I read that half of Americans couldn’t cover an unexpected $1,000 expense. This sounds crazy to me. I understand that poverty exists, but the idea that an adult with a job doesn’t even have that amount saved up seems really strange.
What’s your relationship or philosophy with money? What do you credit for your financial success, or alternatively, what do you blame for your failures?
For the extra brave ones: how much savings do you have, and what are you planning to do with them?
Financially, we are well enough to have my family’s needs met comfortably but frugally. Can’t really ask for more, though additional breathing room would be nice. We can afford emergencies and recover after some time.
My parents and grandparents taught frugality; luck made ends meet like a good job and buying a house at the right time.
We have a bit of savings I have in mutual funds because I’m currently too mentally tired and risk-averse to pick something with higher return potential.