can you come up with $400 in an emergency
Most Popular Reply
it's not that wild when you think about regular people with low paying jobs and kids.
$15/hr 40 hours a week =$600 (if u get40hrs.
After taxes 600 is more like $500.
So you got $2000/ month.
rent: $600-700
car payment $200-300
gas$$$100 (low)
car insurance$100-200
cell phone$100
utilities: gas/electric/water$200
more than half of your monthly income is already eaten up before grocery and other incidentals.
add in a child or 2 or 3 that you have to feed and clothe, send to daycare or buy pampers etc and suddenly it's not so hard to see why people are broke.
that's why check advance tote places exist. allot of people are out here living check to check literally and any little hiccup can throw everything off track.
152 Replies
- Fort Lauderdale, FL · Member since 2017 · 17 posts · 10 votes8y
@Scott Skinger You know what's funny? You're not the first person to tell me about Mr. Money Mustache (MMM) lol I loved his Bitcoin post (probably because I was rather bummed about not investing when I had the channce).
@Alan Pederson Might have to pick that one up soon! I am on a 10 books in a year "resolution" if you want to call it that lol
@Terry Miller If taking something that doesn't belong to you isn't theft then what is theft. If you have no rights to your property then you're a slave. If you have to pay the government their rent every year or they will take you're land away then you don't own the land. If you're a farmer who has to give a portion of his crops then you're just a sharecropper. Your idea of society is really just slavery without the whips. Paving a dirt road that I didn't want is in fact immoral. A contractor can't come to my house and force me to replace my driveway or he will kill me, we would call that extortion.
@Deanna O. I never called the 911. The funny thing is the police stole from me "through taxes"
- Akron, OH · Member since 2015 · 178 posts · 189 votes8y
Originally posted by @Laith Ali:
@Terry Miller If taking something that doesn't belong to you isn't theft then what is theft. If you have no rights to your property then you're a slave. If you have to pay the government their rent every year or they will take you're land away then you don't own the land. If you're a farmer who has to give a portion of his crops then you're just a sharecropper. Your idea of society is really just slavery without the whips. Paving a dirt road that I didn't want is in fact immoral. A contractor can't come to my house and force me to replace my driveway or he will kill me, we would call that extortion.
@Deanna O. I never called the 911. The funny thing is the police stole from me "through taxes"
I wasn't going to respond any more to this pseudo-anarchy, coffee shop philosopher stuff, but after reading your answer, I simply have to make a basic statement, and then, it is truly done:
You continually state that the taxes don't belong to the government, but I say, and YOUR ACTIONS say that they do. Infrastructure doesn't spontaneously appear. You are using some of that infrastructure to reply on the Internet. This Internet is the result of a GOVERNMENT PROJECT. Just one example of dozens upon dozens of things you use that come from levies, taxes, etc. You live in this (USA) society, however grudgingly, and reap the benefits. As you point out, there are also drawbacks and obligations. But THAT IS WHAT YOU SIGNED UP FOR IMPLICITLY OR EXPLICITLY when you choose to live with others in a society. That is how it's been from the beginning. Only a person completely off the grid without any contact with others can say what you are trying to say. My idea of society? *smile*
EVERY GOVERNMENT on planet Earth gets something from their people to operate.
- Akron, OH · Member since 2015 · 178 posts · 189 votes8y
[P.S. ---funny]
How was the money printed that you don't want to use to pay your taxes? With tax money.
- @Laith Ali so by your definition, a landlord is, in fact, a slave owner? Everyone should live rent free because it's extortion to make someone pay for where they live. Banks make you pay interest, is that extortion? Insurance companies make you pay premiums, is that extortion? Groceries make you pay for food, is that extortion? Why is paying taxes theft, but paying for all of these other necessities not theft?
There are many places in this lovely earth where the tax man will never come knocking on your door. They tend not to have running water, electricity, schools, paved roads. You may not be able to make a living, & criminal gangs tend fill in where police aren't, but if tax-free is the only criteria no one is stopping any of the "taxation is wrong" crowd from moving.
- Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes8y
Originally posted by @Jay Hinrichs:
Originally posted by @Laith Ali:
Obviously $400 is nothing. I just think its really shocking that a large number of people have so little in savings. Obviously its their fault for being so stupid, and it shows a lack of a long term planning for their future. I think its wrong to suggest that schooling will help them, I'm sure it will help a bit, but there is a saying that you can't help someone who doesn't want to help them-self. Some people are just stupid. I went to a not so great school and there were kids who were really dummies. Now that I think about it, I really think they should really classify it as a mental disorder. The teacher would give them C because they "tried" well in the real world there is no extra points for trying.
@Christopher B. I definitely want to travel the problem is I only get two weeks of vacation at work.
