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



## hollydolly

According to this article... the majority of Americans  don't have enough saving to cover a $500 dollar unexpected  expense.. 

What do you think as American's...do you know people like this..are you one of them, having worked all your life maybe, and find yourself living week to week?  It would appear the young millennials are the ones who are most prepared with savings to fall back on.....

http://money.cnn.com/2017/01/12/pf/americans-lack-of-savings/index.html


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## Lon

Of Course


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## applecruncher

hmmm.  $500.

Gee, hollyholly, thanks for the information.  I'll pass on answering your question....not anyone's business.

*However, you neglected to mention that one in four UK families have less than £95  ($131 USD) in savings. 


*Kinda pathetic.  
Just thought I'd mention that since you're so intent on comparing the US with the UK. :wink: 
(btw both our sources are current...2017) 

https://www.theguardian.com/society...ies-have-less-than-95-in-savings-report-finds


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## Aunt Bea

It is sad but not surprising when you add in the fact that 20% of all Americans are on some form of government assistance, food stamps, welfare, etc...

I also think that many people today use a credit card as a rainy day fund and settle up every year when they get an income tax refund or some other sort of windfall.

My older sister explained to me one day that she needs to lease a new car every three years because she can't afford the possibility of an expensive repair bill on a used car.


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## hollydolly

Oh you know what AC I would have put money on that you would have answered that in an ill mannered way...pray tell where I'm intent on comparing the US with the UK... I simply asked a question of the people on here the vast majority who are Americans' and people I consider friends'.. rather than just reading an article and believing it without question.

Pathetic?... ok..if you say so... , but if you have nothing more intelligent to say about the subject then allow others who have , speak ..


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## hollydolly

Aunt Bea thank you ...yes I read that in the article about many people having to rely on credit cards oftentimes.. ..it's the same I'm sure in the UK..I don't have any figures.. I did read some time ago that most people are just one paycheck away from financial disaster.

What's harder to take is that so many people may have worked hard all their life, only to find themselves struggling financially in the winter of their years..


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## Falcon

$500 ?    That's chump change.


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## applecruncher

Aunt Bea said:


> It is sad but not surprising when you add in the fact that 20% of all Americans are on some form of government assistance, food stamps, welfare, etc...
> 
> I also think that many people today use a credit card as a rainy day fund and settle up every year when they get an income tax refund or some other sort of windfall.
> 
> My older sister explained to me one day that she needs to lease a new car every three years because she can't afford the possibility of an expensive repair bill on a used car.



That 20% is lower that the 64% of Brits receiving welfare.

_​__​_"The welfare state is a big part of British family life, with 20.3 million families receiving some kind of benefit (64% of all families),"​_

​_https://www.theguardian.com/politics/2013/apr/06/welfare-britain-facts-myths


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## mathjak107

every month there is a new article about how much supposedly americans can't come up with . 

know one knows . there is not even a formal census anymore that asks what we all have . it is just done by a small random sampling .

truthfully , who cares what others have or don't have . there are billions made by poorer american's doing all sorts of off the book stuff both legal and not legal .

if more people worried about what they have and not what others have or don't have they would be better off .


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## hollydolly

mathjak107 said:


> every month there is a new article about how much supposedly americans can't come up with .
> 
> know one knows . there is not even a formal census anymore that asks what we all have . it is just done by a small random sampling .
> 
> truthfully ,* who cares what others have or don't have . there are billions made by poorer american s doing all sorts of off the book stuff *



I care about people who don't have much...I worked until I retired for a charity who provided for those who had nothing, at all..not even a home most of them.. ..but I absolutely agree, yes there are millions in many countries being made poorer by those who pay no taxes and working for cash in hand..


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## Aunt Bea

hollydolly said:


> Aunt Bea thank you ...yes I read that in the article about many people having to rely on credit cards oftentimes.. ..it's the same I'm sure in the UK..I don't have any figures.. I did read some time ago that most people are just one paycheck away from financial disaster.
> 
> What's harder to take is that so many people may have worked hard all their life, only to find themselves struggling financially in the winter of their years..



I'm always curious to learn how people live and approach life.  I think that we all have our own personal financial edge that we learn to manage instinctively.  Some people feel that a twenty dollar bill tucked in their shoe is enough of a cushion and some feel the need to have several million stashed in an offshore account.


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## hollydolly

Aunt Bea said:


> I'm always curious to learn how people live and approach life.  I think that we all have our own personal financial edge that we learn to manage instinctively.  Some people feel that a twenty dollar bill tucked in their shoe is enough of a cushion and some feel the need to have several million stashed in an offshore account.



