Raise your hand if you don't have access to $500 for emergency

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's one thing to make a decision as a family that you won't lend the money to your friends. It's entirely different to come on here to ask such a moronic and tone deaf question. Millions of people don't have any savings. Millions of people don't have healthcare. Millions of people live paycheck to paycheck.

+2

OP- do you feel superior now?

DP.. to me, some of the "millions of people" are in the situation that they are in due to their own making. They refuse to save and cut spending.

Yes, millions can't afford healthcare. That's a shameful indictment of the healthcare system in this country. But,we aren't talking about a $6000 medical bill here.

Wow there’s tone deaf in a bubble then there’s you. Do you know what the basic cost of living compared to wages is right now? Should they stop driving to their job to save on gas, or stop eating dinner every other night? Where do you suggest they cut, oh wise financial counselor? Do tell.

[Anonymous]

We “loaned” my sister in law $1500. She’s a dr but just started her own practice and then had a baby. She’s in a country where $1500 goes a lot further.

She talked and talked about paying it back.

Now it just doesn’t come up.

We knew what we were doing and can afford it.
For family you do it especially if they have kids. Otherwise, never.

[Anonymous]

Anonymous wrote:At least one million Americans cannot. And many of them are working their asses off to try to have a savings buffer but really don’t have the income to do it.

Way, way way more than one million Americans cannot. I can’t believe that people don’t know this.
Relatively small, unexpected expenses, such as a car repair or a modest medical bill, can be a hardship for many families. When faced with a hypothetical expense of $400, 64 percent of all adults in November 2020 said they would have covered it exclusively using cash, savings, or a credit card paid off at the next statement (referred to, altogether, as "cash or its equivalent")—largely unchanged from 2019 (figure 17).
https://www.federalreserve.gov/publications/2021-economic-well-being-of-us-households-in-2020-dealing-with-unexpected-expenses.htm

[Anonymous]

My husband and I are retired. We just applied for social security. That money will go to a sister, son and family, grandchild because
1. we saved enough for ourselves and
2. they need help.
BTDT no one helped us and it was a struggle. If we can relieve some financial stress we do it no questions asked. Today is the end of the month, everyone needs food and gas help. Son got $500, sister got $200, grandson in college got $300. One social security check will be enough to help them all.
We also pay grandson's vehicle insurance. He tried but instead of him avoiding us over that little thing we just pay it. He always says thank you and he's a really good smart kid. We outright bought his vehicle too. My husband said do good in school that's all we ask. Straight A student in his second year. He has no debt. We love him deeply.

We have a second account for our medical needs and $16,000 on a HSA card we never used. We could have withdrawn that but we didn't need it. That buys my granddaughter her breathing treatments and glass when needed, medicine. Clothes, shoes, school supplies, whatever, we buy.
This is how God intended us to be. Not judgmental, not greedy, be humble and loving and caring. If you can share, share. Plus on the selfish side, it makes us feel good. My kids have no savings. My sister has no savings. My grandson has no savings. Ever been helped ? The profound feeling of being able to breathe ? THAT is why we do it. We also don't wait for them to ask, we just do it.

But we have no kids at home or in college, nor do we have an extravagant lifestyle. Minimal bills. Not bragging at all. It just happened that way. Nothing in this world matters more to us than being able to help. And since God helped us get here, we love earning God points. I never dreamed we'd be where we are now. We sure didn't start out this way. No lie. Broke should have been our last name.
Maybe one day we'll all have what we need and some wants taken care of too. Wouldn't that be wonderful ?

Dang. I feel a Barry Manilow song about to bust out.
Looks like we made it. LOL.

[Anonymous]

Anonymous wrote:I think this is more common than people realize - also people tend to assume everyone is in the same situation as them.

I live in Arlington in a neighborhood of $750k-$1.5M homes. I have heard plenty of people make comments that assume that every family has an extra $50 - 500 for a coach gift, impromptu dinner out, last minute invite to a baseball game or long weekend at a cabin. I’m also heard comments that acknowledge an unplanned expense at the end of the month is an issue - can’t purchase school supplies until payday, can’t take care of a tree that came down in a storm immediately, can’t fix a car after a fender bender, thought the recital costume payment was next month. These comments are made as if everyone shared the same stress and dread over unplanned bills.

What? It’s incredibly NORMAL to not have enough money for various unexpected items. Do you really live in that much of a bubble! Money doesn’t grow on trees, remember…

[Anonymous]

Anonymous wrote:For many, many years I did not have any extra money. I lived paycheck to paycheck and knew to the penny how much money I had in my bank account. Not everybody has emergency funds. My circumstances is that I grew up poor, got my college education partially by tuition reimbursement from companies that worked at, adèle I took the plunge at the age of 27 quit my job, got student loans and finished my degree. And after college I still lived paycheck to paycheck because I had to pay my loans back, had car payments, had to pay rent, etc. it was after I was out of debt that I finally start saving. I was never a big spender. It’s just I did not have Rich parents to set me on my path. I’m just trying to give you a different perspective as to why someone might not have emergency funds. It happens.

