How Much Should You Really Have in Savings? And What To Do If Your Financial Advice Feels Wrong
Aug 28, 2025
How much should you really have in savings? Discover how to determine your personal savings goal while ditching the guesswork. When financial advice goes against your instincts, what should you do? Learn to spot red flags and empower yourself to make decisions that feel right. Plus, enjoy stories of financial wins and creative money-saving tips, along with a surprising side hustle involving a ferret. Tune in for practical advice wrapped in humor and relatable experiences!
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volunteer_activism ADVICE
Save For Goals, Not A Magic Number
Choose savings amounts based on your goals and values rather than a universal rule.
Match each savings account to a specific purpose and timeframe to make it actionable.
insights INSIGHT
Savings As A Privilege
Savings is a privilege for many Australians, with many unable to access $500 for emergencies.
Recognise that having cash cushions depends on income stability and broader economic context.
volunteer_activism ADVICE
Keep A Float And Structured Accounts
Use account structure (offset, float, bills account) to cover bills and small surprises.
Keep a small float for day-to-day unexpected debits and direct debits to avoid overdrafts.
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So… what is the magic number you should have when it comes to savings? Is it a neat percentage, a chunky dollar figure, or three months of bills sitting pretty in your account? This week we’re spilling the tea on how to work out your number, so you can stop guessing and start saving with a plan that actually makes sense for your life. Then we chat about what to do when financial advice doesn’t pass the vibe check. A community member was told to merge their life savings with their partner. Cute in theory, terrifying in practice. So, what do you do when the “experts” say one thing but your gut says absolutely not? We’re pulling apart the red flags, the real questions to ask, and why protecting yourself is the ultimate power move. And because it’s Friday, you know the chaos is here too: money wins (like a $340 dress scored for $80), broke tips that actually slap, and a ferret side hustle we did not see coming.
Ready for more laughs, lessons, and unhinged money chats? Check out our oh-so-bingeable Friday Drinks playlist. Listen here.
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
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