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

[Thann]

This , both parts

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.

 

[MichaelW]

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 ?

Yes I did of course, and was being a bit flippant...

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

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

Who said anything about banks? A relative of mine has that much stashed around their house in cash notes as she doesn't trust the banks, never has...

But you're right. If I went to the bank and said i wanted to draw down all my LOCs in cash i think 48hrs would be very optimistic.

Cheers,
Michael

 

[eXc]

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

Where'd ya stash 'em ??

shhhhh....

Only been married since then

 

[Sheryn]

Yes I understand where you are coming from...

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

Yes and it would come out of the offset account, what is pleasing also is both kids could come up with this amount as well from their offset or redraw accounts.

There are a lot of long term low income earners who definitely would struggle but they can access:

• free dental (waiting time except for an emergency),
• free medical via Emergency departments or Bulk Billing Doctors surgeries, reasonably cheap or free medication. Was talking to a guy this week and the monthly cost of his pills is $600 except he doesn't ahve to pay that as on a disability pension.
• Centrelink welfare support
• a no interest loan of $1000 from neighbour centres to buy or replace an item eg fridge.
• Pensioners also get rates, electricity, telephone, transport etc discounts as well as Rent assistance.

Won't go on but I am grateful to live in Australia.


Regards
Sheryn

 

[silverx]

i think i can raise 2k in 30 days, but that would be really pushing it (means no extra repayment, living on bread and jam and no dine out for a month)

 

[DaveM]

$2k no probs. $20k no probs. $100k, depends on how much I want to draw down on my directors loan account in the company books

 

[Jaggannath]

I could get up to three million on a credit card instantaneously, and then I'd have thirty days (maybe less) to get out the country before the CoA locked me away

 

[Kristine..]

Hi Blacky

The $2,000 question was put to a representative sampling of 300,000,000 people

It was relevant to them - a very sizeable minority replied that they would have difficulty or could not come up with $2,000 within 30 days

By all means start your own thread with whatever parameters you wish

But I am interested in people's considered responses to what is a fairly basic question


I am amazed at the histrionics this question has inspired by way of response.

Who are the 'most people on this forum' who have been referred to so emphatically in a number of the replies

I tell you, to come up with $2,000 within 30 days has been exceedingly difficult for me more than once in the time since I joined this forum

So I am somewhat bemused how 'everyone' else can just waft about with $20,000 and $200,000 either in their wallets, their desks, or magically within a minute or two, let alone 30 days

I think not.

But - perhaps the respondents to the American survey were more honest in their responses and the silent majority of forum members who have not replied to this post would also find it a tad inconvenient



Cheers
Kristine

 

[DaveM]

Lets move the question. If for some reason you missed an entire months income (total income that is - Rent, salary, dividends etc etc etc). Would you be able to find that money elsewhere? If so, how many months can you survive?

Without drawing down on my directors loan (preserved business equity) I could survive for 10 months including all expenses.

 

[Shaneelastic]

this has just turned into a ********* competition

 

[wobbycarly]

this has just turned into a ********* competition

Nah! I just have to walk down to the ATM, punch in my 37 digit PIN and I can withdraw the entire contents of the machine! 42 munfs interest free.

True story.

 

[Blacky]

sorry, wasn't my intention to either hijack the forum, nor turn it into a ******* comp.

Ill stand back on watch from here on in.

 

[Jaggannath]

Hi Blacky
So I am somewhat bemused how 'everyone' else can just waft about with $20,000 and $200,000 either in their wallets, their desks, or magically within a minute or two, let alone 30 days

I think not.

But - perhaps the respondents to the American survey were more honest in their responses and the silent majority of forum members who have not replied to this post would also find it a tad inconvenient

If you think about it, the people who can't are probably less comfortable admitting this on a forum with so many high rollers. For the record, I could reach into my redraw and get $2000 quite easily, because of the discipline I've made in always paying extra on my PPOR loan. I imagine a large number of people on this forum own multiple properties where there is ready equity available, as they are usually freeing it up for a deposit on the next place.

This forum is not representative of Australian society, so don't get wrapped around the axle by what you may feel is smarty-pants answers, the answers are honest IMO.

 

[Doovalacky]

I tell you, to come up with $2,000 within 30 days has been exceedingly difficult for me more than once in the time since I joined this forum

Perhaps cause as investors most of "us" are aware that at any point in time we could have a blown water heater, tenant doing a runner etc. As such its common sense to have a reserve of cash or some form of easily accessible credit/redraw.

I've survived being out of work and having to replace a car while evicting a non paying tenant. Without those reserves I would have had the bank knocking on the door for the keys...

 

[Alex P Keaton]

yes


======

 

[Pa1nter]

So I am somewhat bemused how 'everyone' else can just waft about with $20,000 and $200,000 either in their wallets, their desks, or magically within a minute or two, let alone 30 days

I think not.

But - perhaps the respondents to the American survey were more honest in their responses and the silent majority of forum members who have not replied to this post would also find it a tad inconvenient
Cheers
Kristine

Hi Kristie,I see where you are coming from,but before you call most of us liars,you need to know our history,most have struggled early and from those struggles have emerged much stronger.

I personally can survive with many years of no income and then some,and that is before I have to draw on equity or deeds in the safety deposit box.

I am sure there are people out there on this forum who would struggle with that amount,but honestly if times get any tougher they will no longer be investors.

 

[jaycee]

Hi Kristie,I see where you are coming from,but before you call most of us liars,you need to know our history,most have struggled early and from those struggles have emerged much stronger.

I personally can survive with many years of no income and then some,and that is before I have to draw on equity or deeds in the safety deposit box.

I am sure there are people out there on this forum who would struggle with that amount,but honestly if times get any tougher they will no longer be investors.

yes of course that's always the risk nd some peopel know this & rightly or wrongly even choose not to invet becuase of this etc.... , but what's your point ? People only have what they have... you're not going "hahaha" about that surely, but what ARE you saying ?

 

[Pa1nter]

yes of course that's always the risk nd some peopel know this & rightly or wrongly even choose not to invet becuase of this etc.... , but what's your point ? People only have what they have... you're not going "hahaha" about that surely, but what ARE you saying ?

No matter what I say you will try and twist it to suit yourself,if I was going "hahaha" about it I wouldn't have a frown face following it,I would have a face

People only have what they have...

Thats a pretty wierd line,"yes" many people only have what they have because they have made decisions in the past being it work,smoking,drinking,holidays,cars,boats etc.
But some have made right decisions and sacrifices to get to the spot where they are now.

 

[Dazz]

Nice reply Painter. Kudos.

 

[Corey Batt]

Because of an 'oops' moment with my works payroll, the ATO surprised me with a 3k repayment for my HELP debt. Wonderful Just saved it over the month.

Like others have already mentioned, it is a lot of money to some, not a lot to others. I'd hope that most of us would be able to meet this test.