What’s your comfort threshold for your savings account when digital nomading as a freelancer?vWhat number do you begin to really stress when it’s below?
That’s a great question. For me personally, it’s when I have less than 4 months living expenses in my savings. That’s just a safe threshold I like to stick to. That way, I know I have a little bit of breathing room should work slow down.
good god, some of these back up numbers are insane! ranging from 3 months - to 1 year, to $70k!
I dont freelance, but i do have a steady predictable income coming in every month…so I guess my number is, as long as that monthly forecast and 2 month buffer remains the same, then im staying abroad.
10k euros
$30k cushion in high yield savings account
I measure by number of months I can keep doing whatever I’m doing with zero income. That is, if all of my clients cancelled on the same day and refused to pay me anything they owe.
Six months is what I like to have. Two months makes me uncomfortable.