Living Paycheck to Paycheck – How to Gain Traction
If you have never had to live paycheck to paycheck, consider yourself very lucky! Counting down the days till your next paycheck or wondering how your going to put food on the table before you get paid is hard! Figuring out ways to get out of that situation is even harder.
If you are living paycheck to paycheck there are some ways to make life a little easier. Maybe even gain you a little traction in your budget.
Here are a few tips to help you stop living paycheck to paycheck!
1. Create a Budget – I can not stress this one enough! You need to make your money work for you. Every payday make a budget and write down everything that needs to get paid. There is nothing worse than over spending at the grocery store, gas station or on fast food only to realize you don’t have enough money for the important bills. You can read my tips on How To Create A Budget here!
2. Stock Up on Sale Prices – When you find an awesome deal, stock up! Get as much as your budget will allow. Buying things your family NEEDS (not wants) at a sale price will free up room in your budget in the weeks to come. You can find the latest stock up deals posted here in the stockpile section of the blog!
3. Start a Savings – Okay, this one is easier said than done! Having a savings account isn’t always practical when you are living paycheck to paycheck. However, finding ways to save even a few dollars every week will add up. Do not set your saving goals to high to start with. Make a goal of saving $5 a week to start with. If you can do more great, if you have to do less one week then so be it. You can join us in the 52 week money challenge, where you save a little bit each week!
4. Say NO! Say no to credit card offers, expensive lunches with co-workers and other things that your budget just doesn’t have the room for. Do not get caught up in keeping up with The Jone’s. Saying no, starting a savings and using a budget will get you to the point where you can say yes more!
5. Negotiate – Call up your creditors, cell phone provider, cable and other services. Let them know money is tight and you are considering canceling service. Ask them if there are any lower packages or promotions you can get in on. Even saving a few dollars a month will add up.