How Much Do You Need in Your Savings Account?

How Much Do You Need in Your Savings Account?
https://blog.foodinsurance.com/how-much-do-you-need-in-your-savings-account/

So you have a savings account, now what? How much money do you need to put in there? Financial experts talk about having an emergency fund, but what does that really mean?

An emergency fund is not your savings for a car, house, or other large purchases. Savings for a downpayment on a home should be in addition to your emergency fund. The emergency fund is there for a rainy day (car breaking down, expected medical expenses, etc.) and not for a weekend trip to Las Vegas.

During a disaster or a job loss, your emergency fund will allow you to ...   ---CONTINUED---

Ok, here's the real thing. The government was shut down for 35 days, some 800,000 government employees were either sent home or some had to work without pay.

After about 2 weeks (or less) people started calling off sick so they didn't have to work without pay. They said they didn't have enough money for gas, food, pay their rent, etc..

That tells me two things, 1. These people are living a lavish lifestyle and way beyond their means and 2. They sure didn't have a plan in case of a shut down or if they got laid off and my bet is they still won't have a plan the next shut down or if they get laid off.

I was a fed. law enforce. officer back in the mid 1990's when Clinton shut down the government for 21 days. All I heard from people I worked with was what are we going to do for money.

I told one guy to quit smoking, don't stop at the bar on the way home, sell your $25,000 vehicle, your bass boat and your harley davidson. Man you should have seen the looks I got. But it's true, people just live outside their means.

This is a tough one. Lavish lifestyles, without a care or sincerely just barely making ends meet.

I'm on a 'moms' facebook page, and a similar post was made requesting advice what to do to save $$ because of loss of work. No contingency plan in place, either. Some live beyond their means, some living the best they can, but check to check.