How do you manage your emergency fund?
Hello, I am male 25 from Frankfurt,
I earn about €2,700 net and am currently thinking about how I will manage my finances in the future.
I live with my girlfriend in an apartment with a fair rent.
So that at the end of the month there is definitely something left to invest and save.
I'm thinking about which savings I should approach and how much I should put aside.
I have about €3,000 in a savings account, and I would now like to invest in ETFs on a monthly basis.
Apart from my daily account, I also save a few hundred euros every month in a sub-account of my current account for holidays and expensive purchases, etc.
Should I have more emergency funds in my savings account? I think it's a bit unnecessary. I have a motorcycle, which could break down, of course, but it won't cost more than €2,000.
I prefer to invest continuously in ETFs, and if something really crazy happens that I don't know what it is, I just take a little bit out of them or from the sub-account of my checking account.
Would you do the same? How do you handle your emergency fund, and what would you do in my situation?
Best regards
(1 votes)
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Notgroschen comes from a save book and is not touched. This is really for acute emergencies when we really need the money because car urgently needs to be repaired or we have to pay for extra costs etc. And if we don’t have to keep saving it
Sparbuch wouldn’t be so smart if you get close to 4% interest elsewhere.
I’m not talking about interest. Apart from that you have already asked our banks about something else and you don’t get much more for the savings book. of 4% we are very far away because the banks are going on no matter whether on day money or other only 1% if it comes from then stays on the savings book and is good.
Even by the end of last year, my savings have been completely bunked at home without getting only 0.1%.
How do you do this with the not-growing
In the movie “French Kiss” with Meg Ryan comes the emergency grouse.
You won’t need more than Kate from the movie.
https://www.werstreamt.es/film/details/1637645/french-kiss/
https://de.m.wikipedia.org/wiki/French_Kiss
The famous three net salaries in the daily money account at current 3.75% interest.
And for holidays etc., something goes away, but this is on a separate account.
Saving plans on 25 shares with burggräben, a savings plan on a simple World ETF, one on a India ETF and one on the Nasdaq 100.
either the famous three monthly income bluntly on daily money or economic plan in combination with household book. I do the latter and have been living financially carefree since then. It is amazing how predictable life is in terms of finance.
If you need 1000€ a month to live, then the emergency is at the bottom. You should be able to live at least 3 months from the money, up to 6 net keepers. So in your case 16200€. Only when the not-growing saves you should start investing.
Motorcycle sale, 6 “month cost” Notgroschen (i.e. at 1000€->6000€ Notgroschen), then 30% Bitcoin in self Custody on own hw Wallet, 70% ETF worldwide diversified.
But that would be my investment style and my risk. The thief can be completely different with you.
Ich habe
Auf dem Verrechnungskonto sammle ich über die Zeit einen 5-stelligen Betrag an, den ich dann so investiere, dass ein 4-stelliger Betrag übrig bleibt.
Dieser Rest ist meine flexible Notreserve.
Sollte diese nicht ausreichen, kann ich immer noch einen Teilverkauf im Aktiendepot machen, was jedoch bislang noch nie vorgekommen ist.
Mit Not rechne ich nicht, stattdesssen treffe ich aufgrund langhjähriger Erfahrung vernünftige Vorsorge für konsumtive und nicht konsumtive Ersatzbeschffungen und werterhaltende Maßnahmen.
3 Nettoeinkommen als Reserve