skip to main content

Household Finances

Cash 22 situation

15 years ago

What being in a "Cash-22" situation means?

Sort by:Oldest

Comments (9)

western_pa_luann
15 years ago
ummm... do you mean catch 22?

if so----
Definition:
absurd situation or its cause: a situation or predicament from which it is impossible to extricate yourself because of built-in illogical rules and regulations

Never heard of cash 22.
erps
Original Author
15 years ago
Yes probably. I just googled cash-22 and I couldn't get the point. Thanks.
Related Discussions
Does anyone have a good method to secure cash at market?
Q
Comments (13)
I have an old cash drawer from an old cash register. Not just the dividers, but the whole box with a drawer that rolls in and out. it is 6 inches tall about 2 feet by 2 feet square. Most time I have a little bunge strap holding it closed (especially when we are busy). When we don't have customers it is shut. I feel safer with this. With it being that big, it also holds our scales. I have thought about putting a bolt in the bottom of it and then putting a hole through the table, but I haven't thought I needed it. That way the shut drawer is bolted to the table. Also, our market is on the Courthouse square. There are usually 3 or 4 law enforcement vehicles parked near by at all times. The county jail is also there. Not to mention several of our law enforcement officers frequent the market during the day. Jay
...See More
Pay with cash or finance a pool?
Q
Comments (24)
I will warn you now, you got me on my soapbox.... Pay in cash. I was raised, if you can't buy it, you can't afford it. Luxuries are to be bought, not finanaced. In this day and age, that is hard to live by and is not always fun. Not that you are in this situation, but as a society, we live in a "I want it now" world and finance ourselves to our eyeballs. We have friends who make good money, have pools, cars, elementary kids with cell phones, kids closets full of Abercrombie/Limited Too, dirt bikes, boats, etc and they own nothing and make payments on everything. Lending institutions and commissioned sales people (sorry to those of you who are not like this) do not have your financial interest at heart. The more you spend, the more you borrow, it's better for their pocket, not yours. When you are encourage to spend more...run/turn the other cheek. Don't give power to others over your wallet! On our pool build this year (shot-crete on Tuesday), we lacked 15k for paying in cash. All we wanted was 15k loan and based on our FICO (over 800 each) and our home equity, the lending institution ignored the request for the amount at a locked in rate but instead, wanted to give us a 90K credit line with a variable rate. Of coarse, you only pay on what you use but come on! Variable rates go up. And steep sometimes. All these home forclosures all over the country-the majority were variable rates, not fixed rates. I'm sorry, but that is encouraging someone to get into dept. That really chapped our hide. The loan guy was not selling us so his manager came over to hard sell us. It felt so cheasy and slimy. Getting in dept is a huge epidemic these days anyway. Lending institutions are not looking out for you. Don't fool yourself that they are. I say, figure out on paper your absolute monthly expenses with no luxuries and make an emergency fund. That should be your untouchable savings. Do not use up the majority of your liquidity for a luxury. Then, find the money to pay for the pool. If you have to save for another year, so be it. Rice and beans, beans and rice (as Dave Ramsy says) Discipline yourselves to pay a monthly payment to yourself, instead of a bank, to rebuild that account. We ended up cancelling the loan application and cashed in part of an investment. While at first we were tentative to do this, we now feel soooooo good about writing the checks for our build and know that we own it NOW, not in 10-15 years with variable interest rates. My pool will go without pretty lawn furniture this year. I found $5 foldable strap lounges at WalMart. It'll have to do. What I want I need to buy at the same time so it all matches, so I am saving for next year. Ok, I'm off my soapbox.
...See More
Have you ever had a Catch 22 situation?
Q
Comments (7)
Congratulations on graduating! I found the same situation when I tried to apply for NICU position in some hospitals, every time someone with experience got hired over me. I could find something in a bigger city in VA (where a friend of mine works and who told me they hire new nurses all the time) but I didn't want to move. You may end up with a permanent position out of the temp position. When I moved back to NV after not working for a few years that's how I got my first long-term job. It was a temp position but they liked me and offered me a permanent position, and requested the temp agency release me early. They did.
...See More
Catch 22 situation
Q
Comments (45)
Darn. Well, I suppose you know the routine. Self isolate, hope you have all you need or have someone who can do porch drop offs. I don't know whats up with the tests, or why its still so hard to be tested. I thought that was how this is spreading, people not ill enough to know for sure going about their normal routines. Not that you would endanger anyone, that's not what I mean. Keep very close track of your symptoms, report anything feeling at all worse.
...See More
clg7067
15 years ago
It's also a good book/movie. At least it was a good movie when I originally saw it. ;)
chisue
15 years ago
When I read the OP's subject line I thought it was an imaginative way of stating the situation where you don't know where to put CASH! LOL There aren't a lot of good options right now. You can't even beat inflation with a CD or Treasury; the market is a continuing mess; and who wants to even mention real estate?
joyfulguy
15 years ago
Use cash to purchase:

CD/GIC/bond - peanuts for income: below rate of inflation. After-tax (apart from tax-free muni, available only in U.S.) result is *way!* below inflation! Who wants to subsidize the borrower??

