Comments on: Sometimes, The Best Lessons Learned in Life Are Learned The Hard Way

By: Kate

Kate — Mon, 15 Mar 2010 23:57:04 +0000

Perhaps you should think about “investing” in a car maintenance book or something… and please do yourself a favor and when you need a new left front tire and get the right too (even if there is some tread still on the right one). You should always get at least a matching set even if you don’t get all four.

By: MP

MP — Sun, 28 Feb 2010 15:02:42 +0000

Thanks for the morning entertainment. Being from the north, driving on bald and wearing tires in the winter is an accident just waiting to happen so I contribute every pay into my emergency fund that takes into account precisely these kinds of major expenditures.
The Rat – I’d rather have an emergency stash for these things than rely on a line of credit – sometimes the emergency is a lot more than the average person can handle on their next pay…like the dental work I probably am going to have to get done that will run $1,600. No way I can put that on a line of credit without running it over a few months and paying interest.
And I refuse to pay a cent towards my bank’s annual profit.

By: Bvk

Bvk — Fri, 26 Feb 2010 18:53:59 +0000

man you are the slowest learner out there….

I hope you changed that part of your personality….

the universe was trying to get your attention for a while on this….

By: The Rat

The Rat — Sun, 21 Feb 2010 04:36:58 +0000

@David – In my view, emergency funds are good to have but if you’re debt free and you are utilizing your hard earned dollars for investment purposes (which can be a strategy to increase one’s income), then a simple line of credit that rarely gets used can come into play rather nicely. Instead of a credit card (which can range from 10-18% interest), a lot of line of credits can range around the prime +1 range and that can get you out of a jam until your next pay or income arrives.

I guess it all comes down to personal preference. I would be more inclined to have a 1oz gold bar at home in the advent of a global crisis then have an emergency stash.

By: David

David — Sat, 20 Feb 2010 04:18:54 +0000

Perhaps another lesson here is that one should always have an emergency fund. At any given moment one should be able to fork out $1000 if they have a car or house problem. Building an emergency fund should be one of the highest priorities, and yes it should come before going out to eat at steak houses, even if you have a restaurant.com gift certificate.