/biz/ - Business & Finance

>>15527856
$15k

About $20,000, but it's all in link, and never selling. So effectively 0

3 months expenses minimum...I try to keep around $6k but want to double to 12k one day.

>>15527856
none, I have a bad credit score too. But I have 10k link, so idgaf

>>15527856
usually save until 15k then invest 10k and start saving again

>>15527856
6 months living expenses if you're an anxious guy, that way if you lose your job you have 6 months to find a new one

None. I'm not an idiot. I have no need for an emergency fund.

>>15527875
All emergency money in crypto...yup it's good you live in a basement

>>15527917
>I have a bad credit score
>I have 10k link
Predictable

>>15528343
This.

I’d just take a margin loan on my investments to cover short term needs and liquidate them completely if it came to that. I’m on pace to be debt free in the next 1.5 years and nothing will stop me now.

>tfw graduated college in 2011 and still owe $6K

10k but it's all in ETH and I wouldn't sell this low I'd rather risk jail for whatever emergency arouse

>>15527856
I live paycheck to paycheck, and only keep *just* enough money in the bank to cover rent and monthly credit card payoffs

if I ever encounter an emergency, I have thousands and thousands of dollars in available credit on my credit cards that I can use to cover it

then if I want to pay off the unexpected credit card charges, I have the next month to cash out some stock or crypto and move it over to my bank to pay off the credit card

I never understood the reddit-tier advice to keep $5,000 in the bank at all times, earning essentially zero interest. Like, what's an emergency where you'd need immediate access to *cash* and not a credit card -- kidnappings? ransomed friends and relatives?

so yeah it's paycheck to paycheck for me.

>>15528426
Why the fuck do you all have credit cards?

>>15527856
100k in Crypto
4300 in the bank

>>15527856
That’s why brainlets should by gold coins in scenarios like this. You can easily liquidate your Coin within hours and pay off the emergency the day of while storing your wealth and not losing it to inflation, low interest rates etc..

>>15527862 $15000
>>15527875 $20000
>>15527876 $6000-$12000
>>15527918 $5000-$10000
Are you talking about cash (paper money) or money in a bank account ready to withdraw (checking account or something liquid)?

I keep $1000 cash in my sock drawer, just in case, with the assumption that if I did have an emergency I can get to the bank to tap my liquid reserves.
If y'all are actually keeping thousands of dollars in cash on hand, I might want to rethink my assumptions. Why store so much cash? Do you have a safe?

About 4000 dollars in precious metals

>>15528426
You'll get rekt on capital gains if you don't hodl for over a year though.

>>15528470
Bank account, not cash. Cash on hand is dumb as hell.

>>15528438
because we’re not retarded anon, and realize that a dollar today in our hyperinflationary market is worth more than a dollar a month from now

>>15528486
so? people lost 95%+ here and you’re worried about a 35% lmao

>>15528470
I keep $500 cash on me and $1k in my house, the rest is in a bank account

>>15527856
WHO THE FUCK CAN AFFORD AN EMERGENCY FUND IN THIS ECONOMY!?

I keep bitcoin as my emergency fund

>>15528544

I keep cash on hand because I run a business, but other than that i'd never do it. In my younger days I thought it was cool to carry around $2-3k in cash in a stack, but fuck that shit nowadays. Instead I got $20k or so worth of credit in my wallet.

Hospitals happily take credit cards. My attorney also happily takes credit cards. My CPA takes a credit card, my vendors take cards and/or trade credit, I mean I really don't have the use for money besides day-to-day business. But I can see the use for it; have a friend that owns a business, business suffered a break-in a few months ago, waiting on insurance to pay out (which he's in a sensitive industry, owns a gun store) and he's having problems with that. Still needs liquid cash to pay employees and shit and he's starting to run short. So in a case like that you might want assets, but my business isn't anything in a sensitive enough of a niche that would have such hurdles to overcome.

>>15527856
I remember reading something similar about people in the UK too, something like a third don't have £1000 in savings. At least I have a bit more than that saved from when I was employed.

>>15527856
i have around $70k in cash, not really an emergency fund but to buy dips in the market

>>15528438
because if you get a 2% cash-back card with no annual fee, and you pay off the balance in full every month, then you're getting a 2% discount on everything you spend for the rest of your life, no strings attached

alcoholics should avoid alcohol, and people with poor impulse control should avoid credit cards, but as long as you live responsibly, using a credit card to get 2% off on everything is a no-brainer

>>15527856
About 400 bucks lol

>>15528606
WOW 2%?!?? HOLEEEY SHIT!!!!

