Something funny about your numbers, your monthly salary is 18.75k a month between you yet you are only taking home 7k a month. Is there a typo in the original post somewhere?
€140k + €85k married couple would be should be about €11.5k net p.m. but maybe they're making (maximum?) pension contributions which could bring this down to around €7k.
Thanks for the feedback all … I agree with the daddy man my emergency fund is still very small ..,in this regard there are emergencies and foreseeable expenditure and ad listed above car change , house repairs etc while not immediately on the cards are foreseeable possibilities , you always need to have cash to avail of opportunities , changes in government policy grants could influence your decision here. If you took the view that you can always borrow at the time to deal with these issues you be ignoring the fact that borrowing cost on personal loans , bank overdrafts , credit cards would be far more expensive than your mortgage rate. It’s for this reason that I support holding a decent emergency fund ( which btw I recognise I don’t currently have )
I agree with the daddy man my emergency fund is still very small ..,in this regard there are emergencies and foreseeable expenditure and ad listed above car change , house repairs etc while not immediately on the cards are foreseeable possibilities , you always need to have cash to avail of opportunities
you're not talking about an "emergency fund" at all. Just a general slush fund to dip into when you haven't planned expenditure properly.
Do you sit down together ever, and work out a household budget? Its a worthwhile exercise.
This comes up from time to time, and there is a custom and practice answer that everyone should have 6 months' expenditure in cash in case of some unforeseen expenditure. This is too simple an answer and it results in most people having way too much cash wasting away in a low interest deposit...
www.askaboutmoney.com
By the way, when ECB rates were 0%, your strategy was correct.