Do you have the recommended 3-6 months of expenses set aside?

United States
January 3, 2013 8:51am CST
It is recommended that we have at least three to six months of living expenses set aside. We are suppose to add up all of our expenses for one month and multiply that by three or six. And in between that price range is how much we should have for our emergency fund savings. That is a lot of money! It's going to take me 3-6 years to save that much if not more! I'm trying though. It is hard to do but I'm working on it. I know that I will feel better about it when I'm actually able to have that much in savings. I've got a ways to go though.
1 person likes this
3 responses
@cher913 (25895)
• Canada
3 Jan 13
i wish we could afford to do that but we pretty much live paycheque to paycheque these days. we also have a daughter in college and one in highschool too. i work for a not for profit so i don't make a lot and neither does my hubby.
2 people like this
• United States
3 Jan 13
I understand what you mean. We are the same. It will literally take years for me to be able to have that type of money set aside. It would be nice we could all make a decent amount of income and be able to set aside money for that rainy day. They always come when we never have the finances for them.
• Jacksonville, Florida
3 Jan 13
I wish we saved money in the past because now that my husbands out of work we could sure use that money! But we didn't. I like to save but my husband likes to spend so that makes things a tad bit difficult. Once my husband does start working again, which I hope is soon we will definitely be saving whether he likes it or not because I am sick of struggling the way we are now!
2 people like this
• United States
3 Jan 13
Same here. We never saved in the past.After all the craziness of this past summer. It has become a priority in my book. When we had to move out of our old place we were not financially prepared at all. Almost five months later we are still struggling from all the expenses and back bills of that move and trying to catch up. I know I do not want to have to go through that again. I hope your husband will find work again. And I hope you will be able to get a good savings set aside for you and your family. I know the feeling of being tired of struggling. I have to start viewing everything like I have to "sacrifice the things I want know for what I might need later." It is hard but I'm working on my attitude of how to view my finances.
@rosekiss (30152)
• Eugene, Oregon
3 Jan 13
It is hard for me to save, as most of the money that I get from my fixed income, is used on my bills, and I have plenty fo them too. What I make oline is not enough to do anything with, let alone pay my bills. I am hoping someday, to make more money so that I can have extra money to live on and pay my expenses. With the economy being what it is, saving just doesn't seem to be in the cards, but I am sure not going to give up, as I do enjoy making money online, no matter how small the amount is. Take care, and have a great day.
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