How Much Do You Save?
I surfed over to Sarah’s site Frugal Underground. I first came across this site a few weeks ago from the LinkedIn Blogger group.
Sarah did an interesting survey asking how much we save, since the visitors would most likely be the frugal type. I’m sure readers of my site would most likely fall into that category too. When I clicked over to see the results of the poll, I noted that the largest group have savings that will last them more than 12 months. The next largest group have savings of between 4 to 6 months.
Although this poll just mentioned savings alone and not divided into whether the savings are invested or not, I felt that if the savings is not invested, then a large number of people might be too conservative. I’m just speculating here that maybe a lot ofl that money could be in low yielding investment or a savings account. It will be lazy money.
However, if you have invested in instruments that can be easily converted to cash and still give better returns than in fixed deposit, then you are ok.
So plan carefully. You want to have a sufficient buffer to cover unexpected emergencies, but not too much, or that money will become lazy money.
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