Paycheck-To-Paycheck
Categories: Financial Theory, Econ
Sadly, this is how a lot of America lives. They can never get ahead of payments. And when they finally do, they're so hungry for a something-nice...that they buy a shiny new car, and are then in hock to The Man for years thereafter.
Paycheck-to-paycheck means that if they miss even one paycheck, i.e. the next one, they'll get kicked out of their apartment, can't eat, can't gas up their car, can't pay their cell phone bill...and everything cascades fast into bankruptcy.