Contract work or permanent, which would you take? (update)

I got a contract offer for 5 months as a pharmacy technician and I am unsure whether to accept. I have read a lot of threads here and could not find my exact situation. I have 10 months of savings left.

I took a contract and it converted after four months. The time also kept my skills current.

Thanks for writing this out. I went through something close to it 10 months ago, and it settled down once I kept a simple log of every call and form.