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

LOL...well I;m gonna... whaddya think this thread was all about ..lol

I'm gonna call them up and tell them that Knight who lives in errm...somewhere in the world has more than $500 in his biscuit tin... :D
 
A person, a couple or a family, all need to be able to get at some cash in case something comes your way in an emergency type of situation. Could be a flood, fire or personal situation. That's why it is imperative to stash some cash, have credit available, or have a credit line applied on your property hopefully before you have retired. Just like insurance, hopefully you never have to use these sources, and they don't cost you anything to have just sit there either. Always good to have some sort of plan.
As Mathjak has said, the sampling is suspect. If the sample was from a very low income area.....of course you would most likely find the $500 figure.
 

hollydolly said:
LOL...well I;m gonna... whaddya think this thread was all about ..lol

I'm gonna call them up and tell them that Knight who lives in errm...somewhere in the world has more than $500 in his biscuit tin... :D
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That is just plain mean, now I'll have to hide my biscuit tin & since I'm into the CRS portion of life that is doubly mean.

CRS for those not familiar with the acronym CRS = Can't Remember Stuff
 
hearlady said:
Yes, I think everyone needs an emergency fund of AT LEAST $500. I don't think that's unreasonable for most people.
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I see an awful lot of very fortunate people posting here, and another few that could use a good dose of empathy.

Do any of you do charity work? Volunteer at the Salvation Army, a shelter,soup kitchen, food bank?
There are millions living in the "great" nation of the United States that for one reason or another,sometimes at fault,more often just victims of fate,that $500.00 is not only unsurmountable,but unimaginable.

Please right now give thanks to whatever deity you worship, and know that you are one of the few that were chosen to be comfortable!
 
Robusta said:
I see an awful lot of very fortunate people posting here, and another few that could use a good dose of empathy.

Do any of you do charity work? Volunteer at the Salvation Army, a shelter,soup kitchen, food bank?
There are millions living in the "great" nation of the United States that for one reason or another,sometimes at fault,more often just victims of fate,that $500.00 is not only unsurmountable,but unimaginable.

Please right now give thanks to whatever deity you worship, and know that you are one of the few that were chosen to be comfortable!
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Don't know that I was "chosen," or if my own choices and abilities and hard work made it happen.
 
I see an awful lot of very fortunate people posting here, and another few that could use a good dose of empathy......There are millions living in the "great" nation of the United States that for one reason or another,sometimes at fault,more often just victims of fate,that $500.00 is not only unsurmountable,but unimaginable....know that you are one of the few that were chosen to be comfortable!
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That's the major source of heated discussons and a never-ending debate. It's impossible to separate, and count, which people simply failed to be responsible for themselves, and which people have all sorts of issues that are beyond their control.I've seen guestimates' of 20% of the poor being guilty of substance abuse, and another 20% having some sort of mental disability.
Then there are the countless number of people who didn't pay attention in school, can't show up regularly for a job, paid no attention to their health or finances, and so many other failures to act as a responsible adult. It's difficult to have empathy when I see so few people that 'did everything right' and ended up in unfortunate circumstances.
The debate will go on.............
 
Falcon said:
I feel sorry for anybody who can't scrape together $500 for something they really need RIGHT NOW.
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I've known and know some like that. In some cases it seems to be a matter of choice because if they had $500 to put away for a rainy day because of some wind fall that came their way... they wouldn't have it very long as it would disappear and after a short period of time they wouldn't know what happened to it (or it least that is what they would claim to me).
 
Robusta said:
I see an awful lot of very fortunate people posting here, and another few that could use a good dose of empathy.

Do any of you do charity work? Volunteer at the Salvation Army, a shelter,soup kitchen, food bank?
There are millions living in the "great" nation of the United States that for one reason or another,sometimes at fault,more often just victims of fate,that $500.00 is not only unsurmountable,but unimaginable.

Please right now give thanks to whatever deity you worship, and know that you are one of the few that were chosen to be comfortable!
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Thank you Robusta...excellent post..
 
Falcon said:
I feel sorry for anybody who can't scrape together $500 for something they really need RIGHT NOW.
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...and me too Falcon but there's millions in the western world in that position...I've been there myself too in the distant past..robbing Peter to pay Paul just to put food on the table and keep the roof over my daughters' head , and for a long period of time too ...It's a foreign country I would hope never have to visit again ..
 
C'est Moi said:
Don't know that I was "chosen," or if my own choices and abilities and hard work made it happen.
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Also very true... but of course there's many with the willingness to work hard but the jobs are still just paying minimum wage, and with families to keep, and high rents and mortgages to pay, there's just too much month left after the salary runs out ...
 
