Does having an extra $10,000 saved mean much?

15 Answers

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  • 6 months ago
    Best Answer

    Having $10k is much better than having $0.00

  • 6 months ago

    I had TWICE that much saved up once...………..lasted about a week before I had to spend it as a deposit (only reason I saved it) now I'm lucky to have a REVOLVING $200 in there.

  • 6 months ago

    If means you are in better shape then MOST people in the US. It also means you are somewhere around Step 1, for financial security.

  • 6 months ago

    $10,000 saved provides much peace of mind, eliminates many bank charges, allows you to pay bills as they come due without straining your budget, and provides an emergency fund. You can also "make" (as in save) money by shopping sales, and taking advantage of other discounts (pay for a year instead of monthly, etc). Deposit some of that money into Certificates of Deposit (to at least earn a few lattes - lol). say $2,000. Then in 3 months, another $2000. Then in 6 months another $2000. {This is known as "laddering."}

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  • 6 months ago

    It depends on your actual budget, but at least it's better than nothing.

  • Anonymous
    6 months ago

    It should be in a mutual fund earning ten per cent interest.

  • Never
    Lv 7
    6 months ago

    I could live easily 7 months on $10k and 10-12 if I had to.

    (House & car are paid for and retired)

    $10,000 is a heckuva lot better than zero or $5k.

  • ron h
    Lv 7
    6 months ago

    Yes, it means a lot. Looking at those bank statements, you'll think "instead of $100 for dinner with a new girl, I'll put $25 in the bank." And I'd rather have $50 in the bank instead of a shirt I'll wear 1 time." But with $10k, spend some, save some. work to get $25k in the bank in the next couple of years.

    • No Mercy
      Lv 7
      6 months agoReport

      putting money aside and not living your life is THE STUPIDEST way of living your life

  • Ben
    Lv 5
    6 months ago

    Why wouldn't it?

  • Amy
    Lv 7
    6 months ago

    "Extra" compared to what? $110k vs $100k does not make much difference.

    Having $10,000 instead of $0 makes a huge difference. You can handle an emergency like "I got in a car accident, I need to pay for medical care and car repairs while being unable to work for a week." And smaller problems do not become financial emergencies.

    • Jenny
      Lv 7
      6 months agoReport

      In the US insurance has deductibles... Medical deductibles can be as high as $6000 and deductibles on collision insurance can be $1000. That's $7000 right there that you'd have to pay out of pocket even if you have insurance.

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