I think paycheck to paycheck means you have NO emergency fund at all. I, for example, have no savings account, and often, after paying my bills, have only $50 in my checking account, so if something happens I am screwed, have to use credit, or ask my mother for money. That is how I define it, but I guess others could do it differently
ETA: and I guess they do.
My thing is, I live so much paycheck to paycheck that I don't even budget. I get the paycheck and pay bills until there is no money left until I get the next one.
How do multi-CD car stereos usually work? Assuming no CDs in it, does the first CD you put in become #1, the second #2, etc? Or do you have to specify somehow what # the CD is when you put it in?
(Stupid rental car doesn't have an external player input jack </first world problem>)
I would say if you have savings, you aren't living paycheck-to-paycheck.
It's a pool of a set percentage for a small number of people, so to give someone a bit extra you have to take away from somebody else.
I can't believe I'm saying this, but I wish we had that here, because my #2 and I would each gladly give up a small percentage to give our underpaid minion a much larger percentage, but they won't let us! I've offered.
I would say if you have savings, you aren't living paycheck-to-paycheck.
How about if your savings are part of your retirement fund and you'd pay a substantial penalty for early withdrawl?
I think paycheck to paycheck means you have NO emergency fund at all. I, for example, have no savings account, and often, after paying my bills, have only $50 in my checking account, so if something happens I am screwed, have to use credit, or ask my mother for money. That is how I define it, but I guess others could do it differently.
I'm mostly in the same boat. It's how I've ended up getting back into credit card debt this past year.
ETA: Lest anyone wonder how I'm affording a cleaner given this statement, keep in mind that ND and I are not married and don't pool our money. He covers the cleaners.
I would say if you have savings, you aren't living paycheck-to-paycheck.
Yeah, I think of it as someone that doesn't save anything.
But I mostly use it for people who are spending most of their paycheck on necessities.
But I mostly use it for people who are spending most of their paycheck on necessities.
Yeah. Living paycheck to paycheck, if you miss one check, you're screwed, like can't-pay-the-rent screwed.
How about if your savings are part of your retirement fund and you'd pay a substantial penalty for early withdrawl?
Too hard!
Yeah. Living paycheck to paycheck, if you miss one check, you're screwed, like can't-pay-the-rent screwed.
You should have seen me panic because the theatre forgot to pay me in December. After I did all my Christmas shopping, and had no money in the bank. I had set up payments on my bills to come out on the 31st, and there was no money! The administrator ended up giving me $500 out of her petty cash fund until they could cut me a check.
the theatre forgot to pay me in December
What a nightmare! I mean, seriously. Forgot to pay you????
Yeah, living paycheck-to-paycheck has an element of terror that would be negated by any savings.