I prefer to look at the problem on a macroeconomic level, so I'll post this link again (with apologizes to the people who think per capita data is useless, etc). The bottom 40% of folks only have 0.2% of US wealth, while the top 1% 34.6% (this is 2007 data!) and the disparity continues to get worse. All sorts of things go into this broad brush data, such as age, family size, education, health. And some are in poverty because of self-inflicted wounds, but there has to be some other major dynamic going on.

As some of you know, I'm hardly a SJW, and yes I voted for Trump, but we gotta fix this, because it continues to get worse. Most of us are of an age when it was possible to lift ourselves out of poverty thru hard work, and I would like for ALL of our grandchildren and as yet unborn great grand children to have that same opportunity.

let me suggest the first place to start is to get rid of the "war on drugs" and take a hard look at big pharma and what their products are doing to us.

Rant over :)

https://en.wikipedia.org/wiki/Wealth_in_the_United_States
 
Robusta said:
I see an awful lot of very fortunate people posting here, and another few that could use a good dose of empathy.

Do any of you do charity work? Volunteer at the Salvation Army, a shelter,soup kitchen, food bank?
There are millions living in the "great" nation of the United States that for one reason or another,sometimes at fault,more often just victims of fate,that $500.00 is not only unsurmountable,but unimaginable.

Please right now give thanks to whatever deity you worship, and know that you are one of the few that were chosen to be comfortable!
Click to expand...

I've done that, soup kitchens mostly
Been on both sides of that table

It's gettin' worse in the US

Don't see it turning around
Economy does that
Looks to be China's turn for a bit, but, heh, they're feeling it too, now
Other countries will rise
Used to be approx. 200 years to make the gamut from boom to bust
Maybe not that long anymore

Us seniors may be seeing the last of the rewards in regard to mainstream populous
 
In 1970 when there was a population of 203 million people in America. Jobs were plentiful. I was able to take advantage of jumping jobs to improve earnings. For whatever reason not everyone did that. That left a segment of the population living from paycheck to paycheck.

Job jumping now is limited to those with saleable skills.The impact of an increase of 122 million people since 1970. Technology replacing manual labor, higher paying manufacturing jobs lost to cheaper labor in other countries.




A catch 22 situation. People want "stuff" for less. The catch "stuff" can be made off shore & as pointed out [manufacturing jobs lost to cheaper labor in other countries], packed, shipped, processed thru ports, transported to stores and sold for less. Is there really a mystery why job loss and the inability to put aside $500.00 is happening?
 
Knight said:
In 1970 when there was a population of 203 million people in America. Jobs were plentiful. I was able to take advantage of jumping jobs to improve earnings. For whatever reason not everyone did that. That left a segment of the population living from paycheck to paycheck. Job jumping now is limited to those with saleable skills.The impact of an increase of 122 million people since 1970. Technology replacing manual labor, higher paying manufacturing jobs lost to cheaper labor in other countries. A catch 22 situation. People want "stuff" for less. The catch "stuff" can be made off shore & as pointed out [manufacturing jobs lost to cheaper labor in other countries], packed, shipped, processed thru ports, transported to stores and sold for less. Is there really a mystery why job loss and the inability to put aside $500.00 is happening?
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You're right. Human labor is rapidly becoming obsolete in many industries....yet the population continues to grow unchecked. The basic rules of "supply and demand" are now impacting millions of people with marginal skills....and it is only going to get worse. In the past, a vibrant Middle Class was the "glue" that held the nation together. That is no longer the case, and as the disparity in incomes continues to increase, the potential for major social issues grows larger every year.
 
Knight said:
That is just plain mean, now I'll have to hide my biscuit tin & since I'm into the CRS portion of life that is doubly mean.

CRS for those not familiar with the acronym CRS = Can't Remember Stuff
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LOL...well I'm in the same boat as you as far as CRS is..I can't remember what biscuit tin mine is in....if indeed I have any at all.. ;)
 
defining-your-path-to-success-inge-de-clippeleer-9-638.jpg
 
dpwspringer said:
I've known and know some like that. In some cases it seems to be a matter of choice because if they had $500 to put away for a rainy day because of some wind fall that came their way... they wouldn't have it very long as it would disappear and after a short period of time they wouldn't know what happened to it (or it least that is what they would claim to me).
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That always amazes me.

You could give everyone the same amount of money today...and tomorrow some people will be richer [or poorer] than others.

Apparently, some people are natural born savers while others are inherently spenders.

I am one of the savers. One of my earliest childhood memories was trying to take my piggy bank down from a shelf so I could count my money [I loved to count my money] dropping it, sending pieces of the piggy along with nickels, dimes, quarters and half-dollars scattered all across my bedroom. Then I remember my parents replacing piggy with an oversize pickle jar!

.
 
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