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saxitoxin wrote:Where is BBS/Fruitcake? Does anyone remember the phrase we're supposed to use to summon BBS into a thread? It's like "Zawo Zawo BBS, Appear Now!" or something like that, I think.
Army of GOD wrote:I live paycheck to paycheck but my paycheck is 0 dollars
Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice. I know more then a few people who can't hold onto a dollar if their life depended on it, it actually does burn holes in their pockets, and many people are too lazy to stretch their dollars out or look for deals or negotiate rents and bills and services or simply refuse to go without HBO-Showtime package and the HD upgrade.
Every time most of us get an opportunity to get ahead, we instead up our services/consumption. It also makes sense in an economic environment where the savings rate cannot even outperform inflation, so who wants to hold onto money anyways right?
natty_dread wrote:Do ponies have sex?
(proud member of the Occasionally Wrongly Banned)Army of GOD wrote:the term heterosexual is offensive. I prefer to be called "normal"
saxitoxin wrote:The Bankrate survey says "paycheck to paycheck" would include someone who had 5.5 months of cash on hand.
In other words, as I understand it - and I could be wrong - a person making the median income of $52,000 would be considered living paycheck to paycheck if they had $24,000 in their checking account and $240,000 in non-liquid assets like securities in an IRA and home equity. IIRC, Dave Ramsey recommends 4 months + $1K of emergency money but anything beyond that should be invested and not held in cash. So a person following Ramsey's advice would fall in Bankrate's definition of paycheck-to-paycheck.
Where is BBS/Fruitcake? Does anyone remember the phrase we're supposed to use to summon BBS into a thread? It's like "Zawo Zawo BBS, Appear Now!" or something like that, I think.
Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice.
Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice. I know more then a few people who can't hold onto a dollar if their life depended on it, it actually does burn holes in their pockets, and many people are too lazy to stretch their dollars out or look for deals or negotiate rents and bills and services or simply refuse to go without HBO-Showtime package and the HD upgrade.
Every time most of us get an opportunity to get ahead, we instead up our services/consumption. It also makes sense in an economic environment where the savings rate cannot even outperform inflation, so who wants to hold onto money anyways right?
Nobunaga wrote:76% of Americans apparently are living paycheck to paycheck.
http://money.cnn.com/2013/06/24/pf/emer ... index.html
That's amazing to me.
Woodruff wrote:Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice. I know more then a few people who can't hold onto a dollar if their life depended on it, it actually does burn holes in their pockets, and many people are too lazy to stretch their dollars out or look for deals or negotiate rents and bills and services or simply refuse to go without HBO-Showtime package and the HD upgrade.
Every time most of us get an opportunity to get ahead, we instead up our services/consumption. It also makes sense in an economic environment where the savings rate cannot even outperform inflation, so who wants to hold onto money anyways right?
Sure, all of that is true, in my opinion, as well. The difference is that I don't necessarily think that's a bad thing for those who choose to live that way, as long as they're not putting themselves into debt doing it (which is a very different matter). Is it a risky proposition? Absolutely. But if they're in a career where it doesn't matter because either there are massive numbers of similar jobs available (fast food, etc) or their job is highly specialized and not overflowing with workers, then it's not even so risky really.
The Voice wrote:Living this way has taught me how to balance a budget, which is something that I would've never learned otherwise. Refusing to go without HBO-Showtime? Hell, we don't even have basic cable...or even a Netflix subscription. That's just one example (of many) of how we save money. I would consider my job pretty safe (small business in IT, owner likes me, etc.). Also, both my wife's dad and my parents would be in a position to be our safety nets should the worst happen.
saxitoxin wrote: ... the median income of $52,000 would be considered ...
nietzsche wrote:Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice.
Up to that point it was accurate, except they don't waste it, jut decide to spend it in whatever they like in the moment.
Phatscotty wrote:nietzsche wrote:Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice.
Up to that point it was accurate, except they don't waste it, jut decide to spend it in whatever they like in the moment.
that's waste if you ask me. That fly-by-night attitude can only be enjoyed at the expense of the future. when all of a sudden you get a flat tire or miss a day of work on your check, if you have a rich mommy and daddy to give you/borrow you money, then I can understand all that. Many do not have that option though, and they are either forced to learn the value of money and how to manage it as best they can, or they give up and prescribe themselves a victim, and that can justify a lot more bad decision making other than "living in the moment"/surrendering to every impulse.
Woodruff wrote:Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice. I know more then a few people who can't hold onto a dollar if their life depended on it, it actually does burn holes in their pockets, and many people are too lazy to stretch their dollars out or look for deals or negotiate rents and bills and services or simply refuse to go without HBO-Showtime package and the HD upgrade.
Every time most of us get an opportunity to get ahead, we instead up our services/consumption. It also makes sense in an economic environment where the savings rate cannot even outperform inflation, so who wants to hold onto money anyways right?
Sure, all of that is true, in my opinion, as well. The difference is that I don't necessarily think that's a bad thing for those who choose to live that way, as long as they're not putting themselves into debt doing it (which is a very different matter). Is it a risky proposition? Absolutely. But if they're in a career where it doesn't matter because either there are massive numbers of similar jobs available (fast food, etc) or their job is highly specialized and not overflowing with workers, then it's not even so risky really.
Phatscotty wrote:nietzsche wrote:Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice.
Up to that point it was accurate, except they don't waste it, jut decide to spend it in whatever they like in the moment.
that's waste if you ask me. That fly-by-night attitude can only be enjoyed at the expense of the future. when all of a sudden you get a flat tire or miss a day of work on your check, if you have a rich mommy and daddy to give you/borrow you money, then I can understand all that. Many do not have that option though, and they are either forced to learn the value of money and how to manage it as best they can, or they give up and prescribe themselves a victim, and that can justify a lot more bad decision making other than "living in the moment"/surrendering to every impulse.
PLAYER57832 wrote:Phatscotty wrote:nietzsche wrote:Phatscotty wrote:many people who live paycheck to paycheck waste most of their money.
For many I think it's a life choice.
Up to that point it was accurate, except they don't waste it, jut decide to spend it in whatever they like in the moment.
that's waste if you ask me. That fly-by-night attitude can only be enjoyed at the expense of the future. when all of a sudden you get a flat tire or miss a day of work on your check, if you have a rich mommy and daddy to give you/borrow you money, then I can understand all that. Many do not have that option though, and they are either forced to learn the value of money and how to manage it as best they can, or they give up and prescribe themselves a victim, and that can justify a lot more bad decision making other than "living in the moment"/surrendering to every impulse.
I see, and if working and saving mean you STILL don't have the money for that major repair or illness, then what?
At some point, people just need to make more. That "point" is now. Expecting people to survive on $7.35 an hour is not a joke, its a tragedy.
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