How You can simply calculate Your ‘Enough’ number

Written By Caitriona Ellis

The majority of us have no idea how much is enough money for our needs and wants. It is often touted that this is an uber complex task that only an actuary could compute for us. I vehemently disagree. Our ‘enough’ figure can be simply calculated in a few simple steps. Sure if you’d like to add multiple complexities, that may take some more time and energy. But for most of, once we have an approximate idea as to what our enough number is, we can proceed with a whole host of ideas from this point. Watch the short vlog now

The basic components of your ‘enough’ figure for most people are typically rent/mortgage, food and utilities (electricity, gas, internet, phone). Once enough has been provided for, you may want to establish what are the extras that you would like to include e.g. eating out, take outs, Netflix, Prime, cinema, fun activities, exercise subscriptions etc

When you have clarity on your enough number and your enough plus figure, this gives you the ability to be able to establish what would be a good amount for you to put aside in an emergency fund should one of life’s curveballs be thrown your way. I like to know that I have 6 month’s essential expenses covered. This safety net gives you peace of mind that you have a decent chunk of time to work out a resolution whilst knowing your essential expenses are covered. It functions as a very effective oxygen mask allowing you to breathe easily whilst you work through a plan of action. The power of this is immeasurable and it all starts with clarity on your enough number.

So this week I urge you to pencil in some time, perhaps 15-20 minutes to work out your number. Once this number is established, it gives you clarity around a number of aspects of your financial wellness. Go ahead now, get your diary out and lock in that time to spend some time working that number out.

To Your Financial Wellness,


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