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Started By
Message
re: I'd like to know what happened to the OTers 6 month emergency funds.
Posted on 4/15/20 at 6:32 pm to magildachunks
Posted on 4/15/20 at 6:32 pm to magildachunks
quote:
You want me to give examples of avoidance?
examples of those that preached for the 6 month in savings and that are now panicking
0
Posted on 4/15/20 at 6:32 pm to magildachunks
I’m not working and I’ll be fine for longer than six months on savings.
More worried about small businesses I enjoy and obviously the market.
More worried about small businesses I enjoy and obviously the market.
Posted on 4/15/20 at 6:32 pm to Tbonepatron
quote:
Still working baw. Emergency funds still intact.
This
Posted on 4/15/20 at 6:34 pm to Sun God
quote:
I’m not working and I’ll be fine for longer than six months on savings.
Did you lose your job or get furloughed?
Posted on 4/15/20 at 6:34 pm to magildachunks
quote:
magildachunks
Do you ever start threads that don't suck dick?
Posted on 4/15/20 at 6:36 pm to magildachunks
quote:
The blowhards who preached what I said above, and now are panicking will avoid.
Name 1
Posted on 4/15/20 at 6:36 pm to fallguy_1978
I had no idea there was a such thing as interest rates going into the negative and possibly LOSING money! I just learned that today.
I have my savings in a high yield savings account with Ally (1.5%-2% interest) and apparently during recessions, it can drop to the negatives and I lose money.
Maybe if shite hits the fan I should store it under my bed
I have my savings in a high yield savings account with Ally (1.5%-2% interest) and apparently during recessions, it can drop to the negatives and I lose money.
Maybe if shite hits the fan I should store it under my bed
This post was edited on 4/15/20 at 6:37 pm
Posted on 4/15/20 at 6:36 pm to magildachunks
quote:
You want me to give examples of avoidance?
No.
Name names. Stop with this generic “the entire OT said muh” nonsense. Which posters?
Posted on 4/15/20 at 6:36 pm to LNCHBOX
quote:
LNCHBOX
Found one
Posted on 4/15/20 at 6:37 pm to LouisianaLady
quote:
I have my savings in a high yield savings account with Ally (1.5%-2% interest) and apparently during recessions, it can drop to the negatives and I lose money.
That's still losing money when you account for inflation most of the time.
Posted on 4/15/20 at 6:38 pm to LouisianaLady
quote:
Maybe if shite hits the fan I should store it under my bed
Grandparents grew up in the Great Depression.
By their example, bury it in the yard.
Harder for thieves to find.
Or in the walls.
Posted on 4/15/20 at 6:38 pm to magildachunks
Should be easy to verify with some of my posts. What would you like to wager on your ability to back that up?
Posted on 4/15/20 at 6:40 pm to Tbonepatron
quote:
Still working baw. Emergency funds still intact.
Ditto, baw.
Posted on 4/15/20 at 6:41 pm to magildachunks
It's still there.
Posted on 4/15/20 at 6:41 pm to magildachunks
It’s still there along with the other 6 months 
Posted on 4/15/20 at 6:42 pm to Sun God
6 months at current lifestyle is good, but I could always further reduce spending on non necessary stuff and immediately drop another 1500 a month in expenses.
Posted on 4/15/20 at 6:47 pm to LouisianaLady
quote:
I have my savings in a high yield savings account with Ally (1.5%-2% interest) and apparently during recessions, it can drop to the negatives and I lose money.
You don't really have a better choice if you'd prefer it to be liquid without some risk though. It might not be worth (in future dollars) what it's worth today though. Extremely low interest rates punish savers.
Posted on 4/15/20 at 6:48 pm to magildachunks
Lol u poor.
Posted on 4/15/20 at 6:49 pm to fallguy_1978
quote:
I definitely don't keep 6 months of pay in cash sitting in a savings account. That's too much money to be earning
.25% interest.
Ally HYSA baw
Posted on 4/15/20 at 6:53 pm to JohnnyKilroy
quote:
Ally HYSA baw
Apparently not during recessions though
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