How much do you keep in your savings account?

17 comments

1. 7k everything else goes into retirement

2. We currently have roughly 6 months of expenses in savings. We chose this amount in case one of us loses our job or in the case of unexpected expenses/emergencies, etc.

   I will point out that we are pretty fortunate and have other assets that we could dip into if shit really hit the fan. But have about 6 months strictly in savings.

3. Ideally at least 3 months worth of expenses. But lately every time I get about a months worth of expenses saved up, something fucking happens that costs me most of my savings. Been a vicious cycle for about two years now. Too many emergencies, car break downs, and random shit like the water heater leaking all over the place. It’s rough. But ideally 3 months worth of expenses in savings at least.

4. Savings- As much as I can, once I contribute to retirement, IRA, etc.

   Checking – Enough to cover 3 months expenses.

5. Depends on which one. One has around $14k, one around $8k, one around $3.5k.

6. Right now? Zero. Aggressively paying off debt as much as possible, and my mortgages combined equal $6k a month..

   When my other house sells then I’ll go back to stacking money away for emergencies.

7. Mine is about 5K, hers is about the same, our shared is around 15K. Checking are around 2K each & maybe 10K in the ‘house’ account. The rest is retirement.

8. Savings account? $1. Checking account, between $400 and $1400 depending on when bills were paid.

   My philosophy doesn’t matter in this case, that’s the best I can do.

9. 12k in my bank account, 63k in investments.

   I like having enough to cover any big surprise payments, or to keep me going for 6 months where I (hopefully) won’t need to touch my investments in case of an emergency.

10. Around 4.5 months of expenses. Looking to grow it to 6 months.

11. 0

12. Nice try IRS. I know it’s tax season. I’ll get around to it

13. All of it..

14. Right now, it is about $1500 for emergencies. But thats because every other extra penny after bills/necessities goes to pay off credit cards I ran up as a young Marine of 18-20 years old. For reference, I’m 30, I own my house and have a reliable vehicle and basic creature comforts. I haven’t used a credit card in 7 years. I still owe a little over 10k. Luckily, I should have them paid off no later than the end of this year. Then, I’d like to target having at least 10k in savings.

    Credit cards are the devil, don’t ever use them. If you must, lock the limit to like a thousand dollars max.

15. I don’t have a regular savings account. Money goes into checking to pay bills, bonuses go into a money market account, everything else goes toward retirement.

16. Far more than I should at the moment. I really should have that money working for me somewhere else. When I finally do move that money to some other vehicle, I would probably leave about 3 months expenses like you’re saying. I already max out a 401k and a roth, so I’ve just been a bit lazy on figuring out the next place to put money. Sometimes I think I should just pay off my car so I stop paying interest on it. It would be a better use then what I’m currently doing.

17. Zero, my wife doesn’t understand budgeting and has us in a shitty poor setting of living paycheck yo paycheck.