Joint Emergency Fund Goal
Now that Jordan and I joining our financial selves, we will have to look at some of our goals jointly. The first goal we looked at was our emergency fund. It currently has just over $500. Here is a picture of what jordan and I need to survive each month.
We have set our goal at two months essential expenses. This is because it is so so so unlikely that we would both lose our jobs at the exact same time, given that we are in very different industries. We also have other goals in mind right now, like saving to buy a house. Once we have $5,000 set aside - we can look at this again.
I think $5000 is a reasonable number, too. It looks like you could survive, if necessary, on one income.
ReplyDeleteGood plan! I wish I had had this discussion and plan when my hubby and I joined our money back 13 years ago. What a difference it would have made to have a realistic plan! Good for you!
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