Living Paycheck to Paycheck: Personal Finance for the 40%

Paycheck to Paycheck
Susan Ricker, CareerBuilder

It's pretty likely that you've kept an eye on how close payday is before, but have you ever had to create a game plan for how to make it until your next paycheck hits your account? If it feels like your money gets spent before you even see it, you're not alone: According to a new CareerBuilder survey, 40% of Americans say they rely on their next payday to make ends meet.

But before you start sweating about the economy, know that this number is actually down since the recession-era high of 46% in 2008.

Want to find out how you stack up against other spenders and savers? See what's happening in the wallets and piggy banks of other Americans with our infographic on living paycheck to paycheck.

Paycheck to Paycheck
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cherofnc

Obamanomics. Spend everything you have. Get that money circulating. Welfare and unemployment is good to get money circulating because depressed people with no purpose in life need the tiny rush of spending money. Lotto tickets, booze, illegal drugs, expensive sneakers & junk food give them another little extra boost. Besides "free money" is easy come easy go. The lower the general population(peasants) goes, the higher King Obama appears.

August 21 2012 at 9:25 AM Report abuse +1 rate up rate down Reply
HELLO JAMES

Paycheck to paycheck or meal to meal is the natural way of doing thngs.

Crocodiles live wilderbeast to wilderbeast. Lions live zebra to zebra. Of course, some leopards and panthers save part of their kill for a next meal. Stockbrokers live sucker to sucker.

August 20 2012 at 8:25 AM Report abuse rate up rate down Reply
karina

We just live in a fallen world.....smh!

August 20 2012 at 3:17 AM Report abuse rate up rate down Reply
Mary

Earned Income Credit, EIC, should have been stopped a long time ago, if even started. It just galls me to hear someone brag that they just got an $8,500 refund (this really isn't an exaggeration). It was explained to me by the person that they got all of their federal withholding back plus EIC & Child Tax Credit, and some thing like the Work for Credit pymt. I wish I could say that the refund went to necessities, but a lot of it went to a trip to a theme park, then they spent some on clothes or something. Except for the person's original withholding, none of this was because of something they earned. All they needed was some kids. I guess it stimulated the economy some, but I think the economy would be better stimulated if this tax credit was eliminated. The government that we support cannot continue to just give away money. No one should ever get back more than they paid in, or, as in this case, almost as much as they earned all year. Maybe it's just a drop in the bucket compared to the bank bail out, I don't know. Aren't the banks paying back though? Neither party is offering any real solutions. Why don't we assist parent(s) in certain income brackets by putting in affordable day care and having day care grants if needed? Better than EIC. There is corporate welfare, but no one seems to be aghast about that. The system has convinced the average voter that the elderly and disabled are their major problems. Not true though. We, as a country, need to take care of our own elderly and disabled (truly disabled) before we send a dime to another country. The elected have voted themselves far too many perks. Lobbyists have filled the electeds' coffers with one cent too much. Lobbyists should be outlawed. Super packs should be abolished. No one should need to be a millionaire to get elected. The system reeks with greed, squandering, lies, self serving individuals and down right criminals. We deserve a system that is healthy and functions more as a representation for the People. The Wall Street occupiers have been either dispersed or swept under the carpet. The media didn't have their backs. The media stabbed them in the back. What happened to get ur picket sign and get out there and show ur mind? Peaceful demonstration can be done and is effective if everyone gets together. Apathy prevails. Our once protesting brothers and sisters have fallen silent. The system is winning. We are letting it beat us into submission. The newer generations don't have any fight, and we have lost ours. The people no longer protest. The people are afraid of Muslims, terrorists, the poor, the disabled, while the system is the power that is turning us into gelatinous, gutless, stay at home and grumble to ourselves apathy ridden lumps. The system keeps ******* the life out of us while they invent our fears and pander to them. Just saying. These are just my thoughts. Don't let them worry you.

August 19 2012 at 10:47 PM Report abuse rate up rate down Reply
1 reply to Mary's comment
ilm9p

Until we cease pandering to a whole generation of dirty animals that infest every major metropolitan area of the US; the lying, lazy scum on welfare that bilks every decent American out of trillions in Food Stamps, free healthcare, free housing, and free utilities all the while they breed like rats, nothing will change.

August 20 2012 at 3:22 PM Report abuse +1 rate up rate down Reply
gmydogbud

We have both the Democtat & Republican Politicans To Thank For This + "Hope & Change" = The NEW NORMAL - !!! You'll Notice That All The Politicans Are Doing Very Well - They Have No Problem Paying Their Bills, Taking Many Vacations, ETC.! Middle Class Americans & Senior Citicizens On The Other Hand Are Hanging On By Their Finger Tips!

