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How many of you have a six month emergency fund?
Posted on 4/7/20 at 6:44 pm
Posted on 4/7/20 at 6:44 pm
General rule is 6 months of expenses saved away for emergencies - losing job, getting sick, natural disasters, disabilities. This should be on top of your regular savings accounts, 401k, investments. I’m discovering so many people I know don’t even have a single savings account.
You should always pay yourself first before making major purchases.
It appears Americans aren’t rainy day savers anymore. Many Americans aren’t really middle class as they tend to classify themselves and live paycheck to paycheck and many who make decent money squander that shite on unnecessary purchases - cars they can’t afford, houses they shouldn’t buy, general crap expensive items. They save nothing.
It’s pretty scary to think the government has to bail so many people out with only one month off from work. We are a fragile society. The country is comprised of more lower income, lower educated who are dependent on the government and the government likes it that way. Keep them dumb and poor.
We are a nation of serfs.
You should always pay yourself first before making major purchases.
It appears Americans aren’t rainy day savers anymore. Many Americans aren’t really middle class as they tend to classify themselves and live paycheck to paycheck and many who make decent money squander that shite on unnecessary purchases - cars they can’t afford, houses they shouldn’t buy, general crap expensive items. They save nothing.
It’s pretty scary to think the government has to bail so many people out with only one month off from work. We are a fragile society. The country is comprised of more lower income, lower educated who are dependent on the government and the government likes it that way. Keep them dumb and poor.
We are a nation of serfs.
This post was edited on 4/7/20 at 6:44 pm
Posted on 4/7/20 at 6:45 pm to oilattorney4lsu
Prolly 24 months before I had to start selling liquid assets
Posted on 4/7/20 at 6:46 pm to oilattorney4lsu
quote:Where have you been the last 12 years?
I’m discovering so many people I know don’t even have a single savings account.
Posted on 4/7/20 at 6:46 pm to oilattorney4lsu
Responsible people aren't outspoken. That's why it seems that way.
Posted on 4/7/20 at 6:46 pm to oilattorney4lsu
Was getting one and almost took a chunk out to buy a new car, but decided it was more a want than a need and decided not to.
I don’t blame the lady making $12/ hour for not having an emergency fund, but I’ve been shocked at some of the upper middle class folks who were paycheck to paycheck
I don’t blame the lady making $12/ hour for not having an emergency fund, but I’ve been shocked at some of the upper middle class folks who were paycheck to paycheck
Posted on 4/7/20 at 6:47 pm to oilattorney4lsu
quote:
I’m discovering so many people I know don’t even have a single savings account.
You know a bunch of retards. Try associating with some people that aren’t living paycheck to paycheck, using excess money to fund their drug habits
Posted on 4/7/20 at 6:47 pm to oilattorney4lsu
Does your calculus have any consideration for age?
Pray tell, how would a recent college graduate have long term savings set aside?
Pray tell, how would a recent college graduate have long term savings set aside?
Posted on 4/7/20 at 6:48 pm to oilattorney4lsu
18 months of salary. Could stretch it to 2 years if needed.
All cars paid off, which is a huge drain for a lot of people
All cars paid off, which is a huge drain for a lot of people
Posted on 4/7/20 at 6:49 pm to oilattorney4lsu
I am there...thank God
Posted on 4/7/20 at 6:49 pm to oilattorney4lsu
I have about 7 months straight cash. Definitely beefing it up after all this though.
My job is secure for now. There is no such thing as too much savings though.
My job is secure for now. There is no such thing as too much savings though.
Posted on 4/7/20 at 6:49 pm to oilattorney4lsu
Probably about 8 months of essential expenses. 6 days of current expenses.
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Posted on 4/7/20 at 6:51 pm to oilattorney4lsu
I could live my current lifestyle for 1 year. But then again it would be better to stretch that out and cut spending if I was unemployed
Posted on 4/7/20 at 6:52 pm to oilattorney4lsu
you are speaking of a society that pays a minimum of $800 for their must have iphone and pays a general cell carrier hundreds to play on it. (Consumer Cellular-it is not just for old people-it is for smart people paying $45 a month for two phones unlimited)
savings accounts are not like they were back when. They are there to back up the checking acct.
savings accounts are not like they were back when. They are there to back up the checking acct.
Posted on 4/7/20 at 6:55 pm to oilattorney4lsu
I don’t have six months on top of investments, but with investments I could make six months easy. Maybe this is a money board topic, but why let thousands of dollars sit in a savings account when you could invest that and get some return instead of the tiny percentage you get back in savings accounts?
Posted on 4/7/20 at 6:57 pm to oilattorney4lsu
I could hold on for about a year (maybe a little more depending on my portfolio).
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