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re: How much do you have in savings?
Posted on 2/12/19 at 6:02 pm to Green Chili Tiger
Posted on 2/12/19 at 6:02 pm to Green Chili Tiger
How much interest are you earning on that savings account again?
step up with a LoC instead, like the truly wealthy.
Invest about 20k of that tiny egg of yours , and count on a LoC, for your rainy day fund.
Literally the same as cash. Even for home purchases. Can even use it for some velocity banking and the like.
Or just have it sit there collecting dust. You would almost be better off with gold buried in your backyard. At least it is appreciating. You are LITERALLY losing money to inflation every day.
step up with a LoC instead, like the truly wealthy.
Invest about 20k of that tiny egg of yours , and count on a LoC, for your rainy day fund.
Literally the same as cash. Even for home purchases. Can even use it for some velocity banking and the like.
Or just have it sit there collecting dust. You would almost be better off with gold buried in your backyard. At least it is appreciating. You are LITERALLY losing money to inflation every day.
2
Posted on 2/12/19 at 6:10 pm to Four Leaf Tayback
quote:
We weren’t poor growing up but we were nowhere near rich. Probably closer to poor. We lived in a not so nice trailer for a few years. My dad worked his dick off to buy and build his own home here in SELA and he purchased the 1k acres from my grandfather at a discount price in the early 90’s.
Not knockin ya or anything, but some people would say the fact your grandfather had 1k acres to sell at a discount price to your dad still means you won the sperm lottery.
The only inheritance I got from my dad and grandfather was...well...nothing. I paid for my dad's funeral if that counts though.
This post was edited on 2/12/19 at 6:11 pm
Posted on 2/12/19 at 6:14 pm to Green Chili Tiger
What’s a savings account?
Don’t have one bc I have a 2019 F250
Don’t have one bc I have a 2019 F250
Posted on 2/12/19 at 6:15 pm to Green Chili Tiger
I have 3 years worth of expenses in my savings.
Posted on 2/12/19 at 6:22 pm to Green Chili Tiger
quote:
I was talking to a guy the other day and he said the most he had ever had in savings was $2k. That's baffling to me. Between home/car/health issues you could easily need to access, at MINIMUM, $5K with zero notice.
Really?
Give me one example where you would need that kind of cash with literally zero notice.
Seriously.
All emergencies I’ve had to deal with that involved figures more than a few hundred bucks could either:
1) be paid with a credit card to float the cash to be paid off
2) I had at least the one business day between the need being generated and the bill coming due to get the wire from my investment funds.
The only time I could see it being truely needed to be able to go to the bank and immediately generate a cashier’s check are also non-emergent situations. If you are in the market for a big purchase needing cash THEN have money set aside.
ETA: I’m talking specifically cash savings accounts. Not having non- 401k assets that can be tapped
This post was edited on 2/12/19 at 6:23 pm
Posted on 2/12/19 at 7:10 pm to Green Chili Tiger
Why the F do you think I would tell you or anyone this?
Posted on 2/12/19 at 7:20 pm to Green Chili Tiger
About the same for me. I feel comfortable with that scenario. 
Posted on 2/12/19 at 7:24 pm to Balloon Huffer
quote:
Or just have it sit there collecting dust. You would almost be better off with gold buried in your backyard. At least it is appreciating. You are LITERALLY losing money to inflation every day
Yep. Keeping a massive amount of money in a savings account is idiotic
Posted on 2/12/19 at 7:30 pm to Green Chili Tiger
Enough to cover 5 months of all bills
Currently have 2 kids in daycare and bought 40 acres of land
Any excess from month to month goes towards the land I bought
Ideally id have a years worth of bills in savings but I’m better suited paying down debt right now
Currently have 2 kids in daycare and bought 40 acres of land
Any excess from month to month goes towards the land I bought
Ideally id have a years worth of bills in savings but I’m better suited paying down debt right now
This post was edited on 2/12/19 at 7:31 pm
Posted on 2/12/19 at 7:35 pm to Green Chili Tiger
I keep $50,000 minimum in my money market savings as I get more rewards for my bank card.
Other extra money goes into my stocks portfolio and 401K.
No debt outside of mortgage.
Other extra money goes into my stocks portfolio and 401K.
No debt outside of mortgage.
Posted on 2/12/19 at 7:37 pm to Green Chili Tiger
$1.4 mil the last timevI checked.
Posted on 2/12/19 at 7:42 pm to keakar
quote:
the average person should have no less then enough to go out and buy a new car tomorrow fully paid for.
The average person should also know the difference between then and than but here we are....
Posted on 2/12/19 at 7:46 pm to Green Chili Tiger
$1812
I spent 24 grand in December.
Two attorneys each got me for 4300 bucks
I spent 24 grand in December.
Two attorneys each got me for 4300 bucks
This post was edited on 2/12/19 at 7:49 pm
Posted on 2/12/19 at 7:54 pm to Green Chili Tiger
quote:
Between home/car/health issues you could easily need to access, at MINIMUM, $5K with zero notice.
I have cash in a safe at home. But honestly, I'm up to 80ish grand in available revolving. I have no need for cash savings.
Posted on 2/12/19 at 8:13 pm to Green Chili Tiger
About enough for 3 car payments but can’t decide if I should move the money over & pay the note before I get repo’d
Posted on 2/12/19 at 8:16 pm to Green Chili Tiger
quote:$26,848.15
I have $26,847.15 right now.
Posted on 2/12/19 at 8:18 pm to Green Chili Tiger
quote:
need to access, at MINIMUM, $5K with zero notice.
I have very little in savings right now. Almost everything is invested besides a small cushion to cover credit card payments if they're a little higher than my pay that month. We put everything on cards and pay each month. The whole quick access is a bit overrated. I can get my money in a few days and have like 100k in credit card limits if there was an emergency. Can get the money out before the card payment is due.
Posted on 2/12/19 at 8:19 pm to soccerfüt
Well im not telling but i just had to fork over six figures as part of my divorce settlement.
But I am happy as frick that it’s over as of last Friday.
Still got everything I need and money put away.
But I am happy as frick that it’s over as of last Friday.
Still got everything I need and money put away.
Posted on 2/12/19 at 8:23 pm to Green Chili Tiger
I think I got like 14 or 15k in my hometown bank. They offer me .02% interest in the savings account.... soooooo yeahh.... pretty shitty but its fast cash for me. I probably should just transfer that and put it in my other account with a 3% rate
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