The law of easy come, easy go with your pay check.
August 19, 2017 2:11pm CST
If you are earning 15 dollars an hour you will spend it the same way every week, two weeks or every month, depending on the pay periods. If you are earning 35 dollars an hour you will do the same on a different level. One person who earns half as much as the other person per hour and works the same number of hours per week or per month, will spend according to their ability to do so. But the law of easy come, easy go, plays a part in all of this. I know people who are earning 75 dollars per hour and those who are earning about 35 dollars per hour and people like me who live on much less, and we all have the same situation by the end of the spend. You tend to spend as much as you earn in the same time period. Either you are saving money, putting it away until you can build up enough to really do something constructive with it, or an emergency, whatever. Or you can spend it as fast as you earn it. Take for example, the guy who earns 75 dollars per hour. He gets paid pretty good but to keep earning this amount he has to buy supplies to keep his company running and pay wages and taxes and that can end up evening it all out by the end of the day. Take for another example, the guy who earns about 35 dollars per hour. He works as an employee of a company and does not have the same overhead to maintain, just his own personal taxes, insurance and bills to pay for a home and a family and so on. The only thing that is different at the end of the day for him and the guy who earns 3 times what he is taking home, is maybe possibly, this guy who is earning 35 dollars per hour, puts away half of his earnings in a savings or certificate of deposit earning him interest or perhaps he invests his money in stocks and bonds. Cool. But most people seem to manage to keep a minimum a bare minimum of savings in the bank or in cold cash on hand, and live pay check to pay check. This is what I have learned over time. You who may be living right now on or below the US minimum wage and not have a partner or mate, wife or husband who also earns money every week or 2 weeks or every month who splits the bills with you and as I look into this more and more I realize that two people, married or just living together, sharing rent and expenses, often end up with only a bare minimum put aside for future use. If you are in this category, making minimum wage or under or a little over and have spent practically everything on food, rent and gas and beer and cigarettes and vitamins and the basics, TP. parking and maybe toll fair, you might do well to think about getting rid of that smart phone and internet account. The money you spend in 10 years for that piece of junk called a cell phone would practically pay for some vacation time or better yet, pay for your own funeral expenses without paying monthly life insurance. But then you would have to get a life without the internet, like learn to read a book and thanks to Bill Gates and Steve Jobs, those options don't seem to be on the table with most of the zombies. Yes. I admit to being one. An internet junkie, with no savings and no money put away to put me away. It is more like this with people who actually make good money. Nobody is immune to the law of EASY COME, EASY GO.
4 people like this
• Dallas, Texas
@TiarasOceanView , Yea, people spend money on stuff they don't need, over pay for car insurance and burial plots. Its such a waste. If I had all the money wasted on interest on former credit I would be driving a new car today. I might even have a new roof on the house as well. But hind sight is 20/20 and well don't do any good to live in constant regret of could have, would have, should have. I am glad I can still afford a can of pinto beans.
• Dallas, Texas
I am not so happy about my money. I am always in need of things I can not afford. I have never been paid much over the minimum wage, even when I was working for the engineering department of Herman-Blum Consolidated Engineers, during my college years.
• Legaspi, Philippines
I am trying to be thrifty considering that I am earning less but I still have to work on the side. I would appeal to my housemates to at least try to save on electricity and water consumption so that we can at least use those amount for other needs. But they seem to forget most of the time. What I am trying to do is to find other ways to earn but my time is also limited.