[EU] How many months savings do you consider enough?
[EU] How many months savings do you consider enough?
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).
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We both work in very precarious fields, so we aim at 12 months of expenses plus cash on hand equal to the single largest machine/system in the house (maybe it's the heat pump, air conditioner, etc for you). I'm happier when we have 18 months in reserve.