@Nicole A. I never heard of a fee, but I didn't pay anything. I hope the insurance companies didn't write a law that you have to insurance or they will tax you.
@Terry Miller Brent is right Taxation is theft. My fair share is 0.
A lot of times in schools that are not so great the dummies as you call them are kids with learning disabilities like Dyslexia .. Teachers don't know what to look for and there are no special class's for them and they get labeled and carried through the system.. I know I had a child like this.. Thankfully we were in the Palo Alto School system this was diagnosed by the Teachers they had special class's and teachers to handle it and now he is fine at 35 Y Old.. although never going to be a speed reader.. but my brother had the same thing in the 60's and early 70s and he had a terrible time in school.. you got shuttle into the special class they never learned how to read and many end up in trouble in society or get labeled like you are labeling them. like many Dyslexic kids they are very bright in certain areas.. My son is a master carpenter can build about any thing just from looking at a picture.. my Brother drives heavy equipment and can build roads to grade by eye ball.. Education is important and money well spent I for one commend parents who make that a fiscal priority.
Schools have changed A LOT since yours was in school. My GF currently works in a low income school out in the country and previously worked in special ed in an inner city school, as well as an elementary school in a high income area in town in the city. Each school has teachers and counselors trained for special ed and numerous programs to provide support for those that need it. In addition to having her doctorate she has her special ed certification and has worked in these programs herself in various capacities. So the modern school system is better at suppprting those students. I understand what you are saying though because my mother had learning disabilities, she struggled through school and simply was considered "dumb" she says. Things have changed since then though, which is fortunate to the children who need the help.
In the late 80s, I had an employee that complained that I wasn't paying him enough and I need to give him a raise. I asked him how many packs of cigarettes he smoked a day and how much they were a pack. We calculated that he worked the first 5 weeks of the year just to pay for smokes. He didn't give up smoking and I didn't give him a raise either.
@Jay Hinrichs that's the same mentality as the Starbucks crowd.
Pawn shop owners will tell you that many of their customers make good money, drive nice cars but pawn their Rolex watches to get through the month.
Without the middle-class Payday loans and title pawn businesses wouldn't exist.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Bob B. not to mention when I owned real estate brokerages agents needing advances on commisisons.. and or needing to borrow money from me to pay their tax's because for the first time in the life they had to pay quarterly and had never had a job were tax's were not taken out.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Account Closed same with title loans ????
- Investor · Princeton, TX · Member since 2014 · 1k+ posts · 1k+ votes8y
@Jay Hinrichs They are a little more regulated, so I do not think any of them charge 385% interest. They might is some states.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Account Closed a few years ago Oregon passed a law limiting title loans and payday loans to 36% apr.. and boy you should have heard them beotch.. LOL..
- Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes8y
Originally posted by @Steve Vaughan:
You will see some of the nicest cars around in apt bldg parking lots and trailer parks. That just blows me away.
I've been broke and grew up broke, but not poor. Poor to me is a lifestyle and mindset. 'I am poor. That's the way it has always been and is the way it's going to be'. Broke is a temporary condition to be improved upon. 'My finances are short right now, but I have an action plan to earn more and save more and keep my priorities right.'
I know a lot of people 'at the bottom' trying to sober up from substance abuse that have lost everything. I try to help them with a hand up if they ask and are ready. I'm almost 8 years sober myself.
I also work with some HUD tenants that no way could come up with $400. If they hint at wanting to improve, I try to help offer them connections or a job if they're worthy. Most just complain as they select one of their 200 channels or face in $800 phone as they drive away in a nicer car than I have.
Nothing wrong with being broke as long as you still have hope and are willing to prioritize and improve. Yes it is very sad that in a country like ours with more opportunities than ever that $400 can tie so many people up.
I hesitate to post up this nugget, but anyway: one time about 12-13 years ago at my job we went out to a trailer park where someone was having utility trouble. This was a rough - really rough - park, the kind that collects rent on a weekly basis and has trailers rotting into the ground. Not the kind of place you would live, given any other option outside under the bridge. When we went inside, the guy had something like a 72" flat screen, big screen TV. Nicest TV I've ever seen personally, wasn't even sure how he got it in the door. If you think about how long ago this was, I guarantee that TV cost $5-10k. Everyone's got their own priorities.
