Yabbut. How much money is reasonable to keep in a fast access, rainy day fund? I could only really start enjoying myself knowing that if something truly bad happened, I'd have some resources to deal with it. That makes the calculation a bit messy.
They say you should have at least 3X the mortgage payment tucked away, but trouble often hits much harder than that. I think 30X the mortgage payment is probably where you can start to feel comfortable enough to plan a Disney cruise with the kiddies. From what I've seen lately, people have 30X the monthly mortgage payment in DEBTS, not savings!! I guess the advantage there is that you can file for bankruptcy and make your fellow citizens eat the losses in higher prices. )-:
Fortunately, US savings levels, which were at all time lows are starting to creep back up as people realize how long they might have to fend for themselves if the breadwinner gets fired and can't find a new job.
-- Bobby G.