How much to keep in savings as back-up?

[cheapandcheerful]

We are currently saving up for a big extension on our house and have worked out that we will have enough at some point next year. However if we were to immediately go ahead then it would completely clear us out. So, what is the least amount of money that you would have in your savings account, before you started feeling edgy about it?

3 months worth of salary. This is then enough with being extremely frugal to cover 5-6 months worth of bills.
Dh has been made redundant in the past so my idea of a safety net is probably larger than others.

Least 20k.
More comfortable if it's 30k plus.
It also depends on how quickly you can build it back up. If it's only a few months then I would be ok with knowing it was short term.

Depends how much you earn, what your out goings are, how quickly you can build back up the savings pot. Would also depend what your other options are - Wh are your parents well off and could give you money in an emergancy. Also what critical illness cover do you have, what is sick policy like etc.

I would like to always have 3 months salary as a minimum but feel better with 6. Although it is usual for people after things like a new house, extension to wipe out savings pots.

this is a bit of an unfair question as some people (many people at times) will have difficulty putting anything aside.

After some quite dramatic ups and downs, I prefer to keep enough for 6-months frugal spending. I was once unable to work for a year due to injuries. If you have never been made redundant or worked for a company that went bust you may be less cautious. Until it happens to you.

If you have a partner who has an unfortunate habit you have to keep it out of their reach.

The more savings the better. We have 3 years of salary in savings, I would like more.

We usually have none. Not by choice, but we can't put anything aside.

I'd want at least £10k accessible.

3years pearly!

Really interesting to hear different opinions on this. I think we will try to keep £10k which works out at about 4 months salary between us.

cheapandcheerful it just worked out that way. OH and I are not big spenders, small runaround cars, I'm not into clothes or shoes, most of our stuff is second hand. We do like nice things to eat but otherwise just seem to earn more than we spend.

We are planning for 3months of mortgage and bills. However, neither of us have ever been made redundant or lost our jobs so probably less cautious than others. I know a lot of people who could have no savings

3 years??? That's amazing!

We have about 6 months saved. But are aiming for more. We want to sell our flat and buy a house next year so need as much as possible.

Dh thinks if we try hard we can save £40k by the end of the year. It's doable. I think.