Oh so true... I raised my daughter alone from the time she was 6 years old , trying to juggle several minimum paid part-time jobs around her school hours ...and you're so right, if I had £5 saved I was relieved that I had something to buy a loaf of bread with if I ran out.... To this day I regret wishing her little life away for her to get old enough so I could work full time to bring in a decent wage for the 2 of us..


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## SeaBreeze

I have much more than $500 available for a rainy day, but my husband and I have made a point of saving during our working years and not buying anything that we couldn't afford to pay for...always made sure a credit card could be paid in full for any purchase, etc. 

But, we never had children and were blessed with pretty good health all these years, I know a lot of single parents, those with lots of medical bills and other difficulties in life do live paycheck to paycheck and wouldn't have any extra money set aside for rainy days.  I feel bad for those people, it must be very stressful for them. I don't know any personally, I usually never asked friends, coworkers or neighbors about their personal finances.  No matter what country, there are many in this world who struggle to get by or live in poverty.


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## rkunsaw

I'm in better shape financially than I've ever been. But, Hollydolly, I sure know what you're talking about. There were times in my younger years when I didn't have an extra dime at the end of the week. Back then, fortunately, I didn't have a credit card either.

A very good question, it's important to know where we are compared to others. It might spur some on to save more if they realize they don't have enough.


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## Warrigal

This thread just serves to remind me how well off I am in my retirement. I receive a part government pension and income from my retirement fund. The retirement fund contains money from a long ago investment in a small home unit. On average I am able to save roughly A$500 per month.

We live comfortably but modestly and on the whole other government programs such as universal health care and the pharmaceutical benefits scheme, keep our expenses down. The money I am saving is used for any out of pocket expenses for operations such as joint replacements and unexpected expenses greater than say $1,000.

My disabled grand daughter, living on a disability pension with some extra money from baby sitting work is perpetually living from fortnight to fortnight. She needs help from  the Bank of Mum and Grandma fairly often to be able to take her cat to the vet or to fill her car with petrol. IMO families must stick together and support each other when anyone is doing it tough. Those that do have the strength to pass through economic hard times and the disruptions of war. It is families that are the building blocks of any society and governments that recognise this, and support families with helpful programs are wise to do so.


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## Olivia

Yeah, I do.


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## nvtribefan

Falcon said:


> $500 ?    That's chump change.



To you.  Not to millions of people.


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## nvtribefan

mathjak107 said:


> truthfully , who cares what others have or don't have .
> 
> if more people worried about what they have and not what others have or don't have they would be better off .



Fortunately, many people do care about others who don't have what they need.


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## hollydolly

I absolutely agree Warrigal... we aren't rich but we are  comfortable too..and fortunate that my o/h is still working , since I retired a few months ago...and he has a long time to go yet before retirement if he takes it at all.. .. like you , we  don't splash out on unnecessary expensive materialistic things or take hugely expensive holidays , but we do enjoy what we have now..after living hand to mouth for so many years it's something I feel fortunate enough to have been able to have in my senior years and also here in the Uk we're lucky not to have the medical expenses so many others in the USA have as well.  ...I worked very hard to get to this position, but like your grand-daughter there are so many people who are in a position where it's just impossible to get where they are on an easier street


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## RadishRose

Amazingly, there are a lot of people who really think they're going to win the Lottery. 

I did read this somewhere, but can't recall where.


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## hollydolly

I never spend money on the lottery RR... despite the fact that ''someone'' has to win it , the chances of it being me are so slim, I would rather just keep the money in my pocket. A £2 ticket is over £100 per year... ... if ever I found myself in a poverty stricken position again..I;ll be glad of that few hundred quid..


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## Buckeye

Here's some data for you:

Total household + nonprofit net worth for Q4 of 2016 was $93,000,000,000,000 (93 trillion). This works out to about almost $300,000 per person.  But of course that wealth is concentrated in the upper tiers.  The top 5% of families have over 60% of the net worth. (>$3.5 million per person!)   Many in the bottom 20% have negative net worth. 

https://en.wikipedia.org/wiki/Wealth_in_the_United_States


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## Falcon

Of course !    DUH      nvtribefan


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## hollydolly

LOL...you did reply to this earlier Falcon.. does that mean you have twice as much...


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## Falcon

NO  Holly.  I was replying to another poster.


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## hollydolly

oooh I see, I didn't see that before..


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## Mizzkitt

I have over $500 put away, with the old car I drive it's an absolute necessity to have something tucked away.


