I get what you mean but I think the 10% is still valid. Most paycheck to paycheck people still have some amount of money left over before the next paycheck. The idea here is put that extra money somewhere else until you have built up enough money so that the paycheck is replenishing a pool instead of being used directly. If you take 10% out before you even see it you may be able to adjust your expenses to live without it.
No, it's not valid. If you are living from paycheck to paycheck and 10% isn't there for any reason, something isn't getting paid... and then it's getting shut off.
If you are already living from paycheck to paycheck, you're already barely getting by as it is and that surplus you speek of might be the loose change in your pocket.
Loose change you're probably going to rely on if something comes up... like needing food.
Ever turn down an invite because you probably don't have enough gas for the rest of the week and it's already iffy if it will?
Ever roll pennies for food?
Ever miss a meal so your family won't? Often enough that you lose weight?
Someone living paycheck to paycheck while owning a smartphone, internet service, and/or paid subscriptions to anything other than the essentials is living paycheck to paycheck by choice. You need a phone not a smartphone. Antennas exist to provide tv for free, after the purchase of the antenna that is but they're not that expensive. I've lived paycheck to paycheck growing up with my father and it fucking sucks.
The one "luxury" we allowed... or rather, was demanded and I conceded to was the basic internet that kinda came with the telephone land line anyway. But that story is another thing entirely.
Smartphone? Nope. No cellphone of anykind, but I eventually got a prepaid flip phone after a while that caried just enough time on it to keep the number active that I wound up barely using.
Cable? Pffft. I wish. Rabbit ears were a thing for us long after they weren't for most people.
Subscriptions? None. Ever.
Actual essentials like water and power did get turned off semi regularly (well after the phone and internet) and sometimes we'd have to make do without until payday a few days later.
I can honestly say I'm alive and didn't starve thanks to ramen and PB&J sandwiches. The silver lining is that I like them both and still do.
The most valuable time of your working career is between 18 and 30. How far you make it then will dictate the next 30+ years. It’s also the easiest time to outpace your peers.
I don't know about that one. We've kinda reached a point where reliable cars for people who don't wrench are scarce at a cash price point. Plus credit is essential nowadays and thats one of the best ways to build it
There are other ways. Using a credit card for all spending and then paying it off every month will take your score up quickly. If you can come up with the money for a car payment you can come up with the money for repairs. However the times you don’t need repairs you get to keep the money.
The #1 thing that keeps people locked into their jobs is recurring payments. If you can minimize them you can afford to be without a job longer which means you feel less locked into a job when you have the option to walk away. That helps make better career decisions.
Every person I've ever seen who lives paycheck to paycheck is living beyond their means. A lot of them spend 75%+ on rent each month. Here's a tip, never spend more than 50% of your monthly income on rent. If you do, you have to be constantly looking at new, cheaper places to live. I'm 28 and I still live in student housing because it's at least 20% cheaper than anywhere else
>Living paycheck to paycheck
Someone doesn't understand paycheck to paycheck
If you are already living from paycheck to paycheck, you're already barely getting by as it is and that surplus you speek of might be the loose change in your pocket.
Loose change you're probably going to rely on if something comes up... like needing food.
Ever turn down an invite because you probably don't have enough gas for the rest of the week and it's already iffy if it will?
Ever roll pennies for food?
Ever miss a meal so your family won't? Often enough that you lose weight?
Smartphone? Nope. No cellphone of anykind, but I eventually got a prepaid flip phone after a while that caried just enough time on it to keep the number active that I wound up barely using.
Cable? Pffft. I wish. Rabbit ears were a thing for us long after they weren't for most people.
Subscriptions? None. Ever.
Actual essentials like water and power did get turned off semi regularly (well after the phone and internet) and sometimes we'd have to make do without until payday a few days later.
I can honestly say I'm alive and didn't starve thanks to ramen and PB&J sandwiches. The silver lining is that I like them both and still do.
The #1 thing that keeps people locked into their jobs is recurring payments. If you can minimize them you can afford to be without a job longer which means you feel less locked into a job when you have the option to walk away. That helps make better career decisions.
Being pretty is expensive!