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re: Did You Ever Live Paycheck to Paycheck?
Posted on 1/25/23 at 6:28 am to SaintlyTiger88
Posted on 1/25/23 at 6:28 am to SaintlyTiger88
My wife quit working after our first son was born. It was hard financially, but we felt that was the right decision for us. She stayed home for about 10 years. It was okay by the end, after I had promoted a few times. She went back to work last year and it has been great. I can now max out my retirement. That was a sacrifice for her staying home.
0
Posted on 1/25/23 at 6:41 am to SaintlyTiger88
Absolutely, my first 5 years out of college it's all I knew.
Posted on 1/25/23 at 6:48 am to SaintlyTiger88
Yes
Spend less and save more. Or increase your income and keep expenses the same. There’s no magic formula, but having a large pot of money available, just sitting there is a great feeling.
quote:
How were you able to get out of that cycle?
Spend less and save more. Or increase your income and keep expenses the same. There’s no magic formula, but having a large pot of money available, just sitting there is a great feeling.
Posted on 1/25/23 at 6:50 am to NPComb
quote:that's not what living paycheck to paycheck means
I invest as much as I can and scrounge when I plan to buy something. When i need a big ticket item I cash in low or no dividend paying stocks that don't have much upside.
Posted on 1/25/23 at 6:56 am to SaintlyTiger88
(no message)
This post was edited on 9/17/23 at 11:45 pm
Posted on 1/25/23 at 7:01 am to SaintlyTiger88
Not really. I didn't make great money in my first job out of college (about $800 every 2 weeks), but I had saved up alot during college because I lived at my parents' house and stashed alot of my scholarship and TOPS stipends. I was on a full ride scholarship plus the highest level of TOPS, so I had a nice savings/checking account balance when I graduated.
I still lived pretty frugally though because I was in grad school and my rent was about a third of my monthly take home.
I still lived pretty frugally though because I was in grad school and my rent was about a third of my monthly take home.
Posted on 1/25/23 at 7:01 am to SaintlyTiger88
When I was younger, I worked as a janitor while in college. I made 3.35 an hour and lived paycheck to paycheck. It helped me stay motivated to study.
Posted on 1/25/23 at 7:02 am to Dicky
quote:
$2k/month child support (to an ex wife that makes $20k/year more) will really throw your life into a downward spiral.
How does this happen?
Posted on 1/25/23 at 7:06 am to deeprig9
quote:
Contest the divorce. Be legally separated. Unless you are the one who fricked up. Then there's no contesting.
That's how I understand it (in Georgia).
Thus my comment "You must have fricked up".
Not how it works in LA. You can't contest a divorce, really. 99% of our divorces are based on time apart. You can only contest saying that the person lied and you had reconciled within the applicable time period.
Standard visitation for the non-domiciliary is usually every other weekend and like 1 night/week.
Child support is calculated by the total monthly salary of both parties, so the domiciliary parent may make more and still get big money if both are high earners. The calculation isn't based on the equity between the incomes unless there is 50/50 visitation (I believe the domiciliary parent status becomes irrelevant here).
Posted on 1/25/23 at 7:08 am to SaintlyTiger88
quote:
Did You Ever Live Paycheck to Paycheck?
When I started I was paid twice a month. The first check was consumed by bills. I save a little from the second check. I wasn't poor but I wasn't really getting ahead.
Posted on 1/25/23 at 7:10 am to Gings5
quote:
How does this happen?
I'm looking at the Guidelines for LA and I'm not sure about that specific calculation.
Assuming roughly equal salaries, with 4 kids they'd need a combined monthly income of $24,150, for his 50% share to total $2k.
Childcare expenses are sometimes calculated, so maybe that's what he's talking about. I assumed mikel's kids were older.
This post was edited on 1/25/23 at 7:12 am
Posted on 1/25/23 at 7:43 am to cgrand
quote:
from my teens into my 40's
Posted on 1/25/23 at 7:44 am to AUriptide
quote:
I remember only having $20 in my bank account after paying bills. Would hold bills until my paycheck hit and then mail them.
i mean that is pretty normal for people starting out or in the younger 20s.
i love how the OP acts like its some weird thing to live paycheck to paycheck. Newsflash....unless you are supported by your parents, almost everyone has done it at 1 time or another especially those fresh out of schoool
i havent in a very very long time, but it doesnt change anything feelings wise, just make sure you budget properly, make sure you are still putting atleast $100 401k and then you just suck it up and make it happen. no missing work thats for sure.
Posted on 1/25/23 at 7:45 am to SaintlyTiger88
quote:
Did You Ever Live Paycheck to Paycheck?
From birth to thirty, and it sucks when you’re a kid and can’t control it.
Posted on 1/25/23 at 8:57 am to SaintlyTiger88
Hell yes! My wife and I had four kids when we were 29, and she was a stay-at-home. She managed the money, and she would take my check, pay the bills, and parcel out an allowance to each of us to last the next two weeks. There would usually be about $50 to $100 left that she would put in the savings account, but that got used up whenever a car, or appliance, broke.
This went on for about 10 years, until I started making more money, and she started working part time when the kids were all in school.
Now we're wealthy, but we never forget what it was like.
This went on for about 10 years, until I started making more money, and she started working part time when the kids were all in school.
Now we're wealthy, but we never forget what it was like.
Posted on 1/25/23 at 9:09 am to SaintlyTiger88
I don't ever remember trying to figure out which bill I could pay this check, but I remember counting change to see if we could split a couple of McDonalds cheeseburgers for supper.
Posted on 1/31/23 at 9:59 am to Traveler
quote:Then privatized housing and the issue with BAH put an end to food stamps.
I remember the stink it raised when a few sailors applied for food stamps and actually qualified under the existing guidelines at that time.
Posted on 1/31/23 at 10:19 am to SaintlyTiger88
Yes, wasn’t very fun. A better job, chopped up the credit cards and more discipline until I got well ahead of the game
Posted on 1/31/23 at 10:33 am to mikelbr
quote:
Not at all. That's how shite goes if she's the domiciliary parent.
50/50 is not as common as the OT wants people to think and it's incredibly hard for dads to pull it off unless living in the same zip code and have support(new wife, parents, siblings, etc).
So yea, a good dad who's divorced is often in this exact predicament.
I have been in his shoes for 11 years now. Counting down the payments.
Hang in there. I made my last child support payment about 6 months ago. It seems like the day that the BS ends will never come, but it does.
Posted on 1/31/23 at 10:37 am to SaintlyTiger88
There are people living in 600k homes that are living paycheck to paycheck. Just because someone is making "bank" doesn't mean they can't be in financial trouble without a consistent check 
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