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Yes I do live paycheck to paycheck and it's horrible Even if I get paid on a weekly basis it's still so hard for me to save a dime. Then here comes my teenager "mommy I need my hair done my nails done my feet done a brand new outfit can I get a pair of new sneakers and shoes as well" Now that's stressful!!!!
Why is that stressful for you?? "No." See, problem over.
I live paycheck to paycheck, i could probably go a month without one, but after that I'm hosed. i voted we live paycheck to paycheck since the OP assumes everyone is in a combined income household and left no options for single people
To e ortega, teens are so much fun... is she old enough to get a job yet? We're tough and made our daughter get her first jb at 15 and she has never looked back. She is a full time college student and covers her gas $$ for the 45 minute commute. Covers all her incidentals and is trying to save. She typically works one job and is a guard instructor on the side.
The second choice is not specific enough. I think a lot of people have some savings in the bank, but how much? Did they vote that option because so far they've been lucky?
Never but I did, actually, for a short period some years ago. Hated it. Right now, I've got around 7,000 USD on my spending account. The next salary (monthly) will be on my account wednesday. Got two other accounts with savings.
No we dont live paycheck to paycheck now but before i went back to college to get my degree I did. For many years I worked low-paying jobs and was broke before the next payday. And what a wonderful feeling is to have money to pay all the bills and save. My DH and I use our first paychecks for all the household bills/retirement accounts. Our second paychecks go into savings/college fund for our son. We bought our first home through a short sale so our mortage is very reasonable for the area we live in. No credit card debt, both of our cars are paid off.
I have been blessed these several years. I used to live paycheck to paycheck but with promotions and increase in pay, it's no longer the case. And I don't spend frivolously, I have money in savings, yet I allow myself the niceties once in a while. Bills are paid and money saved=win
Yes I do live paycheck to paycheck and it's horrible Even if I get paid on a weekly basis it's still so hard for me to save a dime.
I used to be in that situation as well, but I came up with a good solution a few years ago. My paychecks are directly deposited into my account. I set up a second savings account for emergencies only, and have my bank take out $25.00 per paycheck to go into that account. $25.00 may not sound like much to some people, but I have left it alone, and it adds up ! Check with your bank to see if you can do the same. Even if you just start with $5.00 a paycheck, it's better than nothing. The other part is to not touch the money except if it's for an emergency, like a car repair, expensive dental work etc.
Quote:
Originally Posted by e.ortega
Then here comes my teenager "mommy I need my hair done my nails done my feet done a brand new outfit can I get a pair of new sneakers and shoes as well" Now that's stressful!!!!
With the economy the way it is, you should just say no to your daughter. I know it's hard, because you want to give your kids what you can, but it's not always possible. If she's old enough, she should get a part time job so that she can buy her own clothes etc. It will teach her the real value of money, and that it doesn't grow on trees.
With the economy the way it is, you should just say no to your daughter. I know it's hard, because you want to give your kids what you can, but it's not always possible. If she's old enough, she should get a part time job so that she can buy her own clothes etc. It will teach her the real value of money, and that it doesn't grow on trees.
I agree. I got my first job at 16, despite my mom's objections. I think she thought I should enjoy my youth while it lasted or something. I really learned something about money from that experience. I stopped demanding that she buy me fancy clothes after that. I became a lot more independent and responsible. Jobs are good for kids.
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Even if I get paid on a weekly basis it's still so hard for me to save a dime. Then here comes my teenager "mommy I need my hair done my nails done my feet done a brand new outfit can I get a pair of new sneakers and shoes as well" 
Now that's stressful!!!!
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