https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Thu, 14 May 2026 09:15:41 +0000 https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-73905 Mon, 13 Feb 2012 17:26:14 +0000 mrs. wagon 73905@https://boards.hellobee.com/ <p>oh my! ever since I became unemployed four years ago we haven't been able to keep much of a balance in our savings account. We've been concentrating on paying down our debt to get our credit to near perfect status for whenever we next apply for a mortgage. Rob Sr. keeps saying we should be saving as well, but I keep brushing him off... I guess he is right! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-73826 Mon, 13 Feb 2012 15:50:27 +0000 Mrs. Jacks 73826@https://boards.hellobee.com/ <p>6 months of living expenses is our floor. We prefer to have a year when we can, but sometime some big life expenses come up (need a car, adoption, etc). </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-73818 Mon, 13 Feb 2012 15:42:29 +0000 plantains 73818@https://boards.hellobee.com/ <p>I personally don't believe in keeping any more than $20K in a savings acount. With current interest rates, that money isn't even keeping up with inflation! I prefer to put the rest in Roth, other investments, 401K etc. Roth is a good first goal beyond savings accounts because contributions can be withdrawn without incurring penalties. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-73660 Mon, 13 Feb 2012 12:06:24 +0000 CameronsMomma 73660@https://boards.hellobee.com/ <p>We both have savings accounts but neither of us have anything in them. I know how bad that is, and we're trying to fix it, but because of bills, loans, etc, it's been hard to set cash away. Especially since Cameron was completely unexpected.</p> <p>Before the hubs moved here I had about 2500$ in savings, and I'd like to ultimately get back to that by this time next year. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-73640 Mon, 13 Feb 2012 11:42:59 +0000 Bao 73640@https://boards.hellobee.com/ <p>This thread hasn't been touched in a while but I just wanted to say good job to all of you who have a good savings! I'm 22 and DH and I only have about $1200 in savings, yikes. Granted, our monthly bills are less than $2,000 a month (on the high end). So after tax returns we should be in a little better position! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-73542 Mon, 13 Feb 2012 09:57:43 +0000 Cchoi4 73542@https://boards.hellobee.com/ <p>I was told (as a single person) that 6 months worth of living expenses was a good goal. With the economy being the way that it is, I think 1 yr is more ideal. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-49729 Tue, 10 Jan 2012 08:41:05 +0000 looch 49729@https://boards.hellobee.com/ <p>Suze Orman recommends 8 months, revised up from her previous advice of 6 months.</p> <p>There are so many factors involved, it's hard to come up with a one size fits all figure. I feel comfortable having 6 months liquid assets with another 6 in less liquid assets. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-49532 Mon, 09 Jan 2012 17:21:26 +0000 tequiero21 49532@https://boards.hellobee.com/ <p>@prettylizy: yeah, i think you should wipe out the debt before you start saving. the only real debt we have is my hubby's student loan and car payments. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-49508 Mon, 09 Jan 2012 16:43:25 +0000 prettylizy 49508@https://boards.hellobee.com/ <p>eek! I'm feeling a little like a slacker. We're working on paying off debt, and have done very well in the last year (wedding, student loans, credit cards etc). We have a line of credit with plenty of room for emergencies, but probably only 2-3K in savings right now. DH is of the mind, why sit on money when we can use it to pay off debt that is growing with interest. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-49496 Mon, 09 Jan 2012 16:24:15 +0000 MrsH 49496@https://boards.hellobee.com/ <p>I believe most financial minded people would tell you 6 months of expenses. We have more because I am a planner/anal. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account/page/2#post-46621 Wed, 04 Jan 2012 20:13:05 +0000 sulli301 46621@https://boards.hellobee.com/ <p>@sorrycharlie: I'm late jumping into this thread but don't feel bad! My husband is 25 &amp; I'm 24 &amp; although we have a significant savings to us &amp; compared to almost all our friends, it isn't what I know/hope it will be in 10 years either! My DH actually works in finance &amp; it's a slow build but we're getting there :) Keep it up!! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-46524 Wed, 04 Jan 2012 18:25:39 +0000 Rainbow Sprinkles 46524@https://boards.hellobee.com/ <p>Well, we don't have a lot of money in our savings account (connected to our checking) but like some other PP's we have lots of money invested and in our 401k. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-46502 Wed, 04 Jan 2012 18:05:39 +0000 birdofafeather 46502@https://boards.hellobee.com/ <p>We're saving up so I can quit my day job and be a FT photographer. Our goal for that is $30K. We have separate downpayment, new car, 401K, IRAs, etc. I'm impressed with the amount that a lot of you have saved already! We're about 1/2 way to my goal! It's great that DH supports me in this so we can continue to save! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-46377 Wed, 04 Jan 2012 15:32:51 +0000 daniellemybelle 46377@https://boards.hellobee.com/ <p>@ktgee04: I would love to put my salary in savings and live off of my DH's salary! That's ultimately my goal, but he needs to increase his income by at least 50% for us to realistically do that... </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-46301 Wed, 04 Jan 2012 14:45:08 +0000 mrsjyw 46301@https://boards.hellobee.com/ <p>We have enough to cover 6 months of both of us lost our jobs. We have about 6K of that in liquid, easily accessible savings for emergencies. I don't like that 6K getting any lower than 5K. