Question for a debate me an my friend are having

Discuss about anything here that doesn't fit in the other categories. Just don't spam.
Post Reply
Posts: 16
Joined: Jan 21st, '09, 02:21
Location: New York

Question for a debate me an my friend are having

Post by BrazinBox » Jan 11th, '12, 22:22

Ok, so my friend has a strange concept of being broke and seems to think that having $5ooo in a savings account but only $10 in a checking is being broke.

I'm curious to see how many people agree to this concept.


Edit: This is a standard setup. A regular checking account and a savings account for the future, not saving for a house or car.
Last edited by BrazinBox on Jan 11th, '12, 22:37, edited 1 time in total.

User avatar
Posts: 255
Joined: Jan 10th, '09, 14:07

Post by emma-ba » Jan 11th, '12, 22:30

Could be if your friend doesn't have instant access to the money in the savings account or if he can't spend it because it's set aside for something else.

Posts: 16
Joined: Jul 24th, '06, 01:49
Location: Portland, Oregon

Post by VietBaka » Jan 11th, '12, 22:55

Could be a rainy day fund? Emergency fund?

Posts: 211
Joined: Mar 9th, '08, 00:57
Location: Virginia

Post by Lucille » Jan 11th, '12, 23:20

I agree completely with your friend. He/She is broke. I know people hate hearing this, but you are suppose to have at least 4-6 months living expenses saved at all times. You lose your job tomorrow what are you going to do? Emergency Funds do not exist for everyday things. I consider it zero dollars. Now if your friend has an additional 5000 on top of that well good for him. Tell him to tell me his secret.

User avatar
Posts: 137
Joined: Dec 19th, '11, 00:55
Location: Puget Sound

Post by moadeep » Jan 12th, '12, 00:53

your friend is wise, they aren't touching their buffer/emergency $, so yeah, they are broke.

User avatar
Posts: 745
Joined: Oct 27th, '04, 20:47
Has thanked: 1 time
Been thanked: 3 times

Post by Gir » Jan 12th, '12, 01:21

Depends, if this came up because he is being frugal and not unwisely spending money he's broke.
If it's because he's mooching off of others for stuff (especially non-necessities while employed) he's not.
If you can remain calm while all around you others are panicking... Then you obviously have not adequately assessed the situation.

Posts: 5
Joined: May 26th, '11, 19:29

Post by nasomi » Jan 15th, '12, 18:43

There's a big difference between being broke and being poor. I'm usually broke because I have a great deal of expenses, I have pre-determined money set aside for savings, so I don't have a lot of money to spend right now. I think you're thinking poor, while he's thinking broke. They're two different things.

Post Reply

Who is online

Users browsing this forum: No registered users and 2 guests