Do You Have more than $500 Dollars put aside for a rainy day?

debodun said:
Oh, a lot more than $500! And the more I get, the less likely I want to spend.
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ooooh I know that feeling well. I used to spend whatever I had when I was younger...not that I had a great deal but I would spend it as soon as I got it...but not now. I'm exactly the same as you Deb, the more I hold onto it . I think the older you get the more you realise just how important it is that we have a financial security blanket..even if it's only just a few ££'s to make a repair or pay a bill, it can make a huge difference to someone's self of wellbeing..
 
A couple decades ago there was a financial guru named Charles J. Givens. Givens encouraged everyone to have a little stash of cash, he called it attitude money. The idea being that no matter how bad things get you know you have that little stash to help you over a rough spot. Sometimes that knowledge is comforting enough to get you through another day.
 
Aunt Bea said:
A couple decades ago there was a financial guru named Charles J. Givens. Givens encouraged everyone to have a little stash of cash, he called it attitude money. The idea being that no matter how bad things get you know you have that little stash to help you over a rough spot. Sometimes that knowledge is comforting enough to get you through another day.
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I agree. I also think that husbands and wives should each have a bit of their own money, separate from the other. Saves a lot of unnecessary "discussion." :lol:
 
Aunt Bea said:
A couple decades ago there was a financial guru named Charles J. Givens. Givens encouraged everyone to have a little stash of cash, he called it attitude money. The idea being that no matter how bad things get you know you have that little stash to help you over a rough spot. Sometimes that knowledge is comforting enough to get you through another day.
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Back in the 1950s my mom used to keep a little stash of money (usually just a few dollars) hidden......change leftover from groceries. She later said it comforted her. Being totally broke is the pits.
 
Yes
In another thread I mentioned I am a saver. When I was working I always had a separate DO NOT TOUCH account with 6 months expenses in it, because you never know.
 
applecruncher said:
Back in the 1950s my mom used to keep a little stash of money (usually just a few dollars) hidden......change leftover from groceries. She later said it comforted her. Being totally broke is the pits.
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I agree!

Many people can't understand the difference between being poor and stone cold broke.

Having a little money gives you options and options give you hope.
 
ProsperosDaughter said:
Yes
In another thread I mentioned I am a saver. When I was working I always had a separate DO NOT TOUCH account with 6 months expenses in it, because you never know.
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yes also agreed... if people can manage that , it's definitely something that is a decent cushion , financial analysts say that 3 months minimum salary is what you should have saved... but I'm sure people who are on minimum wage or on very low income and who are already struggling just can't imagine being able to do that ... I've been in that dark place myself many moons ago, so I can really understand
 
A lot of people make bad decisions with money: over spend with credit cards, live beyond their means, have more kids that they can comfortably support, etc.
I am single and not a high-maintenance person even though I could probably have almost anything I wanted. A life of frugal living has enabled me to save a hefty nest egg. On top of that, I get a good pension and SSI and pretty good interest on my investment in tax-free municipal securities. My car is a 15-year-old Honda, my clothes are horribly dated in regard to fashion (but who cares? I'm not going to be in any beauty pageants for sure) and I live in a house I inherited. All I have to do is buy food (which in my case had averaged about $2600 a year recently), pay for car insurance, maintenance and gas. Home utilities (electric, cable which includes phone and TV, heating oil), garbage removal, property taxes and homeowner's insurance, pay for any OOP medical expenses and take my cat to the vet once a year.

I don't have a credit card. When I open my wallet and see it's getting close to the end of the month, I know to stop spending.
 
.

Because of bad judgment a friend has fallen on very hard times.

She vocalizes her realization that it was her previous bad decisions that got her into the mess she is in now. Yet, she keeps blaming others for her own bad decisions.
 
My water heater took a dive on me over the holidays. It cost me somewhere around $900.00 to replace it between Christmas and New Year's Day. My plumber expects to be paid when they send out the bill. I'm not sure if having $500.00 is even enough for emergencies these days. Yes, they take credit cards and that's how I pay, so I can collect the airline miles, but then I also have the money on hand to pay the bill when it comes in the mail.

It is estimated in the U.S. that the majority of seniors never put enough away to outlive their money while they were working and if they reach their 80's, most are broke. I know of a few right now in their late 60's that are already broke and live soley on their SS check.

A friend of mine that I go to church with allowed his adult children to bleed him dry. He complains about it every week. I keep telling him to tell his children that he needs paid back, but he doesn't want to upset them, or they may not come to visit him. I think he did something wrong while he was raising them, but I am not about to go there with him on my speculation.
 

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