Reasons You’re Still Living Paycheck to Paycheck

Your salary might not be to blame.
  • Jamison

    Pretty much don’t be stupid. Clearly, there are at least 10 ways people are making bad financial decisions. All of which are easy to overcome with dedication and will power. Find it within yourself and feel the glory of financial freedom.

  • This are all good reasons if we assume that people earn a decent wage. Unfortunately at the moment many simply don’t earn enough to meet the minimum costs of living. This is a ’cause’ I suppose.

    • Avery

      I make 7.25 an hour and I’m not complaining. I pay my insurance, car payment, gas, clothing, food, automotive repairs, haircut, cellphone bill and rent. I work 50 hours a week. This coming year I’ll be going back to school. I’ll get my schedule Changed and I’ll be good to go. It’s people like you who give excuses to my generation and allow them to be lazy.

      • Madeline

        No need to be self-righteous.

  • I agree it’s easy to spend money on the little things that add up quickly. I find it easier to use cards and budget electronically. For me, cash is very easy to spend and lose track of where it all goes. A credit card comes with strings and I tend to think harder when I have to pay for something twice (with the card, then my bank account).

  • Chatham Hale Forbes Sr.

    Quite aside from the personal factors listed is the well established fact that 98% of the American population earns far too little money in this economy to budget rationally. The savings rate is far too low, the paychecks are far too low, and this has been true for well over a decade. Check the archived columns of Paul Krugman or Robert Reich for professional explanation of these sorrowful facts. Check the frequent speeches of Senator Elizabeth Warren, a Harvard law professor, and Senator Bernie Sanders also, for similar explanations. The prudent management discussed in this article is valuable guidance, but the truth about long-term flat income and income inequality in our country has to be given precedence over all else. If you don’t have enough income, and no prospect of acquiring a decent one, then all the good practices in the world can’t improve your financial position significantly.

  • Anthony The Mastermind

    none of those apply to me. it depends on your salary and payments. for example one person lives in a house and has a big income. lets say 60,000. it can work for some people.