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## mathjak107

nvtribefan said:


> Fortunately, many people do care about others who don't have what they need.


there is a big difference between care and concern . 

if you are going to have concern at least have concern over actual facts .

no one really knows what anyone else  has . there is nothing in place to know this in the united states . it is all guess work and skewing statistics .

but in any case being overly "concerned" about things you have no control over is a waste of energy . you wan't to give to causes that help great , but there is nothing else you can do except volunteer your time somewhere and that would not be something you do based on skewed  statistics


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## mathjak107

Hoot N Annie said:


> Here's some data for you:
> 
> Total household + nonprofit net worth for Q4 of 2016 was $93,000,000,000,000 (93 trillion). This works out to about almost $300,000 per person.  But of course that wealth is concentrated in the upper tiers.  The top 5% of families have over 60% of the net worth. (>$3.5 million per person!)   Many in the bottom 20% have negative net worth.
> 
> https://en.wikipedia.org/wiki/Wealth_in_the_United_States




this is meaningless  and very poor logic for anything .. when it comes to worth age is a big factor and treating all ages the same and dividing is nonsense .

it is like when they do the old 401k balances and skew it to show few have anything saved .  they dilute those who have been  savings for decades with new comers , those who have a 401k plan and contribute little , etc . so once you do that it knocks those who contribute way down so it looks like little is saved .

when fidelity looks at those over age 55 and contributing for at least 10 years from 1/2 to max the story is very different and is hundreds of thousands .

skewing statistics is so easy  and we can show anything .

there was a ad on tv for impaired driving . they said 40% of all accidents involve drugs or drinking . i said to my wife , see , it is safer to drive stoned . 60% of the accidents are straight people . only 40% are stoned .


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## Buckeye

mathjak107 said:


> this is meaningless  and very poor logic for anything .. when it comes to worth age is a big factor and treating all ages the same and dividing is nonsense .
> 
> it is like when they do the old 401k balances and skew it to show few have anything saved .  they dilute those who have been  savings for decades with new comers , those who have a 401k plan and contribute little , etc . so once you do that it knocks those who contribute way down so it looks like little is saved .
> 
> when fidelity looks at those over age 55 and contributing for at least 10 years from 1/2 to max the story is very different and is hundreds of thousands .
> 
> skewing statistics is so easy  and we can show anything .
> 
> there was a ad on tv for impaired driving . they said 40% of all accidents involve drugs or drinking . i said to my wife , see , it is safer to drive stoned . 60% of the accidents are straight people . only 40% are stoned .



Have a nice day


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## moviequeen1

I have more than $500 in my emergency saving acct at my local bank Sue


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## Ken N Tx

moviequeen1 said:


> I have more than $500 in my emergency saving acct at my local bank Sue


...
.
We have a daughter who lives paycheck to paycheck..

Once she called me for rent money, I told her no..About an hour later my wife was cleaning up the spare room, I called her back and asked if she wanted cash or check!!


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## hollydolly

LOL..Ken...  I don't know if you were joking..... but  if not I hope your daughters' finances improve


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## Gary O'

Ken N Tx said:


> View attachment 47516...
> .
> We have a daughter who lives paycheck to paycheck..
> 
> Once she called me for rent money, I told her no..About an hour later my wife was cleaning up the spare room, I called her back and asked if she wanted cash or check!!



Now THAT!...is funny
(I have one too)


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## CindyLouWho

...your daughters heartstrings reeling you in.... nothing wrong with a little help from dad


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## Capt Lightning

I don't think my parents had much money, and that has given me with the determination never to be in the position.  I admit that sometimes I'm rather reluctant to spend on little 'treats', but my wife points out that we worked hard for what we have and we should be enjoying it.   She's not often wrong, but she's right again


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## twinkles

496-497-498-499-500.00 yup i got it hollydolly


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## Ken N Tx

hollydolly said:


> LOL..Ken...  I don't know if you were joking..... but  if not I hope your daughters' finances improve


Joking a little bit, but it did come close one time with her first deadbeat husband..She has since turned herself around..


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## hollydolly

Oooh that's good news ken...


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## 911

OK here in my home, but I have come in contact with many who aren’t. I call them the poor and under privileged. It sometimes broke my heart when I would be called to a convenience store and receive a complaint that the owner or employee witnessed a child or adult stealing food, not candy or potato chips, but maybe Spam or frozen meals. 

I would do my best to talk the complainant out of making a report and was usually successful. It must be a terrrible thing to be so hungry that a good, decent person will try to steal, so they could eat.


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## hollydolly

Oooh you're so right 911. I witnessed it on more occasions than I could count, in my job.... and how kind you were to understand that a human being has the right to eat.. and an otherwise decent law abiding person doesn't need a criminal record because they had a desperate need to satisfy the most basic of human requirements.. thank you...


