How Broke is broke?

[Aliantha]

If we can't pay our bills we're broke. I don't think I've ever been truly broke in my life. I've always had enough to pay my way, although there was the time a friend got married in Bali and I considered myself 'too broke' to afford the trip, but then his mother decided I had to go so she paid my airfare and accomodation. There were extenuating circumstances then though. It was not long after Mum died, and his mum was my mum's best friend and in her mind I was there taking my mum's place. Anyway, that's a bit of a waffle.

[Pico and ME]

I've never been broke enough that I couldn't pay my bills, but I've never been much over that either (until recently). I wouldn't have the faintest idea what it feels like to be broke because my balance just went below 10 grand. I think Clod has it right...no money and no job equals broke.

[Cicero]

Look at me.

That is broke and pissed. lol

[ZenGum]

As the rich Tomcat said ... If I ain't broke, don't fix me.

Actual numbers are hard to give because so many things vary. I have no dependants and no mortgage, so I don't need so much.

To be not broke I require:
* some kind of dependable income that equals or exceeds my minimum needs.
* at least one pay-period worth of money in the bank at the end of each pay period as "padding" or insurance against cashflow interruptions.
* some kind of savings against sudden needs - fixing the car, etc.

Being unable to save for retirement etc does not count as broke.
Being forced to dip into savings and investments for unexpected bills is a danger sign but it does not count as broke. Dipping for living expenses is an alarm bell but does not count as broke.

Right now I am doing better than ever before in my life, but the further I get from broke, the greater aversion I seem to have towards it.
When I was young, a few hundred left over in the account the day before payday seemed like plenty. Nowadays I want a few thousand. And I always have a stash of long-life food in a cupboard somewhere.

[kerosene]

I have been at the state of being so broke that I had to decide between gas and groceries. Those were the 8 dollar a week grocery budget days. I have also been broke enough to afford neither groceries nor gas and overdrawn by 700 dollars.

These days, I consider us to be very rarely broke. We pay all our bills and usually have enough extra to go out to eat once in a while.

I still can't imagine considering <10,000 broke. I hope I live to see that for our family. It might not be until 10,000 is the cost of a loaf of bread, though.

[Juniper]

"Broke" just means you can't afford to buy whatever it is you need/want to buy at the moment.

It also means I don't want to lend you five bucks, whether I have it or not.

[Tulip]

Broke is when you're in deep shit of debt.

[Stress Puppy]

My 'comfort' level and my 'broke' level are two very different things. I am 'comfortable' when I've got a couple/few hundred in the checking account after having paid bills and put a couple hundred into savings accounts. I live fairly minimal. Supporting someone on a single income we usually manage to put at least $400 a month away, pay all our bills & groceries, and still have a couple hundred left over after every pay check.

As for how broke I've been. Well. I'm a little spoiled. When I was scraping bottom on a regular basis, I'd end up calling my parents for help. I've, therefore, never had to decide between food and gas. But having to ask for money from my parents on a regular basis pretty much destroyed my self esteem at the time.

[Sundae]

Sorry, I put a whinge in this thread where I didn't mean it to be.
I went away from the 'puter, came back and mistook the thread I was in.

Okay.

For me, broke is nuffink.
No money in the bank, no credit or debit cards, no chequebook. Zero, zilch, nada.
Broke means you can't get on a bus, can't buy a drink if you're out and thirsty, can't do anything other than walk home if it starts raining, can't buy your favourite magazine and can only shrug at people who say, "spare any change please?"

Saying that, if you have people who love you, then you still get fed, still have a hot shower and still have internet access. It's not all bad.

[monster]

broke, dunno. Never got there. I'd say when you have to sell something you truly care about in order to survive. Bank balance is irrelevant. we've had huge overdrafts as students, but they were free/cheap and we paid them off before they got seriously expensive. I didn't count that broke. It got tough at times, but I did pretty much every type of manual labor there is and we made it.

[DucksNuts]

My comfort level and *broke* level are very different.

I have money squirreled away in several different accounts, which are my *rainy day* and back up accounts.....so in real terms I am never broke.

I get uncomfortable when my everyday account gets below 1k, and I start watching what I spend.

When I was footloose and fancy free with no dependants or obligations besides rent and beer, I wouldnt care if I didnt have a dollar to my name the day before payday, and that was the norm.

But now, very different. Being unemployed for nearly a month has made me tghten my belt and watch what I spend.

I dont think I have ever been Broke in my life, I have always had a job and an income, I havent always lived within my means, but that was my choice.

[busterb]

Broke! When I worked construction it was always chicken or feathers. But I alway kept up my credit, so not to worry. Once while drawing $25 bucks a week unemployment I ate lots of chicken necks with rice and used the necks 2 times. When I had my health I never worried about money or work.
While waiting for my SS I was really broke. City turned off the gas. I did odd jobs for $5 buck per hr. sold lots of things and was sober.
Now I live on my SS and get by. What me worry?

[Stormieweather]

Broke is having nothing on hand, no one to lean on, no assets to cash in and nothing coming in. Otherwise, you're not broke, you're just short on cash at the moment.

I've been broke. So broke I was half-starved and passed out on the sidewalk. Broke is eating an onion as your main meal, because that's all you have. I've been nearly broke, and pinched pennies until they squeaked. Went to food banks, drove miles to save a few dollars on a bargain, and bummed a place to sleep from a friend for a few days.

God willing, I never end up in that sort of situation again.

[bluecuracao]

When I was much younger, I had been completely broke, whereas I had no money, no job, and no home (resulting from bad moving choices leading to a bad breakup, blah blah blah.) Somehow, at my most dire moment, fate stepped in and I was called back to DC for a job, and two friends needed a housesitter one right after the other. Talk about lucky. Lived on pasta and greens, and lost 60 pounds. I did come out of it looking better and feeling like I'd accomplished...something, but not having solid ground to stand on for that long does something to you.

However, all that was a cakewalk compared to facing no income, yet having a mortgage to pay for. Being on the brink of foreclosure--twice--had been the most stress I have ever encountered. When you have absolutely nothing, you have more freedom to move around. But when you have this one thing, you fight tooth and nail for it; because if you lose it, you'll be right back at square one with little chance of getting past it again.

[meph]

Originally Posted by bluecuracao

However, all that was a cakewalk compared to facing no income, yet having a mortgage to pay for. Being on the brink of foreclosure--twice--had been the most stress I have ever encountered. When you have absolutely nothing, you have more freedom to move around. But when you have this one thing, you fight tooth and nail for it; because if you lose it, you'll be right back at square one with little chance of getting past it again.

This sums up part of what I'm about to say. If having no money (that's what this about, right?) doesn't keep you from being happy and you're not starving, then you're not broke.

Of course you'd have to have no possessions or responsibilities. Even when I was broke and making 137 bucks a week, I did have a roof over my head and my bills were paid. But if my plumbing broke down I couldn't pay for the parts to fix it and I certainly couldn't pay for someone to fix it. I also had bills for electric and water so those had to be paid.

So it's down to what you need the money for and how you view debts.

I'm reminded of one of those TV preachers (Reverend Ike) who had someone crying about a huge bank debt coming due in a few days and he could lose his business. He told the guy that he didn't have a problem, the bank did.

But when you have freedom to make your own decisions and can afford (and I dont mean this in strictly monetary terms!) to make your destiny as you wish, the money isn't the primary impetus.

Being stuck in a dead-end job with no prospects scares me more than being broke. I can always go someplace and make more money.