Anyway, I hesitated to post it up because I don't want to be one of the "pile on" guys for people who have different priorities than me. Personally, I am thankful that some people spend their money in ways that I consider it pissing it away, because if everyone did what I did, I wouldn't be able to do what I do. I really don't think there's a right or wrong answer to this. It's easy to feel righteous and superior to people who burn all their cash on cars and lattes, but those people keep the economy humming right along, as all kinds of niches exist to service those people - including mine, which is SFRs. People like me likely own their own homes, so they have no use for my services. I grew up in a ghetto so I know what it's like to be dead broke - we were poor enough to not have electricity, telephone or hot water for stretches at a time, and were homeless for 4 months once. Personally, I think it's dumb to burn all your cash on doodads, and I think it's sad that people don't even have enough money to come up with $400, but I'm not in the judgement business - I'm in the rental home business. If these people need $50k vehicles to feel good about life while they rent my homes, more power to them (so long as the rent is paid!).
Skyline Properties - Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes8y
Originally posted by @Laith Ali:
@Terry Miller If taking something that doesn't belong to you isn't theft then what is theft. If you have no rights to your property then you're a slave. If you have to pay the government their rent every year or they will take you're land away then you don't own the land. If you're a farmer who has to give a portion of his crops then you're just a sharecropper. Your idea of society is really just slavery without the whips. Paving a dirt road that I didn't want is in fact immoral. A contractor can't come to my house and force me to replace my driveway or he will kill me, we would call that extortion.
@Deanna O. I never called the 911. The funny thing is the police stole from me "through taxes"
Wow. That is really warped thinking. I'm not even sure I can address everything here, but I'll try to address the basics:
1. You don't really "own" your wages. Unless you are bartering outside of the financial system, you are utilizing the nation's monetary system, set up and governed by the citizens of this nation, with certain guidelines.
2. Unless you renounce your American citizenship, you have the rights - and responsibilities - of citizenship. One of those responsibilities is to pay taxes, as determined by law. The law currently taxes a certain percentage of your income. You can work to change the laws, or you can work for an amount of money below the level of taxation, or you can renounce your American citizenship. Beyond that, you are required to pay taxes.
3. It doesn't matter if you want a road or not. You live in a representative republic. You have elected representatives that make those determinations. Change your representatives, become one yourself, or renounce your citizenship.
Skyline Properties - Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes8y
Originally posted by @Deanna O.:
What true emergency costs only $400? And who says there will only be one?
IMHO a lot of so-called "emergencies" are really planning failures. If you drive you your tires WILL wear out, your brake pads WILL need to be replaced, your car WILL need repairs. If you have set aside $ for the inevitable it is a mere inconvenience vs an emergency. (if you have kids they WILL get sick, and virtually everyone who is employed will at some point be not employed).
I've been self-employed for almost 24 years in a field that is very vulnerable to economic conditions (large event production). For years I have had a plan A, B, C & D.
Plan A - everything is going great. Stash $ in the retirement funds, upgrade the vehicles from Saturns to Toyotas, buy a bunch of gear. Starbucks & smoked salmon. I LOVE smoked salmon.
Plan B - things are a bit wobbly in the economy. No unnecessary expenses, tighten the belt a bit. Still buy coffee at Starbucks on work days.
Plan C - (Dot.com bust, 9/11, '08). Nothing gets spent that isn't mandatory. Save every $ possible, take absolutely any work that comes along, even if I'm wildly over-qualified (not a good long-term strategy BTW). Cook at home, bring lunch to work.
Plan D - Batten down for the Zombie Apocalypse. Beans & rice, sell everything, move in with family & get rid of the horse
Fortunately I've never had to go to plan D. In the current economy I am hovering between A & B, but watching carefully, & ready to shift to plan C quickly if needed.
So yes, significantly than $400 avail. I'd still have more than $400 avail AFTER an emergency ('cause who says you can't have more than one?).
I've also done a lot of planning ahead to keep incidents from being emergencies. For example I always own two cars, thus a flat tire or dead battery (or even a motor blowing up) is an annoyance, not an emergency. Uber would be a functional work-around if needed, but for me the convenience of owning the extra car is worth the several hundred $ per year for insurance & registration.
This is known as redundancy. Nice work! Ex-military here, and there's a saying: if you have two, you have one, if you have one, you have none. Meaning that things are always going to break, and if you don't have a spare you're up Schitt's creek :)
Skyline Properties This article was eye-opening when it first came out (and still is). https://www.mercurynews.com/2017/04/22/in-costly-bay-area-even-six-figure-salaries-are-considered-low-income/. I see the check-to-check, priorities in the wrong place on a daily basis. My father lives in an assisted living facility and 100% of his retirement income (former state employee) pays the facility. Sound money management was not modeled in my home growing up, and I know if it weren't for a workplace retirement planning presentation from a financial planner at my dad's work, he would have zero dollars right now to go along with his zero assets. Each time I visit with him, I'm reminded why it's so important to save and invest for the what-if's.
@Deanna O. I like your approach. I'm beginning to adopt a similar planning habit. I have massive student loan debt so I'm trying to get out from under those ASAP (while still planning for a zombie apocalypse, lol).
