When everyday expenses keep rising and your income remains stagnant, it can be more difficult than usual to build up your savings. On top of that, increased daily expenditures may mean that paying down any debt you're carrying could be a slower process.
Do you have much left over at the end of your pay period or are you living paycheck to paycheck?
Celestina
L'Wren Scott
Casual Club
It sucks.
It never used to be like this until gas started eating up all my money.
1I always make sure that I fully fund our retirement plans, kid's college fund, emergency savings fund (and still pay our bills, of course!)....then whatever is left over is....well, not much!
2luckily my husband is the saver in the family. he finds tons of money to save with each paycheck. I make a lot less than him and without him would live paycheck to paycheck for the most part. But not entirely... I still have automatic savings set up.
3I live paycheck to paycheck depending mostly on my electric bill. With all the fuel surcharges and inflated prices during the winter months my bill can almost triple (upwards of $300) then I'm living as well as I can without getting the electricity cut off. During the summer months (when my bill is usually as low as $60) I find that I have a LOT more money to live comfortably and less stressfully, but usually all that new found money is spent paying off debts accrued during the winter months
4Anything leftover from my paycheck after bills goes towards paying down my credit card debt.
5credit card debt sucks!!!! all my $$$ goes towards it...
6As a graduate student, I'm just happy to not be in any debt at all! Living more or less paycheck-to-paycheck (I manage to scrape up roughly $100 for savings each month) is a-okay with me, since I have no educational loans!
7Hell no. I have a better business mind than that.
8technically some months I do and most months I don't. But I do keep a little stash in case times get a little too bad. I don't even think about using it unless I absolutely have to.
9Nope, I do not live paycheck by paycheck. I save more or less half of my paycheck each month. I am rather frugal. That isn't to say I don't indulge myself ever so often. After all, I dine out 2-3 times a week and have a bi-annual shopping spree. Still, nothing beats the sense of security you feel when you have money in the bank to cover you in emergencies such as job losses, car accidents, etc.
10I have money transferred into my ING savings account monthly to ensure that I'm putting money away. I also contribute to my Roth IRA monthly, and once I'm back in a job, I'll contribute to my 401(k). I probably could afford to spend more money than I do, but I basically spend money on rent, food, utilities, and not much else. My mom tells me I should have a little more fun with my money, but I find it hard to not feel guilty for spending.
11since the death of my father a few months ago, yes we have been sadly.
12I live in one of the most expensive cities in the world, so yes I do live from paycheck to paycheck - I save a bit from each to put into my savings, but that doesn't leave much after my rent is taken out as well!
13My savings contributions (401(k), IRA, standard savings account) are automatic, so I don't have the choice to put them off. And I put as much as I can toward my credit card debt. Which means some months I end up pretty skint at the end. Describing it as paycheck-to-paycheck is depressing, but I guess that's what I am ...
14Some months I do some months I don't. I am a temp and I get paid weekly but with the price of gas and food skyrocketing it's hard. I am doing the best I can and so far I am staying afloat.
15With utilities, gas and food going up, I have less and less money every month. Now that I'm going back to school, I have to figure out how to save enough money so I can pay for textbooks and the extra gas to go back and forth to class (groan). Everything is going up besides my paycheck:(
16with everything on the rise, yes we live paycheck to paycheck but that is expected when you are new couple just starting out.
17Yes, sad but true. I am in the process of looking for a second job instead of consulting on the side.
18I live paycheck to paycheck, but I do put 10-15% into my 401K every paycheck so that's my savings. Unfortunately, we can never get ahead, I have $4000 worth of unexpected dental work last year and I've been off ever since. I'd love to get back in the groove and actually save some money. It's a goal.
19There are months that I have to stretch out one check until the next payday and other months I can literally save my whole paycheck. I guess is depends on the expenses during that time. Recently, my car needed some major repairs and I had to tap into my savings for that. Since I've eliminated a few credit cards and working towards paying off the last one then I'll be able to save twice as much and not worry if my next paycheck will be enough to pay the bills.
20We are strict budgeters. And part of the budget is for savings ... 401K, IRA, etc. Once everything else is taken care of (bills, mortgage, groceries, gas, insurance, etc.) we put anything extra left over into our mortgage. We're trying to pay it off as soon as possible. Some months we pay the minimum, but we always try to add on some even if it's just $50.
21unfortunately i am paycheck to paycheck. which is mostly my own doing- i went on a bit of a spending spree for a while there. but i do contribute to my 401k every month and i always make sure i do the max roth contribution each year- so i'm not completely spending everything. i just have much savings. and that is mostly a result of the 400 bucks a month i pay in gas now!
22Ok, so I'm in a bit of a strange situation. Back when I was living in Canada I saved LOADS of money and used for travel...and to move to the UK (where I am currently based). After moving here I did have a little travel fund, but that's been dried up and now I'm actually in a bit of debt! I'm dying for my UK tax refund to come so I can pay off my credit card and start afresh. I am living paycheque to paycheque here, but I have some Canadian savings if I fall on really hard times. I don't want to rely on it though.
23No I do not
24I don't make it enough to cover medicine, rent, gas, bus tickets, the random $500 plane ticket home to see my parents for Christmas/other holiday, car maintenance, contact lenses, dentist (I have no dental insurance) and food. By the time I want to go clothes shopping... I'm all spent.
25my boyfriend's whole check goes to the bills, while mine goes to savings; honestly, it's more than comfortable.
26I'm living paycheck to paycheck mainly because of debt i got into for someone else. They stopped paying it off so now i have to shell out an extra $200 a fortnight. At least half of that would normally go into savings...
27I'm totally addicted to saving money! More than 50% of my income goes to savings right now (we live in a bad neighborhood, but hey, rent is cheap!). I got fed up with living check to check when I was a grad student and I don't think I could ever stomach it again.
28I do live check to check. I am not saving anywhere near what I want either. On the same note, I need to be much better about budgeting. Also, I've had some expenses I wasn't planning, like having to buy a new car. I am young, but need to start saving into a 401(k)/IRA. My dad just bought me the "Frugal Living for Dummies." I need to take it to heart!
29Yep, and to whomever said "hell no, i have better sense than that" realize that people who are have different reasons for being in that position instead of being so freaking condescending about it.
30We're not, but gas prices are cutting into how much we can save.
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