People are opening up about the exact amount of money that can possibly make their lives easier and some amounts are unexpectedly low.
We often wonder how much money is enough money. People coming from different economic sections of society might answer it differently. For some people, having a few dollars in possession to afford a small meal can make their day better. Others might need more than just a few dollars to pay off their debts and mortgages. In some cases, there are individuals who require a vast sum to pay off their medical bills. So, keeping the importance of money in mind, u/fukdurgf asked an interesting question on the Reddit community which read, "What’s the minimum amount of money that could solve 90% of all your problems right now?" The netizens had a diverse range of responses to this question as they shared the exact amount of money that is capable of solving most of their problems.
I mean, I'm hungry and I don't get paid until tomorrow, so like $20. u/DueAd197. Hey, this is the lowest amount of money in this thread and buying food seems pretty important. Can I Venmo you? u/Finejustfinn. I hope you’ve taken some of these offers up! I’m in the same boat as you, except I’ve got a week to go. My dad’s fighting cancer for the third time and it’s cleaned us out, we have no food or toilet paper. It blows. Take care friend. u/Manaxium
$120,000. Enough to pay off the HELOC and my debt, and pay me to stay home for a year (I have metastatic breast cancer and I am so, so tired). Yes, the "if I can afford it" is the sticking point. We could probably afford it for a couple of years. But what if I’m one of the “lucky” ones who beats the odds and lives another ten years? My cancer is stable and my tumors are small, so despite qualifying, I’m scared to make us poor for another decade or so. u/insertcaffeine.
£10,000 on paying off all debt. £100 to take my dog on a trolley dash around the pet shop. He’s the absolute love of my life. u/DogsBeforeDudes-. Love that your first or second thought was to spoil your dog rotten. I wish I could help you out but I give a small donation to Dog's Trust every year in memory of my mother-in-law and her dog - I'll make sure I throw in an extra few quid in your dog's honor this year. u/hopecomp
Yeah, somewhere between 5 and 10 million is the magic number for most people who should create permanent financial independence without compromising on their lifestyle. It’s roughly annual expenses x 30 (EDIT: actually should be income 30 times more), and you’d need to take the sum and invest it in index funds or similar low-expense and low-risk (over the long term) strategy and only spend about 3-4% of the principal every year. u/bencherry
$7600 medical debt. $4800 credit card debt. $82000 to pay off the trailer in full. I don’t know exactly how much, but maybe around $12000 in repairs and upgrades for the trailer (the siding has some bad spots and the AC unit is from 1998 so it struggles). $106,600 total, so 90% of that is $95,940. u/Rumination0. I have a 960sft house with a basement that's also 960 feet and a 2.5 detached garage with a yard and I'm only paying $760/month for my mortgage, taxes and homeowners insurance. You need to ditch the trailer. No matter how much you pour into it things will only deteriorate. A nice brick home of the same size will last you the rest of your life. u/Extra_Airline_9373
$450,000.u/SAM001v. About the same. Could probably swing it on 300,000 maybe. Any safe house here in Nowhereville is 225000+. 15k for my car would be nice. I probably need about 200k in medical care, but I’m generously assuming a lot would be covered by the 3500 I pay a year in insurance but can’t afford to really use. u/trpclshrk. I came to just under half of this with just student loans and mortgage being paid off in my quick estimates. u/intern_12
Yeah, 5k would do it for me. It'd get me out of the bad vehicle situation I'm in right now. u/LaughterTearsLaw. Literally. I’m driving a 21-year-old Lexus SUV I got when I moved into this spot. It was preowned then. It had like 75k on it. But then about 6 months later my husband got slammed and his amazing Sonata was totaled. They only gave him four grand for it and there was NOTHING here that was safe for less than eight. It was insane. So we got this beater that was 25 years old and I’m hoping it survives. u/CassieeLouu32
There isn't a set amount really. I need a job, not a singular influx of cash. u/Casca_in_Red. Well, I'm sure a singular influx of cash could pay for you to improve some skills to get a decent job while not worrying about bills while you get a degree or certification. u/Mantequila_Stotch. People act like 40k isn't enough all the time. But PASSIVE 40k is such a sweet spot. Assumed 40k after taxes is like a 60k salary. It's enough to remove a ton of stressors, but still get you out of bed in the morning to pursue more - some money, some skills, some adventures. If you have financial competency, you can use it to cover all needs. u/greg4045
A million dollars and even then, it’d only take one major illness or injury to derail my financial stability. u/bhex86. Not if you have a million dollars. Maximum out-of-pocket for a year is capped at around $15k. After that insurance covers 100%. You do have to make sure though that the provider takes your insurance and that your insurance covers those procedures. They all cover the emergency room. u/fenton7
$2,000. Security deposit and first-month rent on my own place so I can get out of this 3/4 house. I'm eight months clean, go me! u/2076186b. Speaking from experience, don’t rush to get out of your 3/4 house. Sometimes we don’t even realize it but accountability and camaraderie are crucial to staying clean. Seen far too many friends in a hurry to get their own place, only to relapse within a year (including myself). Rooming with someone else sober can be great too, but of course, you have to make sure you really trust that person. u/Scoopzyy