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How do people live paycheck to paycheck?
Posted on 11/19/21 at 1:43 pm
Posted on 11/19/21 at 1:43 pm
A recent poll says over 50% of US households live paycheck to paycheck. How in the hell do people not have the ability to save even 5-10% of their earnings and put them in a rainy day fund? Sad statistic and shows how people are so incompetent at handling their money.
73
Posted on 11/19/21 at 1:44 pm to theronswanson
quote:'
How do people live paycheck to paycheck?
credit cards and government handouts
Posted on 11/19/21 at 1:44 pm to theronswanson
I mean as long as you don't need savings, you can live without it.
Posted on 11/19/21 at 1:45 pm to theronswanson
quote:
How in the hell do people not have the ability to save even 5-10% of their earnings and put them in a rainy day fund?
bro, have you seen the price of truck nuts these days?
Posted on 11/19/21 at 1:45 pm to theronswanson
By spending everything they get/financing things they don’t need.
In prairieville all of the custom truck places advertise financing plans and what not, same with furniture and electronics places.
In prairieville all of the custom truck places advertise financing plans and what not, same with furniture and electronics places.
Posted on 11/19/21 at 1:46 pm to theronswanson
And people do it even if they make 6 figures. All it takes is spending more than you make.
Posted on 11/19/21 at 1:46 pm to theronswanson
They don’t.
Posted on 11/19/21 at 1:47 pm to theronswanson
I don’t understand how people can sleep at night without a couple months worth of expenses in the bank... ESPECIALLY if you have kids or other dependents
Posted on 11/19/21 at 1:47 pm to theronswanson
Because I don’t make much money?
Save as much as I can, but unexpected expenses always get to it
Save as much as I can, but unexpected expenses always get to it
Posted on 11/19/21 at 1:48 pm to theronswanson
Great question. I have no idea how people do it
Posted on 11/19/21 at 1:48 pm to GreatLakesTiger24
Idk. Most people don't make all that much money. 50% of American housholds take home less than 50k per year.
This post was edited on 11/19/21 at 1:49 pm
Posted on 11/19/21 at 1:49 pm to theronswanson
Car notes, mortgage, private school, other shite.
Posted on 11/19/21 at 1:50 pm to theronswanson
Because the average American is an unmitigated disaster.
Posted on 11/19/21 at 1:51 pm to theronswanson
Gotz to stay in front for the new iphones every year.
Posted on 11/19/21 at 1:53 pm to JohnnyKilroy
quote:I get that it’s hard out here, but take a second job or really rough it for a couple months in order to save a couple thousand
Idk. Most people don't make all that much money. 50% of American housholds take home less than 50k per year.
It shouldn’t be too hard for an adult or Two to scrape together 10k
Posted on 11/19/21 at 1:53 pm to theronswanson
I'll be honest here. I do. Biweekly I take home $1300 after taxes. But at the end of the month I also get a VA disability check for $3000+ which goes right into retirement/stock market. I don't touch my disability money. So with that being said, there are times that I do live paycheck to paycheck after paying bills and all.
I also have to admit that my ole lady makes over $200k a year.
I also have to admit that my ole lady makes over $200k a year.
Posted on 11/19/21 at 1:54 pm to theronswanson
It’s sad to hear. Got to be quite stressful as hell. I really can’t imagine it.
Posted on 11/19/21 at 1:54 pm to Oilfieldbiology
quote:
By spending everything they get/financing things they don’t need.
For some that's true, but some people are just given a tough hand in life and it doesn't matter how hard htey work they just can't pull themselves out of the cycle.
Good friend of mine was born to a single parent home who was never supportive. She still worked her arse off and struck out on her own as soon as she could but could never really land a career that's going to pay a whole bunch.
Then she got married to someone she really cared for but he ended up being a POS and doing some terrible things behind her back.
She did the right thing and removed herself from the situation and got a divorce. Now she is doing everything in her power to take care of her kid whom she loves.
Long story short. Born in a bad/unsupportive family, works her arse off, does everything she can to take care of her family. But I just don't see how she'll ever be able to get out of the "paycheck to paycheck" life. And trust me. She wants to.
This post was edited on 11/19/21 at 1:56 pm
Posted on 11/19/21 at 1:54 pm to theronswanson
quote:I assume most people who live paycheck to paycheck are living that way because they are poor and not because they make terrible financial decisions with the money they do have.
How do people live paycheck to paycheck?
Posted on 11/19/21 at 1:56 pm to theronswanson
I've always tried to live under the idea of living paycheck to paycheck. I do it knowing that I have resources to help in an emergency. By that I mean I put the maximum amount in my 401(k) which I could cut back, and I put a certain percentage away in my stock account which I could always cut back. I never touch those. But, in my budgeting mind I’m always living paycheck to paycheck. What I take in (after savings and 401k) is what i need to live on.
This post was edited on 11/19/21 at 1:58 pm
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