10 Steps to Stop Living Paycheck to Paycheck

7 in 10 Americans live paycheck to paycheck. But you don’t need to be one of them.

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[AbbeyStorm]

Americans make plenty of money. We're so rich by most countries' standards, yet we're constantly comparing ourselves to people who have more, so it's never enough.

[vondrabejot]

1. Believe it is possible.
2. Don't wait for money.
3. Make this the life change you want most
4. See the benefits of owning less.
5. Sit down and do the financial math.
6. Admit that you probably spent more on non essentials.
7. Put your savings into a different account.
8. Embrace a no spend period.
9. Don't be afraid to consider drastic changes.
10. Be gentle with yourself and give yourself time.

[galbalut]

I don’t eat out. Buy my food at the produce section of the grocery store. Huge savings by doing this one thing.

[sweetcandy]

The NO SPEND period really works! I'm on my debt free before retirement journey right now and I started doing the spending freeze in January 2023. For almost 6 months now I've only been spending my income on food and bills. NOT buying anything else!!!I do a budget on food and really use up all stuff in the pantry and fridge before doing my grocery ON LINE!!! No more grocery shopping in the store! I have a strict shopping list of essentials only! I also stopped buying bottled water and started making my own bread and pastries. It's just so amazing to see more money coming in towards savings and paying off debts!!!

[nicky]

The no-buy month turned into many for us! It was so eye opening and motivating.

[MarkelBeverley]

I'm a (single) 27 year old clinical psychologist. I make close to $100, 000 per year and I drive a pre-owned 2012 Toyota Prius (Great condition), I live in a $1, 500/ mo Condo in NC and don't wear names brand clothes. What you speak of is true sir. Also the strategies and practices you mentioned have definitely helped me save over the years.

[habilgaraad]

I live in somalia Mogadishu for me if I get paycheck to paycheck it will be Iike I life in the heaven because we are facing hard times extreme poverty drought fighting no consistent electricity no safety no medical but I am looking upward and thinking where I can survive. that my kidneys are beating like my heart because of empty stomach and some times long time you don't get food but when you found that food you vomit
But at least i have hope because I am not dead

[DavidDavisDH]

I use to be like this I was younger, now I'm way better with money. I'm just not impressed with a lot of material items anymore. Having a budget and having patience is something I had to practice over time.

[raquel]

what started as a want we began to think of as a need---yes, this right here, I realized it when my Amazon purchases were turning into 500 a month...and I always thought of that as where I got "necessities". I am on a spending freeze from there for the next 90 days, and I will see if I ever think it makes sense to go back

[candy]

I’ve been budgeting per paycheck for years and it’s become ingrained in me that I feel weird if I don’t budget. I know every dollar that comes in and goes out and I have zero surprises when something is due because I saved up for it. I get paid weekly and I divide my bills by 4 and set that amount aside and when the bill is due I have the full amount ready ..that’s been the biggest game changer because I keep a good portion of my paycheck to allocate money to other expenses, debt and savings

[leahrenea]

What opened my eyes was a friend who makes 4 times what I do and doesn't have a mortgage but is still paycheck to paycheck. That was my lightbulb moment. I also only get paid once a month so learning to budget was necessary. I now have a savings though not much (work in progress) and she had an emergency and had to borrow from me.

[calsannepotgieter]

I do a low buy. I look at all the areas where I spend most and put a limit on it. For example I love bubble teas but they are $8 a pop. And If I bought one every day I would spend half of my monthly income. So I limit myself to no more than 2 a week. With my clothes I limit myself to no more than 10 new items a year. I have a capsule wardrobe and this is enough for me to replace things as they wear out and occasionally get something just for fun. I've been living like this for a few years and now it comes naturally for me to be aware if I'm going over my limits. It has been a trial and error process but has made a huge difference to how I manage my funds.

[jennifershaw]

Minimalism totally changed the way I spend money. I really question the value of anything I am buying and whether I want this item in my house. There are many questions I ask myself and so impulse spending doesn't happen anymore. I love living a minimal life where I either love or need everything I own. Great information in this video. :)

[minimalistlife]

My budget update I do 10% tithes, 40% savings now I am debt free, live on 50% which includes rent.

[nbo]

Thanks for this content. I love your gentle but firm style. This is a topic that is so stressful and shameful.
Frugality can be fun. Don't think I'm poor. Think I can do better and keep working toward your goals. Financial planning should be a more open topic. 😊

[lot]

Cut up your credit cards, never, ever enter a Starbucks. Buy a cheap used Honda or Toyota and drive them till the wheels fall off.

[GoodGriefCB]

When I got paid I would pay my tithes. Then I put 10% in savings. Then I paid my bills. What was left in my account I could spend. However, the day before my next check was deposited I would move what was left to savings. So a lot of times I would talk myself out of buying some stupid thing so I would have more to put in savings. Hope this makes sense

[phillawson]

Living below your means" adjust your lifest, be frugal, budget, save and invest. This helped me out as a 6 figure earner. I've grown over a million in retirement savings with this method

[mauraronda]

Buying less requires lots of self discipline. It’s not that easy but wow will make you feel better. Thank you I needed this video.

[aparnaamkulkarnii]

I did a no buy clothes for 2.5 years durig the pandemic 😃. That's because during the lockdown i realized i had way more clothes than i needed 😐😅. I also decluttered a lot and used your tips for doing so. Believe me i felt so light in life.