Quote:
Originally Posted by whitev70r
I must say that I am surprised at the personal damage economically this is causing in such a short time. Shutdowns, lay offs have only been weeks, not even months. In terms of personal finance, what happened to the wisdom of having 2-3 months of cash for a rainy day. This is that rainy day.
I'm actually finding myself spending a whole lot less so the emergency fund should last 3-4 months, I mean it's paired down to rent, groceries, hardly anything on gas (so low anyhow), ICBC (cancelled on the other car), no going out to eat (saving lots).
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You're a responsible person, many others are not and either live paycheque to paycheque and/or on heavy credit living beyond their means.
This is really going to weed out those people, and unfortunately bailing them out will be on the backs of the responsible ones like you and I.