how do people make it today. on there income.?

Answer 1

My wife and I (38 and 34) did live paycheck to paycheck until we started budgeting every month. When we saw what we are actually spending and blowing on frivalous items because we thought we deserved it, we changed our tunes. Now, we have a nice little savings and toys are not as important as we thought they were. Brand names mean very little any more unless it is on sale. A few months ago, I lost my job and I didn't have a nervous break-down over it because we were prepared. The biggest changes we made was getting rid of all credit cards, and writing down and agreeing on a monthly budget before the month begins. I wish everyone could understand this. I live in an adequate house, and we drive cars that are 3 years old and paid for and I will always remember those days of worrying whether or not a check that I haven't written will bounce before I can get the money in the bank. I hear my co-workers complaining all of the time and they live in houses they can't afford in trendy neighborhoods and drive cars that are always a step away from repo.

I guess that this is my plea to everyone to please start living on what you make. Our grandparent's common sense ways are still valid and timeless. Don't fall for the immediate pleasure you get from buying items on credit. You will enjoy your toys and much more if you save and pay for them.

Thanks for indulging me.

Answer 2

man I want to know the answer to that question I just read an issue in the Toronto Star it was about the working poor, they highlighted on a minority family of 4 and how the wifes income in TO was like just under $14000.00/yr she made almost $1200.00 on her own and then benefits including child tax credit and National Childrens Fund kicked in just enough to pay her $800.00/month rent buy groceries and pay the rest of her bills...I understand her plight . I live in Northern Ontario my mortgage is $1000.00/month plus all the extras to go with it and anyone who owns a house knows what I mean plus I still have 2 of my 5 children living at home (the older 3 are grown up and have their own families) up until 2 years ago our family fammined through poverty, welfare was denied to us because we owned a house and my husband had a job making a whopping$10.00/hr; I was busy taking care of 2 young children and couldn't afford daycare so that I could go to work so every week we tried to scrape enough money together so that our children wouldn't starve...Did the government or anyone try to help us out...NO!...Our son has Asthma so bad that we nearly lost him several times but we were given no medication support relief and no food vouchers because you have to be on Welfare to recieve those benefits...I say its a sorry day when hard working people make less money then people on
Welfare. We could have sold our home, moved into a low-rental apt or house called Welfare and had a cheque the next day iincluding food vouchers and paid medications but then what would that have said about us. Since that harsh time my children are 13 and 8 and are capable of spending a couple hrs alone both thier dad and I work less then 5 mins away we make a little more money now but it doesn't seem it has gotten any easier, just trying to catch up what we had missed before...but we are True Canadians born and raised... we will perserver

Answer 3

By living within their means. It can be done. Stay away from credit cards and borrowing money, period! Constantly work towards increasing your income (new job, education, second job, etc.) Buy necessities and save for things you want. Find ways to cut expenses (carpool, coupons, take your lunch, cut off your house phone and just use your cell phone, etc.) If you can constantly work towards increasing your income and decreasing your debt and expenses, this country would be a lot better off!

Answer 4

What works for me is no credit card balances and living within my means. Everything in moderation. One TV is enough, turn off lights in unused rooms, keep the thermostat at 68 and wear long sleeves, listen to the radio instead of buying CD's--get the picture?!

Answer 5

BUDGET... spend every dollar of your income on paper before you receive it, including savings and investments.

If you can do that, then you'll make it on your income and not run up any debt.

Answer 6

By the skin of my teeth.Before I moved in with my boyfriend,I lived off of oatmeal and tunafish.It sucked.It seems that the cost of living goes way up,but the wages barely increase.And when the wages increase,so does the cost of living.Something does need to be done about it.People work their butt off just to barely make ends meet.

Answer 7

A lot of people CAN'T. They use credit to buy groceries, and other necessities. My husband and I refuse to get a credit card. When we want to buy something we set aside the money, like $25 out of each of our checks until we can buy it.

Answer 8

Spend less than you make.
Distinguish between wants and needs.
Save money to buy "toys".
Don't get caught in the name brand game.
Make due with what you've got and don't upgrade constantly.

Answer 9

Depends on what their income is and what their expenses are.

Answer 10

They rob Peter to pay Paul.