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Posted: 8/11/2011 6:04:48 PM EDT
[#1]
Not a problem! I can handle a $1000.00 emergency expense!
However, I would not be able to make the mortgage payment afterwards! (P.S. I already had my rainy day, unemployed for 2 years and almost $60k in medical bills!) |
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Posted: 8/11/2011 6:06:03 PM EDT
[#2]
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Posted: 8/11/2011 6:06:28 PM EDT
[#3]
Yes, many of them can. They just don't want to make the sacrifices to do so. |
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Posted: 8/11/2011 6:06:33 PM EDT
[#4]
Many of these same people that cant put their hands on $1000 cash have nicer houses, flat screen TV's, and cars than I do.
Interesting how that all works out. |
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Posted: 8/11/2011 6:06:49 PM EDT
[#5]
64%? WOW! That is crazy. I want to see that question asked of only those over age 30.
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Posted: 8/11/2011 6:07:17 PM EDT
[#6]
Quoted: The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card. Shit, if you can't afford $1000, then you certainly can't afford to do that either.  That type of thinking is precisely why so many people can't afford a $1000 emergency. Gotta make their minimum payments! |
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Posted: 8/11/2011 6:07:25 PM EDT
[#7]
Yeah, I heard that this morning as well. I have mixed emotions about it. Some people conserve, yet still don't make enough money to get by but other just blow everything they get and live paycheck to paycheck.
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Posted: 8/11/2011 6:08:06 PM EDT
[#8]
Quoted: Many of these same people that cant put their hands on $1000 cash have nicer houses, flat screen TV's, and cars than I do. Interesting how that all works out. Yep, all with a vig attached. |
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Posted: 8/11/2011 6:08:13 PM EDT
[#9]
I can't.
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Posted: 8/11/2011 6:09:42 PM EDT
[#10]
I'm always able to sock back a nice emergency fund...and then an emergency magically happens that wipes that shit out.
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Posted: 8/11/2011 6:09:44 PM EDT
[#11]
Didn't you do this thread already? About a month ago? I'm sure of it.
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Posted: 8/11/2011 6:09:51 PM EDT
[#12]
Quoted: Yeah, I heard that this morning as well. I have mixed emotions about it. Some people conserve, yet still don't make enough money to get by but other just blow everything they get and live paycheck to paycheck. When 64% of Americans can't get $1000 to save their lives, it's no wonder why the finances of the country are the way they are. |
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Posted: 8/11/2011 6:10:19 PM EDT
[#13]
64 percent? I ain't buying that number.
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Posted: 8/11/2011 6:10:33 PM EDT
[#14]
Quoted: Didn't you do this thread already? About a month ago? I'm sure of it. ??? I'm not sure. The article in the OP is from today. |
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Posted: 8/11/2011 6:10:58 PM EDT
[#15]
Quoted:
I'm always able to sock back a nice emergency fund...and then an emergency magically happens that wipes that shit out. Yup same here. |
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Posted: 8/11/2011 6:11:28 PM EDT
[#16]
Bullshiet.
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Posted: 8/11/2011 6:12:28 PM EDT
[#17]
And most of them have a $500 smart phone.
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Posted: 8/11/2011 6:12:35 PM EDT
[#18]
One step forward, two steps back. That seems to be how it is.
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Posted: 8/11/2011 6:13:27 PM EDT
[#19]
I do w/o stuff to save money.....
I don't take vacations to save money.... That's why they have no savings. |
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Posted: 8/11/2011 6:13:30 PM EDT
[#20]
I've always had at least $1000 reserve in the bank... even back when I was making minimum wage.
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Posted: 8/11/2011 6:14:01 PM EDT
[#21]
I could have a year ago.
not now. i miss my benelli 
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Posted: 8/11/2011 6:19:22 PM EDT
[#22]
I believe it. Helll that was me a couple years ago. Now all spending stops when I drop below 5k.
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Posted: 8/11/2011 6:22:10 PM EDT
[#23]
Yet a considerably higher percentage of Americans have shit they don't need.
