The comments are a bunch of people who lost their jobs and survived the pandemic because they had an emergency fund.
Most people are financially stupid. I could survive the pandemic with unemployment and never dipping into my account.
"Emergency funds are for retards." Coli Poster
- Thread starter Sad Bunny
- Start date
Most people are financially stupid. I could survive the pandemic with unemployment and never dipping into my account.
Isn't unemployment like less than half of someone's usual pay?
Idk if that would be enough as most people have mortgages, cars, student loans etc
so in other words, coli nikkas just being coli nikkas
So if you had $50,000 cash in a savings account, not doing anything but gaining measly interest. But then decided, I will keep $5,000 in the account, and invest $45,000 in a brokerage (index funds/ETF, etc.), and the 5 grand is the "emergency fund" of 3 month expenses, that is retarded? Because you aren't investing all of it?
I'm with you OP, this thread is the Twilight Zone
I'm with you OP, this thread is the Twilight Zone
Unemployment goes by state. In my state people were getting $1300/week to stay home. Hard times
Yes during the pandemic (extra $600 per week) but not during normal timesUnemployment goes by state. In my state people were getting $1300/week to stay home. Hard times
Yeah man. I feel lost after that first page lol
We're talking pandemic or no? Then -600.. At $3000/month you're gonna go broke? If you're married that's $6000/month.. What exactly are you buying for 6k/month...Yes during the pandemic (extra $600 per week) but not during normal times
In PA:
"Your weekly benefit amount will be about 50% of your average weekly wages, subject to a weekly maximum of $573. Benefits are available for up to 26 weeks."
In DE, the max is $400 per week.
In NJ, it's $713 per week.
Hence why the average person needs an emergency fund. People have mortgages, car payments, kids, student loans etc.
Nah.. If you lose your job you should live you wage. Sell your house at an all time high, sell your car, kids gotta downgrade and poof you're living easy. The problem is people want to hold on to things that absolutely add nothing to you as a person.
Layoff could be temporary it could last two months or it could last eight months but that doesn't make sense because it's possible someone can get a similar paying job or even a higher-paying job....
Have a good night you are just hard headed
You're really stupid.. Broke nikkaz think like you and that's why 74% are hungry for a stimulus check. The average person is dumb as fukk when it comes to money.
Layoff could be temporary it could last two months or it could last eight months but that doesn't make sense because it's possible someone can get a similar paying job or even a higher-paying job....
Have a good night you are just hard headed
OfTheCross
Veteran
That's a myth. You don't need liquid cash for 99% of emergencies.
Especially not a new HVAC system
To be clear, I'm not advocating for anyone to live beyond their means. So, if an emergency does arise that you have to cover with a credit card, you should be able to pay it completely off in a few months because you're not overextending yourself.
Additionally, for people that rent, it's good to have some emergency rent funds because y'all will get evicted. Homeowners get years before being thrown out.
TheBigBopper
Banned
Just open an account with interactive brokers and throw your emergency money in a conservative dividend paying stock like KO or T. If you have an emergency, you can take out a 1.5% interest margin loan against your stock and keep your money working for you. The average person shouldn’t have more than $10k in a checking / savings account IMO.