How much money should someone have in their savings account?

Question

My dad always told me that you should have enough to live on for atleast 6 months. What do you think?

Answer 1

3-6 months depending on your expenses.

Answer 2

Your dad is right.

Answer 3

Your Dad is a wise man. Obviously when you're young and just starting out it's diificult to have that much saved up, but you need to strive for that and avoid any exhorbitant spending until you get there. Good luck to you.  

Answer 4

Three to six months living expenses is a good yardstick for the amount you should have on hand for "emergencies"...

Answer 5

Your dad is absolutely right.

Answer 6

Your dad is right it would be good to have a year's liquid assets if possible (bonds gics)

Answer 7

I agree with your dad.