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How much money should an average person keep in a savings account?


I'm talking about a regular, every day savings account - not including investments or 401k or any of that type of thing.

enough to cover 3 to 4 months of expenses

depends how old you are maybe if your in your 30s your probably working on financing a new car or house so you wont have any money but 5 thousand is good for backup

I have always heard , enough to pay your bills for three months in case you lost you job.

1000 per yr per every year of your life, however due to inflation and the cost of living make that 2000 for every yr of your life

I usually keep a couple million or so, but lately it's been less.

people usually keep about 10-20 thousand$ in U.s.a

3,000 to 5,000

Always keep about 3 months worth of expenses in a cash or money market account in order to cover emergencies.

I have heard enough to live for three month - in case you lose your job - you should be able to find one in three months

At least three months of housing payments and regular essentials

A year of salary.

Top 4 Answerer in Business & Finance. (Vote for me. I only need 100 more votes)

None.

Your money will do more for you in a good investment. Just make sure you can sell your shares and get the money reasonably quickly, in case you ever lose your job. For the sudden expenses, like car repairs, use a credit card.

Enough for beer and ciggies and maybe the occasional root

I've heard you should strive to save 10% of your salary.
Check out www.bankrate.com to see what sorts of accounts in your state will give you a higher yield (APR).

5% - 10% of your income every month goes to saving.

1000-2000

2 months expenses.

You say my I'm pissing my stepmom off just by being there? Based on your point of view, I feel sorry for your stepson.

3-6k, if you don't have a home or car.
5-10k if you have car.
10-20k if you have a average home mortgage.

Sometimes unfortunate things happen in sequence, eg: lost job followed by car breakdown and broken house windows.
Just prepare for the worst, and only you know exactly how much.

depends...If you start at twenty and put $100 in every month till you turn forty then leave it alone till you turn sixty, you should have damn near a million dollars.

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