August 19 2012 at 7:45 PM Report abuse +2 rate up rate down Reply
ragtopdaz

Here are a few more billions spent on Obama's illegal's..


Did you know that illegal immigrants all over the United States are using a massive scam to receive tax refunds from the federal government that are often in excess of $10,000? It is estimated that 2 million illegal immigrants are filing fraudulent tax returns each year and that they are pulling in more than 4 billion dollars in tax refunds every year that they are not entitled to. They are doing this by abusing the additional child tax credit and the IRS knows all about it and yet they refuse to do anything to stop it. Illegal immigrants are filing tax returns that sometimes claim 10 or 12 nieces and nephews as dependents, and most of the time those nieces and nephews do not even live in the United States. So while you and I are being taxed into oblivion, many illegal immigrants are often pulling in tax refunds that are well into five figures. At a time when the federal government is absolutely drowning in debt, this is the type of fraud that desperately needs to be cracked down on, and



Last year, the whistleblower alerted the IRS to dozens of examples of illegal immigrants using this scam.

So what happened?

Absolutely nothing.

The IRS took no action.

But they seem to have plenty of time to come after you and I, don't they?

The WTHR investigation mentioned above discovered one instance in which it was claimed that a total of 20 children lived in one trailer in Indiana.

Because of tax credits for those children, a total of $29,608 was paid out to several illegal immigrant workers.

But when a reporter from WTHR went to the trailer, he found that only one girl actually lived there.

August 19 2012 at 3:42 PM Report abuse +4 rate up rate down Reply
vlady1000

Coomon iin most professions, except pro-sports......the main reason I do not watch, follow or buy things they endorse.

August 19 2012 at 2:35 PM Report abuse rate up rate down Reply
vlady1000

The standard of living in the US is dropping, yet people will not adjust to it, thus, all these problems. Inflation adjusted, my dad, a retired, engineer made 30% more than me (an engineer, close to retiring) and I made 25% more than the young engineers. Not to mention the drop in benefits on top of this over the 3 generations. And this is common in most professions.

August 19 2012 at 2:34 PM Report abuse +1 rate up rate down Reply
joejoegolfn

The biggest problem I see is that young people now want the same thing that it took their parents 40 years to work and save to have. That want that now! Now such thing as working and saving for the future. Instant gratification. My father raised 5 children on 800 dollars a month and taught me to always work hard and save for the future. I set up my budget on 30 hours a week and saved the rest for hard times that always comes along when you don't expect them. Instead of paying interest I pay myself. One of the biggest problems now is the baby boomers are retiring with the kids all gone, they are not spending as much as they used to and this is a big drag on the economy especially when the kids have maxed out their credit cards, have mortgages they can't afford and can't borrow any more money. Living paycheck to paycheck is a miserable existence and I will never experience that thanks to the wisdom of my father.

August 19 2012 at 1:52 PM Report abuse +1 rate up rate down Reply
magaria

If someone asked me what is wrong with America I would have to say "I don't Know." I only know my money does not go as far as it used to. Most products we buy cost more. My personal expenses for insurance, house taxes, etc,etc are always going up. All I know is that I have an abiding love for this country. I would rather live in the US than anywhere in the world. I would not want to envision that we will eventially drown in our own debt and go the way of the Roman empire. We openly and freely elect those to represent us in our government but somehow our economic problems never seem to improve. Why? Is our system of government inherently corrupt? Why can't our elected officials lead this country into prosperity?

August 19 2012 at 12:31 PM Report abuse +3 rate up rate down Reply
1 reply to magaria's comment
ragtopdaz

Why can't our elected officials lead this country into prosperity? Its because they are to busy filling up their own bank accounts as well as their puppet masters.

Nancy Pelosi never read the health care bill but she sure read all the insider trading stock tips sent to her..
Nancy Pelosi Blocked Credit Card Reform While Investing Millions in Exclusive Visa Stock Offering


Former Speaker of the House–and current Minority Leader–Nancy Pelosi apparently bought $1 million to $5 million of Visa stock in one of the most sought-after and profitable initial public offerings (IPO) in American history, thwarted serious credit card reform for two years, and then watched her investment skyrocket 203%.
Her response to a reporter when asked about this was " What's your point? I did nothing wrong."
Politicians spend most of their time fighting off law suites and the ethics committee for they crimes they were caught doing.
The rest of their time is spend on defending all of the illegal's in this country who cry discrimination because they might get deported back to their own cesspool of a country. The politicians fight to keep them here so they can turn this country into a mirror image of the place they just left.

August 19 2012 at 12:49 PM Report abuse +3 rate up rate down Reply