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-44006 Fri, 30 Dec 2011 10:25:33 +0000 sorrycharlie 44006@https://boards.hellobee.com/ <p>@sweetchic: I'm also risk adverse! :) </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43914 Thu, 29 Dec 2011 23:24:04 +0000 StbHisMrs 43914@https://boards.hellobee.com/ <p>This thread makes me sick to my srtomach. I'm 28, dh is 33 and after everything we're broke. Both of us have been through a divorce and that is expensive!! When I was 22 and in my 1st marriage we had $20k in savings, we bought a house in his name (which he let go into foreclosure to try and hurt me, another story for another time). My husband has been laid off since October and we've drained our account (he's the money maker, not me). Fortunately my car will be paid off in a couple months and we can put that away in savings! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43429 Thu, 29 Dec 2011 12:47:36 +0000 babyz 43429@https://boards.hellobee.com/ <p>Ideally I'd say $50,000. We live in an expensive city. Also, we rent (not own) so I feel that we should have more in savings since we don't have a mortgage to pay or house things to fix. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43409 Thu, 29 Dec 2011 12:37:03 +0000 banana 43409@https://boards.hellobee.com/ <p>Before we bought our house, we had a ton of in our savings. But that all went into our downpayment so now our savings has greatly dwindled. It'll take time to build it up again and sometimes I feel like we have no money! But my husband always reassures me that our money is in our house so not to worry. It sure was nice when we had a huge chunk of money in our savings account. I never worried about money once. But now it's all I think about. =\ </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43313 Thu, 29 Dec 2011 11:35:45 +0000 Meridian 43313@https://boards.hellobee.com/ <p>We have enough to cover a years worth of living expenses. I am a worry wart and like to have a sizeable chunk in savings, although we periodically drain it (in the past, it was the wedding, and then buying our first condo), and then have to slowly build it up. </p> <p>It's almost time to find another new home since our condo is starting to feel cramped and so I know the savings is going to get tapped out again (and then I start to internally panic, haha!)</p> <p>I feel sheepish to admit this, but we don't know anything about investing so we have no stocks or portfolios (besides an IRA and 401K)... plus I am very risk adverse :P </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43262 Thu, 29 Dec 2011 11:07:07 +0000 ktgee04 43262@https://boards.hellobee.com/ <p>We both just turned 26 and newly married so after we paid our wedding off we got serious about saving. We both are out of school with stable, full time jobs so are pretty blessed to have a decent savings for our age and the amount of time we've been contributing to it. No debt other than DH's student loans helps. Plus renting saves us money and no car payments. Right now we have enough to live off of for 6 months but we'd love to cushion it by at least twice that much. </p> <p>What helps us is that 100% of my paycheck (I'm the breadwinner) goes into savings and isn't touched. We live solely off of DH's salary and refuse to dip into savings unless it's an emergency. It's nice to finally see that savings amt rise!! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43249 Thu, 29 Dec 2011 10:55:17 +0000 tequiero21 43249@https://boards.hellobee.com/ <p>@sorrycharlie: 23 is still young! you have a lot of time to build up to more money! when i was 23, i had negative equity! (tons of credit cards and loans with no real savings). just make sure you have a goal in mind. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43235 Thu, 29 Dec 2011 10:45:29 +0000 MrsBrewer 43235@https://boards.hellobee.com/ <p>@sorrycharlie: DH and I are 23 as well, but DH is a great saver! Plus we have a lot in student loans and we rent (so no mortgage) but we do have a decent amount in our savings, I would say that it would be at least 6 months of living expenses. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43231 Thu, 29 Dec 2011 10:39:37 +0000 Mrs. Yoyo 43231@https://boards.hellobee.com/ <p>^ Exactly! I mean, if you're willing to accept lovingly used stuff, a baby doesn't have to be pricey at all. @sorrycharlie: Do you follow the Baby Cheapskate blog? It can be helpful. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43226 Thu, 29 Dec 2011 10:32:39 +0000 Mrsbells 43226@https://boards.hellobee.com/ <p>Its great to have savings, but I dont think you NEED to have thousands saved up before having a baby. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43218 Thu, 29 Dec 2011 10:27:51 +0000 sorrycharlie 43218@https://boards.hellobee.com/ <p>@Mrs.VW: I don't mean "oh, good!" to sound bad, but...OH GOOD! lol...I keep forgetting that I'm younger than everyone else so I'm all, "oh gosh we're in trouble!" but putting it in perspective helps. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43209 Thu, 29 Dec 2011 10:24:48 +0000 Mrs.VW 43209@https://boards.hellobee.com/ <p>@sorrycharlie: I agree with Mrs. Yoyo, at 23 I'd be lucky to have had $50 in my checking :) I'm 32 now so it's a little different. You'll get there! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43208 Thu, 29 Dec 2011 10:24:05 +0000 sorrycharlie 43208@https://boards.hellobee.com/ <p>@Mrs. Yoyo: aw, thank you. I like looking at it too, we just had to take 700 out for a car repair and I was so sad. although it made me want to pile more in, which was a good thing! </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43203 Thu, 29 Dec 2011 10:22:46 +0000 Mrs. Yoyo 43203@https://boards.hellobee.com/ <p>@sorrycharlie: It takes a while to build. Don't feel bad. I wouldn't have had squat at 23. That said, we have no set amount. I just contribute the same $$ every month and hope we don't have to tap it anytime soon. </p> https://boards.hellobee.com/topic/what-amount-do-you-feel-is-needed-in-a-savings-account#post-43181 Thu, 29 Dec 2011 10:10:22 +0000 sorrycharlie 43181@https://boards.hellobee.com/ <p>wow..this thread makes me feel a little inadequate. We have 2k in savings. DH contributes to his 401k, but at 23, there's no way we'd ever have as much in a savings as some of you guys.</p> <p>we're opting to have a baby before I get started in my career (marriage and family therapist, I will have my MA in may) with all the costs that come along with licensure, working, and child care. we rent right now, because the cost of a mortgage would not allow me to stay home. because of this, we will not have a super high amount in savings. </p>