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Do you live paycheck to paycheck?

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Currently? Yes, I'm a college student with a part time job, so I'm lucky if I emerge at the end of the month with a net increase of more then fifty bucks or so.
Hopefully that will change a bit with my internship this summer, which will pay full time at good wages.

With that said, I do have a flexibility to my work schedule that allows me to support my gaming habits by picking up extra hours at work.
 
No. I'm a saver and tend to make sure I have at least 6 months living expenses put away at all times.

A rarity for a bartender, most of whom spend their tips before they make it home most nights.


DennisK4 said:
No. I am an adult.
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This is certainly an idiotic point of view without knowing others' circumstances.


outunderthestars said:
I also live a humble life with a minimal amount of expenses, which in my opinion is the key. If you're living paycheck to paycheck, and you have a smartphone, high speed internet, cable tv, etc and eat out then you're doing it wrong.
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Having roommates in a big house allows me to enjoy the high speed internet/cable/etc without spending very much at all. It isn't for everyone though.
 
Used to and sometimes had to stretch...recently I have not but I don't save to much. I am pretty stupid with my money but I am working on it.
 
No. I was able to build up a nice amount of savings, which I have invested well.


I also live a humble life with a minimal amount of expenses, which in my opinion is the key. If you're living paycheck to paycheck, and you have a smartphone, high speed internet, cable tv, etc and eat out then you're doing it wrong.
 
Pretty much. I'm newly married, my wife is still in college, and we just bought a new car, so those paychecks disappear pretty quickly.

outunderthestars said:
If you're living paycheck to paycheck, and you have a smartphone, high speed internet, cable tv, etc and eat out then you're doing it wrong.
Click to expand...
Guilty. :(
 
For the past year I have been because I've been making a serious go of photography and post production as a business and I am 100% self funded. Nearly every penny I make that doesn't pay for living expenses has gone into business related costs. It's okay because I'm having fun with it, but it's a risk and there are sacrifices involved.

This year should be better because I now own pretty much all of the gear and software I need from 2011. 2012 will be more focused on advertising and promotion.
 
kind of.

15% of my paycheck goes to a 401k, about 10% goes to student loans, about 50% goes to a mortgage, and the rest goes to utilities and entertainment. sure, i could do less things or cut out extravegencies/hobbies and save a little money, but this keeps me sane. i'm sure it'll change eventually if i have a family or other dependents besides two dogs.
 
No, I put about 20% of my income into some RRSP's

Happyness is making $20 and spending $19. Unhappyness is making $20 and spending $21.
 
Thankfully no. I was fortunate enough to come out of school without any loans to pay off and a car that will last for forever. I am eternally grateful to my parents for this.

Because of this I'm able to save a decent amount from each check even after rent, bills, and living and have a good buffer saved up. I do, however, need to start investing it to make it work for me better than just sitting in an account with 1% interest.
 
No, but I make sure in feels that way.

In reality, I could quit/be fired from my job and not be seriously hurting for close to a year (6 months or so if me and wife are both jobless) . The stress would be brutal though.
 
Kind of? Though I live fairly well and buy a bunch of stuff. But I also contribute to a 401k, ESOP, etc. and have a sizable nest egg that I saved up when I was younger.
 
No. I put anywhere from 15 - 20% in a savings account each month. I probably should look at some other investment options but I'm completely ignorant when it comes to that kind of stuff.

I do have a 401k that I put about 5% of my pay in though. Too bad the company doesn't match anything, cheap bastards.


Edit : I guess by the time I put that money into savings technically I'm living paycheck to paycheck. But I don't transfer that money over to savings until a couple of days before payday. I'll leave myself maybe 50 bucks to use those few days before getting paid again. Works well for me.
 
outunderthestars said:
I also live a humble life with a minimal amount of expenses, which in my opinion is the key. If you're living paycheck to paycheck, and you have a smartphone, high speed internet, cable tv, etc and eat out then you're doing it wrong.
Click to expand...

Dude, sometimes it's good to just appreciate the now too though.
 
The_Darkest_Red said:
Pretty much. I'm newly married, my wife is still in college, and we just bought a new car, so those paychecks disappear pretty quickly.


Guilty. :(
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You would be amazed how quickly you can save up when you cut down a series of a small expenses per month. One sit down and calculate exactly how much you spend a month in non-essential expenses, and then work out ways to reduce that, saving the money. Soon you'll have a really nice emergency fund.

