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Old 03-22-2004, 03:03 PM   #4444
taxwonk
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Quote:
Originally posted by bilmore
We sort of live paycheck to paycheck and don't save enough.

Kind of a subjective test, I think.
Very easy objective test, Bilmore. If you were to be out of a job tomorrow, would your mortgage get paid before foreclosure proceedings started, assuming you were unable to obtain new employment? Now, take the cae of a renter. Would said renter be evicted withing 30 days of the first missed rental payment?

Would you be able to buy groceries next month without a paycheck coming in?

Not terribly subjective at all. Take the word of someone who was there several years ago.
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