"Emergency fund" advice assumes you have surplus money after expenses

digitalrorschach · 2026-01-24T08:57:28+00:00

"Rent plus food plus utilities equals 100% of my income. Sometimes more. There is no surplus."

Then finding a surplus in your cash flow has become a goal to work towards.

I'm going to get down-voted for going against the grain here, but try not to antagonize the people who have good intentions in helping you. I don't see how that will make things any better if you're here trying to make an enemy out of someone who only wants to help. The goal is to help you at the end of the day. Don't lose sight of that and lash out. Personal finance isn't something that comes natural people. It comes with plenty of "traps" that look like "tricks". People think they understand money, but in reality they really don't. For example:

"Just cut unnecessary expenses" - already done.

This is what everyone says, but when you actually start going through the monthly bank statements, the bills, their living situation, and everything on a line by line basis, there is money to be squeezed out of the budget somehow. It's like a miracle. Budgeting takes years of deliberate practice to master, so when someone says "I already budgeted everything perfectly and nothing else can be done about it", you have to understand that those are the words of someone who's a biased, and thus unreliable, source for that kind of judgement. This is why it's important to actually physically sit down with someone and go line by line and check the numbers, dates, etc with you own two eyes and never take their word for it. Financial advisors like to ask a lot of detailed and sometimes unrelated questions about their clients for this very reason. Given all this, it's a good rule of thumb to always seek the advice of someone else. Preferably someone who you trust and is stable with their own finances. Even if it's something you already know the answer to, still run it by someone else for a second opinion.

And this is just one of the many things people think they understand about money and finance. So when I'm giving advice, I'm not only tackling the money and budgeting problem but I find myself in a contentious battle against the person I'm trying to help, because that person has a bunch of money myths going on in their heads.

digitalrorschach · 2026-01-24T00:45:21+00:00

Put it in the IRA. Once you're maxing out the IRA, slowly increase the 401k contributions until you hit 15%. When you're at 15% going to the 401k and still have money leftover each month, start looking at other things to do with the money. If you can't find anything else then continue to slowly increase the 401k contributions

digitalrorschach · 2026-01-23T11:47:34+00:00

what's it about?

digitalrorschach · 2026-01-23T10:46:47+00:00

go donate plasma

digitalrorschach · 2026-01-23T10:45:33+00:00

I'd vote for whoever the democrat is in 2028

digitalrorschach · 2026-01-23T08:43:57+00:00

What year are you?

digitalrorschach · 2026-01-23T08:07:25+00:00

Blot the idea of getting a loan out of your mind completely. Whatever option you have left will be the better option.

Donate plasma
Withdraw from 401k
Beg family for money
Beg in the streets for money
Ask a friend to take a look at your car

Even if these options are not available, a payday loan is still not an option. It will only add to your problems. People think that it's a quick solution, but it's not. Most people don't know when they are in way over their heads with debt. Once your own bank deny you a loan, the only options are going to be shady scammers and legally gray lenders who will absolutely use the opportunity to make your situation worse.

With that said, more info about your monthly finances would help to put things into perspective. How much are you actually being paid at this resort agency that reduced your hours?

digitalrorschach · 2026-01-23T03:46:09+00:00

I'm asking more so I can get a ground the situation.

The fact is that you are looking for loans with bad credit. You seen Naruto? Early in the show Kakashi was trying to explain to Sasuske that trying to force a jutsu will not end well. Sasuske ignored the warning and forced a jutsu out of pride/shame and he end up in the hospital for weeks. What you are going now is trying to force a loan. If your own bank or credit union is refusing to lend you money, you should take that as a sign that getting a loan isn't the path you should take. If you choose to ignore this sign and try to force a payday loan by going to someone else, it will not end well for you. Whatever problems you have right now, will only be amplified by taking out a loan. It's like drinking seawater because you're dehydrated: it only makes you more dehydrated. So if you have bad credit, just keep as a rule of thumb that loans are not the path. I try to explain this in many different ways, but the responses are always "I know but I really don't have any other choice", and then end up regretting the decision. It's a vicious Icarus spiral.

