Living from paycheck to paycheck is something that can create a false sense of financial security. Indeed, the fact of having enough money to take care of some important matters on a regular pattern such as paying the rent, the utilities, having enough money to put fuel in your car, and to put food on your plates can make you feel that your situation is ok as your basic necessities are taking care of.
Seeing people living precariously like that for many years, always make me wonder how can they stand living in such a situation, and how do they allow it to last that long? I know many people in my surrounding who live from a paycheck to the next one for a quite good amount of time and seems to be ok with it. But when you guys don’t expect it, it will come a time, where either your expenses will increase or one of you if not the two of you will lose your jobs. When either of those cases pop up what will you do?
You will definitely start to worry asking yourself, how you are going to put gas in the car to go run errands. Speaking of running errands, where is the money is going to come from to buy groceries? Because both of you including the children have to eat every day, three times a day. When your kids become hungry you will worry even more.
Getting government economic assistance in terms of food stamps and subsidized housing can alleviate your situation, but you have to be eligible for it first in order to integrate the program; once there, you have to report to them on a regular schedule which is established by the program.
A lot of low-cost housing residents do not like it after moving in because, according to their say, the neighborhoods are not safe to raise their children, due to street drug addicts, or delinquents living there as well.
Also, do not think government sponsored economic program will give you a lot of money. Hell no. Only a minimum is given to you, and from time to time they will check on you to stimulate you to get a job for you not to abuse the system. In case you receive some significant amount of money, you have to report it to them, and failing to do so may get you into trouble with them as you may not qualified anymore; this is the last thing you want, don’t you?
Often times I went to do grocery shopping while in the queue to pay my groceries, the cashier let the person ahead of me who was at the checkout counter that it is not possible to buy some items in the cart, as they are not included in the grocery list of the food stamp program. If it cannot be paid from their own pocket, the only option is to give up on those items totally, or to go back to the aisles to get the ones allowed by the program.
In a certain way, they tell you what things you can buy and what ones you can’t. Hmm personally I will not like that, as an adult, I like having the freedom to buy what I like, what I want, and my specific brands. If I was in any of those programs, that, not only will boost me to get out of that situation and to find a good job, because this is how my buying freedom could be regained.
I will never forget that one of my cousins who with her husband live for around six years from paycheck to paycheck. During that six year period everything was sort of ok; however, when my cousin got pregnant and had to stop working because of her high risk pregnancy, everything scrambled.
The matter got to the point that she and her husband had to count on the generosity of friends and relatives to put food on their plates. As the husband could not take care of his pregnant woman, they ended being evicted with a newborn baby girl in their arms from where they had lived for over a decade. That was the result of living paycheck to paycheck. On top of that their relationship got affected as well; as a consequence, they never get back to the way they were happily living before getting forced to stay at home due to pregnancy illness.
Another con of living from paycheck to paycheck is that you cannot make projects and make them come true. Even if you happen to dream of going on a cruise, or paying a special camp for your kids; tell me how you are going to pay for them? Since your paycheck is needed to take care of the rent and other stuff, and after that what is left is nothing, or you do not have any leftover money, and you are already thinking about the next check.
Tell me what will happen in case of an emergency? How much do you have at home in your wallet? And how much is in your checking and savings accounts. 1000? Less than that? $700? $400? Just a little more to keep your account open?
It is time for you to take action, stop staring at the calendar and counting down the days because you cannot wait for the next paycheck to come along.
Guys if you are not too careful you can fall in the trap of living paycheck after paycheck. I know that for some people as long as food is put on the table, and the rent is paid everything is alright; but believe me by living like this you are living on the edge; do you realize that both your husband and you are one paycheck away of being homeless: that is not a life. Do But, tell me when will you save money to go on vacation, to help grow your children’s college fund, or to buy your own house? Or just to take care of an emergency. Think about your future, and the future of your kids. If you are not living on pay check to paycheck congratulations, you do good, but if you fall in the category of paycheck to pay check do yourself a favour, get out of there as soon as possible!