It's not that hard. Your simplified priorities are as follows and in this order. 1) Mandatory Bills (Shelter, Heat, Food) 2) Periodic Savings Goals (Weekly, Bi-Weekly, or Monthly) 3) Everything else (Hookers and Blow) If you aren't putting a check mark next to #1 and #2 each week then you simply can't afford anything that falls under category #3. No toys, no trips, no luxuries until you take care of business. Pay yourself first, it's just that simple. |
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Posted: 8/11/2011 6:22:34 PM EDT
[#24]
Quoted:
I've always had at least $1000 reserve in the bank... even back when I was making minimum wage. Yes. Even back in the late 1970's during the last Great Recession. |
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Posted: 8/11/2011 6:22:51 PM EDT
[#25]
Quoted:
I'm always able to sock back a nice emergency fund...and then an emergency magically happens that wipes that shit out. That's exactly right. The cost of living never changes. It's everything you got. If I get a windfall now it is just a sign something that costs that much is about to happen. |
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Posted: 8/11/2011 6:23:14 PM EDT
[#26]
The $1000 ones are easy....It's the $5k to $10k that are a bitch.
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Posted: 8/11/2011 6:23:46 PM EDT
[#27]
Quoted:
Quoted:
Didn't you do this thread already? About a month ago? I'm sure of it. ??? I'm not sure. The article in the OP is from today. Found it. http://www.ar15.com/forums/t_1_5/1195263_All_Bumps__No_Road___In_a_pinch__half_of_U_S__families_can_t_find__2_000.html That article said 50% COULD find $2k, this one says 64% CAN'T find $1k. Someone's methodology is wrong.  (not referring to you, TT)
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Posted: 8/11/2011 6:23:56 PM EDT
[#28]
Quoted:
I've always had at least $1000 reserve in the bank... even back when I was making minimum wage. Yep, I'm 24, in college, working 36 hours a week. I pay part of my college, my parents help me. I have no issue admitting that, but they will be getting cash back in their accounts once I'm done and get a good job. Honest to God. I haven't been below $2000 the last 3 years of my life, and I own my own car - buying a new one by next summer as well - and I pay all of my bills. I do have expensive hobbies though, or my minimum would be $5000. We are on ARFCOM, after all.  That and this nice cigar I'm enjoying on my deck. 
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Posted: 8/11/2011 6:24:57 PM EDT
[#29]
I wonder what part of that 64% voted for the kenyan?
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Posted: 8/11/2011 6:26:39 PM EDT
[#30]
Quoted: This isn't due to unemployment or low pay; most people can't manage money effectively.Most Americans can't afford a $1,000 emergency expenseBy Jessica Dickler August 11, 2011: 11:19 AM ET http://money.cnn.com/2011/08/10/pf/emergency_fund/index.htm?hpt=hp_t2 A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday. Only 36% said they would tap their rainy day funds for an emergency. The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card. |
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Posted: 8/11/2011 6:26:40 PM EDT
[#31]
It would come down to me selling a few watches, camera lenses, or gun accessories if times got really tough and I needed cash now. Oh, yeah, my CBR600 too.
My emergency fund is growing though, along with general emergency supplies. |
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Posted: 8/11/2011 6:30:19 PM EDT
[#32]
I understand this economy has left a lot of people in a tough spot, but I have to think most of these people just have no priorities and no discipline. I bet most of them have cable tv, and a case of beer or a carton of smokes in the house.
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Posted: 8/11/2011 6:31:44 PM EDT
[#33]
For many of them it's just a matter of priorities. I've got a neighbor who makes a hell of a lot more than I do, but she is always broke, for example.
Posted Via AR15.Com Mobile |
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Posted: 8/11/2011 6:33:12 PM EDT
[#34]
Quoted:
I'm always able to sock back a nice emergency fund...and then an emergency magically happens that wipes that shit out. +1 
I'm paying for a new compressor for our refrigerator tomorrow.
We still have a good amount of $ in our emergency fund, but I've been trying to grow it a bit more and stuff seems to start breaking once I get a little bit ahead. That Murphy guy is a real asshole! |
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Posted: 8/11/2011 6:33:14 PM EDT
[#35]
Well I'm happy to say I could handel 1,000, but I would only have 600 left in my savings. I have really been trying hard to stop spending on my wants and only spend on my needs so I can save some up.
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Posted: 8/11/2011 6:34:28 PM EDT
[#36]
I'll openly admit that my fiance and I are screwed should something happen at this point. We are slowly getting on our feet though.
(having to pay for a used truck and first/last/deposit on an apartment in the same month is killing us) After that, we should be good to go in a few months provided I get a better job. |
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Posted: 8/11/2011 6:38:09 PM EDT
[#37]
Quoted:
Yes, many of them can. They just don't want to make the sacrifices to do so. Bingo Stop spending $30-$40 a week on booze people... |
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Posted: 8/11/2011 6:39:11 PM EDT
[#38]
Quoted:
64%? WOW! That is crazy. I want to see that question asked of only those over age 30. You should find information of average accumulated wealth across different races... its amazing the difference... |
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Posted: 8/11/2011 6:40:21 PM EDT
[#39]
I am an evil white man.
