3 ms·
Couple of thoughts: 1. Although I agree it’s a problem, this isn’t new news I don’t believe. I don’t have good references to point to right this second, but I
by whatl3y 6y ago
Couple of thoughts:
1. Although I agree it’s a problem, this isn’t new news I don’t believe. I don’t have good references to point to right this second, but I swear I hear almost monthly if not more often that most people couldn’t come up with $500-1k in an emergency, much less multiple months of expenses.
2. The article points to COVID-19 exacerbating these findings, but on top of the cash every US tax payer received who made under the defined threshold, there were a ton of things put in place or implemented like aid, loan forbearance plans, rent extensions etc. as apart of COVID-19. It seems a little (but I guess not totally) surprising that this crisis is what brought to light this issue.
- snow_mac 6y agoDave Ramsey would say ANYONE can come up with $1000 for an emergency fund...
- drunkpotato 6y agoDave Ramsey can say whatever he likes, he's the head of a massive personal finance brand. Having listened to a fair bit of him, and Mister Money Mustache, I can say it's a mix of decent advice and completely oblivious out of touch-ness, as well as a complete unwillingness to face how incentives actually work in the real world, despite an insistence, contrary to all evidence, that they are somehow hard-nosed realists dispensing truth. As in, their advice is worthwhile, in as much as it helps you live your life in a way that makes you happier. Beyond that, they're just as stupid as everyone else.
- sethammons 6y agois that missing a sarcasm tag? I've been poor to the point where saving _anything_ was not possible for years on end.