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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Settlement Date:  1/4/2013  5:11 PM
Author:  xtn Number:  306631 of 312987

I mean yeah, it's subject to market ups and downs, but he could always yank a thousand bucks out of it and have it back into his local account just as fast as some of those other options. So why is everybody suggesting the money ought to be designated as an emergency fund specifically?

Because his investments are untouchable. Did you read that first link I posted? He was in pain, absolutely miserable, but he had to go back to work because he had to pay his credit cards. He was not willing to withdraw the money from his account to pay a current bill.

I doubt that distinction is one of investment account versus mattress envelope. He just doesn't consider being painfully miserable as enough motivation to spend money he already has. Maybe I'm wrong though. Maybe his irrational mind won't allow him to violate some unnecessary code of earmarking. Now that I think about it that seems not only possible but in fact likely. So you are probably right.

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