How to avoid living from paycheck to paycheck

[Augusta]

Getting salary today and finishing it before the next salary shows you would always be broke if you don’t take charge of your financial life. The thing is that these monies don’t just leak out from your pocket, you have been doing the spending yourself. It can really be bad for you if you do not stay on top of your bills. You need to know that bills would always accumulate as long as you allow that. If you are in this rot, you are not alone the best bet is to get off it. You don’t have to allow yourself get stuck in this cycle. The only way out is to work towards having a hold of your financial life to fight this problem.

Below are the right steps you can take to fight this:

First start by getting a budget, budgeting helps you channel your money properly and you wouldn’t have to go beyond your budget for the month.

Always be about the needs you can’t do without, go for your food, utilities, shelter and transportation first. Every other thing can wait still when you have extra money unless it is an urgent need.

Kill the urge of wanting to borrow, live within your budget what you cannot afford now wait still you get extra money for it

Augment your income with a side hustle, so that you would have extra money to help with other expenses

Have a financial plan and stick to it, don’t just wake up to go for a purchase that you didn’t plan for.

How do you live by your paycheck?

 

[Jasz]

Living from paycheck to paycheck is no fun. You never have any money for fun things, you spend way too much time thinking about how you're going to pay your bills each month, and it's hard to save up for anything big like a new car or a house.

We know this because we've been there. That's why we want to share some of the techniques that helped us break the cycle.

1. Get a clear picture of how much money you're actually spending each month

Track every single expense for two months, and then see where you're spending the most money—and where you could cut back.

2. Put yourself on a budget

Once you have an idea of what your expenses are, set up a budget that accounts for each category of expenses and leaves room for surprises (like when your car breaks down).

3. Stop using cash unless you absolutely have to

You'll waste less time at the grocery store cashing out with cash if you just use your debit card, and it's easier to keep track of what you're spending when everything is centralized in one account rather than spread out between several wallets and purses (who even has time to do that?).

 

[Augusta]

You are right about going about without cash most of the times. I noticed this even withing me that the more I move around with money in my pocket the more I spend on things I never budgeted for. you know one thing about having money and seeing some fancy things that can delight you, it will make you want to buy and you might even regret the purchase later. Living paycheck to paycheck is all our fault and until there's a permanent change that will still remain. People need to stop draining themselves financially from spending on frivolities. Unless the money isn't just enough but if you are making good money you should do better with your spending, it for your economic good.