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WHAT IS A GOOD RULE OF THUMB FOR AMOUNT OF MONEY TO KEEP IN SAVINGS

When you buy a home?

by Anonymousreply 602/03/2013

Are you not watching Suze Orman at all? This is pretty much Chapter 1, Page 1 stuff.

She suggests an 8 month emergency account - meaning you can pay ALL your expenses, including mortgage, for 8 months.

by Anonymousreply 102/03/2013

Which Orman book do you recommend? I am buying a 500k home. I am putting 100k down, and planning on retaining 20k in savings. Is this enough?

by Anonymousreply 202/03/2013

No

by Anonymousreply 302/03/2013

I have 25k in savings and another 7k in one checking account and 5k in another checking account. I have no income and will not have one for the foreseeable future. Do you think I should buy a 1500 dollar desk chair? I have a really bad back and lots of health problems and cannot sit at my desk for more than 20 minutes without my back going into spasm. I want the chair in the link with a mocha finish and upgraded upholstery:

by Anonymousreply 402/03/2013

R4, you are DENIED!

by Anonymousreply 502/03/2013

R4 try to find it on ebay.

by Anonymousreply 602/03/2013
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