No idea how much savings you need to have for unexpected large expenses? Nibud developed a calculation tool that calculates exactly how high your buffer should be. This way you can save more specifically.
We probably don’t have to tell you that you have to have money in hand for financial setbacks. You don’t assume that your car and washing machine will break down at exactly the same time, but of course you never know. How much savings are we talking about here? How much do you ‘have to’ save to be safe?
We live in a society of people who would rather talk about their sex life than their savings account. As a result, you have no idea how much savings are ‘normal’. Or what amount is wise to set aside for a rainy day.
How much savings should you have?
The National Institute for Budget Information (Nibud) comes to the rescue. This institute has developed a handy calculation tool, with which you can calculate how large your buffer should be. Of course you don’t have to do anything at all — that’s why the must in this article is always in ‘quotation marks’. Nevertheless, it is nice to know exactly what amount you ‘have to’ save for unexpected large expenses.
This is not a fixed amount for everyone, because it depends on a large number of factors. Whether you live in a rental or owner-occupied house and whether you have a car, for example. Nibud has therefore developed a calculation tool with which you can calculate your buffer in no time. You are not working on it for more than 5 minutes. So do it now, and you’ll know where you stand right away.
Fill in a number of questions — including the amount you now have in your savings account — and voila: Nibud indicates how much savings you ‘must’ have. And not only that: the tool also indicates how much money you are above or below the required amount.
Tip: do you live with a partner? Choose to fill in your joint income and savings, otherwise the tool will quickly say that you are not saving enough money. If you just want to know where you stand, it is best to fill in that you do not live together.
Tips to save
Don’t worry if you haven’t saved the amount nibud recommends yet. The first step has been taken: you realize that there is work to be done.