Fantasy Football - Footballguys Forums
Chemical X

Going paycheck to paycheck.......

Recommended Posts

16 hours ago, Chemical X said:

i came back to the thread to get that clarified, thanks for posting.  so, how do you not get paid when under contract?  isn’t that breach of contract or is something written in the contract?  i wonder how many employees are looking for other work now and will leave, given a new opportunity.  

I believe the contracts often stipulate that a change in statutes or funding voids the contract.

Share this post


Link to post
Share on other sites
12 hours ago, DallasDMac said:

I am a full time WFH employee. My company doesn't pay for my internet at all. I wouldn't trade that for having to go in to work no matter what my internet costs. There's also the trade off of not putting miles on my car, paying for gas, etc. But no, I'm not compensated at all for my home internet.

Can't you deduct the expense or part of the expense on your taxes?  You can deduct the costs for the portion of your home dedicated to home/office (as long as it is dedicated)

Share this post


Link to post
Share on other sites
1 hour ago, culdeus said:

This is one of the chief issues when you offer savings accounts and CDs at basically 0% for a decade.

At the same time debt has been for all intents free.  

Personal savings rate charting like that is self-serving.  It does not factor appreciation in home prices which comprises the overwhelming majority of personal savings.  I would argue quite easily that a principal payment to a home is a savings.  However, this is never comprehended when people put these types of things out.

Following birth rate trends, I don't think housing prices are going to necessarily continue to appreciate.  If you're on the north end in the age spectrum I think you can more safely look at this as a vehicle for savings.  On the young end?  It's one of the main reasons I'm dragging my feet about moving.  Buying high then getting burned years down the road.

Share this post


Link to post
Share on other sites
1 hour ago, Buckna said:

I agree overall. Another thing to remember is that standard of living and perceptions of what Middle Class is these days has greatly changed as well. How many people had more than 1 car back then? Boats, RV's, motorcycles? More than 1 TV? A home computer? A cellphone as already pointed out. The standard house was what? ~1200 sq ft with a 1 car garage? In many areas of the country that's a tiny starter home now except in pricy urban areas. How many homes had heating and air? How many people had kids that went to college in their family?

I think wage stagnation is a major problem but do think it's overblown to a small extent, things are pricier than the good old days but you get a lot more value for your money too. That's often overlooked when people are talking about the financial plight of people today.

If 2 people are working then you probably need 2 vehicles.

Every market is different, but living in my middle class bubble I can't think of a single family that has a boat, RV, or motorcycle.  The friends of mine that do are on the upper end and don't have kids.

The TV and computer point is a fair one, but I think it needs more context.  Many didn't have them years ago because they were relatively expensive.  They're not anymore.  And unlike a lot of things that are of lower quality now they're of higher quality.  I get that I'm a sample of one, but we have 3 TV's and no home computer (1 ipad and 3 kindles).  Total spend over the last 10 years for those items?  Less than $500.

That's comparatively different than your housing and college points, whose prices have soared rather than shrunk as more advancements have been made.

Share this post


Link to post
Share on other sites
35 minutes ago, MAC_32 said:

If 2 people are working then you probably need 2 vehicles.

Every market is different, but living in my middle class bubble I can't think of a single family that has a boat, RV, or motorcycle.  The friends of mine that do are on the upper end and don't have kids.

The TV and computer point is a fair one, but I think it needs more context.  Many didn't have them years ago because they were relatively expensive.  They're not anymore.  And unlike a lot of things that are of lower quality now they're of higher quality.  I get that I'm a sample of one, but we have 3 TV's and no home computer (1 ipad and 3 kindles).  Total spend over the last 10 years for those items?  Less than $500.

That's comparatively different than your housing and college points, whose prices have soared rather than shrunk as more advancements have been made.

I was self employed and struggled for a few years getting it going. We lived on one income (the wife's) from 1995-1998 of less than $60k. We had three kids born during the same time and one diagnosed with type 1 diabetes in 1997. Life was a struggle and we didn't always make sound financial decisions. I owned a motorcycle and a boat at different times during that time frame. Sold them both after owning them for a few years. Both were bought at the right price and sold without a loss. The beauty of living in the midwest is that people don't want to store motorcycles or boats through the winter. So, you can buy cheap in the fall and sell higher (or at least break even) in the spring. Knowledge is power. The first book I ever read about finance was "Your money or your life". Not the latest version that talks about internet and Netflix. The old one that talks about the basics that a person needs to have to live a happy life. I've read it 3-4 times since. Not all of it translates to today's society, but the principles are still just as important. 

