How To STOP Living Paycheck to Paycheck

How To STOP Living Paycheck to Paycheck

Ahh! Don’t spend any more money until we get paid on Friday!    Does that sound familiar?  If you’re living paycheck to paycheck, it probably does.  In this video I am going to show you 5 steps towards obtaining financial freedom and eventually stop living paycheck to paycheck.  If you’re living paycheck to paycheck or struggling to pay your bills, I believe that this video will be helpful for you.  

If you’re living paycheck-to-paycheck, it’s nothing to be embarrassed by.  Nearly eight out of 10 workers live paycheck to paycheck. But you don’t want to be average.  You were put on this earth to achieve extraordinary or should I say extraordinary things.  Breaking the paycheck-to-paycheck cycle takes discipline and a plan.  I’m going to cut the chase and get right to it. But before I do, If you’re new to this channel and you’re looking for ways to save, make money, and to enjoy your life on a budget, please take a moment to subscribe to this channel.  Here are 5 steps to stop living paycheck to paycheck, let’s get started.

The first step is to Acknowledge the Problem

I was in these very shoes once upon a time, waiting for that next paycheck to come in so I could cover the required bills and then spend some more.  Living paycheck-to-paycheck is a problem of your own creation. This is actually one of the most important steps that most people can not do. So many people live in doubt, or misinformed or uneducated because they see people throughout their whole lives living in debt, that it has become the status quo or the norm.  I am going to assume that you have already gotten to this step because you’re watching this video, I’m not sure if you were online searching for it, or it was recommended from another video, but the point is that you acknowledge the problem.  Maybe I’m overspending. Maybe I have no control when it comes to money. Maybe no one has ever taught me about finances. Maybe I have reached a place in your life where living on the edge sucks.  And it’s once you acknowledge there is a problem that’s when you can begin to cast your vision.


Cast Your Vision

Find your Why.  When you realize WHY you are doing something, that is when you discover your purpose, your drive, your motivation, your reason for living, your reason for breathing, and what it’s going to take to achieve your goals.  Having purpose is a powerful weapon that can propel you forward through any situation! When you’re fully paying attention to your goal and what it takes to achieve them, you start to notice things shifting and happening in your favor.  Once you cast your vision and discover your “WHY” and why you no longer want to live paycheck-paycheck, you have to get fired up and find your motivation.


Find Your Motivation

A cheetah is one of the fastest land animals in the world.  A cheetah has a top speed of 75 mph, and averages out at 60.  It’s prey, the gazelle, has an average speed of 40 mph. However the gazelle survives almost 75% of all encounters due to the strategy of pronking and bouncing.  The reason that the gazelle is successful is because he’s motivated. The cheetah is just trying to have lunch, while the gazelle is trying to stay alive! Talk about motivation.  You may ask, what does this have to do with how to stop living paycheck to paycheck?  Take the gazelle for an example, the gazelle has a strategy to survive. With our money we must start creating a strategy, a plan for our money.  That’s what we would call creating a budget. 


Create a Budget

No matter how much money you make, if your expenses are greater than your income you will be living paycheck to paycheck.  Most people are afraid to analyze their current position because they’re AFRAID of what they might find. But, If you want to succeed, you need to set goals. Without goals, you lack focus and direction. Goal setting not only allows you to take control of your life’s direction; it also provides you a benchmark for determining whether you are actually succeeding.   Setting goals gives you a figure to aim at. Zig Ziglar says it best “If you aim at nothing, you will hit it every time”. Set checkpoints along the way. The best way to stay on top of your budget is to record all of your expenses and income on your budget form. The budget should serve as your roadmap to reach your goal.  Cut your spending. Find ways to save money in housing, transportation, and find ways to cut back on food.  Don’t be foolish about it by eating unhealthy, but maybe you can explore different options (like cooking at home and meal prepping).This will free up money enabling you to get out of debt and you can put it into an emergency fund. Once you pay off your debt, you will have more money to spend each month (It will be a raise within itself).  You can always look at different ways to increase your income.


Increase Your Income

There are a lot of different ways to do this.  I have many videos that talk about different side hustles.  You can consider starting a low cost start up business or picking up a second job. Maybe you’re good at math, why not tutor someone who could benefit from your services.  I play the piano and I run across people everyday who would like to learn how to play the piano. If you want to succeed in this area, DON’T FOCUS ON THE MONEY!  You may say, what you mean don’t focus on the money… Focus on providing value.  Once you focus on providing a great experience the money will reflect the service that you provide.

Best wishes on overcoming your challenges!  What are some advice that you can leave with the community on how to stop living paycheck to paycheck, drop those in the comment section below.

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