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Paycheck to Paycheck....What will it be like for our kids?

post #1 of 9
9/20/04 at 12:34am
Thread Starter 
Statistics show kids will follow the path of living paycheck to paycheck, stressed out and debt ridden. How do you feel about this? Do you think we can stop it?
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post #2 of 9
9/20/04 at 1:16am
I'm not surprized. I plan on teaching Lys to save money and how to budget (things I am horrible at) but I believe that if you budget what you have (and NEVER get a credit card) you don't have to live paycheck to paycheck. as Kev says you have to learn to live within your means.
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post #3 of 9
9/20/04 at 1:19am
Thread Starter 
Jimmy and I were talking about this today and he said he is going to do is best so Alisha will not have to live that way. I am so glad he feel the way he does.
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post #4 of 9
9/20/04 at 1:21am
I think thats great as long as its not a case where you give your child everything and they never have to earn it or learn how to spend wisely. If by doing your best meaning helping them out if needed and teaching them financial responsibility - then that's great!
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post #5 of 9
9/20/04 at 1:23am
Thread Starter 
I am sure that is what he has in mind. Good question to ask. I would want to learn that is for sure.
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post #6 of 9
9/20/04 at 9:29am
I know that we live paycheck to paycheck and i definately would love to teach logan how to save his money

growing up i never even knew when payday was for my dad.. if we wanted something, we just got it. no worries.. i think that is one of my reasons for being so bad with money. If i want it i will find a way to buy it.. no problem spending bill money right?
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post #7 of 9
9/20/04 at 1:34pm
Thread Starter 
Andrea, I do know what you mean. I lived in a house when you say boo here is the money. I never thought that we were rich but we never had to worry about anything.
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post #8 of 9
9/22/04 at 6:05pm
I definately plan on teaching Alexis and Devin financial responsibilities and so forth. Definately the wonderful thing called Saving!!! Something I didn't do. My parents taught me very well but I just didn't listen about the credit cards (which are almost paid off now!). I started working at 16 and had a few bills I paid and it helped. I am not in the best spot now, which partly has to do with the divorce and being single. Hopefully soon!!!
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post #9 of 9
9/22/04 at 8:11pm
I would hate to see rhyne live paycheck to paycheck, but I don't doubt that she will I think almost everyone does at some point in their lives. We are teaching her to save her money and still have fun without it.
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