War Chest.

[bobsa]

Hi,

Without giving away amounts, how many months worth of money would you say is a good war chest?

I've currently banked on 3 months worth of bills, food, etc etc and added a small contingency, but is this enough? any help from the seasoned vets would be great.

Thanks

[proggy]

Hi,

Without giving away amounts, how many months worth of money would you say is a good war chest?

I've currently banked on 3 months worth of bills, food, etc etc and added a small contingency, but is this enough? any help from the seasoned vets would be great.

Thanks

It depends on you skillset, and how the market is for your skills. I would say 6 months minimum a year better.

[quackhandle]

Hi,

Without giving away amounts, how many months worth of money would you say is a good war chest?

I've currently banked on 3 months worth of bills, food, etc etc and added a small contingency, but is this enough? any help from the seasoned vets would be great.

Thanks

Only you can work out what your daily/monthly expenditure is, eg - some people can easily survive on £1K a month, some would need much more than that.

Do a search, loads of threads on this.


qh

[TheFaQQer]

Without giving away amounts, how many months worth of money would you say is a good war chest?

I've currently banked on 3 months worth of bills, food, etc etc and added a small contingency, but is this enough? any help from the seasoned vets would be great.

How long is a piece of string?

How confident are you that you can find a new role in that time? If you think that you can always find work, then you don't need a war chest at all; if you don't then you need to realistically work out how long you think you will be out of work.

Three months seems low to me, but you may have skills which pretty much guarantee work. I normally aim to have three months a year off anyway, so with only a three month cushion that doesn't leave much to play with.

[stek]

War Chest.

How Long is a Chinaman...

[The Spartan]

For me I'd say 6 months as it's nice to have some breathing space and if I want to take some time off and chill, like other posters have said it will vary depending on your skill set and personal circumstances.

[nomadd]

It depends on you skillset, and how the market is for your skills. I would say 6 months minimum a year better.

This^

And I'd err on the side of a year.

[Support Monkey]

12 months idealy, if you have not found any work in your chosen skillset in six months then you still have six months to retrain or get a job on the bin's

[northernladuk]

Do a search, loads of threads on this.

That isn't very helpful is it....

[psychocandy]

I always think in terms of months also. Currently up to about 12 months.... But then I have a part-time contract on the go as well which helps a little (only £500/month mind).

The more the better if you ask me. I'd like to have about 2 years because then it wouldnt bother me to be without contract for a few months.