Current Events > Who here lives paycheck to paycheck and is barely surviving?

(+) Yeah! (+)

Here. Basically impossible to save other than a modest retirement contribution or for the kids. Over the year we slowly accumulate debt and then I try and catch up with it with our tax refund.

HudGard posted...

Here. Basically impossible to save other than a modest retirement contribution or for the kids. Over the year we slowly accumulate debt and then I try and catch up with it with our tax refund.

You should talk to your employer about adjusting your withholding. Ideally, you'd owe a small amount rather than give the government a zero interest loan.

I eat only 2 meals a day.

BewmHedshot posted...

You should talk to your employer about adjusting your withholding. Ideally, you'd owe a small amount rather than give the government a zero interest loan.

Im aware. I prefer it this way.

CRON posted...

I've been struggling to find a job while also dealing with my own physical and mental health issues

damn. hopefully it turns for the better soon. one of my relatives had the mental issue that impacting him for a long time until managed to land a job. has goals now to get an RV at least to have electricity again.

RV is better than being homeless.

BewmHedshot posted...

You should talk to your employer about adjusting your withholding. Ideally, you'd owe a small amount rather than give the government a zero interest loan.

For a lot of us we don't give a shit about giving the government an interest free loan. The effectively forced savings account year after year helps tremendously.

HudGard posted...

Im aware. I prefer it this way.

FolkenRawr posted...

For a lot of us we don't give a shit about giving the government an interest free loan. The effectively forced savings account year after year helps tremendously.

If you're going into debt as a result of over-withholding, that probably hurts more.

I have a great career while living in a small town in the midwest where things aren't extreme expensive as other regions yet.

BewmHedshot posted...

If you're going into debt as a result of over-withholding, that probably hurts more.

Okay

FolkenRawr posted...

The effectively forced savings account year after year helps tremendously.

agreed. big purchases. pay down bills. it's all good

R1masher posted...

I grew up poor and it had taught me to live below my means

This is my case too. Most people call me cheap or if they are nice. Frugal.
[LFAQs-redacted-quote]


My family has a history of cancer. My father passed away from it last year. His older sister when I was younger. My cousin's brother who was in his late 30s/early 40s. My sister has beneign cancer all over her body and is regularly screened. This means my family is high risk than the next. Way to win the lottery.

Will_VIII posted...

It was a quick search but globally it's less than 1% if you're under 50.

Most people are gonna live longer than 50, and even then 1% sounds too low.

While one's individual risk varies, the average lifetime risk for cancer in the US is around 40%.
https://www.cancer.org/cancer/risk-prevention/understanding-cancer-risk/lifetime-probability-of-developing-or-dying-from-cancer.html

Canada expects 43-44%:
https://cancer.ca/en/research/cancer-statistics/cancer-statistics-at-a-glance

UK estimates 50%.
https://news.cancerresearchuk.org/2015/02/04/why-are-cancer-rates-increasing/

Not trying to scare anyone but yes, it is something worth preparing for financially.

mario2000 posted...

Clearly they haven't bought enough bootstraps.

Not what I was saying at all, and if youd read all of my posts then you would know that.

Noname12 posted...

I make 3,200-4000 on average after taxes per 2 week check. But only income so its not amazing. I would prefer 10k a month

I make two k after taxes and deductions and Im paying my mortgage on my own.

Rise_Makaveli posted...

I make two k after taxes and deductions and Im paying my mortgage on my own.

wow you probably live in a low cost of living area because its impossible to pay anything like that here

Its rough, but I think Im a little bit better off than average. I stay out of debt, but I really dont bankroll much with the cost of living. My current issue is having trouble figuring out a way to move into a higher income bracket, but I understand the IRS would just put me in a higher tax bracket. I also have to live with roommates and really cant save up quickly enough to buy a home any time soon because rent is high.

Payzmaykr posted...

Its rough, but I think Im a little bit better off than average. I stay out of debt, but I really dont bankroll much with the cost of living. My current issue is having trouble figuring out a way to move into a higher income bracket, but I understand the IRS would just put me in a higher tax bracket. I also have to live with roommates and really cant save up quickly enough to buy a home any time soon because rent is high.

Please do not ever consider limiting your income because of an incorrect notion of how tax brackets work. Going to a higher tax bracket just means every dollar above that bracket is now taxed at that percentage.

If the tax above 10k is 30% and it's 25% below 10k, it just means that if you make 10,005, that $5 is now taxed at 30% instead of 25%. All the money below 10k is still taxed at 25%.

You will never lose money from making a higher income*

*Caveat being stupid income cliff stuff that happens for those who use various welfare benefits

Dark_Arbron posted...

I'm lucky enough to live in a house with four incomes. Two of them are pensions and my own is unemployment (only my uncle has a job), but it still adds up. Not to mention the house is owned outright.

your parents and uncle and you.. whos the 4th income?

Not me.
If I had kids I'm sure I'll be broke as hell.

Kid free the way it should be

Glob posted...

Not what I was saying at all, and if youd read all of my posts then you would know that.

I read all your posts. I can see how they'd come off like that. Then factor in I, and likely Mario, are aware of your general comments/tone/attitude and it definitely comes off as bootstraps.

FolkenRawr posted...

I read all your posts. I can see how they'd come off like that. Then factor in I, and likely Mario, are aware of your general comments/tone/attitude and it definitely comes off as bootstraps.

Now youre just talking shit. My comments acknowledge that there are a number of factors that might have people trapped in the cycle of living one payday to the next. Thats the exact opposite of the stance youre accusing me of having.

Just because Im one of those examples of people who did actually come up from nothing to being successful, doesnt mean that you can assume that I believe everybody else who is hard up will have the necessary opportunities to do it. Bootstrappers might use me as an argument, but you shouldnt attribute that argument to me, as I dont believe it.

Silver_Patron posted...

wow you probably live in a low cost of living area because its impossible to pay anything like that here

Nope New Jersey, 975 square feet house. 3.25 interest rate with 5 percent down or so. Im struggling like yall lol.

The_shibe posted...

your parents and uncle and you.. whos the 4th income?

Mother, grandfather, uncle, me. Father never lived with us and is estranged circa 2015.

Dark_Arbron posted...

Mother, grandfather, uncle, me. Father never lived with us and is estranged circa 2015.

its cool to see a family helping each other. Not too common in America, IMO

I am, but I have a lot vices/bad spending habits I need to abandon/unlearn.

Not I. Shameful as it is to admit, I lived with my parents for entirely too long. They were gracious enough to let me stay rent free, which allowed me to accrue a good bit of money.

I am. I'm on unemployment and it's not enough. There's no jobs in my area besides construction and my back can't take that kind of work anymore so I'm SOL. There aren't any fast food places hiring near me either.