wud it be possible to save if i live paycheck to paycheck??

Philippines
July 31, 2010 10:46am CST
I am now 32 years old with 2 little girls to feed. no savings for their future. no single penny set aside for emergency cases.and in a lot of instances, i live my paycheck from hand to mouth. oftentimes I even got shortages. with the kind of low wages I have with my work it is real hard to save money and set them aside.
5 responses
• United States
31 Jul 10
You could probably save money if you save the money you earned online, that would help, and it wouldn't come from your paycheck. There are lots of ways to earn extra money online, like writing for money and when you get paid you could put that in savings.
@puccagirl (7294)
• Israel
1 Aug 10
I think that is excellent advice in this case ReViewMeMedia!
• Malta
4 Aug 10
Living paycheck to paycheck is tough but I found a way which helped a lot. I found a tin with a plastic lid. I cut a slit in the lid through which I could throw money. I wrapped this tin with a fancy wrapping paper with a bow and used it as a money box. This tin is used as a family saving box and every member of my family throws in each 2 euros we have. This way nobody finds it hard since nobody throws a large amount,we are still saving. From January to June we have saved 400 euros! We are going to use it for a holiday once we have enough. The 2 euros can be changed in whatever coin is decided on but the important part is that you'll be saving something. Hope this helps.
@peavey (16936)
• United States
31 Jul 10
I don't know what your whole situation is, of course, but if you work toward making your money do the most it possibly can, only buying sale items, shopping second hand stores, only shopping when absolutely necessary, finding the rock bottom prices on everything, finding substitutes and alternative ways to do things... you might be surprised at how much farther you can make your money go. If you set aside only $5 each pay check, it will add up. Put it somewhere so you can't get to it easily. Set yourself a goal and work toward that. As another poster said, use your online earnings for savings. There are other places besides myLot that will pay you. Don't ever walk past an aluminum can without picking it up. Recycle when you can make money from it... keep looking and you'll find ways to make extra money.
@puccagirl (7294)
• Israel
1 Aug 10
Of course, any single penny you can save is better than what you have now, so things can only get better. Start by saving small amounts, what you can afford. Always take the small amount you decide on from your pay check first, before you pay any of your bills, go shopping etc. This way, you make sure that this amount is always saved every month. After a while, you will feel the need to increase your savings yourself, since it really is very fun to see your savings grow!
@juneramir (334)
• Philippines
31 Jul 10
For a few years, I went through tough financial times. I was getting further and further into debt, not paying some of my bills and always behind, even on payday.It took me awhile to step back and realize that this situation was all of my own making, due to my own choices and financial habits, and that it was possible to change. Today, things have gotten better, although I’m not out of the red yet. I have begun saving. My answer to your question is very simple. Make a budget. I know, it’s a dreaded word for most of us. But it’s not that hard, and if you set it up right, it’s fairly simple. I recommend using a simple spreadsheet. List all your regular expenses (rent, car,utilities, internet, etc.) and their amounts, and then your variable expenses (groceries, gas,eating out, etc.), and then your irregular expenses (things like car maintenance or medical that might not come up every month, but break them into estimated monthly expenses - if you spend 60,000php a year on groceries budget a 4,000php monthly expense). Now match that up against your income. The expenses should be less. Try it, it actually works for me. Good day :)