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If something HORRIBLE happened to you right now....

where would the money come from?

Pick anything here... your only car is stolen and you have to get a rental. Your husband is arrested for something you know he didn't do and you have to bail him out. Your newborn needs a medical procedure your insurance (or medical assistance!) claims is experimental and refuses to cover, you have to plan a sudden funeral for someone you thought had life insurance but let it lapse 'cuz of secret financial problems. Doesn't matter what it is.... if SOMETHING happened today and you needed cash fast in the $1500 range what would you do? emergency fund? emergency credit card? be screwed?

 
hibbingmom

Asked by hibbingmom at 3:06 PM on Jun. 8, 2010 in Money & Work

Level 35 (71,876 Credits)
This question is closed.
Answers (26)
  • I would try to stick anyone else with the bill first---then if that didn't work I would have to pay it out of savings.
    blue_glass_mama

    Answer by blue_glass_mama at 3:57 PM on Jun. 8, 2010

  • We have an emergency fund with 6 months of normal living expenses, so $1500 would be an annoyance but not the end of the world.
    Anonymous

    Answer by Anonymous at 3:14 PM on Jun. 8, 2010

  • OP you can always sock away more money here and there for more of a cushion.
    Anonymous

    Answer by Anonymous at 5:41 PM on Jun. 8, 2010

  • savings
    mamakirs

    Answer by mamakirs at 3:08 PM on Jun. 8, 2010

  • take it out of our savings
    peanutsmommy1

    Answer by peanutsmommy1 at 3:08 PM on Jun. 8, 2010

  • I have a "rainy day" savings account...certainly pocket change when comparing to the cost of a funeral or a real medical emergency, but it's more than what I have in my checking account. I dont have any credit cards. I would try to seek a loan from family and pay them back as much as i can bi-weekly
    Owl_Feather

    Answer by Owl_Feather at 3:10 PM on Jun. 8, 2010

  • I came up w/ that figure 'cuz it's all that's in our emergency fund. No savings, no investments, no credit cards. We're debt free other than our 1 vehicle but with a child starting private school in September I just realized we're screwed if we needed to come up with even $1501 in a rush. Being single income and somewhat paycheck to paycheck is rough.
    hibbingmom

    Answer by hibbingmom at 3:12 PM on Jun. 8, 2010

  • .

    Anonymous

    Answer by Anonymous at 3:13 PM on Jun. 8, 2010

  • savings.... We are always building our savings and it's been tough because every time we think we have a good start something happens, but at least we are able to pay for it. Just this week my car needed $1000 worth of repairs and DH car needed $500 worth of repairs. We paid the mechanic cash. Thankfully but it wiped out or savings again. One day we'll get to a point where things like that won't wipe it (the savings) out! We put a min of $300 in savings per month. Right now we are still paying off debt. Once our debt is gone will be able to at least put $600 in savings every month.
    SAHMinIL2

    Answer by SAHMinIL2 at 3:15 PM on Jun. 8, 2010

  • i would have to borrow it from family. im only just turning 23 so i havent really been able to start working on much of a savings account yet. i havent started my career yet, and im in really bad debt already with this recession and everything so...
    PURPULbutterfly

    Answer by PURPULbutterfly at 3:19 PM on Jun. 8, 2010

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