 

Share this post


Link to post
Share on other sites
14 hours ago, DallasDMac said:

I am a full time WFH employee. My company doesn't pay for my internet at all. I wouldn't trade that for having to go in to work no matter what my internet costs. There's also the trade off of not putting miles on my car, paying for gas, etc. But no, I'm not compensated at all for my home internet.

But there is a cost offset by not needing to spend money on gas to go to and from work. Depending on the commute and type of car, you may have a net savings. And you get to use the internet for personal use.

Share this post


Link to post
Share on other sites
4 hours ago, MAC_32 said:

This whole phone/internet thing is a weird thing to go on-and-on about.  The point is it's now a need and it costs money.  Some may be compensated for it.  Many aren't.  And it wasn't a need for prior generations.

My argument is that it is not a need. And it doesn't come at the cost of $70 per month. It would be the same as someone saying that they needed to have a car to get to and from work. So, they have to have a $500 car payment. There are cheaper options. Including public transportation that people use every day. 

Share this post


Link to post
Share on other sites
2 hours ago, culdeus said:

This is one of the chief issues when you offer savings accounts and CDs at basically 0% for a decade.

At the same time debt has been for all intents free.  

Personal savings rate charting like that is self-serving.  It does not factor appreciation in home prices which comprises the overwhelming majority of personal savings.  I would argue quite easily that a principal payment to a home is a savings.  However, this is never comprehended when people put these types of things out.

:goodposting:

Share this post


Link to post
Share on other sites
7 hours ago, Psychopav said:

Can't you deduct the expense or part of the expense on your taxes?  You can deduct the costs for the portion of your home dedicated to home/office (as long as it is dedicated)

Probably. I've honestly never dug in to the tax aspects of WFH as it only began full time in the past year or so. Maybe this is the year!

  • Like 1

Share this post


Link to post
Share on other sites
9 hours ago, -OZ- said:

Interesting article from July, seems pertinent

https://www.americanbanker.com/news/consumer-debt-is-at-an-all-time-high-should-banks-be-worried

Between 1960 and 1984, the U.S. personal savings rate — which is savings as a percentage of disposable personal income — never fell below 8%. That level of national thrift is far out of reach today. In December 2017, the personal savings rate dropped to 2.4%, its lowest level since the debt-fueled boom of the mid-2000s.

There are a few charts in article worth looking at. The first being the savings rate, the other being the portion of debt on average.

how do you calculate disposable personal income?  also does savings include retirement/other holdings or just cash?

Share this post


Link to post
Share on other sites
On 1/15/2019 at 8:52 PM, KCitons said:

I don't dislike you because of your opinion. And I'm not trying to change you. Honestly, I wish I was more like you. We are all shaped through a lifetime of experiences. And our behaviors are conditioned. It takes reverse conditioning to correct.

I remember years ago I was in Vegas. There was, what I thought was, a homeless person asking for money on the Fremont Street. I gave him five dollars and wished him well. An hour or so later, I saw him walking down a side street talking on a cell phone. (this was back when cell phones weren't as common). He got into a car that was nicer than what I was driving. I thought to myself "I'm such a sucker".  I don't give money to people that are asking for handouts anymore. That's a conditioned response. 

Fast forward to 3 months ago. I was walking on the strip and the guy walking next to me was a gentleman in his mid 60's wearing a pair of khakis and a dress shirt. He was also wearing Vietnam veterans hat. I thanked him for his service and we walked for about 10 minute talking about his time in the military. He said he had been trying to get a job in the casinos working security. He had been out of work for awhile, but most places don't want to hire someone as old as him. He wasn't bitter, he didn't blame them. He just kept trying. He said things were getting pretty tough and he hadn't eaten breakfast. I didn't hesitate, I gave him $20, told him to have breakfast on me, and wished him luck on his job search. 

Same situation two different results. One I felt taken advantage of, one I felt like I helped someone in need. The difference is I took the time to learn about someones situation. I probably need to do more of that before making judgments.

This one probably should have gotten about 70 more likes.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.