>>15528486
I only hold long term, so thankfully this isn't a problem for me

I have about $60k in liquid assets I could use and about $135k more I can pull but I would get charged interest on it.
wtf is an emergency fund?

>>15527856
>How much cash do you keep in your emergency fund?

20k LINK

>>15527856
that's how emerjewncies work

>>15528617
t. never played MOBAs or understanda long term value of 2%

>>15528617
okay, sure, you can pay full price for the next 50 years of your life, and as for me, my 50th year will be free (and then some, from accumulated interest)

have fun counting change every time you make a purchase, or even worse, leaving records of your bank account information everywhere if you're pic related enough to use your debit card

>>15528671
yeah man if you go ahead and blow $10k a year on bullshit for the next 50 years because you're being cucked into overspending by a 2% carrot dangling in your face you might make a whole whopping 10k from it!!!! wow buddy! give me some stock tips while you're at it!!!

>>15528402

>>15528426
>that $5k in the bank earns a meger 2% apy interest
>borrow against a credit card and accrue 15%+ (or 29.99% if you miss a payment) apr interest

Really makes you think

>>15528671
>>15528734
dear god what will it take for debit card cucks to ever get it, it's literally free money

i don't understand how someone could be so naive

>>15527856
zero. thats what my credit card is for. by the time i have to pay the credit card balance i've already sold the exact amount of equities as possible to cover it.

not only does this ensure i am constantly making gains but i also get points for my expenses.

>>15528617
2% on money you were going to spend no matter what. there is absolutely NO REASON to not be funneling your expenses through a credit card. being an impulsive shit head isn't a reason.

>>15528734
>"here, have some free money"
>"i don't want your free money, it's not enough"
this is literally how stupid you sound right now

>>15528734
if you really are so retarded that you can't help but swipe the visa on bullshit, set up the card to autopay your bills and then cut it up or put it away where you won't be tempted to use it.

>>15528441
based

>>15527856
>$10k inna bank
>$100k inna crypto (Btc/Dash)
>$3k inna gold/silver

I’m gonna make it r-r-r-right g-g-guys?

>>15528568
What will you do when banks go bankrupt in the incoming global crisis?

Have zero money.

>30k crpyto
>17k bank
>1.2k silver
>1k IRA

where am i

>>15528470
I have buried cash hidden around Colombia

>>15528343
>I'm not an idiot. I have no need for an emergency fund

Heh

>>15528441
This guy fucks.

$1000

I live at home. I try to keep my checking account there at a minimum. The rest goes to the markets. I'll probably lose a lot of money, but I'm fucking trying here

>10k emergency fund with betterment, 60% stonks/40% bondage
>15k in checking, kind of sitting on it, usually just try to keep 5k in there
>another 10k etfs in taxable account
>100k in crypto
Feels shitty tho because no house/condo, no wife, and 20k in student loans. I'm going to make it, but it's slow getting there.

>>15527856
1000$ in a small safe with a handgun and a few other items. 10k in a bank account. The rest is in investments.

>>15530783
Is there zero interest on credit cards if you pay it off every month or something, plus literally giving you 2%? Do these companies only profit off of idiots who overspend and can't pay the entire principal off each month? If that is the case then jfc people are retarded.

>>15530783
IDK man they're just retards. I've had a 1.5% cash back credit card for 4 years and I've never once paid a cent of interest, but I've gotten hundreds in cash back over the years. Looking at adding a rotating category 5% card to increase my cash back.

>>15528415
The whole fucking point of an emergency fund is to not liquidate your assets.

>>15531753
That's is exactly what it is. Idiots hold a balance and pay 20% interest while the smart people get free shit for using money you would spend anyway and paying 0 interest.
I've received 1 million airline miles, thousands in cash back, million hotel points. Paid 0 in interest and I don't spend extra just to get more points. That would be retarded.

I do end up spending more money traveling though, but I have 0 debt, 100k emergency fund, and 300k in stocks.

I went to /biz/ thinking about diversifying with crypto but it seems a lot of the posts are people losing money or basically gambling