Quote:
Originally Posted by maat55
Are you basing your EF on expenses or income? 6k is a lot of expenses. I have my survival expenses to 2k a month. We have reached our 12k EF that covers 6 months for us. 36k will be an outstanding EF.
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I had to double check again our total monthly expenses since I didn't have my spreadsheet in front of me last night.
CORRECTION: Our mandatory expenses is actually $4533 a month based on monthy Net $7533. We spend closer to $6K a month to fund necessary accounts: ROTH/IRA/529/EF/Kids savings account. The remaining $1533 (7533-6000=1533) is our TRUE disposable income. I say that since we have the options to do whatever we want (spend or save) except car repairs so not to dip into our EF. Lately, DW has been on shopping spree with kids cloths for our two toddlers, toys, gifts, etc. Anyway, DW is planning a trip to Asia (just her) next February for couple of weeks so half of that money is saved for that trip. Any other normal months, we really just saved most of that money.