I dunno, unemployment/pensions are very high. Single with two kids and you'd be on about $40k tax free and no excuses at all not to save a tonne of that. No real reason to look for work either, but that's another story.
Living pay cheque to pay cheque!!
- Thread starter Alex P Keaton
- Start date
In the early years of our marriage, we often ran out of money prior to pay day, but that was because we borrowed to the hilt to buy IPs. We were not spending the money on frivolous stuff.
The big "sleep at night" factor for us was that if we really needed money, we knew we could borrow from my parents, which I didn't like doing, but sometimes there was no alternative, eg. vehicle breakdown and other things just not budgeted for. We always paid interest if it was a longer loan than a day or so because we wanted to be independent. We could have done the same thing by drawing a cash advance on a credit card.
So some people (like we were) living pay day to pay day are doing so because of other investments, though I would imagine most people are simply "living up to their income".
The big "sleep at night" factor for us was that if we really needed money, we knew we could borrow from my parents, which I didn't like doing, but sometimes there was no alternative, eg. vehicle breakdown and other things just not budgeted for. We always paid interest if it was a longer loan than a day or so because we wanted to be independent. We could have done the same thing by drawing a cash advance on a credit card.
So some people (like we were) living pay day to pay day are doing so because of other investments, though I would imagine most people are simply "living up to their income".
people "sleep at night" because they have a CC - not cash.
This is us just now. We are a single (low) income family and just now living almost from week to week almost since a pile of things happened all at once - car and a few other things broke down, I have am having a long illness with this pregnancy so can't work and need expensive medications, hubby had to take some time off with no pay, to care for the other kids when I was really bad and all the bills seemed to arrive at once. It is not fun. Like Wylie, I know I could ask my parents for help if necessary but would rater not. Mum asked if I would like a loan today and I immediately had visions of doing a few things to an IP that we are planning with the cash, until she told me she was offering it for living expenses.
The thing is, when one income is supporting a family of 5 (almost) and a few IP's, there are a lot of things that can go wrong to blow out a careful budget and sometimes they all seem to happen at once.
I can understand younger people living from pay to pay but personally I dont know how they do it. .
I was once one of those, I didnt have any idea (like most people) about wealth or money, or what I could achieve by having it, it was all just too hard, I just knew I went to work each day, got paid every week, and spent every last cent then repeat the process.
I think it might have alot to do with your attitude, the 'I dont earn enough to be rich' attitude is hopeless so you have no drive to do anything about it and just accept the fact youve set for yourself.
the mind is a very powerful tool, it's your god or genie when you think a bout it. .
It reminds me of something,
I had a car loan a few years back which I was paying interest on the loan, I decided Id use cash to pay it all off to save on the interest and not have to pay it anymore, I walked in with 4k cash and said, Im here to pay off my loan, the chick at the counter says in a very surprised voice 'what. . all of it?. .' looking at me as if I was just being stupid, I said 'well yea. .' she nearly fell off her seat and had to go talk to the manager, to me 4k isnt a great deal of cash but it just shows that most people's mindset is pretty small when it comes to money.
I was once one of those, I didnt have any idea (like most people) about wealth or money, or what I could achieve by having it, it was all just too hard, I just knew I went to work each day, got paid every week, and spent every last cent then repeat the process.
I think it might have alot to do with your attitude, the 'I dont earn enough to be rich' attitude is hopeless so you have no drive to do anything about it and just accept the fact youve set for yourself.
the mind is a very powerful tool, it's your god or genie when you think a bout it. .
It reminds me of something,
I had a car loan a few years back which I was paying interest on the loan, I decided Id use cash to pay it all off to save on the interest and not have to pay it anymore, I walked in with 4k cash and said, Im here to pay off my loan, the chick at the counter says in a very surprised voice 'what. . all of it?. .' looking at me as if I was just being stupid, I said 'well yea. .' she nearly fell off her seat and had to go talk to the manager, to me 4k isnt a great deal of cash but it just shows that most people's mindset is pretty small when it comes to money.
