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If you were poor and had $10,000 in cash that you saved up sitting on a table in front of you, what would you do with it?
If you found yourself in a difficult financial situation and had managed to save up $10,000 in cash, sitting right in front of you, how would you use it?
Would you invest it, pay off debts, start a business, or take another approach?
What factors would influence your decision, and how would this money impact your immediate future and long-term goals?
RyanI would invest it into a career that would lift me out of being poor. Trade school, education program, nursing certificate, anything that would give me more means to save more
Scott1. Educate myself to accelerate wealth accumulation.
2. Create an emergency fund in a hysa.
3. Pay of high interest debt.
4. Invest anything left over.
5. Go get another $10k.
DarrellHYSA if I couldn’t afford to lose it or worked hard for it and was “poor”.
RyanPut it in hysa/ high yield money market for emergencies.
RobertPut it in your emergency fund; and only access it if you do in fact, come across an emergency.
BradleyDebt, pay it down so you’re closer to not being poor. Set a side some to create some cushion for living expenses.
KimberlyKeep it. Don’t spend it no matter what. That’s how I/we “made it”. I/we collect zeros(in our bank accountS).
AllisonNot feel poor anymore
Then however you saved that – save a little more and start putting towards education to keep climbing!!TylerWant to keep being poor and have an emergency fund that will be wiped out with the first emergency you have?
Then listen to 90% of these people’s advice.
Want to change the trajectory of your life so you combat being poor?
Use it as training for a high skill OR use it for all bills for the few months while you start in a high paying sales career.
BrooksIf I had $10,000 in front of me I wouldn’t be poor? Lol.
I’d probably use it for an active business to generate an extra $100,000 in side income, the.Continue my business scaling while potting 50% of it into retirement savings and growing the business income.
$10k cash is a pretty solid amount, probably don’t even need all of it for the business.
MaishaHow much are you able to save every month to keep building? How much are your monthly expenses?
Bernardwhat age? Get a car, gat a job like plumber/electrical. Do an apprenticeship.
Paid to learn, set up your own business in 5 years
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