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Housing and healthcare are expensive. All else can be mitigated to an extent.
I would agree that purchasing standards goods and services are extremely difficult on a fixed budget. Cable, internet, cell phone, day care, food, limited entertainment, gas all add up quickly.
Well, that poster is correct. It is strange that there are people that would rather wait to get paid for the fruits of their labor. Why would anyone want to give their employer interest free loan for those two months (rhetorical)? People with that mindset are the same rocket surgeons that get all excited about a tax refund.
That's exactly right, why would you wait to get a full years pay over 12 months when you could get it over the first 10? Poor discipline
Quote:
Originally Posted by Gene Starwind
That's not what he said. He said people should be taking less frequent checks. 10 over 12. He is the only one thinking that in this thread.
I agree I rather get paid weekly over every 2 weeks and every 2 weeks over once a month
If offered you should take your full year comp in 10 payments in the first 10 months of the year instead of 12 payments totaling the same amount. The only reason you'd opt for 12 payments for the same total amount over 10 payments is poor discipline. You are overreaching to disagree with me when logically it doesn't make sense
I know several people who have very decent incomes but live on the edge. In the cases I know, I believe it is due to their inability to determine between a "want" and a "need." In addition many are raising children for whom they provide every thing their friends have and are unable to say "no" for fear of turning the child against them.
I have a neighbor who lives on the edge. He does absolutely nothing to maintain their home, which is only ten years old, shutters faded, landscape unkempt, etc. Two years ago he bought a $18K boat, which cost him $900/month for a slip and used it six times. This year he bought an ATV which he rides around in circles on his front yard. Bought a screened in gazebo which they set up one summer and a hot tub which they used about 10 times. Constantly complains he has no money. Go figure.
That's exactly right, why would you wait to get a full years pay over 12 months when you could get it over the first 10? Poor discipline
If offered you should take your full year comp in 10 payments in the first 10 months of the year instead of 12 payments totaling the same amount. The only reason you'd opt for 12 payments for the same total amount over 10 payments is poor discipline. You are overreaching to disagree with me when logically it doesn't make sense
It's amazing that you say your statements are logically when they aren't. The fact is the majority of people will take their pay on a weekly basis if offered. I'm disciplined and would prefer it to keep my budget the same month to month rather than having to shift it.
You have to get off this high horse where everything you say, think or do is the right way.
For some 10 checks works but for the majority 12 is preferred. Your assumption of logic is not it's just your opinion
It's amazing that you say your statements are logically when they aren't. The fact is the majority of people will take their pay on a weekly basis if offered. I'm disciplined and would prefer it to keep my budget the same month to month rather than having to shift it.
You have to get off this high horse where everything you say, think or do is the right way.
For some 10 checks works but for the majority 12 is preferred. Your assumption of logic is not it's just your opinion
Your monthly budget shouldn't shift just because you got 10 monthly paychecks vs 12 of a lower amount. If you could get paid your full 12 months salary in the first 10 months of the years that's the choice people should make. The rationale to take a lower monthly check only makes sense if you have trouble managing your cashflow. Just because most people want something doesn't make it the best financial decision
Most posts were never an attempt to suggest what most people prefer as that's not relevant to what the best financial advice is
People's lifestyles tend to expand to fit their budget, in much the same way that if people have closet space empty, they tend to accumulate things to fill that space.
Most people are incapable of taking the extra and saving it. The money is burning a hole in their pocket and they are almost compelled to spend it. I sometimes wonder if it is similar to the concept in government agencies that if you don't spend the budget this year, you won't be given as much next year, so instead of maintaining a surplus, they find something to spend the money on. Doesn't work that way in a normal job, but I sometimes wonder whether subconsciously, some people believe that. Other people just don't understand the concept of saving. Still other people understand the concept and consciously choose to live for today instead of saving for tomorrow.
There isn't one reason that people live that way. There are many.
My mom always says "We are all broke, just at different levels". There is some truth to that.
Your monthly budget shouldn't shift just because you got 10 monthly paychecks vs 12 of a lower amount. If you could get paid your full 12 months salary in the first 10 months of the years that's the choice people should make. The rationale to take a lower monthly check only makes sense if you have trouble managing your cashflow. Just because most people want something doesn't make it the best financial decision
Most posts were never an attempt to suggest what most people prefer as that's not relevant to what the best financial advice is
Again you just can't see the forest thru the trees. Amazing how you feel you can tell people this is the choice you should take. Wow what an ego.
Budgets shift depending on due dates of bills and where they fall to pay periods. If I get paid weekly I follow a schedule based on my due dates and pay dates. Moving to a twice a month pay period I can no longer follow that old system. Especially since I keep minimal funds in a checking account.
Please since you know everything write a book and we will all watch as you fail to sell a single copy.
There really is no hope for you. Keep posting your nonsense.
Budgets shift depending on due dates of bills and where they fall to pay periods.
So long as you don't have a reserve built up for known (and surprise) expenses.
Which is the point of the thread...
If you know the monthly rent and utilities and groceries will add up to $X...
then you need to have that $X plus a margin on hand.
It's no more complicated than that.
otoh... if you have obligated yourself to pay more than you can afford to... you'll never get ahead.
Start by depositing all income (paychecks etc) into a savings account.
Periodically transfer enough for the monthlies once a month to checking and pay them.
Keep the rest in savings until/unless...
Again you just can't see the forest thru the trees. Amazing how you feel you can tell people this is the choice you should take. Wow what an ego.
I can tell you to taking the most money you can as quickly as you can makes the most sense especially when delaying some of the funds produces no greater amount received. If your personal preference is to go around the most sound financial advice you can and I never said you couldn't. It has nothing to do with ego
Quote:
Budgets shift depending on due dates of bills and where they fall to pay periods. If I get paid weekly I follow a schedule based on my due dates and pay dates. Moving to a twice a month pay period I can no longer follow that old system. Especially since I keep minimal funds in a checking account.
A monthly budget shouldn't really change unless you have one off unexpected expenses so the monthly budget should be static and playing with the frequency of paychecks doesn't really change that
Quote:
Please since you know everything write a book and we will all watch as you fail to sell a single copy.
There really is no hope for you. Keep posting your nonsense.
You should use the ignore functionality if I bother so much
So long as you don't have a reserve built up for known (and surprise) expenses.
Which is the point of the thread...
If you know the monthly rent and utilities and groceries will add up to $X...
then you need to have that $X plus a margin on hand.
It's no more complicated than that.
otoh... if you have obligated yourself to pay more than you can afford to... you'll never get ahead.
Start by depositing all income (paychecks etc) into a savings account.
Periodically transfer enough for the monthlies once a month to checking and pay them.
Keep the rest in savings until/unless...
This is spot on. If my employer would have offered to pay me my entire comp 1/1/17 I would have jumped at it instead of getting 24 paychecks. I have the discipline to be able to pay my next 12 months worth of obligations as my monthly budget wouldn't have changed one bit
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