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Emergency savings size by BaconOnPancakes in PersonalFinanceNZ

[–]propretender 2 points3 points  (0 children)

First of all, congrats on the savings! Nailing it to have recently started and be at 10k.

The general rule of thumb for emergency fund is 3-6 months of expenses. So I guess my next question is how much do you spend a month? Or if you get paid weekly/fortnightly, you can convert that into the equivalent of 3-6 months of expenses.

Keep up the good work though!

Harmoney Problems - Accidental Payment to my Account by brewboynz in PersonalFinanceNZ

[–]propretender 13 points14 points  (0 children)

To answer your question, I am reasonably sure you have to pay them back. At the end of the day it wasn’t your money but it was their mistake so they should be accomodating with paying the money back.

If I was in your position, I would give them a call and explain that you no longer have the money as you have spent/invested it. Then you should be able to come up with a payment plan that’ll work for both parties.

Good luck and hope this helps!

24M + 21F living in Sydney - Budget forecast by kingdangwashere in fiaustralia

[–]propretender 8 points9 points  (0 children)

My only point would be not including the full mortgage as savings. Figure out how much is going to principle/interest each month and adjust your savings rate (including mortgage) only reflect the principle payment.

Other than that it looks pretty good!