- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Monthly income vs expenditures
Posted on 8/19/24 at 9:23 am to RandySavage
Posted on 8/19/24 at 9:23 am to RandySavage
So my work paycheck disappears after child support and monthly expenses.
My extra money is my VA benefits check every month. I sure do appreciate Uncle Sam being my baby daddy
My extra money is my VA benefits check every month. I sure do appreciate Uncle Sam being my baby daddy
1
Posted on 8/19/24 at 9:33 am to RandySavage
quote:
What is considered paycheck to paycheck?
If you are not putting anything into savings or investments and your checking account balance is not going up as the month goes on you are living paycheck to paycheck
Posted on 8/19/24 at 9:35 am to RandySavage
I try to save 20%, which goes into 401k, Roth IRA, other investments, emergency fund and a car fund (I buy used and pay cash). That system used to work fine but it has become almost impossible with record inflation. The choice I have now is save or have a life outside of work. It sucks. I've still been saving at the expense of everything else but I'm about to scrap that plan and live for me. If I'm still alive and financially screwed in my 80s, so be it. What's the point anyway if you can't enjoy life when you are still relatively fit and healthy?
Posted on 8/19/24 at 9:38 am to RandySavage
I typically deposit around $8k in my brokerage account every month.
That doesn’t include 10% going into 401k.
Also doesn’t include my annual bonus every year which is 30-40% of my salary I deposit straight into my brokerage account.
That doesn’t include 10% going into 401k.
Also doesn’t include my annual bonus every year which is 30-40% of my salary I deposit straight into my brokerage account.
This post was edited on 8/19/24 at 9:59 am
Posted on 8/19/24 at 9:38 am to RandySavage
It varies. I budget off of 4 paychecks a month but 4 times a year we get 5 paychecks, 2X a year )or more) we get bonuses. It could be a few hundred on a shitty times of 5-6k on a well timed month. I budget in investing, so it is usually just "savings" money, but I also budget that in automatically when we get our direct deposits each week.
I also get some nice overtime shift offers sometimes, and just picking up an overtime weekend can add $3k to the monthly intake.
I also get some nice overtime shift offers sometimes, and just picking up an overtime weekend can add $3k to the monthly intake.
Posted on 8/19/24 at 9:38 am to RandySavage
We put $2k/mo or so into generic savings after retirement, etc. We need to start actually doing something with that besides a savings account. Guess I’ll add that to the list.
We don’t really budget separately for groceries or household, so our miscellaneous entertainment/shopping and groceries are all kind of lumped together. It’s hard to say how much is truly extra (like buying shite for fun), but we could easily cut out another $1500/mo if we needed to.
To me, paycheck to paycheck is when you have very little left a few days before the next pay day, and not much savings to fall back on. Like if your car needed a $2k repair 4 days before pay day and you can’t cover it. Not “I don’t have much discretionary money left until pay day because I’ve saved a significant amount or budgeted to the penny.”
We don’t really budget separately for groceries or household, so our miscellaneous entertainment/shopping and groceries are all kind of lumped together. It’s hard to say how much is truly extra (like buying shite for fun), but we could easily cut out another $1500/mo if we needed to.
To me, paycheck to paycheck is when you have very little left a few days before the next pay day, and not much savings to fall back on. Like if your car needed a $2k repair 4 days before pay day and you can’t cover it. Not “I don’t have much discretionary money left until pay day because I’ve saved a significant amount or budgeted to the penny.”
This post was edited on 8/19/24 at 12:09 pm
Posted on 8/19/24 at 9:41 am to RandySavage
quote:
What is considered paycheck to paycheck?
If you are unable to pay for (without borrowing) all of your expenses in the event the next paycheck doesn’t come, you’re paycheck to paycheck. Basically, do you have savings or not.
This post was edited on 8/19/24 at 9:42 am
Posted on 8/19/24 at 9:43 am to notsince98
quote:
If you are not putting anything into savings or investments and your checking account balance is not going up as the month goes on you are living paycheck to paycheck
This is called treading water, unless you also have no savings at all as a cushion.
Posted on 8/19/24 at 10:03 am to RandySavage
Around $1,800. That's not including entertainment(which we don't do much of these days). I usually save $500+ a month but my kids and wife like to spend and I'm not a hardass. I'm actually learning more about investing so I know where to put my money. I have a good retirement, I put in 9.5%, they match 15%.
Posted on 8/19/24 at 10:10 am to RandySavage
While married, it was always close to paycheck to paycheck. Some months she’d spend a mere $2k on “stuff” and other months it was closer to $6k. Because the nine year old MUST have a $90 manicure for dance, blah blah.
After divorce, I *act* like I’m living paycheck to paycheck, because I’m satisfied acting poor in day to day life. I have my eye on travel, which matters more to me.
After divorce, I *act* like I’m living paycheck to paycheck, because I’m satisfied acting poor in day to day life. I have my eye on travel, which matters more to me.
Posted on 8/19/24 at 10:29 am to RandySavage
I consider paycheck to paycheck if you can’t afford your mortgage/ rent twice in a month.
Posted on 8/19/24 at 10:37 am to fareplay
quote:
I consider paycheck to paycheck if you can’t afford your mortgage/ rent twice in a month.
I’m sure you’re saving at least 50k a month.
Posted on 8/19/24 at 10:40 am to Rize
People do make this much fyi
If your rent is 2k and your making anything less than 4K a month you’re check to check
If your rent is 2k and your making anything less than 4K a month you’re check to check
This post was edited on 8/19/24 at 10:42 am
Posted on 8/19/24 at 10:40 am to RandySavage
With me now paying child support, I have about $450 every month to use as play money, which is eating out and the like. I also save at least $250 a month before going into the extra money. Things are going to be tight.
I went from living with two incomes and no kid to one income and a baby real fast.
I went from living with two incomes and no kid to one income and a baby real fast.
Posted on 8/19/24 at 10:42 am to fareplay
quote:
People do make this much fyi
If your rent is 2k and your making anything less than 4K a month you’re check to check
Should have just stuck with your original stupid post
quote:
If I said I was? Make post tax not save **
Posted on 8/19/24 at 10:43 am to LNCHBOX
News flash, people make different amounts of money
Posted on 8/19/24 at 10:44 am to fareplay
quote:
News flash, people make different amounts of money
That still doesn't make you sound any less stupid and full of shite,
Posted on 8/19/24 at 10:44 am to LNCHBOX
So you think I’m lying?
Posted on 8/19/24 at 10:44 am to RandySavage
I spend a lot of money on my stuff. I'm fortunate that we don't have a mortgage, bills, etc or I wouldn't be able to pay $6k for a woodworking planer.
Posted on 8/19/24 at 10:46 am to fareplay
quote:
So you think I’m lying?
Depends which persona you're using for the day.
Page 2 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News