# Can you pay for a $1000 emergency expense without borrowing? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [August 26, 2011, 2:22pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181 "2011-08-26T14:22:17Z")\ **Posts on this page:** 20\ **Page:** 6
**Author:** ![wolfman](https://avatars.discourse-cdn.com/v4/letter/w/a8b319/32.png) [@wolfman](https://boards.straightdope.com/u/wolfman)\ **Post date:** [September 3, 2011, 10:30pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/101 "2011-09-03T22:30:19Z")
> [@](#): > > but what kind of emergency would legitimately require more than a thousand dollars that couldn’t wait for a few days? If your car breaks down in East Assboink Indiana, and the dude won’t fix it till he has cash in hand, and a couple days will cost you your job perhaps? - I forgot I decided to use that from now on. ---
**Author:** ![TruCelt](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/trucelt/32/523_2.png) [@TruCelt](https://boards.straightdope.com/u/TruCelt)\ **Post date:** [September 3, 2011, 11:11pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/102 "2011-09-03T23:11:30Z")
Normally I could, but this year has been utter hell. I’d have to not pay somebody in order to cover it, and since that somebody would probably be a lawyer, I’d probably call Dad first. ---
**Author:** ![iamthewalrus\_3](https://avatars.discourse-cdn.com/v4/letter/i/258eb7/32.png) [@iamthewalrus\_3](https://boards.straightdope.com/u/iamthewalrus_3)\ **Post date:** [September 4, 2011, 10:05pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/103 "2011-09-04T22:05:03Z")
> [@wolfman](#): > > If your car breaks down in East Assboink Indiana, and the dude won’t fix it till he has cash in hand, and a couple days will cost you your job perhaps? Doesn’t that only work if you carry the $1000 with you? If you have to go to the bank, what difference does it make if it’s drawn on a savings account or a credit line? ---
**Author:** ![BMalion](https://avatars.discourse-cdn.com/v4/letter/b/e274bd/32.png) [@BMalion](https://boards.straightdope.com/u/BMalion)\ **Post date:** [September 5, 2011, 12:55am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/104 "2011-09-05T00:55:05Z")
Toall thefolks who answed “yes”… Could I borrow $999.00? ---
**Author:** ![flatlined](https://avatars.discourse-cdn.com/v4/letter/f/eb9ed0/32.png) [@flatlined](https://boards.straightdope.com/u/flatlined)\ **Post date:** [September 5, 2011, 2:34am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/105 "2011-09-05T02:34:00Z")
> [@iamthewalrus\_3](#): > > Doesn’t that only work if you carry the $1000 with you? If you have to go to the bank, what difference does it make if it’s drawn on a savings account or a credit line? Agrees with you. If I break down in BFE, I own’t have that much cash in my hands. I will have plastic and a couple of friends close. A loan will happen and when we get home, they will be paid off. ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [September 5, 2011, 6:29am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/106 "2011-09-05T06:29:52Z")
I don’t have a big screen TV. I don’t have cable. I don’t have an internet enabled phone. I survived 3 1/2 years of unemployment. I’d love to say it was all planning and frugality but in reality I liquidated my bank account and had just started in on retirement funds when I got a job. My depression era parents prepared me for life in ways I couldn’t fully appreciate now. I suspect that a great many people learned a very hard lesson over the last 2 years. ---
**Author:** ![curlcoat](https://avatars.discourse-cdn.com/v4/letter/c/ea5d25/32.png) [@curlcoat](https://boards.straightdope.com/u/curlcoat)\ **Post date:** [September 7, 2011, 3:57am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/107 "2011-09-07T03:57:14Z")
> [@Shakester](#): > > Want to know my secret? If you can’t afford it, do without. > [@Living\_Well\_Is\_Best\_Revenge](#): > > I don’t think blaming advertising for why you are broke is very fair. And minimum wage isn’t really meant to be a living wage. It’s called “minimum” for a reason. > [@Implicit](#): > > Yes, a significant number of people live paycheck to paycheck. No one saves for anything, they buy something, and then figure out how to pay it off. Buy now, pay later. To them credit is the same as savings. > [@shijinn](#): > > i thought the conventional wisdom is to have at least 3-6 months pay as an emergency fund. > [@Jelly\_Roll](#): > > I don’t make a lot of money, but I don’t spend what I don’t have either. I was amazed to see these posts - we had sort of this same conversation in the Pit awhile ago and almost everyone thought it was crazy to have 6 months worth of bills in savings (or easily liquidated) and that there was “no way” any average person in the US could possibly do this. Mostly they sounded like this - > [@BigT](#): > > No, and I vehemently resent the idea that I and the majority of the people I know must be stupid because we’re not in the monetary class to which you subscribe. The thing is? It isn’t a “monetary class”, its a matter of not spending money you don’t have and not getting into any sort of ongoing cash drain without considering if you are going to be able to pay for it. Despite what the ads say, you do not “deserve it” unless you can actually afford it, and that includes everything beyond sustenence. > [@Magiver](#): > > I don’t have a big screen TV. I don’t have cable. I don’t have an internet enabled phone. > > I survived 3 1/2 years of unemployment. I’d love to say it was all planning and frugality but in reality I liquidated my bank account and had just started in on retirement funds when I got a job. My depression era parents prepared me for life in ways I couldn’t fully appreciate now. > > I suspect that a great many people learned a very hard lesson over the last 2 years. It doesn’t appear so - too many people seem to think it is someone elses fault that they didn’t/don’t have enough money to ride out unemployment. ---
