I am wondering for each property you buy how much you should have in reserve ie cash in the bank to support the situation if the economy gets worse??
hi liz,
im not sure if this changes depending on how much prop you have – but we were advised by our financial planner to have 1 month's worth of expenses saved up (all living expenses plus all loan repayments combined). it wouldnt be too hard to work it all out if you have a current applicable budget done up.
ours arent too bad, came to just over $5000. but considering we only have $1,500 saved up at the end of each pay fortnight we still have awhile to go!! so we are saving every penny we can.
im sure it all depends on your level of comfort though, as to how much you should save up.
good luck
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