Could You Come Up with a Thousand Dollars in Cash Today?

I was talking to a financial planner friend of mine the other day, and one of the standardized questions he asks clients and potential clients is if they had to, could they come up with a thousand dollars in one day for an emergency?

My friend told me that a thousand dollars is the standard payment one would need to use in a last-minute emergency.  If you car breaks down, if a family member unexpectedly dies and you need to buy a plane ticket, if you need a root canal because you shattered a tooth and you don’t have dental insurance — are all examples of moments when you’re going to need to use a thousand dollars.

To complicate the question even more, my friend told me he requires people to make that thousand dollars happen by accessing only cash.  No bank loans or credit cards allowed.

He said 99.9% of the people he meets between the ages of 18 and 31 fail the thousand dollars cash test and that sad fact is terrible and dangerous news for those people and for our economy.  If people don’t have access to emergency cash — basic savings for a rainy day — then we are in dire trouble as a nation.

My friend went on to say only a tiny percentage of his new clients pass that cash test no matter what their age.  A higher percentage could could up with a thousand dollars by accessing a line of credit but, he says, that only adds to their debt and rarely completely resolves the emergency because additional credit debt creates another, larger, future emergency in a month or two when the credit bill is due.

We live in a credit-centric society where cash is no longer king.  We need to not live moment to moment and paycheck to paycheck.  We all need to better plan for a cash emergency that will, inevitably, befall us all.

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David Boles

David Boles was born in Nebraska and his MFA is from Columbia University in the City of New York. He is an author, lyricist, playwright, publisher, editor, actor, director and producer for print, radio, television, film, the web and the live stage. With more than 50 books in print, David continues to write 2MM words a year. He has authored over 25K articles and published more. Read the Prairie Voice Archive at | Buy his books at | Earn the world with | Get a script doctored at | Touch American Sign Language mastery at

7 thoughts on “Could You Come Up with a Thousand Dollars in Cash Today?

    1. A lot of people I know couldn’t come up with $100 cash right now. They live close to the line. Part of it is their jobs, some of it is the economy, and a lot of it is that if they have any extra cash in hand, they’re using it to pay down credit card debt instead of letting the money sit in a bank for some future, undefined, emergency.

      1. Due to some strong training from a very financially centered friend of mine – after 40+ years, and watching my family’s financial ruin by a spriraling (up) line of credit, I decided to change those statistics any way I could. If not that much, close.. It feels good.

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