You need a few months of living expenses short term (more or less depending on demand for your job type), and a lot of long term savings. It annoys me to see people 30+ that spend money like water but are three paychecks from broke. With today's increasing life expectancy, you need to save the equivalent of 15% of your income for 40 years to quit working and maintain the same life. If that sounds like too much, you need to make more, spend less, or die young.
However, when you are just out of college or any other financial mess, you have to deal with your debt before you can save, but hopefully you come out of college with increased earning potential to make up for the later start on saving.
At least among people I know, there will be a lot of whiners in about 30 years.
Jeremy806