No emergency fund? Here are 21 tips that will help you get started. [Zen Habits]
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I'd like to within a year or two manage to get the magical 3 months salary saved up....we'll see what we can do between the two of us.
Three months salary sitting in a bank seems like such a daunting task, but I know if we manage to achieve this it will allow us the ability to have something to help float us through any turmoil in our lives.
@blitzcat:
Great point. That "third check" is often bigger, too, if deductions for health insurance aren't taken out.
my personal rule of thumb was to save up three months worth of bills, vice actual salary. i suppose 6 months salary would be a better goal.
i guess dropping all of my savings for the down payment on that new car i sprung for a few weeks ago was a shite move. and the $5k for that CISSP training course next week, tho that's more of an investment. good thing those two things are my only debt.
i can't begin to fathom the logistics of one car for a family of 8. i can see its utility if they live in NYC or SF or maybe DC, but anywhere else would be pretty hard.
I didn't see this mentioned...
Many people get paid by their employer every two weeks, so usually thats 2 paychecks per month, 10 months of the year. So you are already forced to budget expenses on a 2 paycheck-per-month cycle.
The other 2 months are when there are 3 pay cycles, I dump the 'extra' paycheck into savings or retirement. Easy.