How Much Cash Should I Keep in the Bank?

Loading...

Thanks! Share it with your friends!

You disliked this video. Thanks for the feedback!

Loading...
Added by admin
15 Views
Beyond your monthly living expenses and discretionary money, the major portion of the cash reserves in your bank account should consist of your emergency fund. The money for that fund should come from the portion of your budget devoted to savings – whether it's from the 20% of 50/30/20 or from Ramsey's 10% to 15%.

How much do you need? Everybody has a different opinion. Most financial experts end up suggesting you need a cash stash equal to six months of expenses: If you need $5,000 to survive every month, save $30,000.
Category
Money in the bank

Post your comment

Comments

Be the first to comment