Wouldn’t have much of a problem. Currently there’s about $1000/month in disposable income; most of it goes to paying off a car and student loans. Minimum loan payments are $700/month and they’re all paid ahead so I can skip payments for a few months if necessary. There is usually a few hundred dollars’ worth of buffer in savings and checking accounts. If for some reason that doesn’t work out, there’s plenty of room on the credit card. And, I can always hit up relatives for that sort of money in a true emergency.
I’m moving in a few months and once all of those expenses are taken care of, the next order of business is to put a few thousand towards an emergency fund.
I’ve always been good with money, and had saved that much money back when I graduated from high school in 1980. We all have our own talents and weaknesses, but saving money is something which I did even as a child.
My wife and I are looking at starting a business next year, with an investment of $60k and I’ve got that in cash (well, not actual cash, but on hand).
Of my 4 brothers and sisters, the oldest probably could get the cash. He works as a fire marshal. The second is sitting much better now they have paid off their house, so they are doing well.
The third is living with her partner on my sister’s SSD (disability) in an apartment owned by my mother and would have a very difficult time. Except that her partner’s mother died a few years ago, so she inherited some money. They may still have that much, probably for this first time in their lives together.
My younger brother. No fucking way. He wouldn’t be able to get $30. Homeless by choice, and refuses to either work or get the help he needs to be stabilized. He’s also manipulated my mother into giving him lots of money over the years, and so he’s finally cut off of that.
Yeah, same here. I could probably hit 20k just by swiping all the cards I regularly carry around. I’d need computer access and five minutes for 200k, and probably a few days for anything significant beyond that (I imagine it takes a while to tap into a 401(k), and it takes forever to sell a house).
I voted yes, but realizing that I’m in the minority on that. Not one of my siblings could come up with even half that much, and very few of my friends.
I easily have that much in my checking account. I could come up with about $100K by liquidating my retirement accounts. My house has about $75K equity.
About 8 years ago, when I bought my current house at auction, I had to come up with $6K by check cashable in 2 days. I didn’t have that amount in my checking, and needed to get a loan from my 401K. Since that would take about a week, and my mother was out of town, I went to an aunt & uncle and said “I bought this house and need to borrow $6K.” His response was, “Are you sure you don’t need $10K?” and wrote me a check. Of course, I paid him back the next week.
$2,000 would not qualify as an “emergency” for me.
Here’s another question - what’s the most you could come up with, without dipping into credit, liquidating retirement savings, selling your principal residence, or begging friends and relations?
For me - I have about $16,000 in a tax-free savings account (non-retirement - earmarked for a new car, eventually), about $18,000 in another savings account (earmarked for transfer into retirement investments), and about $26,000 in GICs (my true “emergency stash”). So I could come up with $60,000 without using those other resources.
Malthus, to answer your question - I could only come up with a few hundred on short notice. I hope to some day be at the point you are at - but I’ve given in to the gypsy lifestyle too much.
Depends on the emergency. Ransom demand from a pragmatic kidnapper? I could get it even if the ransom were for my dog.
Money to prevent me being evicted? Just about.
Money to buy new furniture after every bloody thing in my kitchen breaks at once in the same week as both of our beds break and I’ve just had to pay my taxes? From experience, no.
Same here, though I might take two billing cycles…even though I could afford to lose $2k from my checking account at once, I’d prefer to not and pay a little more overall.
In fact, I had to do just thing last month (actually, it was closer to $3000 (new engine in my car.)) I paid off half of it the first billing cycle, and once my next paycheck deposits on the 1st, I’ll pay off the rest.
I would take it out of the bank if I could get there and they were open, if not I’d have to raid my emergency “under the mattress” stash. I guess I could actually get the money in 30 seconds if I was at home.
I don’t have that money available at the moment, but in 30 days I could get it by:
[ul]
[li]Saving. Well, maybe not. My income fluctuates pretty wildly; I have a nice chunk of change (for me, anyway) coming in at the end of June, but that is not quite within the 30 days, so I’m SOL, if we start counting today.[/li][li]Family. If it truly was an emergency I have a few family members who could help me, completely or in part.[/li][li]Friends. I also have a few friends who I’d feel comfortable going to in a true emergency, and who I know could help with an emergency as small as $2,000.[/li][li]Selling assets. I have a fair number of musical instruments that I use more for fun than for income that I could likely sell within 30 days to come up with $2,000.[/li][/ul]
Double that amount, though, and it starts to get more problematic, in that 30 day time frame. $2,000 I’m confident I could come up with on my own, 4 or 5 thousand and I’m getting to where I need to ask for help.
