Mailbag: “How much should I save, when my job is shaky?”

How much should you actually have in savings to feel safe? In this week’s Ask the Experts, it’s a listener letter from someone worried about layoffs and wondering whether they’ve saved enough - or maybe even too much. Heartland Bank’s Will White joins the show to unpack what a real emergency fund looks like in 2025. How many months of expenses should you really have tucked away? What happens if you over-save and leave too much cash sitting idle instead of investing it? And where’s the best place to keep your buffer; a high-interest account, term deposit, or offset mortgage? If you’ve ever paused your investing to “build up the savings” or felt unsure what enough really means, this episode will give you a clear, practical framework to find your financial safety zone. If you have a letter you’d like us to answer, please send it through to [email protected] and you might feature on our next episode! Follow me everywhere! Facebook / https://www.facebook.com/FrancesCookNZ Instagram / https://www.instagram.com/francescooknz TikTok / https://www.tiktok.com/@francescooknz Join the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribe #makingcents #francescook #EmergencyFund #SavingsBuffer #JobSecurity #BudgetingTips #NZFinance #HighInterestSavings #TermDeposits #OffsetMortgage #RevolvingCredit #CreditCardDebt #Compounding #HeartlandBank This podcast was filmed & produced by Fanaticals Video editing & content production by Lana Byrne Audio engineering by Tash Chittock Chapters 00:00 - Introduction 01:01 - Can you save too much? 01:46 - How big should your buffer be? 03:55 - Budget reality: find the fat 05:08 - Debt vs saving—what first? 07:21 - Next steps 11:24 - Offset & revolving: pros & pitfalls 16:43 - Outro