Friday Five: It has been a long time since I have done a Friday Five, but I found one on a web site today so I though I would post it here as well.
1. How much money is in your wallet right now?
$40. Just went tot he ATM and am going to try to make this $40 last through Monday night...which means it needs to buy lunch tomorrow, maybe dinner tomorrow, movie on Sunday night, a drink after the Alumni Association retreat on Monday.
2. How much money would you need in the bank to feel secure? Rich?
I am very blessed in that I feel secure no mattter what because I know my parents could/would help me if I needed help. That being said, I would feel most comfortable if I had $4,000 in the bank. (I don't) To feel rich (as in don't need to worry about where I go to eat, where I travel, what I spend) I would want $30,000 in expendable savings. To feel like I am a rich person, I would need $1 million.
3. If someone gave you $100, no strings attached, what would you do with it?
Save it for a really nice dinner when I am out in Palm Desert (not that $100 would pay for the entire meal, but with an extra $100 I would go to a fancier place.)
4. If someone gave you $1 Million, no strings attached, what would you do with it?
Oooo...that's just not fair to hypothesize. I would...
- put $600,000 away immediately in some "smart" investment strategies
- pay off my credit cards
- give a few friends $20,000 each to put toward their student loans
- buy a bed room set and a new couch for the living room
- take several friends out for a fancy and great dinner at one of Boston's nicest restaurants
- go to Germany and New Orleans
- buy a new suit and a few other items of clothes
- put $5,000 away for a trip somewhere next summer
- put $200,000 in a saving vehicle to buy a single-family house in a year, when there is no penalty for selling my current place
- see question 2...put the rest in an account for use in the "rich as in don't need to worry about where I go to eat, where I travel, what I spend"
5. How much does something have to cost before it starts counting as "real" money, as a purchase to be considered and evaluated, but below which you'll buy without really thinking about it?
Around $20.