BobsRevenge said:
Dude, sometimes it's good to just appreciate the now too though.
Click to expand...

And if you suddenly get laid off or have another emergency? You can still enjoy the now, you just need to do so by minimizing expenses. When I lived check to check I spent as much time as possible enjoy free entertainment: libraries, parks, public festivals and events, etc. Savings are important, and don't have to come at the expense of recreation.

Tristam said:
I am not that far beyond paycheck-to-paycheck living and I own a smartphone. I pay $25 a month for my phone bill, which is probably cheaper than any landline service, no?
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I don't think many people with smartphones have a $25 phone bill. :)
 
Fortunately no. But I have in the past. Through a combination of hard work and sheer luck (more of the latter I'm sure) I'm financially independent.
 
Yes

Married, 1 kid

Me and wife have Degrees

I have 2 jobs, 1 being 40hrs a week Salary other is part time.
Wife has 1 job 40hrs a week Salary.

We really don't make enough to save on a consistent basis. We have pretty high debt but we pay every bill on time that we get. We live happily.
 
outunderthestars said:
No. I was able to build up a nice amount of savings, which I have invested well.


I also live a humble life with a minimal amount of expenses, which in my opinion is the key. If you're living paycheck to paycheck, and you have a smartphone, high speed internet, cable tv, etc and eat out then you're doing it wrong.
Click to expand...

I am not that far beyond paycheck-to-paycheck living and I own a smartphone. I pay $25 a month for my phone bill, which is probably cheaper than any landline service, no?
 
outunderthestars said:
You would be amazed how quickly you can save up when you cut down a series of a small expenses per month. One sit down and calculate exactly how much you spend a month in non-essential expenses, and then work out ways to reduce that, saving the money. Soon you'll have a really nice emergency fund.
Click to expand...
Yeah, I've been picking over my purchase history quite a lot lately. The biggest area we could save is definitely eating out, but we have gotten better about that recently.
 
Yes. Living by yourself on an average wage (40kish), in this economy is surprisingly and frustratingly expensive. In fact my credit card is always loaded, so the actual paycheck isn't even what I'm living on.

I blame the cost of food and rent. Shit is stupid expensive.
 
The_Darkest_Red said:
Yeah, I've been picking over my purchase history quite a lot lately. The biggest area we could save is definitely eating out, but we have gotten better about that recently.
Click to expand...

My egg really isn't hurting at all but it could be better. I've gotten into the habit of eating out more lately and it definitely adds up, especially since I try to avoid fast food.
 
i got at least a year's worth of rent, utilities and some spending money saved up and i'm hoping to make it at least two years, so no.
 
I have been since I bought my house. Every quarter or so, there seems to be a repair or appliance or situation that requires a grand or so to deal with. Plus I had some medical expenses a year ago that I still haven't been able to pay off. Along the way I became the guy who has 5 grand in credit card debt and still buys games and goes out to eat on the weekends. I always have a cushion of at least one paycheck in my account, just in case things go bad, but that's not enough. Not by a long shot.
 
outunderthestars said:
You would be amazed how quickly you can save up when you cut down a series of a small expenses per month. One sit down and calculate exactly how much you spend a month in non-essential expenses, and then work out ways to reduce that, saving the money. Soon you'll have a really nice emergency fund.
Click to expand...

Yeah, getting an idea of where your money goes is really important. Even just tracking expenses for a week and extrapolating that, then putting in the monthly payments, will give you a good enough idea of where you can trim up.

For me, a surprising sum of money flies out the door at random moments when I do something stupid while drunk. Buying too many rounds, breaking glasses, getting holes in pants, messing up shoes, losing phones/bags/whatever. So... definitely shifted away from that kind of lifestyle.

I tend to be intuitive with my money though. I try to get an accurate understanding of my expenses, but I also don't sweat the small stuff. Frugality is obnoxious.

edit:
outunderthestars said:
And if you suddenly get laid off or have another emergency? You can still enjoy the now, you just need to do so by minimizing expenses. When I lived check to check I spent as much time as possible enjoy free entertainment: libraries, parks, public festivals and events, etc. Savings are important, and don't have to come at the expense of recreation.
Click to expand...

Personally, I have enough money in the bank to be fine for a while. My financial situation is comfortable already, mainly from spending a period living at home and saving up.
 
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