What does living from paycheck to paycheck mean exactly? Does it mean that after rent/mortgage and all the bills are paid, there`s nothing left to put into a savings account?Or does it mean there`s no money left for entertainment or travel or savings?
by 
tikitika
ANSWERS: 4
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It means you maybe have enough money to pay your basic bills each month ... nothing more. You have no savings to fall back on in an emergency.
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it means that just before payday, ur running out of food, ur car needs gas, ur just making ur monthly bills and if you miss just 1 paycheck ur f'ed
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Yep... That's it. (Both, actually.) Basically, your money is really already gone (budgeted) to pay the bills, buy food, etc., and you have very little to NO (or less) money to save. This means when you have a sudden expense (car breaks down, roof needs repaired, taxes went up, etc.), you don't have the money in reserve to pay for it. Many cover it with credit cards, and don't realize that the CC companies can raise their rates at any given time, meaning those payments rise, too. And some have payments on a "tiered" basis, so when your owed amount goes to a certain level, your payment doubles, triples, or more, making it even HARDER to save.
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Thanks everyone, that clarifies it.
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