Being "destitute" (trying thread again)

[kellynkay]

**trying this again - apparently the computer goofed up the last time I tried to post **

For those living paycheck to paycheck do you think that you are "destitute". My opinion on this seems to vary from others in our area. We are pretty slim in the "cash on hand" department each month & have no real savings, but we do have some luxuries (Directv, Highspeed, Cell phones), we pay all our bills on time, and have no debt other than our mortgage. I do NOT consider us destitute. There are some that DO ~ "one check away from poverty".

Maybe I am just living in my own rose colored world.

Any thoughts?

[hschmid]

I agree w/ you to a point. I'm in the same boat as you right now. W/ my dh's min. hours we are in the red each month. I have cut back expenses as much as he'll let me. We have cable, internet, long dis., and all the guy "toys" he could ever want. The fact still remains that we need extra money. So, I got a job. I was not that thrilled about and don't know if I'll like it, but I had no choice. The only thing I would think that would make you destitute is, what would happen if you had unplanned expenses? A deductible for car ins. if you have an accident, a prescription not covered under ins., a flat tire, etc. I would start a small savings if you can. $5 here and there. I should talk, I don't have a savings either right now. There's always a what if and you'll feel better knowing you have a plan b if your finances change or an emergency.

[stay@homemom]

I do not consider it poverty unless you can not meet the basic requirements of life. You have a roof over your head, food on the table, and clothes on your back. Yes you may not be able to 'keep up with the jones" but are you happy? Money cannot buy happiness. Things may be tight, but no matter how much money you make things can be tight.

[goin24/7]

we live like you kellynkay. Not a lot of cash on hand but we live a comfortable life. We are for the most part debt free, the bills we do have are paid on time if not 1-3 months in advance (ie: phone electric cable etc.) We do have a nice sized savings acct but it has to be a dire emergency for us to dip into it. We also have credit cards with 0 balances to use if needed. I seldom have more than $5 in my checking acct between my weekly paydays, it bothers me only when I want to buy something I really didn't need anyway.

[ember15]

I guess I consider destitute to be more of an extream term. If you have nothing to your name, no potential to earn anything, are forced to accept charity to get by then yes thats destitute.

[Kimberley]

we are in much the same position except we have more debt. we make all our bill payments, and have enough for food and a few luxuries, adn we also have sattelite, cell phones, whatever, and we just bought a newer used car, our other one was crap. but we don't have savings, and we don't have alot of extra cash on hand every month. i to am going back to work, i think, to help out with some of the bills, and savings account.

[allgirls]

My whole opinion of this has changed since dh was fired a couple years ago.

Before dh was fired we had money in the bank (approx 8,000 ready cash and at least $3,000 we could liquidate) and extra money for for "fun" between paychecks. We did have more debt than what u are describing. Dh was not able to find a replacement job until 2 yrs later. In the meantime I went back to work PT(evenings) and dh worked PT (mowing lawns/snow removal). We took home about half of what we made before he was fired. We did better in the summer b/c dh was working consistently and in the winter he rarely worked. In that time we also had another child. We ate through all of our savings and ran up one CC and started on another. When dh found an engineering job it took us at least one year to pay off one CC. We still have not replaced our savings and the second cc is back to where we had it initially. I never considered us destitute but I did so many things that I know alot of others would consider destitute. I went to a food shelf every weds.
What saved us from completely going under is the fact that dh can fix anything. Our transmission died and dh fixed it by himself in the garage. He was also able to hire himself out as a handyman.
I think it is vital to have emergency money. If we didn't have that money I have know we would have had to do something drastic. we also knew we could have asked dh's grandpa for money but only if we were going to lose the house.
I wouldn't consider u destitute but u are one disaster away to destitute.

[Stormy]

To me 'destitute' means no place to live, no job, and no money to eat. Homeless, I guess. To me that's destitute.