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## OneEyedDiva

I feel your empathy for those less fortunate Holly. I lived it for awhile myself. But when I was about 25 I decided I'd have to do something to change that. I referred to myself as "Poor Girl" when I was in my 20's. I too wound up raising my son mostly by myself on a low salary. I started with small amounts saved each paycheck (bi-monthly) and have been a saver (and eventually investor) ever since. As the years went on, my finances changed for the better. I have more than enough left over after expenses each month out of my two main sources of income..pension and SS. So yes, I have more than $500 in an emergency fund. 

I've read so many articles about how Americans don't even have $1,000 saved up as they approach retirement. Some are living paycheck to paycheck, others are spendthrifts and don't think about saving until a crisis happens. I know people in both categories. The ones who could have done better but didn't really regret it.


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## hollydolly

OneEyedDiva said:


> I feel your empathy for those less fortunate Holly. I lived it for awhile myself. But when I was about 25 I decided I'd have to do something to change that. I referred to myself as "Poor Girl" when I was in my 20's. I too wound up raising my son mostly by myself on a low salary. I started with small amounts saved each paycheck (bi-monthly) and have been a saver (and eventually investor) ever since. As the years went on, my finances changed for the better. I have more than enough left over after expenses each month out of my two main sources of income..pension and SS. So yes, I have more than $500 in an emergency fund.
> 
> I've read so many articles about how Americans don't even have $1,000 saved up as they approach retirement. Some are living paycheck to paycheck, others are spendthrifts and don't think about saving until a crisis happens. I know people in both categories. The ones who could have done better but didn't really regret it.



Thank you OED.... that's precisely the question I was asking after reading the report. I'm sure it's the same in the UK...and it's a huge concern for all of  us I think  in various ways...


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## OneEyedDiva

hollydolly said:


> Thank you OED.... that's precisely the question I was asking after reading the report. I'm sure it's the same in the UK...and it's a huge concern for all of  us I think  in various ways...



You're welcome Holly. Here in the U.S., the Baby Boomer generation takes up a huge percent of the population. If most of us do not have enough finances, there will be a large strain on the social programs required to help those large numbers of people.
Since there are cutbacks for social programs in play now with some areas having really high rents, don't know how many of those who have low incomes and no savings will actually get the help they need. Will those masses be able to make it?  It could get real ugly here. 

I agree with the author of the article that there usually is some "wiggle room" in even the poorest person's budget that they can glean a savings from. Only problem is now banks want people to keep X amount of dollars in an account to avoid fees....sometimes that amount is a lot for people who already don't have much saved.


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## AZ Jim

Yes.


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## treeguy64

OneEyedDiva said:


> I feel your empathy for those less fortunate Holly. I lived it for awhile myself. But when I was about 25 I decided I'd have to do something to change that. I referred to myself as "Poor Girl" when I was in my 20's. I too wound up raising my son mostly by myself on a low salary. I started with small amounts saved each paycheck (bi-monthly) and have been a saver (and eventually investor) ever since. As the years went on, my finances changed for the better. I have more than enough left over after expenses each month out of my two main sources of income..pension and SS. So yes, I have more than $500 in an emergency fund.
> 
> I've read so many articles about how Americans don't even have $1,000 saved up as they approach retirement. Some are living paycheck to paycheck, others are spendthrifts and don't think about saving until a crisis happens. I know people in both categories. The ones who could have done better but didn't really regret it.



Not to be rude, but:  Does your one eye require you to use a font that is so small that most of us have to enlarge it to read it?


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## retiredtraveler

applecruncher said:


> That 20% is lower that the 64% of Brits receiving welfare....



You guys are mixing up terminology._ There are 'benefits', and there is formal 'welfare'_. 20% of Americans are on a program that we call 'welfare', but half the population of the U.S. is on some kind of government benefit. That 64% UK figure is also about benefits, not a 'hard core' welfare program. Benefits include food stamps, WIC program, subsidized housing, school lunches, food bank, Medicare, SSI, and others. UK programs are a bit different, but have some of those same kind of benefits.

  As far as the OP. yes, it's a 'shame', but a large percentage of the population lives paycheck to paycheck and doesn't have ready cash to pay for a car repair.  And no, I have never been in that position and don't understand it at a 'gut level'.


