(Closed) How much of your paychecks do you spend?

posted 10 years ago in Money
  • poll: How much do you have left in your bank account at the end of a paycheck?

    Less than $20 (like the article said)

    Between $50-$100

    Between $100-$500

    Between $500-$1,000

    Even more than that!

  • Post # 3
    18627 posts
    Honey Beekeeper
    • Wedding: June 2009

    We automatically put $500 from each of my husband’s paychecks and most of mine into our investment account.

    Post # 4
    7975 posts
    Bumble Beekeeper

    We save less than we’d like right now, but we’re also working hard to pay down debts that we have (educational and otherwise).

    Post # 5
    221 posts
    Helper bee
    • Wedding: March 2012

    I’m an avid saver!  I’m trying my hardest to save up enough to pay for the wedding with cash. 

    I’m also a huge Dave Ramsey fan!  He’ll change your attitude about money in a heart beat.

    Post # 6
    10282 posts
    Sugar Beekeeper
    • Wedding: October 2011

    We don’t live paycheck to paycheck but I know a lot of people who do and it’s pretty stressful for them. Fiance and I have joint finances so my vote was based on both of our paychecks (we get paid weekly). We fall into the $500-$1000 category. 
    ETA: This is after all bills have been paid and groceries have been purchased. We also have an automatic transfer set-up that transfers a few hundred into savings every Friday. 

    Post # 7
    59 posts
    Worker bee

    including savings or just in the day-to-day checking account?

    typically anything not spent on bills is immediately transferred to savings, and a few hundred is left for spending on misc (gas, groceries, coffee, fun) in each of our checking accounts until our next checks.

    Post # 8
    9048 posts
    Buzzing Beekeeper
    • Wedding: June 2010

    Currently we apply my entire salary ($3000/month) over our regular mortgage payments to build up equity toward a downpayment for our next house.  We also put another $500 to retirement savings (RRSP, not a bank account, so I don’t know if that counts??), $200 to emergency fund and $300 to vacation savings.  So, $2500 per two week period goes to savings of some sort.

    But no, we don’t have any money that’s not accounted for at the end of the month just sitting in our chequeing account.

    So yeah, I didn’t vote because I don’t… understand the question.

    Post # 10
    156 posts
    Blushing bee
    • Wedding: June 2011

    Well, I wouldnt say that I live paycheck to paycheck since I have a savings account and contribute $100 or more dollars to it every month, but I do put the rest of my check towards paying off debt.  Because of that, I dont keep a lot of money in the account just to spend…maybe $100-150 for gas and little purchases that I need.

    Post # 11
    418 posts
    Helper bee
    • Wedding: June 2014

    You should make these percentages. The poll doesn’t really make sense, because someone that spends $500 of their $1000 paycheck is much different than someone spending $1000 of their $4000 paycheck.

    Post # 12
    3048 posts
    Sugar bee
    • Wedding: January 1991

    Woah, I think it’s scary to live from paycheck to paycheck. I can afford to save a lot of my check. My fiance can’t though, so he lives paycheck to paycheck for the most part (he blames it on all my dates… yea yea). I’m the thrifty one in the relationship so I’m sure we’ll compromise after we get married–we are definitely saving… so we’re gonna have to make a pretty good budget! Even if it’s only $10 a month.

    Post # 13
    3048 posts
    Sugar bee
    • Wedding: January 1991

    View original reply
    @bananarama: I see the margin of difference. But still, whether you get paid $4,000 or $1,000 if both have $20 left… they are living paycheck to paycheck. One might be buying more expensive things that they may or may not need, but it’s still using most of the paycheck.

    Post # 14
    418 posts
    Helper bee
    • Wedding: June 2014

    View original reply
    @kperry3: Oh, you’re right. The title says “How much do you spend?” and then the actual question is “how much do you have left in your bank acct?” I was confused, thanks!

    Post # 15
    1831 posts
    Buzzing bee
    • Wedding: December 2010

    I get paid every week, which is nice because I’m assured income every Friday. At the end of the week whatever I didn’t use of the paycheck I put in our savings account. It’s usually a few hundred dollars per paycheck. 

    Post # 16
    4822 posts
    Honey bee

    I put automatically 50% to our joint checking and what we dont spend accumulates there, which isnt a lot right now with the wedding.

    about 15% to savings immediately transferred

    about 15% to personal loans (schoolm car). That leaves 20% for personal purchases which I usually spend most all of it. 

    I dont know what percent FH saves of his exactly each month.  Probably about the same %. He tends to buy the large ticket items since he makes more so it evens out.

    So, definately not paycheck to paycheck and we could save a lot more if we were a bit more frugal (although not too bad) and werent paying out for the wedding.




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