I just did a rough calculation of all my bills and such and what it would take if I ever had to pay Cobra again and how much food and fuel I would need at a minimum to get by for a month. My EF is funded at just over 12 months. If I ran out of that, the money in my vacation fund and the money set aside each month in another account to pay quarterly taxes could be consumed and that could provide another month of two. I really don't ever think in terms of 3 months or 6 months or 12 months, I just know that I'm comfortable with what's in there and that I don't contribute to that account anymore. Plus, the 'number of months' varies depending on obligations/debt that I have taken on. For example, I am currently in a two-year loan on my car. That will be paid off in eight months which will in turn make a difference in how many months my EF will cover. But I really don't think in terms of how many months I have. I guess the only time I do ever think about it is when I take on new debt. I always consider the impact a new payment would have if we were to lose both jobs.
By the way, in my household we have both gone through periods of unemployment; once for 7 months, once for 6 months, once for 1 month between the two of us.
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