Comments on: What’s your number? http://www.punchdebtintheface.com/2009/11/whats-your-number.html A less crappy personal finance blog Sat, 20 Mar 2010 06:26:05 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Lydia aka Ms. MoneyChat http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1766 Lydia aka Ms. MoneyChat Thu, 12 Nov 2009 18:32:58 +0000 http://www.punchdebtintheface.com/?p=215#comment-1766 My initial goal was 6 months of living expenses. I currently have 6 - 9 months (the time frame depends on what discretionary items I include or exclude in the monthly budget). Ideally I'd like to have 12 months of living expenses, to include certain discretionary items that I would like to maintain as a part of my life;-). In total those discretionary items are about $200 - $400 a month. .-= Lydia aka Ms. MoneyChat´s last blog ..<a href="http://mymoneychat.blogspot.com/2009/11/5-benefits-of-great-exodus.html" rel="nofollow">5 Benefits of the Great Exodus</a> =-. My initial goal was 6 months of living expenses. I currently have 6 – 9 months (the time frame depends on what discretionary items I include or exclude in the monthly budget). Ideally I’d like to have 12 months of living expenses, to include certain discretionary items that I would like to maintain as a part of my life;-). In total those discretionary items are about $200 – $400 a month.
.-= Lydia aka Ms. MoneyChat´s last blog ..5 Benefits of the Great Exodus =-.

]]> By: SingleGuyMoney http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1749 SingleGuyMoney Wed, 11 Nov 2009 23:51:25 +0000 http://www.punchdebtintheface.com/?p=215#comment-1749 My number is extremely high compared to some of the comments above. I am currently aiming for $50,000 in savings/emergency fund. I'm currently at about $35,000 so I have a little way to go. Once I hit $50,000, I will be shooting for $75,000. I don't want to have a need to borrow money again. I have a mortgage so I don't need anything else to be financed. Having a large savings account means I can self finance anything I need. My number is extremely high compared to some of the comments above. I am currently aiming for $50,000 in savings/emergency fund. I’m currently at about $35,000 so I have a little way to go. Once I hit $50,000, I will be shooting for $75,000.

I don’t want to have a need to borrow money again. I have a mortgage so I don’t need anything else to be financed. Having a large savings account means I can self finance anything I need.

]]> By: Anonymous http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1746 Anonymous Tue, 10 Nov 2009 22:43:46 +0000 http://www.punchdebtintheface.com/?p=215#comment-1746 My EF is $5,000 in my online bank and I have a $1,000 buffer (emergency emergency fund?) in my normal bank. I like this number, but I currently have a wedding, house and Roth fund. I think my actual 'number' would be more like $10,000 because I know I could use my other funds if I absolutely needed to<br /><br />Courtney My EF is $5,000 in my online bank and I have a $1,000 buffer (emergency emergency fund?) in my normal bank. I like this number, but I currently have a wedding, house and Roth fund. I think my actual 'number' would be more like $10,000 because I know I could use my other funds if I absolutely needed to

Courtney

]]> By: Duddes02 http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1745 Duddes02 Tue, 10 Nov 2009 19:12:38 +0000 http://www.punchdebtintheface.com/?p=215#comment-1745 $15,000- which is 12 months of expenses.<br /><br />I was unemployed and I had $1730 a month on UE insurance-which covered everything for the month.<br /><br />My savings fund would be for a case where I don't get UE insurance (traveling..etc)<br /><br />It'll take me about 7 months to save the 15k and then I will be quite happy $15,000- which is 12 months of expenses.

I was unemployed and I had $1730 a month on UE insurance-which covered everything for the month.

My savings fund would be for a case where I don't get UE insurance (traveling..etc)

It'll take me about 7 months to save the 15k and then I will be quite happy

]]> By: RainyDaySaver http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1744 RainyDaySaver Tue, 10 Nov 2009 16:59:12 +0000 http://www.punchdebtintheface.com/?p=215#comment-1744 I like the 6 months' worth of expenses number for my savings -- which will be about $20K. We're only 1/4 of the way there since we just started, but we'll get there. And then probably keep saving past that number! I like the 6 months' worth of expenses number for my savings — which will be about $20K. We're only 1/4 of the way there since we just started, but we'll get there. And then probably keep saving past that number!

