FlyerTalk Forums - View Single Post - Southwest's Christmas 2022 meltdown - phones, chat shut down, RR points compensation
Old Dec 27, 2022, 7:13 am
  #83  
twitch76
 
Join Date: Feb 2016
Location: San Diego, CA
Programs: Southwest A-List; Alaska MVPG; Hilton Diamond; Avis PreferredPlus; Marriott Bonvoy Platinum Elite
Posts: 911
Originally Posted by nineworldseries
I hope one thing infrequent fliers will take away from this meltdown is that if you can't afford a hotel room for a few nights at a moment's notice, you really cant afford to fly, especially on Southwest. Flying often costs a lot more than the base cost of the fare.
In general, one of the things that Americans don't do well at is maintaining an real emergency fund.

As of early 2022, 56% of American's can't cover an unexpected $1,000 expense out of an emergency fund.
As recently as early December, 50% of Americans have less than $500 in an emergency fund.

There are lots of reasons for this -- and I suspect the sample space in this forum would break the curve. I don't wish to blame or shame any who don't have an emergency fund, because I don't know the economic issues that they are facing. But we live in an economic system that thrives on instant gratification, consumerism, and consumer debt, and so there is little motivation or incentive to support people in efforts to gain financial independence.

All of that to say -- a common rule of thumb is to have 3-months of expenses saved in an emergency fund. That seems absurdly insurmountable to so many people that I suspect many don't even consider whether or not they have the resources to create a Plan B if a travel plan goes sideways.
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