Paycheck to paycheck: I just don't get it

[krantcents]

"Choice" is not part of her decision! She is a victim of her bad habits. Too many people do not take the time to learn how to deal with money. Her parents are enabling her bad habits and it is an injustice to her. I feel sorry for her future husband, She needs to take control of her life and use the time living at home to save. First she needs to realize she has a problem!

[loansta]

I am 27 yo with almost $200,000 in the bank and put myself through every cent of college...so this behavior blows my mind!! I am speechless with idiots that live like that.

[parafly]

Just playing devil's advocate, but I think there is some generalizing going on in this thread.

I am an avid saver, but there have been several times when I "needed" a pay check to be posted as soon as possible. Some of us simply don't keep a big balance in our checking accounts. I would much rather fund my EF, wife's Roth IRA, and/or my Roth IRA than keep a higher balance in my checking account. There are times when money transfers have been made toward savings, something unexpected occurs, and you need your next paycheck to go through as soon as possible.

[doxie]

I have to agree with parafly. I keep the minimum that I need each month in checking. I'd much rather use a paycheck to pay for an extra expense than transfer money from savings. Even though I have a liquid savings account for such things, if I use my paycheck and then just cut back for a little while, I'll save more in the end.

[cicy33]

You should have told her no and watched her squirm for a bit before finally giving in and allowing her to go to the bank.

I have a friend much like this. He does have his own place, but he still lives paycheck to paycheck. He has no savings and no checking. He gets paid, he spends all his money in a few days, then he is broke again till the next payday. It's sad, but it's his own fault.

Why? and one thing I don't understand is this. It is her lunch time. what difference does it make what she does with it? While I agree she may need money lessons I don't see what the point to doing this is other than to rub her face in it you don't need your paycheck as badly as she does. Some people go to get lunch, some people go to walk during their lunch and some people run errands on their lunch. I just don't understand in reality what was the big deal? The only thing I can think of is perhaps if paychecks aren't normally given out until 5.

[cicy33]

Funny that I read your post today, Steve... because something similar just happened to me. We get our annual supplement check in November each year (it's not really a bonus but just a one-time lump sum that all employees get in November in additional to their normal monthly paycheck). An employee came to me this morning and asked if she could have zero taxes taken out of her supplement check. She would basically get $200 more in her pocket instead of it being withheld for taxes. Of course, she'll eventually have to even up with the IRS when she does her taxes but her rationale is that she needs the money now and will worry about taxes at "tax time". She is an employee within our school system and grosses about $36,000 as her salary which may not sound like a lot but keep in mind that she just works 10 months out of the year with summers off... it amazes me to think that she can't live without an extra $200 right now??

This really has nothing to do with the money issue but had to remark on this. My sister teaches middle school and as you say has summers off. not really! she has to finish grading all the final work after school is done, then generally she does take about a month off, then she begins setting up her teaching plans for the next year. These lessons take a lot of time to get ready. then you have to figure that during those school months teachers work weekends, holidays, everything to make sure papers are graded and such. so when they get to the summer they are usually worn out. not to the money part, I don't know how your school does it but my sisters school pays her for the full year. she had a choice and elected full year paychecks versus school year. true smaller paychecks but steadier pay. I also know that my sister frequently has to provide some of the supplies out of her own pocket as the schools are under such strict budgets. she does deduct this on her taxes tho.

[nick__45]

This really has nothing to do with the money issue but had to remark on this. My sister teaches middle school and as you say has summers off. not really! she has to finish grading all the final work after school is done, then generally she does take about a month off, then she begins setting up her teaching plans for the next year. These lessons take a lot of time to get ready. then you have to figure that during those school months teachers work weekends, holidays, everything to make sure papers are graded and such. so when they get to the summer they are usually worn out. not to the money part, I don't know how your school does it but my sisters school pays her for the full year. she had a choice and elected full year paychecks versus school year. true smaller paychecks but steadier pay. I also know that my sister frequently has to provide some of the supplies out of her own pocket as the schools are under such strict budgets. she does deduct this on her taxes tho.

We all know teachers in most places are negligently underpaid and overworked. For the good teachers, like those I had, it is a busy job and can be stressful. Most of my peers were good kids but I can see some school districts are packed with bad kids that treat teachers like slaves. Considering the importance of early childhood education, I think teacher should get a 30% raise and/or benefit from overtime compensation as cops and fireman. Teachers don't get paid when they grade papers or stay later to help some kids.

It seems that most of the teachers who can etch a decent living from the occupation are under-qualified ones that know how to work the system.

[Joan.of.the.Arch]

It seems that most of the teachers who can etch a decent living from the occupation are under-qualified ones that know how to work the system.

I've noticed we have quite a few teachers on this forum. I couldn't tell you whether or not they are particularly good ones, but I'll assume the best. Then I'll ask you where you get your idea that one can be underqualified but "work the system" to get better pay as a teacher. Where are you getting this impression? Are you a teacher who has seen this happen?