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how much money...

Posted By Message

MrsR
My love.

Member since 5/05

6247 total posts

Name:
Jennifer

how much money...

Do you think you need to have saved up without stressing about it?

Not really looking for a dollar amount - but a percentage of your income - or # of months living expenses...etc....

I always wonder what other people feel is a "safety net" - opinions?

Posted 7/22/05 1:03 PM
 
Long Island Weddings
Long Island's Largest Bridal Resource

Palebride
I am an amazing bakist

Member since 5/05

13673 total posts

Name:
Lori

Re: how much money...

I don't think any amount is ever enough Chat Icon

Posted 7/22/05 1:06 PM
 

LadyMaravilla
Fall Is Here

Member since 5/05

12023 total posts

Name:
Sonia

Re: how much money...

Well, statistics say at least 6 months rent. But I was just talking to DH about money issues. Chat Icon

Posted 7/22/05 1:07 PM
 

Elbee
Zanzibar

Member since 5/05

10767 total posts

Name:
Me

Re: how much money...

well it depends on what exactly you are talking about. I think it may differ for people, but I believe that not only some form of liquid cash is important (savings account), but investments into mutal funds, stock and bonds, as well as 401k, college funds, etc ...

basically what I am saying, the number is A LOT in order for me to feel comfortable, I'm just not sure how much exactly.

Posted 7/22/05 1:11 PM
 

Marcie
Complete Happiness :)

Member since 5/05

27789 total posts

Name:
LOVE being a Mommy!

Re: how much money...

Posted by LadyLainez

Well, statistics say at least 6 months rent. But I was just talking to DH about money issues. Chat Icon



Good things you were talking - me and DH are fighting over it.

I am not sure - many people will there will never be enough - sometimes I feel that way. I just wish we had some.

Posted 7/22/05 1:12 PM
 

Redhead
You Live, You Learn

Member since 5/05

31871 total posts

Name:
Jennifer

Re: how much money...

Posted by Elbee

well it depends on what exactly you are talking about. I think it may differ for people, but I believe that not only some form of liquid cash is important (savings account), but investments into mutal funds, stock and bonds, as well as 401k, college funds, etc ...

basically what I am saying, the number is A LOT in order for me to feel comfortable, I'm just not sure how much exactly.


ditto!
eta...i don't think i will ever NOT be stressing.

Even when you have all of the above...you still can lose it all

Message edited 7/22/2005 1:15:10 PM.

Posted 7/22/05 1:14 PM
 

LadyMaravilla
Fall Is Here

Member since 5/05

12023 total posts

Name:
Sonia

Re: how much money...

Posted by Marcie

Posted by LadyLainez

Well, statistics say at least 6 months rent. But I was just talking to DH about money issues. Chat Icon



Good things you were talking - me and DH are fighting over it.

I am not sure - many people will there will never be enough - sometimes I feel that way. I just wish we had some.



Well, Marcie you're not alone. It's the no. reason why couples fight. DH is more free with the money & I try to spend but I"m more careful. I wish I had alot more too!!

Posted 7/22/05 1:14 PM
 

MrsR
My love.

Member since 5/05

6247 total posts

Name:
Jennifer

Re: how much money...

OK - spinoff
How would you feel if you had
$10,000 in the bank?
$25,000
$50,000
$100,000
$100,000+

at which point woud you feel security? (im talking about cash - not stocks/bonds/home/mutual funds/ira's, etc...)

Posted 7/22/05 1:22 PM
 

sasha96
lovin' my 2 little ladies!

Member since 5/05

7401 total posts

Name:
Julianne

Re: how much money...

I think there will always be some stress over the amount of money saved, because you never know! DH and I feel we need at least 6 months worth to cover bills as a absolute minimum! There is always more on top of that but I wouldn't want to have less than that 6 months worth!

Posted 7/22/05 1:38 PM
 

Bxgell2
Perfection

Member since 5/05

16438 total posts

Name:
Beth

Re: how much money...

It's weird, but with more money in the bank, and a higher salary, I get even MORE nervous... we just doubled our monthly income recently, and so we now have quite a bit saved up in our accounts, but I'm even more anxious than I was before because now I'm so scared of what will happen if either of us loses our job or something happens Chat Icon

Posted 7/22/05 2:25 PM
 

leighla
Support Cancer Research

Member since 5/05

16353 total posts

Name:
Lauren

Re: how much money...

I always want more in savings, but as long as we have three months of mortgage payments in the bank I at least feel secure.

Posted 7/22/05 2:33 PM
 

Redhead
You Live, You Learn

Member since 5/05

31871 total posts

Name:
Jennifer

Re: how much money...

Posted by MrsR

OK - spinoff
How would you feel if you had
$10,000 in the bank?
$25,000
$50,000
$100,000
$100,000+

at which point woud you feel security? (im talking about cash - not stocks/bonds/home/mutual funds/ira's, etc...)



100K i guess

Posted 7/22/05 2:36 PM
 

dm24angel
Happiness

Member since 5/05

34581 total posts

Name:
Donna

Re: how much money...

