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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
skull said:
I think its more about the fact that 40% of americans are dumbasses when it comes to money.
Click to expand...

Or the fact that wages have been stagnant for decades while costs of living keep going up. When I moved in my house about 10 years ago most of my bills were half of what they are now. Municipal taxes and water/sewer as well as Hydro are among the worst offenders. A good chunk of my income goes towards that alone, while the rest goes towards the mortgage. The mortgage is about the only bill that stays the same because that's fixed.
 
skull said:
Thats no excuse if your talking california in the midwest I have a cheap mortgage and average income around 40k my mortgage is a little over 10% of my income, in california the average income is what 100k so that leaves more money left over than I even make.
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LoL let me know where I can get a 100k income for non management professionals.
 
AznAnarchy99 said:
LoL let me know where I can get a 100k income for non management professionals.
Click to expand...

Ask trident even he managed to figure it out, if its so bad move, people that put up with it are the reason prices are so high. No need to cry about something you can change.
 
woodman1999 said:
I wish the bottom line didn't trump all.
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Nothing trumps the bottom line. Nothing. :colbert;

Red Squirrel said:
Or the fact that wages have been stagnant for decades while costs of living keep going up. When I moved in my house about 10 years ago most of my bills were half of what they are now. Municipal taxes and water/sewer as well as Hydro are among the worst offenders. A good chunk of my income goes towards that alone, while the rest goes towards the mortgage. The mortgage is about the only bill that stays the same because that's fixed.
Click to expand...
So government. 100% agree.



The real question is how long would it take you to recover form a $40K expenditure?
 
my friend is about to lose his house insurance (this will also default his mortgage) unless he upgrades the 60 amp service to his house. He is looking at between $1300 to $2300 CDN to do this.

😱
 
Survey established families or at least homeowners. Of course most 22 year olds living alone who blow their income on cigs & beer won't be able to throw $400 at a problem in an instant.
 
Iron Woode said:
he has an old house built in the 1940's, I believe.

Yes, I know about the appliance issues. That is why the insurance company wants it upgraded. They gave him one month to get it done and they want proof the work is being done.
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60 was plenty back then. Our house was built in 1937 and it had a 100A. Baller.😀

1 month sucks but I understand.
 
Jaskalas said:
Overwhelming majority of ATOT claims to be rich. Interesting.
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dullard said:
Most of ATOT is made up of mid-career computer geeks. Covering $4000 should be easy for the vast majority of us.
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That's really it. I don't think there are too many 20yos on this forum from what I've seen. More like a bunch of former 20yos from a different era of the internet.

Not in IT, and took a while to build my savings, but you have to have goals & priorities and keep at it.

I have a good job now, good savings, but it freaks me out watching how some people spend their money. So many spend all that comes in and live too high compared to income.

By no means just young people. 68yo neighbor just sold his house to move as he just retired and has $0 in savings and no pension. Fancy deck and perfect landscaping, but broke as a joke. OMG.

Many baby boomers haven't saved anything.

Still see all these big ticket expenses down the line (kids in college, non stop house maint.) and it still doesn't feel like enough.
 
highland145 said:
Nothing trumps the bottom line. Nothing. :colbert;

So government. 100% agree.



The real question is how long would it take you to recover form a $40K expenditure?
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Average price of new car is around $35k and average new car loan is almost 6 years, So about 6 years for average person.
 
Mid-career IT. $400 sure, just covered a 1k septic system refurb/pump replacement. $4k would go straight to credit. $40k ain't happening without me beg/borrowing/stealing. I have virtually zero savings (aside from credit lines and retirement fund), intending to change that once debts are paid off, cuz i hate interest.
 
mdram said:
60 amp service? does he live in a camper?
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https://www.mnn.com/your-home/at-home/blogs/how-low-can-you-go-japanese-movement-clamps-down-on-amps
"In Japan, more than 40 percent of Tokyo Electric Power Co. customers rely on 30 ampere breaker boxes — the Ampere Down movement is all about driving that figure down even further."

60 A is difficult, for much of us who have McMansions or who have terribly inefficient appliances or have terribly inefficient attitudes (I'll turn off that lightbulb next year). But 60 A is quite doable.
 
dullard said:
https://www.mnn.com/your-home/at-home/blogs/how-low-can-you-go-japanese-movement-clamps-down-on-amps
"In Japan, more than 40 percent of Tokyo Electric Power Co. customers rely on 30 ampere breaker boxes — the Ampere Down movement is all about driving that figure down even further."

60 A is difficult, for much of us who have McMansions or who have terribly inefficient appliances or have terribly inefficient attitudes (I'll turn off that lightbulb next year). But 60 A is quite doable.
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doesnt take a mcmansion
electric stove - 50amp circuit
elect dryer 50 amp circuit

so run either one and your left with just enough to power a light bulb
throw in an ac unit or heat blower motor and you cant cook while running ac/heat
 
About 40 percent of adult Americans would not be able to cover an unexpected $400 expense without selling a personal item or borrowing money, according to a new survey of U.S. households.
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Wooooow. That is some harsh shat.

And to answer the OP, yes, easily, the $4000 one too. BALLA
 
I learned long ago that disposable income doesn't exist. I'm good for almost anything now.

For instance, a couple weeks ago a piece of a molar break off. I'm having a crown applied in a few days. Have never had a problem paying for my dental work. Health comes first.
 
Iron Woode said:
my friend is about to lose his house insurance (this will also default his mortgage) unless he upgrades the 60 amp service to his house. He is looking at between $1300 to $2300 CDN to do this.

😱
Click to expand...


That's retarded, how the hell is 60 amps less safe? Insurance companies can be ridiculous sometimes. He should shop around and switch insurance before spending that kind of money. So many people including insurance companies don't seem to understand the whole point of breakers and fuses. You can't overload a service because it's lower capacity, it just means you can't run as much at same time because the fuse will do it's job and trip. It's not less safe. If you "overload" it, it will trip, not catch on fire.


highland145 said:
Nothing trumps the bottom line. Nothing. :colbert;

So government. 100% agree.



The real question is how long would it take you to recover form a $40K expenditure?
Click to expand...

That would take me a decades or more probably. I'd probably just re-mortgage the house at that point. That's what I did when I had to get weeping tiles redone and that was 17k. Though I needed a new car around that same time which cost me around 5k. I had enough to cover for the car since I had been saving up for weeping tile project but I ended up maxing out the credit line anyway as I just had both expenses at once that had to be done. So I opened the mortgage to clear the credit line.

I have around 9 years left on the mortgage so once that is paid off then I'll be in a better position to save, well somewhat. By then my costs of living will probably have doubled again. At some point I should probably look at moving somewhere with lower municipal taxes and somewhere with a big enough property so I can setup a big enough solar array to live off grid.
 
Red Squirrel said:
That's retarded, how the hell is 60 amps less safe? Insurance companies can be ridiculous sometimes. He should shop around and switch insurance before spending that kind of money. So many people including insurance companies don't seem to understand the whole point of breakers and fuses. You can't overload a service because it's lower capacity, it just means you can't run as much at same time because the fuse will do it's job and trip. It's not less safe. If you "overload" it, it will trip, not catch on fire.
Click to expand...
people will blow fuses (these old system most likely have them
they get tired of replacing said fuses, and put in larger ones, leading to issues
 
mdram said:
people will blow fuses (these old system most likely have them
they get tired of replacing said fuses, and put in larger ones, leading to issues
Click to expand...
also the chance of sub-standard wiring (I have seen a lot of that in old houses).
 
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