Personal Finance

3861 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 2 years ago

MODERATORS

[email protected]

[EU] How many months savings do you consider enough? (lemmy.world)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

21 comments fedilink hide all child comments

As the title says I am trying to see where people stand on this. Obviously this is all personal preference. But that is what I am after.

After depleting our savings when buying our apartment 2 years ago, we’re about to cross 6 months liquid savings in just plain old savings account with ability to immediately withdraw money.

(To clarify that is 6 month assuming 0 income, which is very unlikely given the social system of our country - so realistically we have even more in savings.)

As you can imagine, the interest in this account is not great, so I want to set a limit as to when we stop dumping every spare penny into the savings account and begin doing other things (likely try to invest).

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 1 year ago

You forget that I have a buffer of 3 months plus I live in Europe, so the money I will receive for unemployment would help me to further extend my financial cushion. I can create a standing order with a limit and only sell some ETFs if the price is reached, in order to reduce the financial losses.

Plus if I invest my money in ETFs long enough I would most certainly always be on the plus side.