Ha reminds me I was at a meeting with a body corp manager once and it was realised by both of us that my fees were way overdue. I said, oh I'll just pay that now thanks and spontaneously pulled $800 cash out of my pocket. She gave me a really weird look.
No bank stuff-up can wipe out the cash in my pocket
Ha reminds me I was at a meeting with a body corp manager once and it was realised by both of us that my fees were way overdue. I said, oh I'll just pay that now thanks and spontaneously pulled $800 cash out of my pocket. She gave me a really weird look.
No bank stuff-up can wipe out the cash in my pocket
We all have different minimums of personal integrity, and they get higher as we mature. As I never carry that sort of cash I would have had to ask for an internet connection to achieve the same results. But the debt would be cleared pronto!
I like settlement day on a property.
You waddle into the bank in full Bogan Style. IE ya daggiest oldest stubbies , singlet and no shoes. Ask for a balance. Girl rolls her eyes $33.56 c.
OK. Can I deposit this cheque.
Next thing the manager wants to invite you in for coffee
Gee Cee
Greg
You waddle into the bank in full Bogan Style. IE ya daggiest oldest stubbies , singlet and no shoes. Ask for a balance. Girl rolls her eyes $33.56 c.
OK. Can I deposit this cheque.
Next thing the manager wants to invite you in for coffee
Gee Cee
Greg
Hi, how's this for small mindset? I bought $85 worth of property investment books & the check out girl at Angus & R was flabbergasted & said so. Said she hoped they repaid me as an investment.
I hope I didn't smirk.
KY
I hope I didn't smirk.
KY
Next thing the manager wants to invite you in for coffee
Gee Cee
Greg
Funny about our individual experiences. I still remember Wal N......., the bank manager who got me into my first property, 40 years ago. Back then I probably was a bogan but he treated me better than any banker since.
He may no longer be with us, (I don't know) but if we met there would be warm greetings. (I'm talking about meeting on this side of the abyss).
Well done ,try and findthe local opp shop in your local area,most of my books cost $2.00 to 5 dollars,and the best part is most of the important items in the books someone has already outlined the important parts
in red ink..willair..
Here was a girl wishing you well and you "smirk". Have I miss-read this post?
How very narrow minded.
Just because people live from pay to pay it doesn't mean they are stupid, waste money or don't know how to budget. Some families pay $250 a week rent and pay $150 a week on food (more if they have kids). There's $20,000 and they haven't paid electricity, bought clothes and other necessities.
I am a very good saver and never buy frivolous things.
There was a time 16 years ago when I was at Uni with 2 kids and my hubby lost his job. We survived because he went to garage sales and sold stuff he bought at the markets and I worked 2 nights a week. Yes we lived from pay to pay for 12 months. Luckily our mortgage wasn't huge and we escaped the then 17% interest rates.
It's not a good idea to criticize others when you don't know their circumstances. How old are you? When you grow up and get a family I'm sure there will be times when you can't save $100 a week.
I think you may have SF.
I read it as the girl couldn't believe he would spend so much money on investment books - she probably thinks they're uncool or something like that.
Of course; (assumption) she would probably spend $85 per week on cd's, dvd's ciggies and magazines?
And because you are wise enough to invest and have a few IPs, those "pay day to pay day" types will look and you and say you are too rich to have trouble paying the bills.
It's hard now, but you will be better off in the long term and far better than those who live pay day to pay day because they do not spend so wisely.
I am not critizing others, and where did I say people are stupid!! I was saying I dont understand why some people dont budget/manage their money better. I didnt say all people
That sounded a bit harsh
Anyway this is another interesting topic I created. A nice little discussion. Page # 3 now
Kim,
Don't feel guilty about calling people stupid. The reality is that most of the world is (stupid). No politically correct garbage here, kids.
