2. Gradually build up your “rainy day” fund

In general, it should represent about three to six months of wages.

Set this money aside in a risk-free savings account to be immediately available in case of need. Most importantly, only use it in a time of hardship.

Examples of unexpected expenses:

  • Your refrigerator breaks down, your roof springs a leak,
  • Your water heater has to be replaced earlier than expected,
  • Loss of income, etc.

What savings do Luxembourg households have available?

…the monthly net income of my household.

Remaining percentage to 100 - "I don't know"

Source : Study conducted for ING Luxembourg by TNS ILRES, from 27.04.2020 to 04.05.202

More about savings

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