**Author:** ![PunditLisa](https://avatars.discourse-cdn.com/v4/letter/p/4af34b/32.png) [@PunditLisa](https://boards.straightdope.com/u/PunditLisa)\ **Post date:** [September 7, 2011, 12:43pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/108 "2011-09-07T12:43:23Z")
> [@Magiver](#): > > I survived 3 1/2 years of unemployment. I’d love to say it was all planning and frugality but in reality I liquidated my bank account and had just started in on retirement funds when I got a job. My depression era parents prepared me for life in ways I couldn’t fully appreciate now. The worst thing about this economy is seeing all these talented, good people out of work. Congratulations on landing a job! ---
**Author:** ![Wesley\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/wesley_clark/32/20581_2.png) [@Wesley\_Clark](https://boards.straightdope.com/u/Wesley_Clark)\ **Post date:** [September 12, 2011, 1:42pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/109 "2011-09-12T13:42:04Z")
> [@wolfman](#): > > If your car breaks down in East Assboink Indiana, and the dude won’t fix it till he has cash in hand, and a couple days will cost you your job perhaps? > > - I forgot I decided to use that from now on. I live in east assbonk Indiana and find that metaphor offensive. But I’m willing to forgive you, you have a purty mouth. ---
**Author:** ![Wesley\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/wesley_clark/32/20581_2.png) [@Wesley\_Clark](https://boards.straightdope.com/u/Wesley_Clark)\ **Post date:** [September 12, 2011, 1:43pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/110 "2011-09-12T13:43:50Z")
> [@Magiver](#): > > I don’t have a big screen TV. I don’t have cable. I don’t have an internet enabled phone. > > I survived 3 1/2 years of unemployment. I’d love to say it was all planning and frugality but in reality I liquidated my bank account and had just started in on retirement funds when I got a job. My depression era parents prepared me for life in ways I couldn’t fully appreciate now. > > I suspect that a great many people learned a very hard lesson over the last 2 years. Congrats on getting a job, I didn’t hear about that. The fact that people are out of work for 3 years is a terrible sign though, and things generally aren’t getting better employment wise. This is just the new normal (lower wages, fewer jobs, longer bouts of unemployment). ---
**Author:** ![Dangerosa](https://avatars.discourse-cdn.com/v4/letter/d/22d042/32.png) [@Dangerosa](https://boards.straightdope.com/u/Dangerosa)\ **Post date:** [September 12, 2011, 2:15pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/111 "2011-09-12T14:15:14Z")
> [@Wesley\_Clark](#): > > Congrats on getting a job, I didn’t hear about that. The fact that people are out of work for 3 years is a terrible sign though, and things generally aren’t getting better employment wise. This is just the new normal (lower wages, fewer jobs, longer bouts of unemployment). Which is one of the reasons that folks with good “depression era instilled values” (even when those are passed generationally) will be in a better spot for this “new normal.” They may use up their six months of savings, and they may end up broke or bankrupt - but they will last longer than those whose idea of doing well financially is “I can pay the minimums on all my credit card bills!” And its basically a race - get a job before your savings (severance, unemployment) run out. The more savings you have, the longer you can last. Few people can last forever with no job (though my mother did, she got laid off six months before she could start collecting social security…so she collected unemployment for six months and then “retired early.” She just started working again half time though - she was bored - it isn’t a great job for someone trying to raise a family - $11 an hour being a “sample babe” at Costco - but for someone who has Medicare and gets a Social Security check, its a nice job). ---
**Author:** ![Biggirl](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/biggirl/32/3294_2.png) [@Biggirl](https://boards.straightdope.com/u/Biggirl)\ **Post date:** [September 12, 2011, 2:37pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/112 "2011-09-12T14:37:57Z")
I used to be able to, and did on multiple occasions, when I had a job. Now that I am among the unemployed-- not so much. ---