If you don't criticise others, you will be about the only human in the history of mankind who doesn't or hasn't.
We're all whingers and complainers, but some don't want to admit it. I've had about 30 years observing humans in action through my work.
Have a thick skin, say what you think, and ignore all who attack your beliefs. Listen to theirs of course, as they might have something to teach you.
Back to the topic though; I worked as a nurses' assistant for a few years when I got sick of Golf ( yes; another weird job I've done, but what the hell?). All the other nurses' assistants were mostly middle aged wives and nannas working to supplement the household income. I was the odd one out; a 40 year old male, and I felt like a fish out of water, but it suited our lives for me to do it at the time. Good pay, good flexible hours to look after a young child.
So one day, I get my pay slip, and there is no pay. I realise that I've forgotten to submit my timesheet the week before. OOPS. No big deal for me, but it would be good to have the money now instead of next fortnight (I don't live week to week thank god).
So, I go around to the pay office window and get in the queue with about 5 other nannas who have a grievance with their pay.
The woman in front of me turned and asked what had happened to my pay slip, as most of them are querying a change of shift allowance or something like that - minor stuff.
When I told her that I had been paid nothing as I'd forgotten to hand in my timesheet, her eyes bugged out and she made that sucking in air noise that people do when they get an extreme shock or scare.
Then she said; "how are you going to survive to next pay day?"
I simply said that it'd be alright and secretly thought; "you poor, pathetic sod; destined to work until 65, and retire broke on the pathetic-sion".
No doubt she is a week-to-weeker, like so many others. Pretty sad, and nearly all of them were the same as her.
Easy "son".....you be talkin about my tenants. How will I survive without them!
Stop giving them ideas....in the old days that was treason!!
Stop giving them ideas....in the old days that was treason!!
Had an interesting discussion with another work colleague today. There were a few of us sitting at a table working. She is new to our department. I commented about how I saw someones statement and they had just 73 cents to their name, and had a credit card bill of $2 K. I commented that I dont know how people live like that and that i wouldnt be able to sleep at night if I didnt have any money! I didnt tell her that they were on an income of $60 K gross!!
She thought it was all quite funny and was joking about he she went into negative equity to buy stuff. She said she was $500 overdrawn. She talks about how she likes to go on hoidays and that she's jealous that her friends are going away now and shes not. She buys her lunch everyday, buys a coffee in the morning, smokes. I talked about how I couldnt go on holiday if I didnt have any money, I'd feel too guilty to enjoy it. She said it doesnt matter and that she doesnt need money to go on holidays. I guess she meant she puts it on credit.
Now if she were to lose her job or get sick she'd be in big trouble, she has no money in the bank, she is in negative equity and I think I heard her say something about being in credit card debt, but I dont know how much.
The other day I mentioned that I have two bank accounts, and that I pay myself first before I pay for anything else, and I dont touch this 2nd account. I put in a bit from each pay. I said its a good way to save because you dont miss the money. She said a while ago she did something like that and she thinks its a good idea. Wander if she'll do it though, thats another thing.
She thought it was all quite funny and was joking about he she went into negative equity to buy stuff. She said she was $500 overdrawn. She talks about how she likes to go on hoidays and that she's jealous that her friends are going away now and shes not. She buys her lunch everyday, buys a coffee in the morning, smokes. I talked about how I couldnt go on holiday if I didnt have any money, I'd feel too guilty to enjoy it. She said it doesnt matter and that she doesnt need money to go on holidays. I guess she meant she puts it on credit.
Now if she were to lose her job or get sick she'd be in big trouble, she has no money in the bank, she is in negative equity and I think I heard her say something about being in credit card debt, but I dont know how much.
The other day I mentioned that I have two bank accounts, and that I pay myself first before I pay for anything else, and I dont touch this 2nd account. I put in a bit from each pay. I said its a good way to save because you dont miss the money. She said a while ago she did something like that and she thinks its a good idea. Wander if she'll do it though, thats another thing.
