Do you have an Emergency Fund? And if so, how many months worth of expenses do you have saved?

[queenofthehivemomof5]

Many financial experts recomend having an emergency fund of liquid cash to cover 6-8 months of living expences. So what does your emergency fund cover? Please vote!

[newatthis]

We have a fully funded emergency fund of 6 months. When we get our student loans paid off, we'll up it even more.

[queenofthehivemomof5]

We have 9 months fully funded EF right now. It has been a blessing to feel that our needs would be taken care of should something happen. We have been through a major work accident for my husband 4 years ago and had nothing saved. So having the EF has really liffted a weight off my shoulders.

[chriscree]

We had a year then we had to use some for medical last year. I was in the hospital twice and now am having to meet the deductable again with some other tests. My goal is to get it back up to a year by April.

[jjrogers]

We have one month. we used to have six. So right now we are starting to work on it again. We feel strongly to work on it and on our stockpile.

[melodyjg]

We have at least 8 months of cash to cover expenses....It is soo nice knowing its there in this economy! After we get the taxes paid this year, since unfortunately our accountant gave us the good news yesterday that we will be paying this year!! We will go right back adding to the pot!

[xolesliexo]

I have an emergency fund.. but it's tiny!

I am doing Dave Ramsey's principal however.. and having a small emergency fund and paying off all debt.. after I finish paying off my debt I will build up my emergency fund.. oh what fun :)

[kykidzmom]

We have 3-4 months right now. I am trying to add to it, but we have had over 6K out of pocket in medical this year. Dh would have 16 weeks severance from his job (confirmed at the last round of layoffs), so between the EF, severance and a bit of unemployment we would be ok for about 8-10 months. By this time next year, I'm hoping to have 6 months of savings.

[puakinikini]

We had about 2.5 months before my DH got laid off earlier this year - and the reason I know it was 2.5 months is because that is how long it covered our expenses! We have zero right now but are working on fixing this situation now that we are both employed.

[daisydog215]

If we kept our spending the same, our EF would last about 1.5 months. We could make it stretch to about 3 months if needed. We have been focusing on paying off debt and will build more EF as the debt goes away.