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## applecruncher

retiredtraveler said:


> You guys are mixing up terminology._ There are 'benefits', and there is formal 'welfare'_. 20% of Americans are on a program that we call 'welfare', but half the population of the U.S. is on some kind of government benefit. That 64% UK figure is also about benefits, not a 'hard core' welfare program. Benefits include food stamps, WIC program, subsidized housing, school lunches, food bank, Medicare, SSI, and others. UK programs are a bit different, but have some of those same kind of benefits.
> 
> As far as the OP. yes, it's a 'shame', but a large percentage of the population lives paycheck to paycheck and doesn't have ready cash to pay for a car repair.  And no, I have never been in that position and don't understand it at a 'gut level'.



Public assistance is just that, not necessarily welfare checks.  And I think you mean Medicaid, not Medicare (two very different things).


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## retiredtraveler

applecruncher said:


> Public assistance is just that, not necessarily welfare checks.  And I think you mean Medicaid, not Medicare (two very different things).



Correct on Medicare --- I did mean Medicaid.


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## hollydolly

retiredtraveler said:


> You guys are mixing up terminology._ There are 'benefits', and there is formal 'welfare'_. 20% of Americans are on a program that we call 'welfare', but half the population of the U.S. is on some kind of government benefit. *That 64% UK figure is also about benefits, not a 'hard core' welfare program. *Benefits include food stamps, WIC program, subsidized housing, school lunches, food bank, Medicare, SSI, and others. UK programs are a bit different, but have some of those same kind of benefits.
> 
> As far as the OP. yes, it's a 'shame', but a large percentage of the population lives paycheck to paycheck and doesn't have ready cash to pay for a car repair.  And no, I have never been in that position and don't understand it at a 'gut level'.



Bold....absolutely correct, thank you...


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## Knight

Yes, but don't rat me out to the IRS.


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## hollydolly

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...


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## Getyoung

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.


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## hearlady

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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## Knight

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...



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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## Robusta

hearlady said:


> Yes, I think everyone needs an emergency fund of AT LEAST $500. I don't think that's unreasonable for most people.



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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## C'est Moi

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*!



Don't know that I was "chosen," or if my own choices and abilities and hard work made it happen.


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## Ken N Tx

I believe in taking care of family first..


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## retiredtraveler

> 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!



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.............


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## IKE

I'm pretty darn close to having that much but I'm still a little short.....anyone here wanna loan me $499.95 ?


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## Falcon

I feel  sorry for anybody  who can't scrape together  $500  for something they really need  RIGHT NOW.


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## dpwspringer

Falcon said:


> I feel  sorry for anybody  who can't scrape together  $500  for something they really need  RIGHT NOW.



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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## hollydolly

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!



Thank you Robusta...excellent post..


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## hollydolly

Falcon said:


> I feel  sorry for anybody  who can't scrape together  $500  for something they really need  RIGHT NOW.




...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 ..


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## hollydolly

C'est Moi said:


> Don't know that I was "chosen," *or if my own choices and abilities and hard work made it happen*.



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 ...


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## Buckeye

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


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## Gary O'

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!



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


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## Knight

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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## Don M.

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?



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.


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## hollydolly

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



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..


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## nvtribefan

C'est Moi said:


> Don't know that I was "chosen," or if my own choices and abilities and hard work made it happen.



And a fair dose of luck.


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## Aunt Bea




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## C'est Moi

Aunt Bea said:


>





Bingo.


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## KingsX

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).




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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## mathjak107

C'est Moi said:


> Bingo.


i always rather be lucky than smart


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## OneEyedDiva

Ken N Tx said:


> View attachment 47516...
> .
> We have a daughter who lives paycheck to paycheck..
> 
> Once she called me for rent money, I told her no..About an hour later my wife was cleaning up the spare room, I called her back and asked if she wanted cash or check!!



LOL Ken!


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## C'est Moi

mathjak107 said:


> i always rather be lucky than smart



Obviously.


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## debodun

Oh, a lot more than $500! And the more I get, the less likely I want to spend.


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## hollydolly

debodun said:


> Oh, a lot more than $500! And the more I get, the less likely I want to spend.




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..


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## Aunt Bea

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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## C'est Moi

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.



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:


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## applecruncher

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.*



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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## ProsperosDaughter

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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## Aunt Bea

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.*



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.


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## hollydolly

C'est Moi said:


> 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:



absolutely agree... it  doesn't work for everyone but it works for us..


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## hollydolly

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.



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


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## debodun

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.


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## KingsX

.

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.


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## oldman

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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## ancient mariner

Our emergency fund is there in case a hurricane takes the roof off the house.


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## KingsX

ancient mariner said:


> Our emergency fund is there in case a hurricane takes the roof off the house.




I recently had my roof replaced.  

Even with homeowners insurance paying the lion's share... my part [deductible]  was much more than $500.

.


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