Would you consider 3k in your bank account pretty much broke?

Question

WhiteSteve · Accepted Answer

I don’t know about “broke”, that’d vary according to expected income vs expected expenditures. Also, your checking account doesn’t tell your whole story of wealth.

That said, these days, $3K doesn’t go as far as it used to. Also, it would depend what your savings look like. If you get hit with an unexpected significant expense, like car repair, are you paying out of your checking or your savings? If you’re going from checking, suddenly things are looking tighter. And it depends on your age and lifestyle. If I was under 18, I’d think I was ballin’ out of control on $3K😂 At 45, I’m not sweating quite yet, but I’d be counting my pennies, if it were my situation.

Static_In_The_Attic · Accepted Answer

Would you consider 3k in your bank account pretty much broke?

Everyone has to start somewhere & if you have three thousand in your bank account you are not broke however if you have a zero balance in your bank account that is another story. If you are not doing anything with the 3k go down to your bank & talk to them about opening a short term Certificate Of Deposit (CD) for about 4 months to make a few dollars off of your dollars. If you open up a CD don’t forget when you file your taxes you will have to pay taxes on the money you make from the CD.

Set a 10k goal for yourself.

Apple1996 · Accepted Answer

Not for a under 18 year old. Right now at my age yeah. 3k could easily get blown away for a random car or house expense

Nikki1989 · Accepted Answer

I would go into total panic mode if my bank account was that low.

Summeroflove · Answer

You’re under 18 so not really for someone whose a adult then yeah ir would be low. At least with that money you can pretty much do what you wanna do when you wanna do it.

Red_Arrow · Answer

No. Keeping a lot of money in the bank is wasting it. I have money in various funds that pay a lot more than banks. They are diversified and I can move them around at any time. The money in banks is mainly in checking accounts that I use for paying bills and immediate purchases with cash and debit cards.

Tarifa · Answer

As long as you have enough to pay for a couple of month's rent and plenty of food on the table, I wouldn't worry.

It all depends if at your age you live alone, share a flat, live with your parents, have a job, a car... and a girlfriend expecting you to pay for certain things :)

MittParekh15 · Answer

That's a bit low amount, one should keep a decent amount for emergency / unforseen expenses

Unless the person is an investor and has most of the investment in liquid assets which can be redeemed in a day

Telekinetic-Potato · Answer

Yep. But don't worry because you're still doing better than I think about a quarter of Americans so congratulations.

morganherrel · Answer

For an independent adult who has to support himself and potentially others as well... yes, that is broke.

For a guy in his 20s to have 6 figures in the bank (after all debt is repaid), then he's doing well.

KostasKouvalis · Answer

"K" is $1000, right? I wouldn't say broke yet, but if you have bills and rent to pay and other stuff, it's maybe only gonna last a couple months, so I hope that you have a job.

exitseven · Answer

No, but it won't keep you afloat for very long. According to popular opinion most Americand could not handle a 500 dollar emergency.

NamerOfStars · Answer

Not at all; that can keep you alive for YEARS if you handle it right.

OlderAndWiser · Answer

Not for someone under 18.

jamesgoldman · Answer

Cheque must have cleared, I'll get that money out if there ASAP

Ladsin2 · Answer

Nope. I'd consider myself doing decently if I've gotten all my debts paid off and 3k in checking. That's when you can start to build for something.

Tomisworthless · Answer

I would feel like a millionaire. Most I've ever had was 4k at once but it was taken nearly from me for fines bills and expenses.

Anonymous · Answer

I would now. But not at your age. He'll I had less in my mid 20's

Emsabmud · Answer

depends on what it started from and how much and how often it gets replenished.

Avicenna · Answer

Yeah

ProbablyClueless · Answer

Low, but not broke.

DrPepper12 · Answer

As in all the liquid cash I had? Yes 💯

LiamJHayden · Answer

For me, yes. For a minor, no.

zagor · Answer

Not at under 18.

MK1997 · Answer

No that can keep you alive

RedInnocent69 · Answer

No. Especially not you had more coming in.

OddBeMe · Answer

Depends what bills you have.

power_wolf · Answer

not at your age

Arod823 · Answer

Yes broke

Jmmmfi4 · Answer

LOL... YES

Would you consider 3k in your bank account pretty much broke?

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