Anyone else struggling financially? I feel like my friends think I’m rich with my job but I still basically live paycheck to paycheck...

I would start by asking the government where 50% of your paycheck goes ... then trim back your lifestyle. Out of college I made 19k no benefits. Yeah it was a long time ago but for 2 years I ate rice and tuna fish because I figured out I could eat that daily for all meals and live for $2,19 cents. My parents gave me a waterbed, it froze cause I couldn’t turn on my heat. I’m the end I couldn’t do it by myself so I ended up in a 400 square footer with a roommate to get buy. I went out once a week on Friday with my friends as there was a place with $2 pitchers of beer. Yea it was bad, but now I need nothing and live very cheaply. Just keep cutting back it’s not that hard when you think about what you really need and look at every way to save money. In the end if you do it right you will have the conversation I had today. A Director of mine told me the car I drive is too cheap. I need a better car, people notice and I can’t take a client anywhere and get respect. I can get laid off tomorrow and live for 20 years. Not because I am wealthy but because I don’t waste a penny ... no designer coffee, cigarettes, eating out or fancy cars. Drink during happy hour and get the special and be happy about it... I am

Having worked as a dish dog in family restaurants before landing my first “white collar” job as a fed (tongue in cheek) where I made $15k/year...I recall thinking how rich I became at that point, only to be blown away when I started making $46k.

I have come to believe that earnings and lifestyle cycle is an awful lot like computer memory. I remember the sense of vastness when I upgraded my PC to 250MB. “I can’t possibly fill all that space...” Like computing memory, we never seem to be able to make enough $$, unless or until we can redefine what “enough” means. It starts with a clear-eyed view of where your money goes today, what you really need vs want, and what you need and want tomorrow.

The “AMERICAN dream” is rarely an overnight sensation. It sounds sappy, but I find that I really do appreciate and value the things I work hard to achieve. Just need to decide when to stop working your butt off and jump from the merry-go-round.

I don’t fully understand comments like this bc so much of that is in your control. I worked in nonprofit after college and made $35k a year in Boston - I had 4 roommates, my bedroom barely fit a queen size bed, and I had to take a bus then the subway to get to work, but I was able to make my student loans, car payment, rent, and utilities and still had money to do things with friends (obvs only happy hour deals and such, but I was 23 so who cares). You have to design a lifestyle that you can actually afford and live within your means

I used to work in industry, I was living paycheck to paycheck after rent and little savings at at 27. I knew that I had to switch companies/job to make an income that is aligned to my financial goals. I spent 8 months researching jobs, revising my resume, interviewing for different companies/firms in different locations and different roles. I got a 45k bump in salary when I joined Deloitte and my salary continued to increase as I progressed in my career. I am not saying you should jump to a different firm/company as I believe you have great income potential with Deloitte, but you can always interview and see if you find anything better. Don’t get discouraged!!

I am totally rich by all measurable standards but I agree OP- I also am unable to make ends meet each month due to high COL (which we chose for proximity to work and healthcare), childcare, and healthcare costs for one of my kids’ chronic illness. It’s very weird to make as much as I do but be unable to go out to eat, put gas in our car, or turn the air conditioning to a comfortable level. I’m grateful I make what I do though- otherwise we’d be adding a multi hour commute and even crappier doctors on top of it.

I am a bit, but it’s because I also support my parents financially each month and have a baby

🙋🏽‍♀️

yes - basically living paycheck to paycheck. pricey city + student loans + have to support family makes it impossible to save

Totally feel this. Living in a HCOL city fresh out of UG with no savings and student loans to pay off. People talk about having thousands saved and I’m confused because we make comparable salaries — and then I find out their parents paid for so much of their stuff 🙃

YNAB my dude

It's because everyone has a different definition of "rich."

An analyst making $65k looks at a Senior making $100k and thinks that's a lot of money. A SM making $250k looks at a PPMD clearing $1M and thinks that's the life, and so on, and so on. Live the lifestyle you're comfortable with, and remember you can't take it with you. We all work hard for at least that much!

