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Can you cover an unexpected $400 expense?

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How much of an expected expense can you cover

  • I can't cover $400

    Votes: 6 3.9%

  • I can cover $400

    Votes: 31 20.1%

  • I can cover $4000 because I have Tridentboy like wealth

    Votes: 65 42.2%

  • I can cover $40,000 because I am a ATOT millionaire

    Votes: 52 33.8%
  • Total voters
    154
Matthiasa said:
While all of those are coverable, i would be pissed to have a 40k unexpected expense. Not even sure what would cause that as even medical would hit max out of pocket before that.
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I posted a thread about this a few months ago.

The pipes on your property between the water main and your house are not covered by homeowner's insurance nor are they the responsibility of the city.

From what I gathered a horrid, worst case repair scenario can run over $25,000.
 
I will be filthy rich soon, I got phone call saying I have millions of dollars of found money that belongs to me. All I have to do is pay the taxes up front, I am so excited. They even make it so easy to pay, all I need is a pre paid gift card and I give them the number.
 
dasherHampton said:
I posted a thread about this a few months ago.

The pipes on your property between the water main and your house are not covered by homeowner's insurance nor are they the responsibility of the city.

From what I gathered a horrid, worst case repair scenario can run over $25,000.
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I think it's cheaper to just drill a well at that point lol. I paid 17k to get my basement dug up to fix the foundation and weeping tiles, crazy it would be 25k for just a single pipe run. I guess it depends if they have to break up the driveway and rebuild that too, so I guess I could see it, if the pipe passes there.
 
Red Squirrel said:
I think it's cheaper to just drill a well at that point lol. I paid 17k to get my basement dug up to fix the foundation and weeping tiles, crazy it would be 25k for just a single pipe run. I guess it depends if they have to break up the driveway and rebuild that too, so I guess I could see it, if the pipe passes there.
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Yeah but that's Canadian money, down here it would cost tree fiddy.
 
Unexpected expense? So is this like when you go out with another cpuple and have to get the bar tab since your friend went to the bathroom right when they called you for the table and you had to settle the tab?

That's the suck.
 
Just had a 600$ expense pop up when we had some plumbing issues this week.

Overall, I make enough that it would probably take a good $2000+ unexpected bill for my cash amount to even go negative for a given month.
 
ultimatebob said:
What I wanna know is how much money the OP has in HIS emergency fund... or if he spent it all on the McLaren. 🙂
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Let's just say that if I had a McLaren related emergency, I could buy a second McLaren with my emergency fund.

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PixelSquish said:
That's the American way of life. Shiny thing consumer capitalism. The entire system is predicated upon the creation of want and need for stuff. I studied that shit in college in a few marketing courses and I still fall victim to it. They start training us at a very young age.
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I grew out of it at about 12 after the nintendo 64. Haven't really had any desire for the latest and greatest since, even though I loved my n64. It just lost its appeal I don't feel rushed any more, I know anything thats out there I can get way cheaper later especially if its used or theres an equivalent like a basic android verse the latest and greatest iphone seriously who gives a shit my 2 year old cheap android is perfectly fine.
 
Then even if you are the type that likes the fancy clothes and shiny things why spend to zero whats so hard about stopping with a couple grand left in the bank account.
 
skull said:
Then even if you are the type that likes the fancy clothes and shiny things why spend to zero whats so hard about stopping with a couple grand left in the bank account.
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I think a lot of people get caught up in the "Its only $10" mind set. Going to starbucks every day is only $7 a day. Buying lunch at work is only $11 a day. Netflix is only $8. Hulu is only $8. Weekly lawn mowing service is only $20 a week. They don't see frequent large expenses leaving their bank account so it doesn't feel like they are spending a lot. Their checking accounts may also fluctuate a lot so its hard to see how much or little their account has. On payday it looks good. On bill pay day it looks bad - but another payday is just around the corner so its ok because they'll have more money then
 
Technically TridentBoy, but I honestly don't like having that money sitting around not doing anything....I do need to do something proper with it, though.
 
You shouldn't leave your parents home until you have 100k in the bank. Suck up the commute, suck up the lack of night life not living in the high rent apartment in the city.
 
momeNt said:
You shouldn't leave your parents home until you have 100k in the bank. Suck up the commute, suck up the lack of night life not living in the high rent apartment in the city.
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Someone right out of college isn't going to reach $100K very fast when they're making $15 to $20 an hour. It takes time to work your way up. My parents told me I need to get out right after college. That's what I did. Made $16 an hour (18 years ago) and rented a cheap apartment. I'm very independent and never rely on others for support.
 
momeNt said:
You shouldn't leave your parents home until you have 100k in the bank. Suck up the commute, suck up the lack of night life not living in the high rent apartment in the city.
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Eh - there is something to be said about living it up while you're young. Its all about balance and chances are you won't have the same opportunities, amounts of opportunities or viewpoint on those opportunities as you get older. I moved out well before I had $100k and still wish (at times) that I had spent a little more time on the nightlife. I'm sure there are people who feel the opposite so just do the best job you can at trying to find the balance
 
I can cover $40k. Old enough and make enough that not setting up a proper emergency cash fund can't be excused.

The way we do our expenses and savings is that wife and I set up required funding levels of retirement, college and misc savings accounts (eg emergency, car, house, etc.) based on agreed targets. Try to make this #1 priority.

We then set up automatic transfers into separate accounts for the big bucket items. Needs to be segregated from cash flow accounts (ie checking) so it's visible, harder to access, and not mixed up in other money.

Certain amt goes towards routine bills (also an automatic transfer, set amount, so forces some level of budgeting) and leftovers are our individual spending money. She had hers, i have mine.

I don't care what she spends her cash on and vice versa. There is no CFO in our house. I don't micromanage it. Just need to be able to pay off any CC bills at end of the month.

If you want more spending money, look to reduce personal spending or cost of routine bills (eg switch cable companies for lower rate.) Car purchases also come out of here too. Don't care what she buys, just needs to be fully funded from spending money funds. Put more into your car, and you have to cut from somewhere else.

Once a year or so we try to look at the overall budging and tweak levels as needed. Usually around performance review/raises time so raises get diverted mostly into savings and not free spending money.


Works well for us and is low maintenance, avoids fights, and helps us minimize lifestyle creep. I have no desire or time to track all my purchases. Just need to be able to pay shit off.
 
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I never learned how true money management works when growing up, and learned the hard way when I spent 3 years living a very sacrificed lifestyle to dig myself out of debt. But that was then, I now save quite a bit and am completely debt free except my house. I can now comfortably afford a $4k disaster if I had to.
 
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