What would you do with $10,000 cash in a tough financial situation?

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  • #103904 Reply
    USER

      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?

      #103905 Reply
      Ryan

        I 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

        #103906 Reply
        Scott

          1. 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.

          #103907 Reply
          Darrell

            HYSA if I couldn’t afford to lose it or worked hard for it and was “poor”.

            #103908 Reply
            Ryan

              Put it in hysa/ high yield money market for emergencies.

              #103909 Reply
              Robert

                Put it in your emergency fund; and only access it if you do in fact, come across an emergency.

                #103910 Reply
                Bradley

                  Debt, pay it down so you’re closer to not being poor. Set a side some to create some cushion for living expenses.

                  #103911 Reply
                  Kimberly

                    Keep it. Don’t spend it no matter what. That’s how I/we “made it”. I/we collect zeros(in our bank accountS).

                    #103912 Reply
                    Allison

                      Not feel poor anymore
                      Then however you saved that – save a little more and start putting towards education to keep climbing!!

                      #103913 Reply
                      Tyler

                        Want 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.

                        #103914 Reply
                        Brooks

                          If 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.

                          #103915 Reply
                          Maisha

                            How much are you able to save every month to keep building? How much are your monthly expenses?

                            #103916 Reply
                            Bernard

                              what 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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