How much money should I have?

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My job pays $13.50 an hour. After taxes, I take home about $845 twice a month. Rent is $450 a month. I also have to buy groceries, gas, phone bill, internet, water, and electricity. Plus, now I have a dog that I'm constantly having to buy things for. My bank account has stayed pretty steadily around $1500 for the last few months. Is that a good, "responsible" amount? Should I be freaking out about how little money I have, or do I have enough that I can feel secure in my finances? If I should have more, how much do you think I ought to have? Am I living irresponsibly, and should I feel bad about it?

Sounds like you're doing pretty well to me. If you're worried about getting low on funds, get a credit card only for use in case of emergencies.

So, $1500 is a good amount to have in the bank? I don't know why, but I didn't think I'd be "well off" until I could manage to keep twice that much in reserve after all my bills were paid.

A rule of thumb some people use is to have six months' living expenses in savings. If you lost your job tomorrow and were unable to find work, have enough money to survive for six full months on your savings while you seek out new opportunities. Of course, a year's expenses in savings would be even better.

My advice is little untraditional, but works well for me. I am single and have zero intentions of having kids. I will start off with saying, your savings is far greater than the average American (assuming no debt). I will also note my income is similar. If you have dependents, I would strongly urge a more conservative approach. With that said this how I currently manage my funds (if my income was greater, it would be different).
• Emergency Fund (Unemployment) 3 Months (Savings-Immediate Cash)
• Credit Card for Emergency (Car/Medical)
• Used Rolex or other “Invisible” Assets (Quickly Sold/Holds Value)
• 10% 401K

I also keep an ad up in the local craigslist offering side work. 1-2 jobs a month, provides enough cash that covers daily expenses.

In your case, 1500 is a tad on the low side, just undee 2 months of rent, without utilities and food.

You did not mention jow much you pay for those, but i'll take 150 a month for an example, making you spend a round (ish) 1000 per month to live.

In that case, try to get up to 3000 dollars in savings, which lets you live for 3 months with no income whatsoever, or replace an expensive posession (like a car, furnace, water boiler) if needed.

I myself try to keep a the money to replace the most expensive thing i really need (my car) and still pay 2 months of living if i dont do anything fun (rent, utilities, food, extra taxes and insurance, plus 1 full tank of gas per month, for jobhunting).

25 times your yearly expenses, then you won't need to work anymore.