Only 48 percent said that they could easily handle an emergency expense of $400 without running a balance on their credit card.I know that hyperinflation is a serious possibility in the current world, but come on people. If you don't have ANY reserve funds it wont take a big nation shattering event to break you just a broken water-pump in your only car.
I know I'm a financial nerd but I think I'm going to start a series on Wednesdays about ways to be Scotch Natured, of course none of the this will do the tards who go out and blow their money faster than they can make it even in the "good times" any good. However maybe just maybe someone who is at a personal tipping point and who can be reached might enter just the right internet search and stumble across it.
Because if this is the case we'd better hope PP's assurances about the non-viability of face colanders(TM Tam) is right.
Ya. It's hard to get into saving much cash when the value almost drops faster than you can save it.
ReplyDeleteAlso it's not that I don't believe there will be looting hordes I just think they are not going to be as much a threat to those far enough away. If you live too close to any city you will get some but how many are armed and dangerous is the real question.
Sorry I meant long term viability.
DeleteI also don't mean much cash, but having to go into debt to fix a radiator isn't a good idea either.
I agree debt in any form is baaaad.
DeleteLooking forward to it. I can use the advice!
ReplyDeleteI'll be starting at the level just slightly above, "Don't just walk past that penny on the ground."
DeleteI might work up to something more advanced but this article has me to the point of realizing just how many financially totally ignorant people are out there.