If you were to lose your job tomorrow, how long would your savings last you?

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  • TBC15
    TBC15 Posts: 1,452 Forumite
    First Post First Anniversary Name Dropper
    edited 15 November 2018 at 5:28PM
    eskbanker wrote: »
    "couldn't see, hear, speak any longer" seems fitting too ;)
    :t:t:t:t:t:t
  • JoeCrystal
    JoeCrystal Posts: 3,013 Forumite
    Name Dropper First Anniversary First Post
    I would say nine months before I run out of money. So here is hoping to never lose my job!
  • ndf9876
    ndf9876 Posts: 404 Forumite
    Name Dropper First Anniversary First Post
    Just me or just my partner - indefinitely (albeit with cuts)
    Both my partner and I - 4 months with no changes in lifestyle before we would have to look at remortgaging / selling up / selling cars etc. Could probably stretch that to 6 months if we made serious cutbacks.
  • Flobberchops
    Flobberchops Posts: 1,279 Forumite
    First Post Combo Breaker First Anniversary
    If I were to immediately put the brakes on savings and investments, I could eke an existence for about 2.5 years. Longer if I liquidated existing non-cash investments.
    : )
  • Ray_Singh-Blue
    Ray_Singh-Blue Posts: 507 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    For the purposes of this, dare I say, rather pointless thread- lets imagine that RSB lost his job tomorrow.

    If he had enough savings to live off for the rest of his life, then would he be working as a keyboard monkey today?

    I think not.

    He'd be on the beach in Mexico with a Pina Colada in one hand and the Girl from Ipanema in the other.

    So - newsflash - RSB needs to work.

    This mean he only needs enough savings to bridge the gap between losing one job, and finding another.

    How long will that take? A week? A month? Two?

    Either way, he's good. So nothing to see here. About your business.
  • JackeeBoy
    JackeeBoy Posts: 229 Forumite
    I've been Money Tipped!
    2, maybe 3, months.... I have had a very expensive few years.

    All my savings went when we purchased my house. 9 months later I built up £10k then that went on a wedding. Saved a decent £6k in the 7 months after the wedding before my wife stopped working for a year after as she gave birth to our child. By the time she went back to work, only had about £2k left in savings. Now my son goes to nursery full time which cost around £1200 a month meaning that we only get to save money if we get a bonus.

    Now I have £4k in savings but a £4500 credit card bill (interest free). Working hard to build my cash up and hopefully will have £5k at the end of January. The credit card can wait for a long, long time and I'll just keep rolling it over until the second child (yet to be conceived) reaches the age of 3 and so gets most of his hours at nursery for free. So that should be in 2023 assuming all goes to plan and she gives birth in 2020. Until then, I am broke.
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