Reply to Half of six-figure earners live paycheck to paycheck

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[quote=Anonymous][b][quote=Anonymous][quote=Anonymous][quote=Anonymous]In theory we do and it isn't a bad thing.  First you pay yourself first, retirement accounts and savings are funded first-college was funded when kids were growing up.

Then you pay your bills etc. If we have any left over it goes to savings.  Makes no sense to have extra money sitting in a checking account not making you money.

so yes, we live pay check to pay check [/quote]

Sweeping excess cash out of checking into a higher-earning account doesn’t mean you are living “paycheck to paycheck”.  [/quote]

Exactly, this not living paycheck to paycheck. If you rely on the very next paycheck to pay your rent/mortgage, utilities, groceries then you are living paycheck to paycheck. If missing your very next paycheck means you will not be able to pay those bills, you are living paycheck to paycheck. If your next paycheck DOES NOT arrive and you can still pay the mortgage, groceries, utilities (whether it comes from your savings or checking account it does not matter), You are not living paycheck to paycheck.

If your next paycheck doesn’t arrive and you have to use a credit card or borrow $ from your Mom to pay rent, groceries etc…..that is living paycheck to paycheck.  Be grateful that this is not your life situation and stop pretending poverty because all of your check is accounted for in your multiple savings and investing vehicles each month.[/b]

I make $170+ and am not living paycheck to paycheck. Thanks to the example of  spendthrift immigrant parents, I am as saver and could go years without one as I live under my means, but still enjoy travel, nice car etc. Thank you God, Mom and Dad!

[/quote]

+1. Thank you for explaining this clearly to the obviously clueless DCUMers. [/quote]

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