Saving for emergencies

**porgy1000** · February 8th, 2008, 02:25 PM

Saving for an emergency to me is saving for a flat tire, car repair etc.

Saving for a transplant???????? uh no, a kidney transplant is approx $200,000 plus hospital costs, 3 months recovery etc. Total is approx $400,000. (kidney transplant is not even one of the more expensive transplants, I just used it as an example) I suggest you have good health insurance. However, if you do not have proper health insurance the best thing to do is have the transplant done at a county hospital for free. Even if you have to go to a regular hospital you can still have a transplant done but then you would need to go bankrupt if you do not have health insurance.

I really do not know anyone who would be able to save for something like that. I would NOT consider this as a saving for an emergency.

**hjm331** · February 8th, 2008, 04:31 PM

Yes, I agree with Porgy. The best thing to do for that type of emergency is to rely on your insurance whether its for your car or hospital expenses. That's what they are there for. Plus, you know how much interest you would be paying on $200,000? You would be lucky if you pay it off in this lifetime unless you are rich.

Credit cards are good when you use them to pay for your cell phone bill if you don't want to make a late payment, if your car breaks down, etc.

**Meya** · February 9th, 2008, 12:13 PM

Saving for an emergency to me is saving for a flat tire, car repair etc.

I was just joking...hehehe. I totally agree with you and hjm, I could not save that type of money anyway, that is for Insurance purposes only. Saving to me is for unforsceen incidents like you just explained above. You can never save, just save, and save, that is for those who do not have any major bills, living with their parents, or just leaning off others for a living. Every month or during the month, i have to pay on bills around this camp, and there are times where I have to dig into my savings like for the insurance deductable, that is what savings are for. I dont know how other people do it, but this is my routine.

**porgy1000** · February 9th, 2008, 12:27 PM

I am saving for a 2009 camaro convertible, now that is an emergency LOL, it will be a cool car.

**Meya** · February 9th, 2008, 12:29 PM

I heard that! I cant spend any higher than a buick enclave and that is it.

**porgy1000** · February 9th, 2008, 12:33 PM

This will be my first American car in 20 years, I can just picture me driving it home and seeing the transmission fall out along with the engine parts LOL, brings back memories of my 1998 Lincoln. It was a brand new car, I put it in reverse in my driveway and the steering wheel fell off in my lap

**Meya** · February 9th, 2008, 12:57 PM

Progy, you are so crazy! I am already in here laughing at Pam, now you have me on the floor laughing. What am I going to do with you two?

**porgy1000** · February 9th, 2008, 01:03 PM

Since I am the OLDEST one on this site, I try not to laugh too hard or my hair may fall out LOL

**Meya** · February 9th, 2008, 01:38 PM

oops!

**sophie** · March 13th, 2008, 08:57 AM

I wish I could save for emergencies, I thought that what credit cards were for. It is so hard for me to save money; I would not be able to live the modest lifestyle I have if I saved money.

**descorpio** · March 15th, 2008, 09:59 PM

Well it could be anything for a saving.. an accident, a transplant... who knows.. But the fact is we should be in a position to survive those circumstances. I hope thats what the question means. I would always do not like to be dependent on others at those situations. I plan myself for my expenses and do it. Savings can only be done only when one has the foresight to predict the future expenses to some extent.

I know this will be totally impossible to predict all the expenses. But putting aside a part of income is always good. It will make us self sufficient.

**saurabh** · April 12th, 2008, 10:59 AM

yes i have seen such people but i find it foolish.One must not only save for present but also for future.There should be something to backup the mishappenings of life.

**scribbler** · April 13th, 2008, 06:32 PM

Originally Posted by 100771

I heard that some people don’t like to save on the special cases like emergencies. When asked, they say that they don’t like the idea of thinking about accident. They are afraid that the negative force will make this come true. Are you one of those people?

No, I'm not. I think that's a bit of a "head in the sand" way of looking at it.

We should all try put a little something aside to cover the unexpected and current thinking is anywhere between two and six months worth of salary would be a good target to aim for. The reason a lot of people don't save though is they simply don't have anything left to spare and are living from one paycheck to the next.

**sanjay** · April 17th, 2008, 08:01 AM

Originally Posted by 100771

I heard that some people don’t like to save on the special cases like emergencies. When asked, they say that they don’t like the idea of thinking about accident. They are afraid that the negative force will make this come true. Are you one of those people?

well i have never encountered such people .I think now people are much sensible and they are securing their present as well as future.

**hjm331** · April 17th, 2008, 11:17 AM

Sanjay, you're right. I'm trying to secure my future by saving up money and making all the right decision to lead myself into the right path for success.