]]> By: graduatedlearning http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1743 graduatedlearning Tue, 10 Nov 2009 16:54:34 +0000 http://www.punchdebtintheface.com/?p=215#comment-1743 I sort of subscribe to the "whatever the F you want" plan...in the "saving way too much" direction. I think my theory has been that I just keep saving. I just started a separate savings account for a down payment, but I still probably have way too much in my "emergency fund"...but I guess emergency can mean job layoffs, medical bills, or other unexpected financial hits. I sort of subscribe to the "whatever the F you want" plan…in the "saving way too much" direction. I think my theory has been that I just keep saving. I just started a separate savings account for a down payment, but I still probably have way too much in my "emergency fund"…but I guess emergency can mean job layoffs, medical bills, or other unexpected financial hits.

]]> By: Jessie http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1742 Jessie Tue, 10 Nov 2009 16:11:37 +0000 http://www.punchdebtintheface.com/?p=215#comment-1742 To qualify my answer - I have no-mortgage at present.<br /><br />I have *nearly* $1,000 in an emergency fund and am currently building a joint Efund with my partner, Jordan - in about a years time we'll have $1300 in that account in addition to my $1,000.<br /><br />I would like to have $10,000 - but it's not realistic right now. I want to pay of my student loans, and save up to buy a house - so the $10,000 mark just isn't a priority right now. To qualify my answer – I have no-mortgage at present.

I have *nearly* $1,000 in an emergency fund and am currently building a joint Efund with my partner, Jordan – in about a years time we'll have $1300 in that account in addition to my $1,000.

I would like to have $10,000 – but it's not realistic right now. I want to pay of my student loans, and save up to buy a house – so the $10,000 mark just isn't a priority right now.

]]> By: Investing Newbie http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1741 Investing Newbie Tue, 10 Nov 2009 16:01:54 +0000 http://www.punchdebtintheface.com/?p=215#comment-1741 I have one savings account that doubles as my emergency account. (Does not include my retirement account) I rarely dip into my savings. I just keep have enough cash to spend. If I run out of that cash, then I'm SOL because my Savings is NOT linked to my checking and I have to write my bank a letter to withdraw.<br /><br />I need that type of discipline. HAHA.<br /><br />Currently I have $7,200 in this savings. I don't have an ideal number. But I really am going to start thinking of one. Currently the game plan is to invest $5,000/yr in the market and after that, save the rest. <br /><br />The best thing would be to find a ratio of how much you should have saved relative to your income/debt (I have no mortgage related debt) and try to target that amount.<br /><br />PS I heart Financial Calculators too. Go on CNBC and click on the Personal Finance tab. FILLED with Calculators. But don't blame me if you lose a whole 2 hours... I have one savings account that doubles as my emergency account. (Does not include my retirement account) I rarely dip into my savings. I just keep have enough cash to spend. If I run out of that cash, then I'm SOL because my Savings is NOT linked to my checking and I have to write my bank a letter to withdraw.

I need that type of discipline. HAHA.

Currently I have $7,200 in this savings. I don't have an ideal number. But I really am going to start thinking of one. Currently the game plan is to invest $5,000/yr in the market and after that, save the rest.

The best thing would be to find a ratio of how much you should have saved relative to your income/debt (I have no mortgage related debt) and try to target that amount.

PS I heart Financial Calculators too. Go on CNBC and click on the Personal Finance tab. FILLED with Calculators. But don't blame me if you lose a whole 2 hours…

]]> By: me in millions http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1740 me in millions Tue, 10 Nov 2009 15:31:38 +0000 http://www.punchdebtintheface.com/?p=215#comment-1740 $10,000. It's probably about 6+ months worth of expenses. I don't know where I came up with that number, but it just sounds good to me. Lots of zeros! :) $10,000. It's probably about 6+ months worth of expenses. I don't know where I came up with that number, but it just sounds good to me. Lots of zeros! :)

]]> By: SavingDiva http://www.punchdebtintheface.com/2009/11/whats-your-number.html#comment-1739 SavingDiva Tue, 10 Nov 2009 15:31:30 +0000 http://www.punchdebtintheface.com/?p=215#comment-1739 I have several types of savings accounts (around $11k in savings)--emergency fund, car fund, travel fund, etc. I think I need about $10k in my emergency fund to feel secure. Right now I have about $6500. I have several types of savings accounts (around $11k in savings)–emergency fund, car fund, travel fund, etc. I think I need about $10k in my emergency fund to feel secure. Right now I have about $6500.

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