I can afford a $2000 emergency gun purchase. I am not ashamed of my status. I earned it. I recently had a surprise $6000 emergency air conditioner replacement of one of my 3 units. You think I am bragging? Do you hate me for being able to take this hit? I wish all of us were in the position to do this. But you can't have my money. I believe in all of you. You could be where I am, I will help you all you need. That is capitalism, and I bet that someone reading this hates me for being a rich white guy. If you do, you are the enemy in a game to the death. Get your ass to mars. |
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Posted: 8/11/2011 6:41:31 PM EDT
[#40]
pathetic, never lived check to check even when I moved out at 18, if you don't have 1K saved by 25, no offence to anyone, but your a loser.
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Posted: 8/11/2011 6:43:06 PM EDT
[#41]
I'm not one of them but the statistic doesn't surprise me.
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Posted: 8/11/2011 6:44:55 PM EDT
[#42]
Quoted:
I am an evil white man. I can afford a $2000 emergency gun purchase. I am not ashamed of my status. I earned it. I recently had a surprise $6000 emergency air conditioner replacement of one of my 3 units. You think I am bragging? Do you hate me for being able to take this hit? I wish all of us were in the position to do this. But you can't have my money. I believe in all of you. You could be where I am, I will help you all you need. That is capitalism, and I bet that someone reading this hates me for being a rich white guy. If you do, you are the enemy in a game to the death. Get your ass to mars. Two Thumbs Up !!! |
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Posted: 8/11/2011 6:53:23 PM EDT
[#43]
Quoted: Quoted: The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card. Shit, if you can't afford $1000, then you certainly can't afford to do that either. That type of thinking is precisely why so many people can't afford a $1000 emergency. Gotta make their minimum payments!  |
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Posted: 8/11/2011 6:56:29 PM EDT
[#44]
Something tells me that 64% of Americans has $1000 worth of big screen TVs, Blu-ray players, and fancy wheels for the car in their house.
In the end, this is my give a damn face. 
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Posted: 8/11/2011 6:57:39 PM EDT
[#45]
Quoted:
I'm always able to sock back a nice emergency fund...and then an emergency magically happens that wipes that shit out. You got that fucking right!!! Happened to me many times. Makes me wonder what would happen if I hit the lottery
Well I dont wonder really, I know what would happen. I would die within 6 months Yes its important to have savings for emergencies . |
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Posted: 8/11/2011 6:59:46 PM EDT
[#46]
I think the big problem for most people is getting their head around the notion of having money that can not be used to expand their immediate comfort.
I put a fixed quantity into savings each week and at that point it leaves my radar other than when I log on to that account and think about how nice it is to have some sleep money put away. You just have to get used to the idea of having money that can't be touched and I think that's hard for a lot of people because they REALLY want that new car or that 3D TV. It's just not that hard to do. Build it in small chunks so you don't miss it. Use your banks tools to make it automatic so you don't think about it. |
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Posted: 8/11/2011 7:01:16 PM EDT
[#47]
Quoted: Quoted: Quoted: Didn't you do this thread already? About a month ago? I'm sure of it. ??? I'm not sure. The article in the OP is from today. Found it. http://www.ar15.com/forums/t_1_5/1195263_All_Bumps__No_Road___In_a_pinch__half_of_U_S__families_can_t_find__2_000.html That article said 50% COULD find $2k, this one says 64% CAN'T find $1k. Someone's methodology is wrong. (not referring to you, TT)LOL, I duped myself with contradicting articles. I totally forgot about that one. |
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Posted: 8/11/2011 7:02:21 PM EDT
[#48]
Quoted:
I'm always able to sock back a nice emergency fund...and then an emergency magically happens that wipes that shit out. Without fail. This time it's going to be the friggin' dog. |
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Posted: 8/11/2011 7:03:14 PM EDT
[#49]
Quoted:
I'm always able to sock back a nice emergency fund...and then an emergency magically happens that wipes that shit out. Me too..... |
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Posted: 8/11/2011 7:03:19 PM EDT
[#50]
I'm as middle class as they come and I wouldn't even miss $1000.00. Of course I don't have CC bills, car loans, cell phones, my TV is 15 years old, I fix most of my own stuff and tend to buy used if possible. I'll never keep up with the "Jonses" but then again, I don't carry the debt Mr Jones does either.
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