Isaac and I were talking money tonight and we started talking about the difference of living paycheck to paycheck and we both agree that it's a choice of lifestyle. In both situations there are choices that YOU have to make for your money. Your money is just that YOUR money and you have to tell your money where you want it to go. Do you really need those sports channels? is it a want? so many people these days aren't connected to the difference of WANT and NEEDS. I know the past 5 years have been a huge learning experience for us but the last 2 years were a true wake up call when hubs job was threatened. It was the 1st time when we we're thankful for our choices that we made the 3 years prior. We didn't have a ton saved and lots of prayer but we had enough to keep us from not drowning. We had to start all over again but even when we had unemployment we set aside something. Yeah maybe it was $10 a week but it was a start. I am happy to say that we are past what we had back at the start in savings that helped us make it through our 1.5 years worth of FURLOUGHS. We are because we Choose to live paycheck to paycheck with our savings being 1 of our bills..........................................
There is a difference between living paycheck to paycheck... Let me explain there is a HAVE to and then there is a CHOICE to.
Now these are my thoughts and only my thoughts................OK Hubs as well.................
Living paycheck to paycheck because you have to = your bills are MAXED out or your living a lavish lifestyle for your income. Now don't get me wrong there are times when things pop up and we have to live paycheck to paycheck (illness/unemployment) because we have to but there better come some downgrades in some of the WANTS so you can lower your bills to income ratio.
Living paycheck to paycheck by choice = Basically living with a budget that includes setting money into a savings fund for emergency but never touching the emergency unless it is truly an emergency. And No going out to dinner or buying those cute shoes are NOT an emergency.
But do make sure to include an spending allowance even for the adults. Hubs and I are not ashamed to admit that we both have allowances