How many months to have in emergency fund?

[KennesawNemo]

We only have about 3 months saved as emergency fund, but there are couple factors. Both of us work and DH's job is extremely secure. Should one of us loose job, we can survive on one income with no problem.

While I was staying at home, we had 6 months. Should DH ever move to a less secure job, we will also increase it to 6 month.

 

[Earstou]

In this economy, I would say at least one year. DH's place of employment closed down suddenly 3 years ago due to the economy and it took him 9 months to land another job. He had a lot of experience in his line of work, and was qualified for various positions, but when everyone is downsizing, which is still happening now, it's extremely difficult to land a job. It surprised us, but luckily we had the savings to survive it.
Also remember, paying Cobra to extend your health insurance is a big chunk of cash.

 

[Pesky]

I think look at the field you are in. If you happen to work in a field where there are a dearth of qualified candidates (which should lessen the likelihood of a layoff anyway), I would say 4-6mos. If you, like most of us, work in a field where you are utterly replaceable and there are many unemployed yet qualified candidates also competing with you for a job, 6 mos minimum and probably a year if possible. And agree with PP's point about COBRA -- that really jacks up your monthly expenses.