Huge disclaimer: living paycheck to paycheck is not necessarily an active choice, and plenty of people are in that financial spot for all kinds of legitimate reasons. I’m not here to shame anyone for doing what they need to do to get by based on their circumstances. And if you’re living paycheck to paycheck because you’re aggressively paying off debt or bulking up your savings, carry on, my friend. But for those of you who get paid on a Friday, spend lavishly for a week, and then nervously wait for the next payday to happen—I’m talking to you. Living paycheck to paycheck means you have enough but just barely, which isn’t sustainable in the least. It prevents you from saving for your financial goals and investing in your future, because you’re always waiting for the next round of income to move the ball forward. It also keeps you on an emotional roller coaster: money comes in (yay!) and then it’s gone (no!).
But it doesn’t necessarily have to be this way. This week see what you can do to break the cycle. Are you having trouble creating a budget and sticking to it? Sign up for an app or a tool that helps you note spending patterns and track your net worth. Do you need to cut down on spending? Use coupon services or codes, check out secondhand stores or refurbished items, browse clearance racks, and comparison shop to find the best prices. It may take time to create more of a margin in your finances so you’re not living paycheck to paycheck, but it’s worth it.