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[quote=Anonymous]we have one emergency fund.  We transfer a very small amount into it, automatically, every month.  I also transfer larger sums periodically (if there's a bonus or some such).
Currently it is in the 8-10k range which represents about 2 mos of living expenses, ie enough to pay our bills and buy groceries.  Assuming that everything not mission critical gets slashed, it would stretch to maybe 3-4 mos.
However, the likelihood that DH and I are both suddenly 100% out of work at the same time are close to nil.  My job is extremely stable even in these trying times, and DH's is such that he could quit right now and have 2 offers by COB, at comparable pay.  
So the above numbers are based on the worst-case scenario that only my income is slashed (which would affect us more).  The length of usefulness would depend largely on the daycare situation, which would vary depending on the specific emergency situation.
We draw from it occasionally for larger "O $hit" kind of stuff like the washer died, etc.
I do use it to "stash" specific savings for large anticipated purchases/etc.
We don't have any other liquid funds.
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