For some people it may be a matter of course, for others it is useless. Do you have a financial reserve? If so, how much/many months? I used to be on 4 and thanks to covid, I prefer to set it at six months.
For some people it may be a matter of course, for others it is useless. Do you have a financial reserve? If so, how much/many months? I used to be on 4 and thanks to covid, I prefer to set it at six months.
If I were to calculate this on monthly income, I would currently have about 3-4 months income to spare.
Nice work. 👏
I personally keep my reserve higher due to unplanned deals/expenses etc. Anyway If I leave out work life, I keep my personal life to a near minimum.
Those 3 month etc rules on a savings account go for those who can't or won't invest, if you have investments that you can sell if needed, with varying liquidity, typically stocks for a few days to real estate for a few months, you don't need any cash poorly interest bearing reserve. The usual minor snafus in the tens of thousands are solved by a credit card.