November 21, 2014
If you’re living paycheck to paycheck, you are certainly not alone.
According to a recent survey, 61% of workers live paycheck to paycheck. In addition, the Brookings Institution has reported that 38 million households are living paycheck to paycheck.
Though money may be scarce for many, there are still ways to save. In a recent discussion with WLTX reporter Andrea Mock, NASBA Vice Chair Donald (“Donny”) H. Burkett, CPA, said the first thing anyone living paycheck to paycheck should do is create a budget.
“A budget is like anything else, it’s a goal,” said Burkett. “You’ve got to have some goal for how much you want to spend, and decide how much money you do have to spend.”
It also helps to steadily build an emergency fund. Burkett said it’s important to try to set aside a fixed dollar amount each pay period and have it directly deposited into a savings account.
For more of Burkett’s tips on how to save money, watch the video below:
Burkett was selected March 31, 2014 as the Nominating Committee’s candidate for NASBA Vice Chair 2014-2015, to accede to NASBA Chair in 2015.
Burkett previously served as chair of the South Carolina Board of Accountancy. During his 12 years on the Board, he served as chair (2007-2009), vice chair (2005-2007) and secretary (2004-2005). He has also served on the NASBA Board since 2009. He is a founding partner and executive vice president of Burkett Burkett & Burkett, Certified Public Accountants, P.A., which has three offices in South Carolina.
Burkett has also been recognized by Money Magazine as one of four best tax practitioners available for middle and upper-middle income taxpayers in South Carolina.
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