Paycheck to paycheck

[Ima saver]

The people that I try to talk about saving money, just don't want to hear anything about it. They think I am obsessed with money; I consider finances to be my hobby. I saw how poor my mother had to live all her life and I don't want to have to worry like she did.

[Broken Arrow]

The people that I try to talk about saving money, just don't want to hear anything about it. They think I am obsessed with money; I consider finances to be my hobby. I saw how poor my mother had to live all her life and I don't want to have to worry like she did.

I really do think that's part of the problem there. People don't want to hear about it because they don't see what the problem is... yet.

But by then, it'll be too late.

[neatdesign]

When I need more I will get more.

When you need more, it will be too late.

I don't mean for this thread to go off on a tangent, but I totally agree with you, Steve. Insurance is to cover the unexpected -- and that by itself is impossible to predict. I'll give an example:

A 31-year-old woman, extremely healthy and rarely gets sick, wakes up one morning and sees that her left jawline looks "squarer" than her right jawline. She presses on the area and feels it's a bit hard, but there is no pain or discomfort. After two trips to her local GP and a scheme of antibiotics does nothing to reduce the swelling, she's finally sent to a specialist. Diagnosis: A paratid tumor -- that is, a tumor wrapped around her salivary gland. It's benign but must be removed or it will continue to grow. The surgery is quite simple, and the entire gland and tumor are successfully removed, about the size of a golf ball. Because she had good insurance, she only ended up paying about $200 for a surgery/hospital bill that was about $18,000.

Unfortunately, it jarred the patient's facial nerves and the left side of her face is completely paralyzed for three months. She cannot chew or talk properly, close her eye or even blink. She had to start seeing an eye specialist because the constant drying out of her left eye reduced her vision from 20/20 to 20/70 in a matter of two weeks. There was talk of having to sew her left eyelid shut but luckily that was avoided. The patient thought she would only be out of work for a couple of weeks but was out for over three months. Luckily she had disability insurance, so she got 100% of her income for half of her time out, and 60% for the other half.

That patient was me. Stuff like that can and does happen, out of the blue, just like that. Trust me, you don't want to be without sufficient insurance when it does. Because by then, it will be too late -- insurance companies don't generally cover pre-existing conditions.

~ Jenney

[Ima saver]

Broken arrow, I agree with you. These people have jobs, but are not saving anything. They plan to live on the land like their grandparents did, with hunting and growing vegetables. They think they can live on their social security.

[mobrep]

They think they can live on their social security.

If there is any left by then.

[kv968]

They plan to live on the land

Or if there's any of THAT left either

[LivingAlmostLarge]

Dreamweaver try getting into a car accident. One accident and you'll be SOL. Then see who will insure you? No one. And worse what if you are hit by a broke driver without insurance? hahaha. The jokes on you. Then you'll declare BK and struggle to survive. Happens all the time.

[rblvstl]

I believe that people live paycheck to paycheck for two reasons.

The first is because they were never taught about finances. I don't think that it is necessarily the schools job to teach our children about checking and savings. I think that parents need to educate their children about the importance of saving, spending and giving. We as parents cannot leave it up to someone else to teach our kids because once they get to college there will be credit card companies set up in their dorms waiting to sign them up.

My husband and I are in the process of digging ourselves out of debt and are currently living paycheck to paycheck to pay everything off. I know that I never want my children to have to go through this .... working two jobs, selling items and such. I want them to grow up and be responsible with their money so that they can live like no one else.

I think the 2nd reason why people live paycheck to paycheck is because they have the want it now mentality. I think society in general believe that because they go to work everyday, that they are entitled to that new car,
shirt whatever. NO one wants to wait until they can actually afford to pay for the items in cash. Just throw it on the card and forget about it.

[dreamweaver]

Went to dinner...and see I hit a nerve with the insurance thing. Disney, I am a nurse...and I make my coworkers nervous, too. Oh well. If it makes you feel better, I do have great car insurance....

