Could You Cover a $2000 Emergency Right Now?

[IsThatBrothaMouzone?]

Would you be able to handle this type of situation in which a $2000 note needs to be paid immediately?

If not, how are you working to saving up that type of money?

Yep, cold cash, selling some stock or using a credit card.

 

[Monsanto]

This has always been a misleading gauge of middle class wealth. Even those with money can’t cover a $2,000 emergency expense without feeling it. Unless you’re making millions, a sudden $2,000 expense on something that isn’t superficial will hurt.

I'm not even looking at it like that, economic downturns, American medical bills, accidents, etc. When they happen they don't care which economic class you belong to, they need to be handled.

As black adults we should try to remove ourselves from unneeded stress. We have to do more than others because things hit us harder.

 

[DaKidFromNoWhere]

After Hurricane Matthew I promised myself I will never let my bank account get below 2k and I have been blessed for it not to happen.
Funny thing is a lot of people could have at least 1k in their account at all times if they spend their money wisely.
Some folks just have to live beyond their means.

 

[The Realist Perspective]

Stop pocket watching

Stop pocket watching he said. Quit pocket commenting then fakkit. You came into this thread you weirdo.

I got 2k saved. The peace of mind of having an emergency fund is unparalleled. You start giving less and less of a fukk if you end up getting fired.

 

[PrnzHakeem]

I only see this nikka posting to brag about money or something of that nature

I'm an old SOHH poster that was posting about bullshyt, running up in female posters, causing TLR drama and reading the newest Ether vs Takeover thread.

I'm older, married, and richer. What should I be posting about?

 

[chineebai]

I don't feel comfortable without at least 10k cash savings.

 

[PrnzHakeem]

If you already have 25k you shouldn’t be waiting to pay down the credit cards (unless you are in the no interest period). But otherwise you are paying interest for no reason. Once you pass a couple thousand in savings, you should be paying off all your debt. Once all your debt is paid off and you can pay off your credit card every month, then you can get back to saving, investing, etc. You’re losing money on interest when you have the money to pay it off.

You should go back and look at all your statements over the past year and see how much you’ve paid in interest.

I understand all this, I'm just not pressed about it. Also, I'm not carrying the same balance over every month. I'm still going to make my investment contributions a priority, then pay down my monthly balance every period. Some months I just happen to run up the credit card a bit more than normal. I'm not gonna dip into my emergency savings or my regular savings to pay it down. I'll catch it next month.

 

[I Really Mean It]

i could pull $20,000 out my account to save my family from death in one hour today.....if u can't do that then...

Most people can’t do that. It’s great that you have that luxury, but that doesn’t make you better than those who can’t.

 

[Dwolf]

Whats 2k to a coli 6figure nikka

 

[Paper Boi]

yes and voting in that poll better not jinx my ass

 

[Pseudonym]

10k?

If I can’t put it on a credit card then I’m out

actually I would be able to take it out 401k but I’d rather do credit card

 

[Marc Spector]

im a 6 figure 6 foot coli breh

 

[At30wecashout]

Yes. I could cover it a few times without fretting.

 

[CashmereThoughts]

only on thecoli.com do 90 percent have 2k lying around.

 

[CashmereThoughts]

Yes, but….What kinda emergency is $2000.00…. Js

the cost of an emergency surgey that your insurance does not cover, your water heater flodding your basement, engine problems.