Are You Living Paycheck to Paycheck?

[shengmei]

Re: Are You Living Paycheck to Paycheck?

I definitely live paycheck to paycheck, but then I am a student. I am not technically in the work force yet.

I am hoping to count my education as part of my "savings"

As soon as I get an employer with 401K, I would contribute as much as I am allowed to.

[disneysteve]

Re: Are You Living Paycheck to Paycheck?

Here's a good profile of a P-to-P person we know. A co-worker of my wife's also has a 2nd job because she supposedly needs the money. The other day, the boss was out sick. This woman spent almost the entire day online and on the phone purchasing concert tickets for her favorite performer. She spent over $900 just on tickets. She also booked several hotel rooms because some of the concerts are out of town. One is in Canada (we live in NJ). I know what she earns at that job, and she certainly can't afford to be spending that kind of money on concerts. Of course, everything was charged to her credit card. I guess that's why she is stuck working two jobs.

[mom-from-missouri]

Re: Are You Living Paycheck to Paycheck?

We kind of do, but its by choice. I am currently a SAHM, supplementing with sub teaching. DH has a very good job, but when we got married a few months ago, and added 3 more children to the house in addition to myself, we decided to allow him to continue to keep aggresively feeding his 401K, stock plans and retirement plans. Sometimes we run real tight--but, should there be a true emergency, it is in savings to dig out. Funny though, we now look at "true emergencies" a lot different than other people do. We also cut on the sodas, koolaid, chips, I do all our own baking and cook from scratch. If I didn't, we'd not beable to live on the same amount he was living on before we merged households.

[BCHGRL]

Re: Are You Living Paycheck to Paycheck?

We budget based on our paychecks; however, we do have a comfy e-fund built up. I don't know if we could survive for years, it probably depends on who lost the job. My job is 95% secure, and my salary is more than twice his. We could make it for 6 mo. if I were unemployed. It would also depend on whether his brother still lived with us and paid 1/3rd of our mortgage. Any longer than 6 mo. and we might have to sell our home.

We lived without my husband's full time salary this summer. We survived PLUS we paid off over $10K in credit card debt. Go us!

[tgavin71]

Re: Are You Living Paycheck to Paycheck?

[QUOTE=Elgin526]

DH's job is 100% secure. I know that sounds imposible, but trust me it's true. QUOTE]

It is the same here with us. But it has taken us 13 years to get to this point. My hubby's job is in critical shortage in Australia. There are only about 25-30 guys trained to do it. His company flies in skilled workers from England to do some of the jobs. That being said we never say never and still live (with some minor luxuries) like he can get the sack at any time.

[beebop25blue25]

Re: Are You Living Paycheck to Paycheck?

Well, we don't now, BUT we're not far from it!! Slowly but surely we're getting somewhat ahead! Thanks to monitoring this site and staying motivated i'm getting our debt under control and have a little left over before the next paycheck comes. My hubby gets paid weekly and I get paid every 2 weeks. I'm making the checks stretch a little bit farther. Our biggest expense is food. We have 5 kids, ages 15, 12, 10, 5, and 3.........and they sure do eat, LOL!!