Comments on: Live on Less Income – Give Yourself a Voluntary Paycut

By: Ryan

Ryan — Sun, 12 Sep 2010 14:13:12 +0000

Kerena, you’ve got a great attitude toward this situation. I wish you, your family, and your company the best!

By: Kerena

Kerena — Fri, 10 Sep 2010 20:47:55 +0000

For me, it wasn’t voluntary. We got the notice in our paychecks that we will have to take a severe cutback in hours in order for our employer to stay afloat. I have been thinking about and working towards downsizing mywork hours for a while now in order to spend more time with aging loved ones. My boss saw it as having to put people on unemployment until things improved – I see it as a chance to live.

By: Jeff

Jeff — Sat, 20 Oct 2007 18:23:03 +0000

I think this is pretty solid advice. I started this a couple months ago. I am working on building an emergency account right now, and once I get that built up, I will start putting the extra money into retirement funds.

By: Ryan

Ryan — Fri, 19 Oct 2007 03:51:17 +0000

I’m glad you enjoyed it. If you haven’t read NCN’s post, I recommend it as well – that was the inspiration for this post.

Working this situation out on paper (or at the minimum, in your mind) is a great way to try and realize how you would be affected by an income change. Doing this in real life is a great way to get ahead!

By: Thrifty Penny

Thrifty Penny — Fri, 19 Oct 2007 03:07:53 +0000

This is a great hypothetical situation! My creativity is working overtime to combat the situation. Great post!

By: Ryan

Ryan — Wed, 17 Oct 2007 11:16:14 +0000

Mark from Smart Investing,

I’m glad you like the tips. And actually as far as spending less money goes, I have found that once we cut out a lot of little things, we really didn’t miss them. In my opinion, we aren’t “doing without” anything that we need. And we are much happier!

Mark McGuire,

We still have our mortgage, but that was not enough to hold us back from doing this. Ultimately, not having any consumer debt gave us the freedom to take a lower paying job in exchange for better hours and more time together. We are fortunate to be in this position.

By: Mark McGuire

Mark McGuire — Wed, 17 Oct 2007 01:16:54 +0000

So true, especially if you have no debt, what is holding you back?

I have been able to simply resign from my previous employers who “assumed” I would be working for them forever but never recognized my efforts.

With no debt and living below my means, I was easily able to move on and find new employment every time, usually within 2 weeks.

By: Mark from Smart Investing & Money Management

Mark from Smart Investing & Money Management — Tue, 16 Oct 2007 21:26:22 +0000

It’s usually much easier to learn how to spend more money. Excellent points on how to learn to live on less.

-Mark