**Author:** ![Nava](https://avatars.discourse-cdn.com/v4/letter/n/da6949/32.png) [@Nava](https://boards.straightdope.com/u/Nava)\ **Post date:** [September 12, 2011, 2:45pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/113 "2011-09-12T14:45:43Z")
> [@Ronald\_C.Semone](#): > > Aren’t we leaving out an important factor here? One poster mentions being a graduate student, but I don’t think anyone else talks about age. I suspect not too many of the 15 and 16-year olds who post on the SDMB have a $1000 lying around. But then again, maybe they didn’t participate in the poll. American vs non, too. ---
**Author:** ![Hermitian](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hermitian/32/470_2.png) [@Hermitian](https://boards.straightdope.com/u/Hermitian)\ **Post date:** [May 22, 2018, 9:18pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/114 "2018-05-22T21:18:00Z")
I am going to bump my own thread for an [update](http://money.cnn.com/2018/05/22/pf/emergency-expenses-household-finances/index.html). Apparently 40% of Americans can’t cover a unexpected $400 expense. The really interesting part is that 74% of adults reported feeling at least “okay” financially. How these two statistics match up, I’m not quite sure… :dubious: ---
**Author:** ![begbert2](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/begbert2/32/3357_2.png) [@begbert2](https://boards.straightdope.com/u/begbert2)\ **Post date:** [May 22, 2018, 9:29pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/115 "2018-05-22T21:29:42Z")
I currently dump an extra grand a month into an account specifically reserved for emergencies or major pre-planned purchases, so definitely yes. However for the first thirty years of my life I didn’t do this, and would have been caught flatfooted by any such expense. ---
**Author:** ![cochrane](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cochrane/32/10441_2.png) [@cochrane](https://boards.straightdope.com/u/cochrane)\ **Post date:** [May 22, 2018, 9:32pm UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/116 "2018-05-22T21:32:27Z")
If I ever have a $1000 emergency expense, I’m boned. No, I couldn’t cover one without borrowing. I’m not even sure I’d be able to borrow that much. ---
**Author:** ![dorvann](https://avatars.discourse-cdn.com/v4/letter/d/df705f/32.png) [@dorvann](https://boards.straightdope.com/u/dorvann)\ **Post date:** [May 23, 2018, 12:50am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/117 "2018-05-23T00:50:33Z")
> [@Foggy](#): > > No, I could not. > > I have less than $2 in my checking account until next week. > I’m on disability, I receive $850 a month from the government, $77 less than April 2009. > (yes, I know, I’m a burden on society, I get that, thank you) > > My mother is in the same situation. I’m on disability too. I receive roughly $920 a month and live in subsidized housing. After paying my bills and groceries for the month, I usually have between $50 and $20 left at the end of month. So I definitely couldn’t afford $1000 emergency expense without borrowing it for somewhere. Hell, anytime I have an expense above $100 (like replacing my tv or computer OR getting my car fixed) I have to resort to asking my siblings for help. I’m not sure my siblings would have $1000 for me to borrow; they are basically working poor not wealthy. It’s very nerve racking have to live in poverty like this: where you _ **have** _ to watch every dollar and penny you spend to make sure your bank account isn’t overdrawn at the end of the month. The one time I lost track my bank charged me $60 in fees. Part of my issues is social anxiety so I really don’t have the skills to argue and ask for a waiver for my bank. So now I watch how much I spend like a hawk. ---
**Author:** ![Arrendajo](https://avatars.discourse-cdn.com/v4/letter/a/e0b2c6/32.png) [@Arrendajo](https://boards.straightdope.com/u/Arrendajo)\ **Post date:** [May 23, 2018, 2:45am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/118 "2018-05-23T02:45:20Z")
Yes, I could. I wouldn’t be happy about it, though. ---
**Author:** ![kopek](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kopek/32/337_2.png) [@kopek](https://boards.straightdope.com/u/kopek)\ **Post date:** [May 23, 2018, 2:53am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/119 "2018-05-23T02:53:29Z")
At the time of the thread starting I could have without too much effort. But that was before the ACA really kicked in and life in general happened. Right this moment I could if you gave me a day to sell off a few things. ---
**Author:** ![Jennshark](https://avatars.discourse-cdn.com/v4/letter/j/8e8cbc/32.png) [@Jennshark](https://boards.straightdope.com/u/Jennshark)\ **Post date:** [May 29, 2018, 11:19am UTC](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181/120 "2018-05-29T11:19:15Z")
For 95% of my life I’ve been poor or just getting by. The last five years have been financially very good to me but it has come at the cost of $100k in student loans (I will literally die before they are paid off). I despise articles/pundits/random buttholes who gasp aloud and clutch pearls at the thought many Americans don’t have $1,000 readily at hand and live paycheck to paycheck. This was my reality for decades and I have worked full-time, at pretty good jobs, since I was 18 AND I don’t have kids to support. There were many times unexpected car repairs, vet bills, [Previous page](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181.md?page=5) [Next page](https://boards.straightdope.com/t/can-you-pay-for-a-1000-emergency-expense-without-borrowing/594181.md?page=7)