If u have savings, do u live off income, or dip into svgs for paying bills, etc?

This post is mainly due to my personal stubborness! I was raised (and it has stuck!), that if at all possible, savings sit until that time I am no longer working (retired) or emergency, or large planned expense, such as purchasing a house. But… not daily expenses/bills!!

This isnt about what to do with 'X amount' of money, rather it's about the belief and challenge of living solely off daily income, even if have some savings available.

But at what inconvenience/stress 'cost' should this goal be adhered to? I admit I sell stuff to meet daily expenses and it feels good to see my resourcefulness be successful. On the flip side, it can also create stress if sells arent happening when needed, or are not enough. Maybe I should relax more and not think so negatively about removing from savings!?

The (most recent) post by Schwefel1995 made me think maybe I'm not the only one who is stubborn enough to insist on taking care of daily expenses without dipping into savings…no matter how small that savings may be!? Also many other posts, this was the most recent that I spotted.

No right or wrong, as everyone's circumstances and life is different. Just wondering what fellows scrappers think?

My dad always told me to have different savings accounts. One, for emergencies. This is 3 months worth of bills and expenses, mininum. Second, is retirement savings. Third, is discretionary savings for larger purchases whether it be a car, a house, whatever.

Get the first one at least to a three month's level, continuously add to retirement whether it be a set amount or percentage, and then the last can be the savings that is more flexible. You can pull out and pay bills if you want to that day and not feel so bad...maybe that motorized cooler can wait for another day ;)

RyanW strategy seems like a great solution. The only thing that I could add is the emergency money should be in liquid assets, easy to access like a savings account. As you get older the emergency account should expand to include six months, one year, etc. expenses. When I reached this point I put money in CD's that matured every month. Retirement should be in long term investments that are not liquid. My discretionary savings is kept in cash which makes it harder to spend. When saving for a large purchase like a car or house then when a certain amount is saved it is put into a CD.

My first step, if i got to the point of taking from "savings" for planned expenses, would be to lower expenses. regardless of complaints or quality of life.

Thanks for the advice and info. Always good to look at things from different perspectives. Lots to think about!