http://www.twincommas.com/tired-of-living-paycheck-to-paycheck-reduce-your-income Wealth, Money, and Entrepreneurship Mon, 23 Jan 2012 19:50:30 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.twincommas.com/tired-of-living-paycheck-to-paycheck-reduce-your-income/comment-page-1#comment-373 Darrell Place Mon, 04 Jul 2011 14:59:10 +0000 http://www.twincommas.com/tired-of-living-paycheck-to-paycheck-reduce-your-income#comment-373 Kevin & Shawn are both right and wrong at the same time. I have discovered paying down the high interest debts & not saving is a catch 22. You're paying down the credit card bills and feeling good. The first unexpected expense - car repair - family emergency, you need to use the credit card again as you STILL haven't started saving. It become a viscous circle. If you can't start out at 10% start small. Say four percent, 2% into long term savings & 2% into an emergency fund. Increase it by 2% every three to six months until you reach your goal. Kevin & Shawn are both right and wrong at the same time. I have discovered paying down the high interest debts & not saving is a catch 22. You’re paying down the credit card bills and feeling good. The first unexpected expense – car repair – family emergency, you need to use the credit card again as you STILL haven’t started saving. It become a viscous circle. If you can’t start out at 10% start small. Say four percent, 2% into long term savings & 2% into an emergency fund. Increase it by 2% every three to six months until you reach your goal.

]]> http://www.twincommas.com/tired-of-living-paycheck-to-paycheck-reduce-your-income/comment-page-1#comment-217 Shawn Sun, 15 Aug 2010 22:23:48 +0000 http://www.twincommas.com/tired-of-living-paycheck-to-paycheck-reduce-your-income#comment-217 I hear you Kevin. But you are probably getting a better 'return' by paying off any interest bearing debts (esp. credit cards) right now than putting money in a savings account. I hear you Kevin. But you are probably getting a better ‘return’ by paying off any interest bearing debts (esp. credit cards) right now than putting money in a savings account.

]]> http://www.twincommas.com/tired-of-living-paycheck-to-paycheck-reduce-your-income/comment-page-1#comment-216 Kevin Sun, 15 Aug 2010 21:06:28 +0000 http://www.twincommas.com/tired-of-living-paycheck-to-paycheck-reduce-your-income#comment-216 I understand your suggestion about direct deposit.My issue is that I am catching up on overdue bills and putting that 10% away would make difficult to cover the bill payments,and even now without putting away the 10% after I pay the bills I have no spending money left for myself. Do you have any suggestions? I understand your suggestion about direct deposit.My issue is that I am catching up on overdue bills and putting that 10% away would make difficult to cover the bill payments,and even now without putting away the 10% after I pay the bills I have no spending money left for myself. Do you have any suggestions?

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