Paycheck to paycheck - its everywhere

Wow, what is he buying?

 

Hes not disciminatory on what he (they) spend money on.
They purchase very little food from the supermarket. Maybe 50-100quid/week. So a lot of eating out, fast food, etc.
They like a party - they threw a party for halloween which he estimated was 5,000pound. When I went through it, it was closer to 10,000.
Every day (and I mean every day) they duck down the corner store for lunch/breakfast. Its rarely less than 100pound a day (they both smoke)
Every day their cards have between 10 and 20 transactions.
His mrs doesnt work, so she is off to coffee club, lunch and beauty salons etc.
Clothing - nearly daily purchases. Certainly every week there is an item of clothing purchased.
Holidays - several per year.

The list just goes on and on.
I asked him about his accounts, he couldnt remeber his log in and had to call the bank. It had been probably 6months since he had looked at them. He had no idea what was going through the accounts.

It boggled my mind. Ive seen guys bad with money. But never anything like this.

Blacky

 

I buy the raffle tickets but frequently use the no money excuse for lottery. I don't get asked much any more, I think when my staff win the jackpot I will be the only one left at work

 

I live paycheque to paycheque because all my pay goes straight into a savings account after putting aside expenses and loan payments.
I guess those people you encountered might be the same.

 

The interesting thing though is people were definitely more likely to buy multiple tickets the day after payday. Before payday people would generally just buy 0 or 1 ticket. After payday, multiple ticket buying was much more common to see.

 

Obviously we all go through thought times

Sometimes people have circumstances eg gambling, family health problems

However I've found that aussies in particular seem to live pay check to paycheck very often.

It's not necessarily a bad thing. It's a choice of lifestyle.

If I ****** away my salary every week certainly wouldn't feel very comfortable as the next big bill or unexpected event happened then I'd be in trouble. So I aways had a little buffer even as a 18yr old.

This phenomenon is also known as "being a tightass', but oh well. I have an ip or two. I'm happy being labeled one........

 

You forgot pokies

 

almost back to pay cheque to pay cheque for me (for this week anyway). Leaking hot water system, decent sized vet bill both decide to fall on the same week I had lined up to get some lawn put in at our new house. Cant catch a break sometimes

 

Blacky, I havent seen anything like this for a while.

They need to get a 2nd job at the same salary as the first. Alternatively, they need to cut costs.

Or both.

Other alternative, they are toast.

Other alternative, they can join a network marketing firm and sell cleaning products to all their family and friends, and this is after selling all their cars.

After you explain this to them, give them each a pair of dice and then ask them if they are ready to roll...

 

some of these living expenses are crazy... mo money mo problems!`

Herbert Smith Freehills vs White & Case: How law firm went to war with itself

Freehills posted a profit per equity partner of £840,000 ($1.4 million) last financial year. Despite their big pay cheques, however, many of the partners argued the full extent of the restraint should not apply because they would struggle financially and, in some cases, get into further debt if they could not work for six months.

For instance, Quinn gave evidence he has monthly expenses of about $45,000, which include $15,000 mortgage repayments, $9000 school fees, $6500 payments for two family cars and credit card and living expenses of up to $15,000. He lives in a four bedroom, multi-million dollar mansion in Melbourne's prestigious suburb of Toorak and his wife is currently not working.

Clark said he is sitting on a debt of more than $3.5 million, and he will have to pay $20,000 per month for living expenses including "food, utilities, insurances and up-keep of properties" on top of private school fees and financial support for his dependent parents.

"If I am prevented from working for six months I would need to borrow money in order to service my financial obligations set out above," he said.

...

Justice Robert McDougall, however, showed little sympathy for the partners' financial affairs, saying "I have some difficulty in seeing why the court should relieve them of the consequences of what must have been a careful decision."

He said when they made the decision to retire to defect to White & Case, the consequences of doing so must have been apparent to the eight partners.



Read more: http://www.afr.com/business/legal/the-freexit-herbert-smith-freehills-leavers-and-remainders-20170301-gunufv#ixzz4c73kXTOz

 

These guys are the true meaning of living paycheck to paycheck or being stuck in the rat race.

 

We live paycheck to paycheck, always have. One thing we are really good at though is paying bills but when it comes to saving, we suck.

To counter this I have increased the debt payments to $5K a month from our salary, it's a bill so we just pay it (effectively it's savings but not in our minds). We make do with what is left, if we just paid the minimum payment per month, we would waste a LOT of money.

 

Pay at work was a day late the other week. People lost their minds over it.

 

One woman at my previous workplace didn't update her bank details in time and her pay didn't arrive on the normal pay day. She called her manager freaking out that she couldn't get to work as she couldn't put petrol in her car

 

That's pretty sad

 

Would suck to be in that situation.

A lot of people just have it tough and cant get ahead. But then others just have bad spending habits and really should know better.

 

A lot of the people doing it tough have bad spending habits to boot....not sure which bit is cause and which bit is effect...

 

when I was young I had a few phew moments,

but when I was 18 , I had my first credit card with 3k limit,

I knew that if I was really short on cash, I could have used my credit card, and by the time my payment was due, I could have paid back the $30 odd,

living paycheck to pcheck at a not so young age, and without a valid explanation is simply embarassing in my opinion

 

I know someone who goes to the local club and waits till 8pm on payday when her pay hits her account then takes out money to play pokies. I don't pity her as it's self inflicted and easily fixable, constantly has no money and gets others to buy her drinks and lend her money for holidays and things, she is 50 so will never change.

 

Her addiction. Pokies. Mine - I need my mobile phone! I can't live without it. I can justify this because I need to interact with airbnb guests and enquiries at any drop of the hat. Property Chat internet forum browsing is a side benefit

Perhaps she just needs to find this forum and she can swap one very expensive addiction to another.