Mutual funds - recent heavy drops in price levels, continuing. Manager dines on some of it, annually. Anyone interested in shrinking dollars??

Stocks - pretty well the same game (but there's no fund manager to eat part of the value). Anyone interested in shrinking dollars?

Real estate - the foreclosure rate being what it is ... are prices about to stop dropping any time soon? To say nothing of developing anything resembling an advance!

Gold - purchase, assay, shipping, storage costs ... maybe insurance (if available) ... apply.

Provides no ongoing income.

When you sell ... shipping, assay, brokerage costs apply.

You'd better hope that there's a major advance in price in the meantime!
_________________

Take your choice!

All of the above said ... I generally prefer to own stuff myself, rather than lending my money to another entity ...

... which often produces a better return on it for themselves than I get!

ole joyfoul

P.S. Buy pigs! Each mom produces from eight to about a dozen ... maybe more ... per year.

Howja like them apples? (Pigs like apples, too - in fact, they'll eat darn near anything ... they say that farmers in the midwest used to run pigs and cattle together ... and feed the cattle!). Maybe just a rumour!

o j
turnage (8a TX)
15 years ago
"rather than lending my money to another entity ...

... which often produces a better return on it for themselves than I get! "

I noticed in this mornings news that Bank of Montreal is lending Pilgrim's Pride Corp $365 million to help them through their Chapter 11 bankruptcy filing. At a good rate of return I'm sure.
chisue
15 years ago
Great idea, O.J. Pigs! A cow! Some chickens! Oh, foo, my suburb has already been through the 'pigs' debate with Mrs. Walgreen; no pigs allowed.
joyfulguy
15 years ago
Hi turnage,

That " ... good ..." word that you used seems to me to be one of those four-letter kind.

Like in, ""= ... s/he makes 'good' money at her/his job ..." kind of "good", right?

Sort of like, " ... high ... ", maybe?

One thing for sure - if BMO makes it ... they ain't very likely to share much of it with me, a depositor.

o j
turnage (8a TX)
15 years ago
Hi joyfulguy,

I'm sure Pilgrims is very grateful for BOM's help - the little chickens get to keep eating and lots of people keep working.

I guess when a company goes into Bankruptcy Court, they take the cash at whatever interest rate they can get. But shame on that stingy old bank for not sharing with you.

Related Stories

HOUZZ TOURS Houzz Tour: Rustic Cabin With Dive-In Pond

By Becky Harris

Set on 22 acres and with as many modern comforts as rugged trails, this Montana home is an outdoor lover's paradise

MOVING Tips for Winning a Bidding War in a Hot Home Market

By Christine Tusher

Cash isn’t always king in a bidding war. Get the home you want without blowing your budget, using these Realtor-tested strategies

LIFE 6 Ways to Cool Off Without Air Conditioning

By Mariana Pickering (Emu Building Science)

These methods can reduce temperatures in the home and save on energy bills

DESIGN PRACTICE Design Practice: Start-up Costs for Architects and Designers

By Eric Reinholdt, Architect

How much cash does it take to open a design company? When you use free tools and services, it’s less than you might think

DECORATING GUIDES 9 Stylist Tricks for a Decorator Look

By Christine Tusher

You don’t need to be rolling in cash to pull in compliments for polished, eye-pleasing rooms

GARDENING AND LANDSCAPING DIY Project: Reinvented Party Table

Turn Everyday Items Into Casual-Chic Outdoor Decor

REMODELING GUIDES Have a Design Dilemma? Talk Amongst Yourselves

Solve challenges by getting feedback from Houzz’s community of design lovers and professionals. Here’s how

HOME TECH Why Google Just Paid $3.2 Billion for a Company That Makes Thermostats

By Mitchell Parker

Smart home technology just got a new champion — and everyone is speculating about the reasons

GREAT HOME PROJECTS How to Create a Secret Doorway Behind a Bookcase

By Mitchell Parker

Hide your valuables (or unsightly necessities) in a room or nook that no one will guess is there

HOME TECH 7 Ways to Charge Up and Connect After Disaster

Products and tips for communicating and keeping essential items running till the power's back on

Sponsored

More Discussions

Question about c.d.'s

1