[disneysteve]

Disney, I am a nurse...and I make my coworkers nervous, too.

How can you work in healthcare and not see the vital importance of having health insurance? Do you not have any uninsured patients? I sure do, and they struggle to meet even the most basic health care needs. Many of my patients have horrendous teeth, for example, because they have no dental insurance. Something as simple as filling a cavity poses a major financial threat. Many patients can't afford to take their medications. Granted, I work in a very poor area, but problems arise among more well-off people, too. As I said earlier, my wife's emergency surgery last year would have cost us over $28,000 had we been uninsured. We would have been able to pay the bill out of savings, but it sure would have been a big hit to our nest egg. Certainly not something I recommend.

I'm glad to hear you have auto insurance but that is required by law so you don't really have a choice. Would you still carry that coverage if it wasn't mandatory? If so, how does that differ from health insurance? You never know when you will be in an accident just as you never know when you will get sick.

[mekish]

i too at the moment live paycheck to paycheck but that should change as soon as i catch up with my debts!

[dreamweaver]

Disney....I don't know. It is a numbers game....and that is how I play it. I have a lot of reasons to do it this way. I used to do it because I had to. Then I was married with 5 kids between us....still had to and managed to get it done. Divorced with one 16 year old child I went to nursing school, went to work and had insurance thru work. Three years ago I discovered I had a choice of taking my benefits thru the company I worked for....or take the money. I choose the money. Why? Because it works for me. In the raising of 5 kids I can count on two hands the total times ANY of us went to the DR for anything other than immunizations. One broken leg. I broke a vertebre (t spine) that the physician missed...and never called....made me go home AMA without any pain meds because he could.....

So...I sit in an emergancy room. Yeah....most of those people need insurance. Heck, if you think that a centipede running across you without touching your skin is reason to run to the ER, you probably DO need more than me. No lie. Or how about that two day old paper cut the lady called the ambulance for... (no ride to town). Yes, I see sick people. Even brain tumors. Two of those in twelve years. On the other hand, we are causing tumors in children by ct scans of their heads instead of observation. Go figure.

My number game tells me I will get hurt, not sick. Horses hurt you. Skis hurt you. Mountain bikes hurt you. So....that is what I know. I have a mountain bike, last year took up skiing, snorkle when I can barely swim. And every year I walk across the grand canyon with two of my girlfriends....twice. I will probably get bit by a rattle snake. Because that is the MOST likely thing to happen to me.

[flatrock]

"Dreamweaver try getting into a car accident. One accident and you'll be SOL. Then see who will insure you? No one. And worse what if you are hit by a broke driver without insurance? hahaha. The jokes on you. Then you'll declare BK and struggle to survive. Happens all the time."

Im not a fan of insurance companies but I had a terrible accident a few years back. Two vehicles totaled I was knocked unconscious the other driver was injured.
I was threatened with a major lawsuit and the insurance company stood by me and bailed me out. They did not drop me and I took their advice raised my accident limits on my vehicle and purchased an additional umbrella policy. Prior to the accident I always tried to scrimp and lower the coverage to the least possible. After the accident I go for the max and it costs more but I know Im covered if it happens again. If you get involved in a potential lawsuit your insurance is your friend

[Gruntina]

The insurance story reminds me of a friend I had back in college. he did not have health insurance. We were playing ultimate frisbee with a church group one Sunday and he broke his pinky finger(just at the top joint). It ended up being a really expensive pinky experience for him. He had to pay 36,000.00. out of pocket just to have the joint attached again. All that for a pinky!!!

The bill set him back from his savings and downpayment for a house.

[dreamweaver]

I have excellent car insurance. I have huge limits for uninsured and underinsured motorist, with medical and bodily injury. I do drive, and I have seen the idiots. I told you all....it is a numbers game. The difference between benefits and no benefits is a 25% increase in pay at my company. I need what I bring home...without the benefits. So I run the risk.