Submitted by jws1300 t3_10oathi in personalfinance
Comprehensive-Tea-69 t1_j6dgy6q wrote
Why don’t you need emergency money?
nails_for_breakfast t1_j6ds74l wrote
"hold my beer"
-OP's car, kitchen appliances, and HVAC system
jws1300 OP t1_j6dzp0y wrote
I think its important to have some liquidity laying around don't get me wrong - but I think for someone with stable income, good credit, ability to borrow from family in a sticky situation, and liquid assets that could be sold, etc, emergency money isn't that important.
FormsForInformation t1_j6gddf8 wrote
Oh no
jws1300 OP t1_j6ht1dv wrote
Guess people forget with a mortgage paid off I would have $1500 /mo immediately going into savings again and whatever interest I was paying would be null.
FormsForInformation t1_j6hu8th wrote
Did you also cancel your car insurance since you’re a good driver?
jws1300 OP t1_j6hxrsk wrote
No, that would be illegal
FormsForInformation t1_j6hxxpc wrote
You can reduce to a bare minimum policy
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