Comments Just Posted
Keep your retirement for just that... retirement. I know with my general savings account, I used to build it up a little, and then use it to pay bills... I wasn't really saving anything in the long run. My biggest challenge has been to keep my hands off of that savings account and let it grow for a rainy day. It sorta the same thing with taking $ from your 401(k). Yeah, it could help with a current emergency, but your doing a lot of damage in the long run.
Josh
Good point... especially with cars, think about what you're getting yourself into before you do it. I must admit I have an SUV to get me through the 100 inches of snow we get in the winter... but I almost got a little two-seater instead... but getting around snow drifts, having to add snow tires, etc. would not have been worth it.
Josh
Many people just don't realize that pets can be a huge budget strain. A co-worker of mine's pug just got diagnosed with cancer (at only 2 years old!) and needs radiation therapy. Even with the pet insurance they have, it is going to cost them $10,000+.
People need to consider whether they can afford these kinds of needs of their pets as well, because obviously a $10,000 pet medical payment could be financially devastating.
Amanda
I agree that this would be a situation where an emergency fund would have alleviated the problem. Planning ahead is hard when the future is uncertain... but that very uncertainty should be what drives us all to save for a "rainy day".
Amanda
04/10/2008
Isn't my tax rebate my "secret savings account" for my "free money"? Why spend it on something useful? vacation it is...
04/15/2008
I've got too much debt and not enough time for a vacay... my rebate AND my refund are going straight to credit cards :(
04/15/2008
I know it's the responsible thing to spend it repaying my credit card debt, BUT I'll slowly go insane if I don't spend it on some vacation instead. But kudos to you for being responsible Ted!
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