Yeah, paycheck to paycheck doesn’t mean you are scrapping to get by, it means your monthly income is about the same as your monthly expenses.
That means it’s not about your income or wealth, just cash in vs cash out. Why this can be misleading is that if you make $300k and are month to month, that means selling assets or filling chapter 11 bankruptcy could fix your finance problems. However, someone with a small income is probably already doing all they can do to survive. Both fit the definition, but their situations are vastly different.
Yeah, paycheck to paycheck doesn’t mean you are scrapping to get by, it means your monthly income is about the same as your monthly expenses.
That means it’s not about your income or wealth, just cash in vs cash out. Why this can be misleading is that if you make $300k and are month to month, that means selling assets or filling chapter 11 bankruptcy could fix your finance problems. However, someone with a small income is probably already doing all they can do to survive. Both fit the definition, but their situations are vastly different.