Speaking of smoked salmon, I started making my own (lox) which saves a ton of money. 2lb filet on sale, kosher salt from Dollar Tree and a week in the fridge under a cast iron skillet and I've got smoked salmon for weeks! :-)
I never signed up for it that's the problem. You can't force me into a contract, that's all I'm saying. Its a really simple idea. Its more funny than you think, that printed money at one point was exchangeable for a certain amount of gold until the government decided not to honor its contract and it started printing money that it couldn't back by gold.
I never said people should rent for free. I meant that theHide government making you pay property taxes and kicking you out if you don't, means you don't really own the land and effectively you are just renting it. Paying groceries is not extortion. The difference between me paying for groceries and me paying for taxes is that I willingly paid for groceries, I was not threatened. I paid taxes because I was threatened.
@Deanna O. The problem is that if we move and build something nice, no doubt thugs like your government will come and mess it up.
1. You're 100% right we have no right to our wages.Hence slavery
2. I own my land, I never signed a contract with the government. You can't just force me to a contract. Can you imagine if business could force other business into contracts.
3. Yes it does matter If I want a road. What your advocating for is tyranny by the majority.
Laith - You are absolutely right. Land ownership is, and has always been, a fiction. It's nothing more than the "majority" agreeing by some form of "tyranny" (ie the Law) who gets to control what area.
Paying taxes in one form or another for the protection of the right to control land has been going on for thousands of years in virtually every civilization. Sometimes the taxes were gold, lumber, grain or livestock, other times land-holders provided manpower in exchange for the protection of their ownership interest (ie governors provided laborers for the pyramids, lords provided the king soldiers for wars).
For what it's worth, not all human civilizations have had personal ownership of land -- some have had a communal ownership, or partial communal control (ie the village green). Different groups would still fight over control of territory, of course.
- 8yNicole A.Pro MemberRental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
@Laith Ali I had to look it up to remember regarding the health insurance topic. If you do not have health insurance, there is a penalty. Here's the information:
https://www.healthcare.gov/fees/fee-for-not-being-... - Rental Property Investor · Hartford, CT · Member since 2017 · 168 posts · 163 votes8yYes I could come up with the $400 but I’m single and make $58k plus another $12k a year from house hacking. I travel around the world regularly, have a gym membership, and eat out more than I should. My only debt is my mortgage and my student loans. But if I had kids I imagine my lifestyle would be very different. I have health insurance through my job. But I also think that it is rather naive not to have health insurance AND disability insurance that is not through your job. And telling others to skip out on health insurance is really playing with fire if not down right ignorant. My sister who is 36 and perfectly healthy was transitioning between jobs and so had no benefits when she had a sudden brain bleed and was in the ICU and inpatient rehab for 19 days. Luckily her health insurance was through her husband but she did not have disability insurance and so ended up having no income for more than 6 months until she could work again. You absolutely never know when you will get sick or injured and so everyone should get both health and disability insurance, and get it outside of your job. If you are too sick to work, you can lose your job and your insurance will go with it! The number one cause of bankruptcy in the US is due to medical bills. Don’t fall into that trap!
- Grand Rapids, MI · Member since 2018 · 4 posts · 2 votes8yIsn’t it amazing how little financial literacy is grasped by the American nation?! I’m a student in college following accounting. I could come up with 400 and have had to come up with much more in he sight of car repairs and education expenses. Depending on how you see it I’ve had to come up with thousands in a few days or I’ve had to spend nothing at all. With some tax advantages and leveraging a short term accounts payable and reimbursement programs I have been able to move much more money last year than I even made. I’m reading the book on rental properties and it’s similar to creative financing. Annually: 4000 a year for tuition 1000 for books a year Monthly: 100 for gas 80 for phone bill What I’ve been able to do isn’t special to me. It’s available to a lot of people, but they choose not to take advantage of anything they learn about.
@Deanna O. America never completely let go of the feudal system. The king owned all the land and you rented it from him and you had to pay him at the end of the year. Land ownership is not fiction, you can own it. Its only fiction in America. Although having zero taxes is almost impossible in any society. It's just wrong for people to try to make you feel guilty for not wanting to pay "your fair share". So yes we are just serfs. If you feel any different then you are just trying to make the best of a bad situation.
@Nicole A. Thanks for sharing the information.
@Laith Ali You've made your point, however, the question wasn't about taxes. We all agree that it would be great if there weren't any. They're enviable and maybe you could run for public office and change the system. I'm sure you'd get many votes.
The question and responses have been interesting and informative.
Maybe you could start a post on how unfair our tax system is.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Bob B. sounds like communism to me.. and if we did not have tax burden then we would not have social welfare and with no social welfare then were would we be ???? anarchy
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