How Much You Should Have in Savings (And Why Most Advice Feels Off)

If you’ve ever Googled “how much should I have in savings,” you’ve probably seen the same answer over and over again:

“3–6 months of expenses.”

And while that advice isn’t wrong (I’ve given it before, too), it often doesn’t feel very helpful.

So here’s a more nuanced way to think about it.

Why the “3–6 Months” Rule Feels Off

The reason this advice can feel frustrating is because it’s based on a general guideline, not your real life.

It doesn’t account for how stable your income is.

It doesn’t reflect how long it might realistically take you to find a new job.

And most importantly, it often underestimates what it actually costs you to live your life each month.

Not just your rent or mortgage and utilities — but everything else that makes your life yours.

Eating out. Subscriptions. Memberships. Beauty care. The small, everyday things that add up quietly in the background.

When those aren’t included, the number you’re aiming for isn’t actually accurate — which makes the whole goal feel disconnected.

A More Helpful Way to Think About Savings

I like to think about savings as an emergency fund — money you don’t plan to touch unless something unexpected happens.

That could be a car repair.

Or, in a worst-case scenario, losing your income.

Not to be alarmist — just being realistic.

So instead of asking, “What’s the right number?”, I think a more helpful question is:

“How much runway would I want if I lost my income?”

That’s where things start to feel more personal — and more actionable.

How I Think About My Own Emergency Fund

For me, I tend to be more risk-averse. I like having a solid safety net.

The last time I was job searching, it took me about four months to find something new.

So I took that number and added about 50% to give myself extra breathing room.

That’s how I landed on six months.

Not because a guideline told me to — but because it reflects my real experience and my comfort level.

That’s the difference.

The Piece Most People Miss

Here’s where this often breaks down for people:

Even if you know how many months you want to cover, you still need to know what one month of your life actually costs.

And not just the bare minimum.

Your real life.

The version of your life you’d want to maintain if things felt uncertain — not a stripped-down version that feels stressful in a different way.

This is where clarity matters.

Because most people don’t have a single place where all of their spending is laid out clearly. They have a general sense, but not a detailed view.

And without that, it’s almost impossible to set a savings target that actually fits your life.

How to Find Your Number (Without Guessing)

This is why the first thing I think everyone should do is create a financial dashboard.

It’s a single view of your income and everything going out — line by line.

Subscriptions. Memberships. Eating out. Fixed bills. Variable spending. All of it.

Once you can see everything in one place, two things happen:

First, you get clarity on what it actually costs to live your life each month.

And second, the math becomes simple.

You take your true monthly number and multiply it by the number of months of runway you want.

That’s it.

No guessing. No vague ranges. Just a number that actually reflects you.

Why This Approach Feels Better

When your savings goal is based on your real life, it feels more grounded — and more achievable.

You’re not chasing an arbitrary number.

You’re building a safety net that makes sense for your situation, your preferences, and your level of comfort.

And that shift matters.

Because the goal of savings isn’t to hit a perfect number.

It’s to feel prepared.

It’s to feel like, if something unexpected happened, you’d have laid the foundation to give yourself the time to think clearly and make good decisions — instead of reacting from stress.

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