6 Reasons You Should Always Have $1,000 in the Bank

how not to be a cheapskate - money

What do most people do when they have a $1,000 emergency? Based on my observations over the years, they…

Set up a Go Fund Me account (eye roll…so because you don’t manage your money well and now have an emergency, you think I should foot the bill for you??…I don’t think so) Put the emergency expense on their credit card and then try to pay it down over time (which never works because inevitably another emergency pops up before you can…or you know, you need to fund a vacation or something) Borrow the money from a family member and pay it back as quickly as possible…as if there’s not already enough fuel there to start a family feud Scrimp and save to come up with the money quickly

Or, people simply take $1,000 out of their savings account, pay the bill, and get on with their lives. Obviously this . . . → Read More: 6 Reasons You Should Always Have $1,000 in the Bank