Whats your rainy day fund

phuketrichard · Post by **phuketrichard** » Fri Jun 13, 2014 2:57 pm

To all out there?

how much $$ do you have available?

What if you suddenly lost your job and it was 6-8 weeks before unemployment payments began to trickle in?
What if your child suffered a medical emergency and you needed to purchase an expensive medication?
What if your refrigerator began making a death rattle and you needed to buy a new one immediately in order to save your expensive frozen food stockpile?
What if your car, that you needed to get back and forth to work, required a costly repair?

Would you be able to make it??

Most experts recommend a starting point of 1-3 months of expenses. And by expenses, I mean everything from house payments to car payments to projected utilities to food costs.

Donâ€™t underestimate how much it takes to run your household every month â€“ be sure to account for all of the regular expenses you might need to cover during an emergency situation.

http://www.lewrockwell.com/2014/06/dais ... %E2%80%A8/

Personally, i am good for a few years, but than i have had some good runs in my life.
I have not lived month to month since i left College

Milord · Post by **Milord** » Fri Jun 13, 2014 3:53 pm

Also, I find it imperative to have more than one Bank, cards, credit lines because mindless drones now run them.

"Computer says No", is the extent of their financial wisdom.

Duncan · Post by **Duncan** » Fri Jun 13, 2014 4:54 pm

I have a centerlink account managed by the Australian government. Apparently there is enough money in there for me to live on until the day I die. [ I hope ]

StroppyChops · Post by **StroppyChops** » Fri Jun 13, 2014 5:07 pm

Duncan wrote:I have a centerlink account managed by the Australian government. Apparently there is enough money in there for me to live on until the day I die. [ I hope ]

Make sure you do something active with that account at least every three years (used to be seven) or the Australian government will take it 'and hold it for you' until you ask for it back - as a ruse for cleaning out bank accounts of the elderly and likely deceased.

Duncan · Post by **Duncan** » Fri Jun 13, 2014 5:35 pm

StroppyChops wrote:
Duncan wrote:I have a centerlink account managed by the Australian government. Apparently there is enough money in there for me to live on until the day I die. [ I hope ]
Make sure you do something active with that account at least every three years (used to be seven) or the Australian government will take it 'and hold it for you' until you ask for it back - as a ruse for cleaning out bank accounts of the elderly and likely deceased.

The official name for my type of account is called a pension. Given to all wining, moaning Aussies that have pissed all their money down the drain, smoked it or gambled it away and turned 65.

StroppyChops · Post by **StroppyChops** » Fri Jun 13, 2014 6:27 pm

Apologies, I thought you were getting your pension paid into an untouched account.

YouTube · Post by **General Mackevili** » Fri Jun 13, 2014 6:48 pm

My credit card.

phuketrichard · Post by **phuketrichard** » Fri Jun 13, 2014 7:02 pm

an if the bank accounts are frozen/ ie no atm withdrawals and cc can not be used?

imho; you should have enough cash at any time to last 2 months and a little bit extra to get the fuck out of dodge if the shit hits the fan.

If i cant access any of my accounts via atm's or online banking, I have enough cash for 2 months living plus my gold which is easily transported/sold

phuketrichard · Post by **phuketrichard** » Fri Jun 13, 2014 7:03 pm

General Mackevili wrote:My credit card.

Credit cards are NOT a rainy day fund. A rainy day fund is currency that you have on hand that will not cost your interest

YouTube · Post by **General Mackevili** » Fri Jun 13, 2014 7:16 pm

Oh.

Maybe $100 at the moment.

I just thought you meant money we have access to if shit hits the fan. I didn't realise the rainy day stipulated no ATM's and that the cash had to be practically on hand.

So cash on hand, a few hundred usually.

But if shit bit the fan and ATM's were working, I'd be good for well over a year.

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