My first EF goal will be 6 months' worth of expenses plus some discretionary if both of us lost our income (not as much as normal, but enough to maintain sanity). A bigger concern for me though is the amount of savings I need for the periodic big picture items (new roof, new car, etc). These items tend to be larger one time events that if left unplanned can spring up at the worst possible time. So my current EF is the money I am saving for things I know will need replacement in the future.
I do have exact numbers because I have a written budget.
|