http://ask.metafilter.com/tags/safetynet Questions tagged with 'safetynet' at Ask MetaFilter. Mon, 13 Oct 2008 09:53:06 -0800 Mon, 13 Oct 2008 09:53:06 -0800 en-us http://blogs.law.harvard.edu/tech/rss 60 http://ask.metafilter.com/104114/Paying%2DOff%2DDebt%2Dv%2DSafetyNet%2DSavings%2DGiven%2Dthe%2DNew%2DCircumstances Traditional wisdom suggests that saving money while in debt is a bad idea: you pay hundreds of times more in finance charges on money you owe than you would get in interest on money you save. Under this scenario, your "safety net", at least until you are debt-free, would be the credit lines you are clearing out. However, in a response to a Lifehacker comment I made outlining this traditional wisdom, someone replied that given the financial crisis, companies could then lower your credit limit, regardless of cause, killing your safety net. Given this, is the traditional wisdom now wrong? Over the months to come, is the wisest place for any money remaining after bills an interest-earning savings account, or still towards reducing my credit card balance? If a mixture of the two, what ratio would you yourself recommend? Finally, what would you yourself consider a minimum balance to reach for your safety net, if you felt the traditional answer of six months' salary was, for now, too high a goal to be practically reached? tag:ask.metafilter.com,2008:site.104114 Mon, 13 Oct 2008 09:53:06 -0800 credit creditlimit money safetynet savings stumped WCityMike http://ask.metafilter.com/14460/Social%2DSecurity%2DReform I notice that conspicuously absent from public discussions about reform of the Social Security is imposition of a reasonable system of means testing. The idea whereby wealthy seniors, who don't need social security payments to keep themselves in a comfortable lifestyle, don't collect from the general fund which was created to protect the poor and disabled, seems reasonable to me.<br> <br> Given the alternative solutions of payroll tax increases, elimination of benefits, and/or huge budget deficits, means testing along with Bush's proposed private investment accounts could lead to a win-win social security reform-- one that maintains the traditional safety net for low income seniors and disabled while encouraging savings and investment. What's wrong with this idea? Why is no one making this argument? tag:ask.metafilter.com,2005:site.14460 Wed, 26 Jan 2005 18:17:15 -0800 con cons disables lowincome pro pros safetynet socialpolicy socialsecurityreform wealthy NorthCoastCafe