What do you consider living "Paycheck to Paycheck?"

[mzkhadir]

I live paycheck to paycheck because of the Hot Deals section.

 

[iversonyin]

Paycheck to paycheck means once you stop working, you would be desparately looking another way to pay for your expenses.

 

[Tifababy]

I'd consider myself living paycheck to paycheck, because I save too much (according to my fiance). I put about 15% into my 401k and 5% into company stock and about 10% into my ROTH IRA. So in the end, I'm only able to put about $100/month into savings which is easily accessible (I can take money out of my ROTH or 401k, but with a huge penalty).

But once we decide to have kids, then I can reduce the amount I'm saving and have more cash.

 

[FoBoT]

paycheck to paycheck includes not just a tight cash flow, but little or no liquid emergency fund cash/assets
debt may or may not exist

the main point is that missing more than 1-2 paychecks will put you in a SERIOUS financial bind, that is living paycheck to paycheck

 

[Anonemous]

Originally posted by: mzkhadir
I live paycheck to paycheck because of the Hot Deals section.

ditto! j/k. I avoided the hot deals forum for almost 3 months now. Just couldn't resist that bestbuy deal.

 

[Raspewtin]

Originally posted by: LeadMagnet

Originally posted by: Dacalo
As long as you live in the US, you will live paycheck to paycheck no matter how much you make. As your income increases, so will your debt.

Ahmen to that, - but it's just not in the US. I'd say any developed nation.

I think it's cultural. Japan is a developed country and their recession was prolonged partly b/c of their lack of spending.

 

[drum]

Originally posted by: Anonemous

Originally posted by: mzkhadir
I live paycheck to paycheck because of the Hot Deals section.

ditto! j/k. I avoided the hot deals forum for almost 3 months now. Just couldn't resist that bestbuy deal.

the bad news is that the new AT extension for firefox makes it even easier to get to hot deals!

 

[mugs]

Originally posted by: Dacalo
As long as you live in the US, you will live paycheck to paycheck no matter how much you make. As your income increases, so will your debt.

I disagree... you could have a huge amount of debt (mortgage) and yet have enough liquid assets to sustain yourself for a year or more. I wouldn't call that paycheck to paycheck.

Now, I know of someone who bought a $2 million house, but had to wait a few months to have some work done inside it because they couldn't afford it. That's probably paycheck to paycheck. (and insanely stupid)

 

[Baked]

Originally posted by: Dacalo
As long as you live in the US, you will live paycheck to paycheck no matter how much you make. As your income increases, so will your debt.

No, that means you have zero knowledge of personal finance. Go take some free courses.

 

[tami]

Originally posted by: mugs
Now, I know of someone who bought a $2 million house, but had to wait a few months to have some work done inside it because they couldn't afford it. That's probably paycheck to paycheck. (and insanely stupid)

i'm confused. how would having work done inside it save them money? isn't "work" considered a cost?

 

[CTrain]

God damm, everyone of you got this "paycheck to paycheck" thing wrong.
If you don't have enough money for a monthly prostitute visit, you're definately living paycheck to paycheck.

 

[revnja]

Do you pay rent, etc? You're right when you say $250 isn't a lot in Alaska. Kind of depends where you are. In Anchorage, there are ways to stretch your money, but here in Valdez, no way.

 

[mugs]

Originally posted by: tami

Originally posted by: mugs
Now, I know of someone who bought a $2 million house, but had to wait a few months to have some work done inside it because they couldn't afford it. That's probably paycheck to paycheck. (and insanely stupid)

i'm confused. how would having work done inside it save them money? isn't "work" considered a cost?

They bought the house, wanted to have additional work done inside after it was done (services the builder did not supply), but could not afford it.

 

[aplefka]

When people don't donate $100,000,000 a month to me.

 

[AbAbber2k]

I consider living Paycheck-to-Paycheck making about ~450 a month, out of which 430 goes to bills/food. *sigh* One more year of college.