Do You Find That You Have Money To Spend Between Paychecks...or Do You Live Paycheck To Paycheck?

Question

I read a news article that said many Americans are in the latter group, and live paycheck to paycheck. Thankfully, lately, i've been managing to make my money stretch, and last in between my pay periods; however, that's not always been the case. What about you?

Answer 1

When I was a lot younger I used to spend all of my money except for a small cushion (anywhere from $100 to $1,000) that I kept in my checking account.

As I grew older, I began to realize that one day I was going to retire and that was going to require some serious cash because I wouldn't be in a position where I would be able to just go out and earn it if I needed more money.

And so I began to save ... I started small at first with no change in my lifestyle. As that grew, I began to feel more secure and that affected the decisions I made with spending. The more secure I felt financially, my desire to spend money on just plain "stuff" began to evaporate. It was a very liberating feeling.

Saving money can be an enjoyable game. For instance, I buy frozen weight watchers and lean cuisine entrees in bulk when they go on sale for 1/3 or 1/2 off. I keep them in the freezer in the office and I have one for lunch every single day with the exception of birthday or celebration lunches. I keep crystal light or other drink mixes at work and use the water from the cooler. My total lunch cost averages around $2 a day, when before it was unthinkable that I would spend less than $6 or $7 on lunch every day. The first time I noticed how quickly that savings added up was after the first 3 weeks or so when I went to make my regular Friday ATM withdrawal and realized that I didn't need more cash because I still had $60 in my wallet.

You have to live below your means in order to save. Most people don't. Many people realize too late that the time to save money was when they were still making it ... not when they become disabled or are senior citizens.

I honestly think that money management and basic investing should be taught in high school because far too many people these days are growing up in households where extreme credit card debt and poor money management skills are the norm. If no one teaches them, they will learn the hard way and we all pay when that happens.

Answer 2

I've never lived paycheck to paycheck, ever, because I never bought what I couldn't afford to own - never carried a credit card balance, so any "crisis" I had in my life didn't put me behind the 8 ball in 30 days.

Look at the generation before us - very few bankrupties or money problems - it's because, in the 1960's and early 70's, people didn't have credit cards - either you had the money, or you went without.

Answer 3

Even i was living like same paycheck to paycheck but now it has got changed from couple of week. I started worrking online in my extra time to make some extra cash and able to generate $600 on an average

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Answer 4

Most times i have money left from each pay week, I only buy what I need , the rest is put away if I do need especially in an emergency..

Answer 5

I am living paycheck to paycheck at the moment....just like most citizens....

Answer 6

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Answer 7

Mine lasts.