I would feel "secure" with about $25K in the bank, because its enough for any emergencys and say a lay off or losing a job, its enough to hold us till we got another one.

I would feel VERY secure with more like 50K....but for us it will never happen until we have kids, and it would be towards college, cars etc.

Posted 7/22/05 10:36 PM
 

dooodles
When you wish upon a star

Member since 5/05

11997 total posts

Name:
Because 2 people fell in love

Re: how much money...

Posted by MrsR

OK - spinoff
How would you feel if you had
$10,000 in the bank?
$25,000
$50,000
$100,000
$100,000+

at which point woud you feel security? (im talking about cash - not stocks/bonds/home/mutual funds/ira's, etc...)




50,000 for now
100,000 if we had a house

Posted 7/23/05 11:54 AM
 

neenie

Member since 5/05

22351 total posts

Name:

Re: how much money...

Posted by dooodles

Posted by MrsR

OK - spinoff
How would you feel if you had
$10,000 in the bank?
$25,000
$50,000
$100,000
$100,000+

at which point woud you feel security? (im talking about cash - not stocks/bonds/home/mutual funds/ira's, etc...)




50,000 for now
100,000 if we had a house



i agree.

Posted 7/23/05 12:23 PM
 

pschica
LIF Toddler

Member since 5/05

424 total posts

Name:
D

Re: how much money...

Posted by neeniebean86

Posted by dooodles

Posted by MrsR

OK - spinoff
How would you feel if you had
$10,000 in the bank?
$25,000
$50,000
$100,000
$100,000+

at which point woud you feel security? (im talking about cash - not stocks/bonds/home/mutual funds/ira's, etc...)




50,000 for now
100,000 if we had a house



i agree.



before my heart beats out of my chest....does anyone who has a house have that much saved??? (or are dh and I the only ones who don't???)

Chat Icon Chat Icon

Posted 7/23/05 12:27 PM
 

MissJones
Incredibly blessed

Member since 5/05

21379 total posts

Name:
and grateful!

Re: how much money...

I've always been one to have at least 10K in the bank. As a young single woman, that was good. As I got older, the number got higher. With a prospective purchase in sight, our savings will be wiped out. And for a couple of months, too. That makes me feel so nervous. But we can always make more money. When we get settled, savings will increase. WHat dollar amount will make me feel safe? Right now, with no kids, 30K. When we have kids, a lot more!!!

Posted 7/23/05 12:28 PM
 

mrjune262004
LIF Adolescent

Member since 5/05

512 total posts

Name:
Michael or if mom Micheal

Re: how much money...

bill gates bank account would be a good startChat Icon Chat Icon

Posted 7/23/05 12:36 PM
 

saraH
happy birthday sweet kate!

Member since 5/05

16555 total posts

Name:
I know that God exsists, I held her in my arms...

Re: how much money...

i don't think there is ever too much money. if we had 100k in the bank, right now, i'd feel secure if something were to happen.

Posted 7/23/05 12:47 PM
 

Scotty-CassidysMom
and Dylan too!

Member since 5/05

4331 total posts

Name:
Stacy

Re: how much money...

Posted by pschica

Posted by neeniebean86

Posted by dooodles

Posted by MrsR

OK - spinoff
How would you feel if you had
$10,000 in the bank?
$25,000
$50,000
$100,000
$100,000+

at which point woud you feel security? (im talking about cash - not stocks/bonds/home/mutual funds/ira's, etc...)




50,000 for now
100,000 if we had a house



i agree.



before my heart beats out of my chest....does anyone who has a house have that much saved??? (or are dh and I the only ones who don't???)

Chat Icon Chat Icon




Ummm, not even close! More like $100Chat Icon

Posted 7/23/05 1:03 PM
 

MamaNDaddyof3
:)

Member since 5/05

7267 total posts

Name:
Mommy

Re: how much money...

there are people who enjoy the money and buy nice things and then there are the people who save save save and dont have nice things but have $$$$$

which is better? the stuff or the cash?

We clip coupons and dont buy things unless they are on sale the kids have everything they want and we basically do too.
I will not buy my children toys everyday (though they have a basement filled with them)

If one of us wants something we discuss it and then decide.......we have money in the bank but both are trucks are 1997 and have over 100,000 miles on them

Posted 7/23/05 1:10 PM
 

hazeleyes33
LIF Adult

Member since 5/05

13060 total posts

Name:
Ginger

Re: how much money...

I don't know about everyone else but we have a house and 2 kids and almost nothing in savings (unless you want to count 401K). We make under $100,000/yr. and have one in daycare and the other after care/summer camp. Once my son is in school, we will have an extra $500/month. I am sure we will find something for that though, like a new kitchen that I would like to get soon and better cars.
We could never save tons of money like some people. I like having new clothes (not expensive, but new) and having cars that I know will not break down. I can't go down that road anymore with 2 kids.
Please help me in letting me know how I can save money too!! Thanks!

Posted 7/23/05 3:59 PM
 
 

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