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How to Stop Living Paycheck to Paycheck

How to Stop Living Paycheck to Paycheck

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Getting a handle on your financial situation can help you to stop living paycheck to paycheck. It can be frustrating when something goes wrong that requires attention of your finances, especially if the funds are not there.

Steps you can take to stop living paycheck to paycheck can be taken. It may seem impossible while you’re stressing over the situation. It can be done and you have the power to take control of your money. A good rule of thumb in this situation is “if you can’t pay cash for it, then you might not really need it”.

How to Stop Living Paycheck to Paycheck

  • Make a budget​ – Once you have every expense written down with all accounted for it will be easier to save money. You’ll know what bills come out and at what dates, you’ll also be able to see where the budget can be cut.
  • Live on less than you actually make​ – this is a big one! You’re not going to get ahead trying to keep up with your friends or the rest of the world. Tell your money where to go, this goes hand in hand with your budget. You can even give Dave Ramsey’s envelope system a try, this will help you stay up on your budget while letting you see where your money is going and how much you have left.
  • Cut spending​ – You can start by taking lunches made at home for the day. Try combining any errands that need to be ran to save gas; this will also help get your calendar in order as well. If you would still like to indulge in activities you look for free entertainment. Try cutting out any subscriptions and/or memberships you aren’t using, you can always start again if you’re missing them when money isn’t so tight or you may not miss them at all.
  • Look for ways to increase income​ – To stash back a little extra money you can fall back on a skill you already have or you could try your hand at learning a new skill. Taking the time to look through items no longer used or needed can also help produce a little more income. You can try selling the items online or even at a local consignment shop. If you are in the corporate world then you could ask you boss to apply for a promotion.
  • Lower the thermostat​ – By lowering your thermostat a few degrees in the summer and winter will help cut cost from your energy bill.

It is important to remember living paycheck to paycheck probably will not last forever so you are no stuck unless your willing to be. Some of these methods may take a little time but don’t give up, you will get there. Making little sacrifices now are going to help you with your overall long term goal. You will not fail as long as you focus on having a bright future and keep the end goal in sight…everyone can do ANYTHING for a short time and that, my friends, is How to Stop Living Paycheck to Paycheck.

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