Discuss about anything here that doesn't fit in the other categories. Just don't spam.
-
BrazinBox
- Posts: 16
- Joined: Jan 21st, '09, 02:21
- Location: New York
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.
-
emma-ba
- Posts: 255
- Joined: Jan 10th, '09, 14:07
-
Contact:
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.
-
VietBaka
- 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?
-
Lucille
- Posts: 212
- 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.
-
moadeep
- 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.
-
Gir
- Posts: 700
- Joined: Oct 27th, '04, 20:47
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.
-
nasomi
- 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.
Who is online
Users browsing this forum: No registered users and 1 guest