Curious, how much $$ do you keep in your bank accounts for emergencies, that you can access like today if need be? Some people I know keep like $15-20K or like $30K ... that seems like a bit much. I've had as little as $5K but now about $10K.

Not referring to $$ locked up in investments that you can cash out and take like a few days to see in your account.

Typically between 5 and 15

Seems pointless to keep much more than that in and not invested in TFSA or at least gaining something. Worst case toss emergencies on credit cards, absolute worst case pull out cash advances from credit cards

enough to buy a birkin or kelly in case of emergencies (they just randomly tell you that your shit is in, no warning and youre out 30-100k depending on which one of your "wishlist" items comes in).

This is Revscene you know what kind of answers you're going to get back here :)

How are some of you dipshits so poor? Get out of this forum! Don't need any of this homelessness. Should be illegal here and ship you broke dicks off to Siberia!

Deport!

I get antsy when my balance falls below $10k...

But in reality, I also have a line of credit to fall back on for emergencies.

Poor! Deport! :gtfo:

I have like $100-$200 available usually. Zero investments. I own two cars and some furniture.

Recently built an AI-powered app that makes me $1000 USD for a day's work putting together ad packages for my client with my app and the AI, but I'm improving it at all times so it takes less work and clicks to make that money with.

If I can get back on my feet and have a running vehicle again, really want to see if I can build a smart wrench prototype somehow.

Isn't the general rule of thumb somewhere between 3 - 6 months' worth of your expenses?

Admittedly, my cash reserves have dwindled down to the 2 - 3 months marks after the multiple rounds of major & bigger home repairs that took place, and with my cash flow being pretty poor also, it's gonna take time to build the reserves back into the healthier end.

For now, the back up plan is a LoC. Obviously that is not good, and I hope I'd never have to tap into that.

If you have say, managed investments

What’s the turn around time to pull out from TFSA’s?

Mods - Please change this forum name to brokescene.net

Ok, in all seriousness, my post was meant to be sarcastic and a play on Hondaracer's love of Hungary's policy on homelessness and how it's assumed everyone on here's household income is $250K (which is probably a lot higher now.)

Happy posting! :)

TFSA is just a stamp applied to the money/investment seed money… so it totally depends what you’re invested in? Could be as simple as selling stocks and moving the balance out but if you’re in a timed investment of some sort then you’re at the mercy of that.

I do 1-2 months then LOC for emergencies.

YOUR bank account, not the spy's!

I don't see a huge reason for keeping a large cash reserve on hand. We are all old enough to have a sizable LOC or even a HELOC to pull money out of. Sitting money is either not making you any money, or you could be paying down debts.

I got -20 dollars. She took it all. I make the money and she takes it all and gives me back a lousy allowance.

Only a broke ass schmoe would say shit like this you indentured house slave !!! You’re not on hehes level unless you can throw 50k in a single envelope and drop it like it’s….. hoe?

$$ in my TfSA takes about 1-2 working days to confirm the transaction. Once it is confirmed, then I can transfer to my bank account which takes another 2 days so prob 4 in total at the minimum.

Yes, we all have some sort of credit card max or LoC which prob covers most 'emergencies'. But if I got myself into some $$ trouble that I can't wait 4 days, then I might be in some real deep gambling addiction or I might need help from some RS balling friends.

Keep a float of about 10-15k in our chequing and then another 10 in an interest chequing account.
Have access to another 40ish in unsecured LOC. Really not enough to be comfortable though considering monthly expenses. Another 10 and I’d feel good.

Those with $10-25K in CHQ, can't you withdraw from your $xxx,xxx investment accounts too if worst comes to worse.

With that nest egg, I wouldn't worry much

Most of my investments are RRSPs and such so I’d get buttfucked if I took any money out.

That's what I do, my account fluctuates between 1k and 10k but the amount available in the HELOC is quite large and I can pull from that any time if anything happens. The way I look at it the amount I'd pay in interest on brief use of it is less than what I'd be effectively "paying" by having more cash sitting there not gaining any interest.

I don't keep an emergency fund anymore but I do keep around 40k cash float that's roughly split 50-50 between my chequing account and a number of savings accounts (used to hold funds for property taxes, vacation, and any large 1 time recurring bills). After that I have enough cash equivalents in my investments accounts to cover anything that might come up.

I'm of the opinion that if you've got a fairly sizeable non-RRSP portfolio that you don't need an emergency fund unless you're in pure equities. Selling off stuff like gold or bonds to cover an emergency is NBD.

i just keep 3-5k in my account for whatever, everything else is invested.
any legitimate emergency will allow you at least a couple days to get your money straight.
and tbh if you need that money right now RIGHT NOW bad enough then you can pull from loc or cc.

https://i.imgur.com/pBiYpGu.jpeg
https://i.imgur.com/KIBvPHI.jpeg

White XC90 Plate # PF988V

LG fob bitch keyed my car! Even came back to the scene of the crime to pat herself on the back and document her shitty behaviour.

https://i.imgur.com/77nrAoa.jpeg