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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’ve never completely understand what paycheck to paycheck means. Does it mean I can’t skip a paycheck without going in the red? Then yes. But I also put money into a TSP and 529 each month (before I ever see it), so it’s not like I’m not saving. I make $176k.[/quote]

I've often wondered the same. I technically live paycheck to paycheck, because all my money is predetermined--every penny has a destination. However, I have a decent savings I can pull from if needed and could survive off of it for several months if needed. [/quote]
That is the definition of not living paycheck to paycheck. I don’t understand why this needs to be explained.[/quote]

Can you give us the definition used in the survey then?  Because there seems to pretty wide range of opinions about what it means and if the survey didn't provide a definition to the respondents, the results are going to be pretty meaningless.

I don't have a good definition of what the term means.  To me, it implies that you don't have much savings and would have to borrow money if you missed your next paycheck.  Our family spends almost everything we earn from our regular biweekly paychecks (other than 401k, HSA, and FSA deductions), but then we get some pretty big annual bonuses that go into savings.  We also have a large amount in investments, and that throws off dividends that we re-invest.  I don't consider this to be paycheck to paycheck, but I could see how someone might since the regular paychecks are all spent.  [/quote]

Paycheck to paycheck means you have NO savings. It means if you miss a paycheck you can’t pay your bills.  [/quote]

According to the survey that started this thread, the people who said they were living paycheck to paycheck in fact had savings (Figures 7A and 7B).  I guess the study authors and respondents don't share your definition.  Just underscores that this survey that doesn't define the key term is meaningless clickbait.[/quote]

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