

I used to be able to save loads, then had a baby and returned to work part time with the added childcare costs.

I try to save at the beginning of the month but usually end up taking it out again by the end 🤣

Yep but we didn't save it. My inlaws died 10 years ago and left dh some money. Half of it is in an obscure building society that is in a place We live 100s of miles away from.
That is our emergency money. Never needed to touch it yet and it would keep us going acouple of years.

No....and I am extremely careful with money but haven't got a pot to piss in at the moment. Only debt we have is mortgage and a very small CC. Just when you think "ooh I can put that in savings" something else crops up. Soul destroying. 😔

Yes, we do have good savings, but I find this thread a bit odd tbh. Why would you start a thread like this if you personally have plenty of savings put by for a rainy day? It seems to me that the only real motivation for asking the question in your situation is so that you can feel smug and superior when many people inevitably come back and say that they don't have much at all.

Some people simply don't earn enough to save. And that's really fucking hard, especially in the current economic climate. They really don't need self satisfied savers making them feel even worse about how little of a buffer they have.

Yes, but that has certainly fluctuated over the years. We had a big nest egg when we first got married, but then drained the lot when we bought our first property. We spent the next 3 years rebuilding that fund. Then we moved and bought a family home, and once again completely drained the emergency fund. It is now back up to where it was, 4 years after the purchase, so we can relax a little. We try to keep 3 months of expenses in easily accessible cash. Now that the fund is rebuilt, we’re able to max out pension contributions and can work on beefing up our Vanguard S&S ISA allowances. The ISA is our long term savings (10-15 year horizon) for future expenses such as children’s university.