Survival number or survival sum is what I've been working on this weekend. What's survival number then?
Well, survival number refers to the amount of money you need to survive -- i.e. you only spend on your needs, and eliminate all wants. Calculating survival number doesn't mean you need to live on this number, scrimping and saving, depriving you of all the luxuries. Rather, it is a number which you should know for projections and planning purposes.
Disclaimer: Hey, I'm just a simple woman( 小女人), who knows nuts about finance. I don't have any qualifications associated with finance or anything related to money. I'm not qualified to give any financial advice, so this blog post is ONLY about me rambling about me calculating my own survival number. Read more about my disclaimer here.
What do you use Survival Number for?
The survival number is used for projection and planning purposes.
Examples of its use include:...