Do you spend all you earn?

Question

I'm a college student making less than $10,000 a year and I spend almost all of every paycheck. Is that bad? I don't even drive so I don't have a car bill to pay.

Answer 1

as you earn more you spend more - just remember to save some for a rainy day

Answer 2

I did when I was college. In fact, I spent more than I earned and wound up with credit card debt. These days, I have money deducted from my paycheck for 401k, plus a little bit put into a savings account. You should save, even if it's only a few dollars each check. You never know when you might have an emergency or want to buy something that's a little bit above your normal price range.

Answer 3

No, you are not the only one who does it. When I get a paycheck I spend all of it too. It's impossible to save it. Everything is so expensive.
Well I do have car payments, insurance payments and rent. And food, of course.

Answer 4

Nope, I am a saver! :-)

You need to decide what is good or bad for you... since you are a student, it is more difficult. School comes first... Get a good education, then worry about saving. Of course, don't just spend to spend... if you can save, then do it - you will have more if you ever need it! :-)

Answer 5

When you are young, you think of nothing but the here and now. I suppose that is natural. The young aren't supposed to think about aging, or dying. They feel their youth and energy, and they live in their moment. Unfortunately the reality is that this is exactly what it is.... a moment. We do get older, and little health issues start to sneak into the picture. We also slowly lose our ability to bounce back from other set-backs, and start over.
People who go on to have a successful older life are almost always the ones who have recognised early on that they have to start building a strong foundation under them that they will need to support them in the years to come when they don't "bounce" quite as good as they used to, and fewer and fewer people are around to pick them up when they fall and set them back on their feet. The world gets less and less sympathetic to our follies as we get older, because it thinks it's time we should have learned to stay on our own two feet and do for ourselves.
I love the story I heard from my mother as a little girl,,,, about the ant and the "grasshopper gay" (that was back when the word "gay" still had its proper meaning.. happy and carefree). The Spring was springing and the days were warm and wonderful, and the grasshopper spent all her time frolicking across the fields, soaring high into the air, and floating lightly back to earth. Food was plentiful and there were no cares under that warm sun and blue sky. One day Grasshopper Gay stopped to watch an ant, laboriously dragging a small amount of food across the difficult ground into her hole. "Come and play" said Grasshopper Gay "It is much too fine a day to be working so hard" Ant laughed and said "I know, but the days will not always be like this. The winter is only a little while away, and when it comes I will need to go into shelter and must have enough food and supplies to survive the winter" "Ohh, plenty of time for that said Grasshopper. But, suit yourself, I'm off to have fun in the sun". Of went the grasshopper, while Ant went right on working, dragging little supplies of food into her storage place.
Of course, the days did pass and summer ended. Soon the weather began to turn cold and harsh, and to make matters worse, Grasshopper lost two of her legs struggling free from a bird's beak. Lame, slow, cold and hungry, Grasshopper wasn't gay any more. She could not forage for food and became weaker. She would not die soon, but what was left of her life would be spent miserably - the price she paid for wanting to spend her youth and strength just having fun instead of preparing for harder times to come.
Meanwhile, Ant was long tucked up in her underground home, warm, comfortable, and surrounded by a supply of food, so diligently stored away at the beginning of summer when it was plentiful. She could not have helped the grasshopper even if she had come and asked, because Ant had only enough for herself, and, after all, it was Grasshopper's own fault that she had danced away her summertime instead of working a little bit each day, to store up her own supplies.
I like to think there is a very good reason why youth is the time of health, strength, and energy. We need those abilities to work and save and prepare for when things are not so easy. We don't have the right to assume that others will come running to supply our needs, when we should have been doing that for ourselves earlier on. Why should the wise, industrious ant hand over what she worked for and saved, to the frivolous grasshopper who had only wanted to play all summer long?

Answer 6

yes, I spend all that I earn. I'm 20, failed school. no job right now, but I spend the stuff on my credit card. soon I'm down to my overdraft protection. my life is great.

Answer 7

Yes, we live from paycheck to paycheck

Answer 8

lol i will probably do the same thing haha i am the worst spender once i get muh christmas money($500) then i spend it in the next like week lol

Answer 9

I spend all I earn and my wife spends even more.

Answer 10

nope... of the 50% i pay mt tithes first, then my offerings... the rest i pay my bills and i do a little shopping and save a little... "sow your seed today so, tomorrow's harvest will be good"