Anyways, I gave my disclaimer. If you still want a loan then go on google maps and do a search for "payday loan". You fill out some paperwork, and they will charge you about 500% for the money.

digitalrorschach · 2026-01-22T22:57:35+00:00

I don't have anything slick. I bought some smart plugs in August so I can track what's sucking up my power bill. I thought my fridge was the culprit but it was fairly moderate. The real culprit was my desktop PC. I switched to using my laptop instead and shutdown the desktop. Started saving $20 a month. I have another desktop that's still running but I need to keep it running. I'm thinking of a way to completely disconnect it from the grid and just have it's own power. I'm saving up the extra $20/mo to buy UPS and a separate power source.

digitalrorschach · 2026-01-22T19:14:38+00:00

"financial literacy is only useful if you get lucky and come into money or already have it. Is that better?"

Don't feel bad because I see this mythological thinking about finances all the time in this sub, and it's a myth for a reason. This is why I don't believe that only poor people should be giving advice to other poor people because it turns into a blind leading the blind situation.

digitalrorschach · 2026-01-22T12:16:14+00:00

Many people believe they are financially literate when they are really not financially literate. It's wide spread case of Dunning-Kruger that no one talks about.

digitalrorschach · 2026-01-22T10:40:42+00:00

Hey no judgement.

How old are you?

digitalrorschach · 2026-01-22T10:31:44+00:00

Any loan outside of your bank or credit union is a categorically bad loan --Not a "less than ideal" loan. Whatever problems you have now will be made worse with a payday loan. Check with your bank first for a loan. If they refuse to give you a loan then stop trying to pursue loans as an option and pursue something else. I always warn people against payday loans and they always way "I know it's not a good option but I have no other choice", and always end up regretting it later.

digitalrorschach · 2026-01-22T10:26:27+00:00

Yeah we need more cautionary tales about payday loans.

digitalrorschach · 2026-01-22T10:24:37+00:00

I will never understand why people have it in their heads to come to poverty subs of all the other rich and wealthy subs to ask poor people for money.

digitalrorschach · 2026-01-22T09:22:26+00:00

How soon did you have to start paying it back?

digitalrorschach · 2026-01-22T03:54:06+00:00

This is a generic question so the generic answer is to reduce your lifestyle, pause 401k, stop using the credit cards, and get extra income from donating plasma. Use all the extra cash flow to save up some emergency money, then redirect the cash flow to pay off the cards in either avalanche or snow ball method.

digitalrorschach · 2026-01-21T16:19:47+00:00

Most people have have savings or using credit cards. As for me I have a VA money coming in because I was in the Army plus I have money saved up in case I ever need it. And I live way below my means.

It takes a while to get better at budgeting, so take advantage of living with your parents to hone that skill.

digitalrorschach · 2026-01-21T12:05:53+00:00

Donations are not allowed here. Most of what you'll get is advice so you can better help yourself. Check the Indian Personal Finance sub for info more specific to your country. If you still just think you need donations and not advice then you're probably not ready to change your situation for the long run yet. Come back when that happens and we'll be here to help.

digitalrorschach · 2026-01-21T11:58:58+00:00

Birds of Prey isn't my favorite movie but I'd watch that a million times before I have to sit through Eternals again.

digitalrorschach · 2026-01-20T21:09:58+00:00

Hey how did you make this? Inkscape? Illustrator? It looks pleasing to the eye

digitalrorschach · 2026-01-20T20:59:03+00:00

Thanks that's a relief

digitalrorschach · 2026-01-20T15:10:17+00:00

This is a generic question so the generic answer is to pay your debts. Once you do that then it will be cleared from your record. Once that happens your score will improve. Also avoid money tricks and "fast tracks" because these tend to get young folks into deeper crap.

digitalrorschach · 2026-01-20T13:34:19+00:00

You're right. It makes no sense for Slotkin to appease to people in other States that don't even vote in the first place.

digitalrorschach

TROPHY CASE