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>since you can afford fewer and smaller recurring costs if you don't want to be eaten alive in late fees, interest, hits to credit, etc. because you get paid to
by FooHentai 9y ago
>since you can afford fewer and smaller recurring costs if you don't want to be eaten alive in late fees, interest, hits to credit, etc. because you get paid tomorrow but the bill is due today—the bane of my particular existence, living the dream.
What on earth are you doing, not maintaining a buffer?
- abalashov 9y agoTwo problems with buffers: (1) never making quite enough money to get ahead of expenses enough to create one, (2) I owe significant back-taxes. Any larger liquidity event that could otherwise be used to establish a buffer goes to try to pay down taxes owed. There's little point in accumulating assets when they can just be levied by someone you owe a lot of money to. At that point you might as well just cut them off at the pass and give it to them voluntarily.