Willow ,'Showtime'
Off-topic discussion. Wanna talk about corsets, duct tape, or physics? This is the place. Detailed discussion of any current-season TV must be whitefonted.
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.
I have a small emergency fund (~1 month's expenses in a high[ish]-yield online savings account), and a "cushion" of sorts in savings at my local bank (in case monthly bills are high, or the car insurance premium is due, etc.), but for the most part, my paychecks (which go into my checking account) are budgeted and every dollar is accounted for.
That's my definition of paycheck-to-paycheck. Just the idea that you need to budget each paycheck and, as a result, you'd be screwed if a paycheck didn't come.
Well, I mean "budget" in the sense of "spending plan" or "financial plan." Like I said, I'm able to throw half my take-home pay at my credit-card debt right now. If I made only minimum payments (which I know is less than desirable), my total monthly nut would be about half my monthly income. That's rent, car, utilities, gas, groceries, CC, etc.
And I include savings and 401(k) in my budget as well -- as a "budget," it mostly exists as a roadmap, not life support. (Wow, THAT was a crap metaphor. I hope you get my general meaning.)
Forgot to pay you????
Actually it was not so much that the theatre administrator forgot, but her boss forgot to get my boss at my real job to sign off on it. I work in a large bureaucracy! The theatre extra money comes in my regular university paycheck, so I had some money, but $500 less than I expected, and $400 less than the bills I had coming out of my account. You should have seen me, because I was just completely speechless.