Budget and eliminate unnecessary spending

It’s not about how much you make. It’s about how much you keep. Trust me on this

I live paycheck to paycheck and constantly put more and more on our credit cards. My husband and I together make a good amount but it’s never enough. We live in NYC and just the constant expenses, kids expenses, daycares, after school costs, medical bills, credit card debt, etc just eats all of our paycheck on a monthly basis. No idea how to dig ourselves out of our constant financial mess. On top of everything else we are having a 3rd kid. Yeah I know crazy. I know we need to move out of this expensive city but all of our family is here and I wanted my kids to grow up with grandparents.

Grow up in 3rd world country, poor family, bad education, gov tells you what to do, gov controlled economy, media and all works for one person, The president but i had a dream to live a better life

I self teach myself computers and programming, I had to walk for miles to save bus fare, I had to eat one meal a day, no such thing as going out with friends or anywhere, and did that for years

I lived in 5 countries and worked hard to get a degree in UK (no such thing as student loan)

Long story short ... Now I’m making decent money and have 5 kids, I’m financially struggling because I’m building a house for my family. I look back and I realize my problem today with 20 or 30k where only 7 years ago I used to walk 2.1 miles to save $3.75 ... then I laugh

Prioritize your expenses and keep going, this will make you stronger, life is a struggle and it’s about the journy not the destination

Let me walk you through it.
I grew up with no access to financial literacy as my parents didnt have it and it wasnt taught in school. Had been told they would cover uni, however after 2nd year started said they actually couldnt, and suggested I get a credit card to pay my tuition.
I managed to get a low interest rate loan and struggled by for another 2 years with a part time job accruing debt, realized it was unsustainable and dropped out, and did my best to educate myself on financial management.
Worked for 2 years in the kind of job you can get without a degree, paid down my loans to a manageable 10k, and went back to school PT while working FT busting my ass though still ending up with a debt load back up to 30k
Graduated a science degree with honours - smack in the middle of a recession and dead job market. Managed to find another underemployed, avg paying job, lived *well* within my means, knocked my debt in half... then had health problems that took me out of the labour force and accrued more debt to stay housed and fed.
Found an opening in consulting that necessitated moving to a higher CoL city, decided the career path potential vs my dead end job made it worth it.
I make less than my peers because my wonky career history means I dont have as much leverage and had *no* bargaining power when I started. I don't have a car. I cook at home, go out drinking maybe once or twice every couple of months, mostly all networking related. I buy almost all my clothes second hand.
Been at this for 2 years now, making payments against principal, with almost a months worth of expenses in savings that would get wiped out in a single emergency or unforeseen problem.
Am still living paycheck to paycheck and will be for another one to two years until I've rebuilt a resume that supports a jump for higher pay. Home ownership is miles away until I have a manageable DTI and can actually accrue a down payment, so I'm stuck watching my money swirl down the drain of an overinflated rental market. I'm eyeing less costly cities but it would have to be a job with a resettlement allowance as I dont have savings to cover moving costs or time unemployed.

If you seriously cant wrap your head around how people could be financially struggling in this job, you're not nearly as world wise or intelligent as you think you are.

Same!!!!! It’s so annoying they think I’m rich

Regardless, here are some tips:
-slow cook spiced lentils - so healthy, filling, and cheap
- a lot of beans (79 c / can!) nutritious and last long. Notice I’m only putting things that last a long time as we travel
- boxed Mac and cheese. I’m not proud
- I did this for 2 months and spent ~$400 / month in NYC and I wasn’t traveling. Oh and free office food! And if you HAVE to buy lunch out or something get something HUGE (big salad, &pizza) and eat it the next day too. Then it’s like $5 / meal.
- set a REASONABLE long-term plan don’t do what I did for long-term. Give yourself entertainment and nights out with a long term budget.

Maybe you need to switch apartments or give something big up if it’s really bad though.

If you live paycheck to paycheck and don’t have extenuating circumstances like you supports parents, kids, etc then that’s your own fault in my opinion. I’m 25 and I see so many of my colleagues constantly out drinking, eating, partying essentially not saving anything at all

What is your Total comp OP? And expenses

OP, I feel your pain... I was you before I paid off my massive six-figure loans a few months back... you’re far, far from alone. Don’t know what your expenses and obligations are, but if it’s debt, know that there is a light at the end of the tunnel.