Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

How much does your family have in savings?

Posted by on Jan. 31, 2015 at 9:55 AM
  • 46 Replies

I have been told:

1). You should have enough in Savings to pay all bills in household for 6 months

2). You should have enough in Savings to pay all bills in household for 1 year

3). You should have 3 times the amount of your last emergency in Savings

4). You should a minimum of $20,000, in Savings


What does your family do?



by on Jan. 31, 2015 at 9:55 AM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-10):
tapies2324
by Member on Jan. 31, 2015 at 9:57 AM
3 moms liked this
I pray that we get by.
Molimomma
by on Jan. 31, 2015 at 10:00 AM

Currently we have an amount equal to 1 month's income plus a little more. That would cover all our household expenses for 1 month. I can't imagine having $20,000 EXTRA stored away in savings but impressed with those who've done it.

happywifey08
by on Jan. 31, 2015 at 10:02 AM
1 mom liked this
Right now nothing, we wiped it out moving and had a rough winter. Our short goal is to get 3 months in savings which would be $7500.
SRL_45
by Member on Jan. 31, 2015 at 10:07 AM
1 mom liked this

Right now 0 lol to due to lawyer fees but we try to have at least 3 months to live off of. 

Leigh84
by Gold Member on Jan. 31, 2015 at 10:27 AM
1 mom liked this
Right now, nothing. We have debt we are trying to pay down :-(
runinpinkshoes
by Gold Member on Jan. 31, 2015 at 10:27 AM
1 mom liked this
We're doing the snowball thing towards debt and saving only a small amount until the debt is paid off.

Ideally, I think people should have 3 months of living expenses in savings, but the more the better.
runinpinkshoes
by Gold Member on Jan. 31, 2015 at 10:30 AM
1 mom liked this
People like you make me feel very far behind in life, lol. I'm jealous! :)

Quoting RedMom755:

around $45,000.00 in savings/money market. About $200,000.00 in retirement

Valentina327
by on Jan. 31, 2015 at 10:35 AM
Nice!
bklynmama716
by Member on Jan. 31, 2015 at 10:38 AM
65,000..
USBrit
by Silver Member on Jan. 31, 2015 at 10:40 AM
4 moms liked this

 Kind of a personal question, but let me say this. In my 20's lived paycheck to paycheck, in my 30's started to save quite a bit, in my 40's continued to save, in my 50's have a comfortable cushion, not huge, but comfortable. I think that different stages of our lives produce different results if we work towards a goal

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)