Financially Fragile: Could you come up with $2,000 cash in 30 days?

[Dazz]

Depends of course what time of the year. I'm good for the 2K if given about 10 days notice....except on the following months ;

• January........recovering from Xmas blow out
• February......back to school costs are horrendous
• March..........holidays, nothing left after that
• April............insurances, I hate insurances
• May............GST payments
• June...........pre-pay interest, nothing in the pot left
• July............water rates - skint
• August........council rates - less than skint
• September...GST payments
• October......land tax - duck for cover
• November...still recovering from the land tax bills
• December...hopeless, Xmas and holidays

Other than those months, I'm good to go.

 

[eXc]

I am not an invester at this point, but we are paying an additional $2000 /month above our PPOR loan requirement. We also have cash in the offset.

We are currently DINKs (since May 2011). We plan to have our loan down to $200,000 in 3 years so we can afford to have children. At which point, I have no idea how we would come up with $2000 in a month. As a general rule I have always had emergency money, but I have never had children...so...time will tell!

 

[Dazz]

We are currently DINKs (since May 2011). We plan to have our loan down to $200,000 in 3 years so we can afford to have children.

Ya knocked off all of ya kids in May so ya could pay down your debts a bit more ??

Where'd ya stash 'em ??

 

[MichaelW]

Sort of puts things in perspective doesn't it...

I'm in the tightest cash position I've been in decades due to my property development and I still have about $100K in cash in the bank today in offset accounts. I could probably get half a million in cash within 48hrs if I had to.

Every month I spend about $5K on the credit card and pay it off in full. I, like HandyAndy, carry between $500 - $1,000 in cash in my wallet for every day spending.

$2K is such a piddling amount but to some I guess it is "real" money.

Cheers,
Michael

 

[MIW]

Interesting articles

Well I read somewhere today that,

"Italy is up to its chin in debt…
Hyperinflation haunts the Eurozone…
America is haunted by Depression…
… but one begets the other!
Call of Duty replaces overtime… empty double garages… and more!"

America is haunted by Depression... well no wonder if they cannot come up with $2000.00 in 24 hours? My two kids have more than 21 times that in their savings (age 12 and 16) and I think two of their silver 1kg coins are worth more than that.... No wonder America is in trouble....
I agree that all serious investors here would have that amount already if not more....
Interesting articles though in these times...I will print them out for kids so they learn.

 

[our obsession]

Kristine:

So how would you suddenly find $2,000?

Would you actually have the $2,000 in cash (savings) or would you be using a credit card, line of credit, borrowing from your Mum etc?

My buffer.

Although I am wanting to buy the storage units...and that car wash, and that motel. I want to tinker with the buffer. Soon.

 

[buzzlightyear]

A Buffer killer!

Buffers are vital. This came up recently, when I received a quote of ~$35k for some unexpected underpinning after a laser level report!

 

[shuggy]

I could probably get half a million in cash within 48hrs if I had to. $2K is such a piddling amount but to some I guess it is "real" money.

I sense this thread could turn into a piddling contest

 

[VYBerlinaV8]

An issue with my margin loan meant that I had to find $84k in cash last week. No problem, drew some equity from an investment property.

In a genuine, need it today type scenario, I reckon I could get my hands on about $70k cash, without borrowing from family or friends.

 

[weg]

Yep... no probs if I have 30 days. I'd postpone a couple of bills, reduce takeaway to twice a week, and then there's the 3 pays this month... easy peasy .

 

[Ed Barton]

I sense this thread could turn into a piddling contest

of course; and my bladder is full.

i could get nearly a mil, but i would have to break some term deposits. i think the bank would have trouble giving it to me in greenies. a bit more if i liquidated shares and could wait the few days for the funds.

we are talking about paying off north African pirates to get your mother back, aren't we?

 

[jaycee]

Sort of puts things in perspective doesn't it...

I'm in the tightest cash position I've been in decades due to my property development and I still have about $100K in cash in the bank today in offset accounts. I could probably get half a million in cash within 48hrs if I had to.

Every month I spend about $5K on the credit card and pay it off in full. I, like HandyAndy, carry between $500 - $1,000 in cash in my wallet for every day spending.

$2K is such a piddling amount but to some I guess it is "real" money.Cheers,
Michael

Yes, welcome to the reality of the world, who knew $2k was "Real" for some people in the world

But you knew this already right ?

 

[Piston Broke]

I would say 10K for struggling investors,but 100K in cash notes for successful investors

I like you thinking
But has anyone here actually tried get 100k in cash notes?
It can be a very interesting exercise.

I could probably get half a million in cash within 48hrs if I had to.

You think so? Ask the bank and watch the look on their faces.
Go on give it try, will be fun

 

[Pa1nter]

But has anyone here actually tried get 100k in cash notes?
It can be a very interesting exercise.

No that could be interesting,I haven't ? Best was 30K one day for a car,even to transfer direct deposit they have a limit.
I found that out when I built recently and went to pay the builder a progress payment and it wouldn't go through.

 

[battler]

Could you come up with $2,000 cash within 30 days and if so how would you do it?

One of the ways would be to take a couple of weeks worth of aluminium beer cans to the scrappy.

 

[sash]

Yep...let alone the reporting on Austrac which triggers such transactions.

If you want the AFP's attention try putting through regular transactions for $9990.00.

By the way it might not be a good idea as this is called structuring under the AML (Anti Money Laundering) Laws...I can carry jail sentences up to 25 years! Though they would have to prove that you got the money through proceeds of crime or tax evasion!

You think so? Ask the bank and watch the look on their faces.
Go on give it try, will be fun

 

[Edmond Dantes]

Yep...let alone the reporting on Austrac which triggers such transactions.

If you want the AFP's attention try putting through regular transactions for $9990.00.

By the way it might not be a good idea as this is called structuring under the AML (Anti Money Laundering) Laws...I can carry jail sentences up to 25 years! Though they would have to prove that you got the money through proceeds of crime or tax evasion!

Hmm Sash you seem to know a lot of AML, Threshold Transaction Reports (TTRs); and yes, $9990 can easily trigger scenarios that alerts the Bank...

you work in IT, do you?

 

[RedCat]

Reckon most people here could find $2K in 2 minutes rather than 30 days. There are plenty of people who can't though and it's awful.

Thanks for your post Dazz. Gave me a good laugh!

 

[Tillie]

I can access $2k now easily. I mean literally now, thanks for internet banking.

But I know many who live from one pay day to another and they would definately struggle to raise $2k and I have also learnt that I can not rescue my friends from themselves. It does matter how many times I try to talk about the importance of budgeting and give saving tips.

 

[sash]

No mate ......far too stupid for IT....I work as cleaner/dustman at the Reserve Bank....I got a job there so I could get some tips on how to manage the economy from Glenn Stevens.

The pay is great though!!

Hmm Sash you seem to know a lot of AML, Threshold Transaction Reports (TTRs); and yes, $9990 can easily trigger scenarios that alerts the Bank...

you work in IT, do you?