How much is enough?

[DaveB]

How much money do you need in the bank to feel confidant about riding out a period out of contract? The DaveB Ltd fighting fund currently has enough in it to last me about 6 months if I had to.

How much do you keep in reserve?

[Churchill]

How much money do you need in the bank to feel confidant about riding out a period out of contract? The DaveB Ltd fighting fund currently has enough in it to last me about 6 months if I had to.

How much do you keep in reserve?

Currently about £2m.

[scooterscot]

about a year's worth. But know that I'm riding I'm not so sure...

[BlasterBates]

I account for about £2000 a month, I'd feel comfortable with about 30-40K in the war chest.

[BrilloPad]

I keep too much

[RichardCranium]

I reckon 9 months plus the cost of some training (£5 to £10k) should do it.

[thunderlizard]

If I had the propensity for that level of planning I'm sure I wouldn't have ended up as a contractor.

I'd say about 6 months if the minimum. Any less than that and I'd be taking on rubbish contracts just to get a few pence in the coffers. But I'm a frugal sort, so I've got about 15 years' worth at present.

[Archangel]

I've got about 2 years of frugal living in the bank, but I'd probably be content with 12 months worth. If I haven't got a gig after say 9 months on the bench I think I'd give up and go to plan B.

[DimPrawn]

The downturn is going to last at least 4 years, so anyone with less than 4 years savings is looking at the soup kitchens.

HTH

[TheBigYinJames]

The downturn is going to last at least 4 years, so anyone with less than 4 years savings is looking at the soup kitchens.
HTH

We'll flush the £500 a dayers out of the market, they'll all go permie/go to Oz, that leaves double the number of £200-£300 a day contracts lying around for those willing to take them until the market improves.