Same here, and I worked MUCH harder and significantly more hours then than I do now.

My favorite was when COVID hit and every family was supposed to have thousands in the bank to handle all the unexpected expenses (no, the stimulus was not enough to do so alone), but corporations, like airlines, IMMEDIATELY started screaming about how they needed millions infused directly into their pockets from the government *immediately* or they would go under in two weeks and Take Away All The Jobs.

[Anonymous]

I have no problem helping friends and I did a few times in my 20’s. Just make it a gift. The person will say “no, it’s a loan and I will pay you back” and just say “okay, but there’s no rush and I’ll think of it as a gift.”

[Anonymous]

This was me 20 years ago. I was always short on rent and other bills. I learned to always pay my rent two months in advance and still do the same now. I pay my bills weekly instead of monthly.

[Anonymous]

Anonymous wrote:At least one million Americans cannot. And many of them are working their asses off to try to have a savings buffer but really don’t have the income to do it.

+1

Last night I couldn't get to the machine to pay to get out of the parking garage at the National Hospital Center because the people in front of me didn't have a credit card that could handle the $7 fee. Believe me, they were trying every card they each had.

It took me a minute or two to figure out what was going on because of the way their bodies were blocking the machine. I finally stepped up, slid my arm in between them and put in my credit card to pay their fee.

The lady who had been discharged cried. She was exhausted and this was the straw that was breaking the camel's back.

So do I believe that people don't have access to $500 for an emergency? Heck, yeah. Just ask those ladies I was in line behind last night.

[Anonymous]

You realize the minimum wage in this country is less than $300/a week, right? Even if you make $15/hr, you’re only netting $600/week before taxes. No one wants to NOT have savings for an emergency. Most people simply can’t afford to save money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well to answer the question on the title, yes we do have 500$ but DH has also had friends hit him up to borrow (knowing full well it won't ever be paid back). It probably is fairly common for friends to ask to borrow. 500$ seems like a crazy small amount but some people love pay check to pay check.

Such a "crazy small amount" but you won't help. Lol.

+1

$500 isn't even a small amount to me, but I'd give it to a friend if they needed it.

[Anonymous]

Anonymous wrote:My husband and I are retired. We just applied for social security. That money will go to a sister, son and family, grandchild because
1. we saved enough for ourselves and
2. they need help.
BTDT no one helped us and it was a struggle. If we can relieve some financial stress we do it no questions asked. Today is the end of the month, everyone needs food and gas help. Son got $500, sister got $200, grandson in college got $300. One social security check will be enough to help them all.
We also pay grandson's vehicle insurance. He tried but instead of him avoiding us over that little thing we just pay it. He always says thank you and he's a really good smart kid. We outright bought his vehicle too. My husband said do good in school that's all we ask. Straight A student in his second year. He has no debt. We love him deeply.

We have a second account for our medical needs and $16,000 on a HSA card we never used. We could have withdrawn that but we didn't need it. That buys my granddaughter her breathing treatments and glass when needed, medicine. Clothes, shoes, school supplies, whatever, we buy.
This is how God intended us to be. Not judgmental, not greedy, be humble and loving and caring. If you can share, share. Plus on the selfish side, it makes us feel good. My kids have no savings. My sister has no savings. My grandson has no savings. Ever been helped ? The profound feeling of being able to breathe ? THAT is why we do it. We also don't wait for them to ask, we just do it.

But we have no kids at home or in college, nor do we have an extravagant lifestyle. Minimal bills. Not bragging at all. It just happened that way. Nothing in this world matters more to us than being able to help. And since God helped us get here, we love earning God points. I never dreamed we'd be where we are now. We sure didn't start out this way. No lie. Broke should have been our last name.
Maybe one day we'll all have what we need and some wants taken care of too. Wouldn't that be wonderful ?

Dang. I feel a Barry Manilow song about to bust out.
Looks like we made it. LOL.

I love this. Thanks for sharing.

[Anonymous]

Anonymous wrote:At least one million Americans cannot. And many of them are working their asses off to try to have a savings buffer but really don’t have the income to do it.

+1

Widowed sibling working FT in back office banking job in another state with a lower COL, thankfully. We provided her with $ to keep in an emergency account.

[Anonymous]

don't give it to them. they have it they just don't want to wasite it.