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How To Stop Living From Paycheck To Paycheck  

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What is the main lesson to learn,how to stop living paycheck to paycheck to paycheck?I am one of those people who live paycheck to paycheck and I was wondering is there any one who has good points,views and lessons to be learned on how to finance money in the right way so I don't have to keep living paycheck to paycheck?
 

asked Sep 18, 2005 07:52 PM

chmartinbaby06

41Answers

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spread your income as follows...
pay yourself first 20%
save 10%
Pay you bills 70%

answered Sep 18, 2005 08:07 PM

Anonymous
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Thank you for the input!I try to save but somehow I always come into a loop hole of paying something off and then have to keep paying more and more bills.It never fails all the time it always happens like that the more and more I dush out the more and more I go behind with bills!

answered Sep 18, 2005 08:14 PM

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Hi ch:

I can suggest you some more techniques that might help you. I have tried this policy and it helped me a lot.

  • Try to differentiate your wants and your needs.

  • There are some fixed and floating expenses - prioritize them accordingly.

  • Control the temptation of using credit cards and having payday loans.

  • Keep some part of your earning aside every month, treat saving as an urgent expenditure. Try not to touch this amount unless you don't have any other option.

  • Prepare your own budget and stick to it at any cost.
Let me know, how do you feel about my plan?

answered Sep 19, 2005 10:39 AM

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I think that is a good plan but it is so hard I get so tempted to spend you know!But I am gonna try that to see if I can stay on a income budget I will keep you posted bryan and let you know how it works out okay!But that is a very good point the only way I can save is if I don't see the money in my face maybe I can just keep all my money in the bank and try to save that way!

answered Sep 19, 2005 10:46 AM

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Ch, all you need is a proper budgeting. A better financial management is the key to solve all your financial problems.

You are having tough times just because you are lacking management in it.

Let me exemplify, if you love to cook food, and if you know the art of cooking nicely, it will be appreciated by all. But, if you are cooking without any interest, you will be the only one to criticize first.

It's all management, my dear!! You will be able to master this art very soon only if you have interest towards it.

Regards
Roxette

answered Sep 19, 2005 01:54 PM

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Thanks Roxette,
I know I have a bad time to manage money because if I have it I will spend it,and when its gone I am always looking dumb founded in the face!I try to see where I spent my money and then when I calculate it all up it was on stuff I really didn't need!But I think I am starting to get the hang of it budgeting money instead of sopending it on nonsense!

answered Sep 19, 2005 08:00 PM

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It's hard, I know, because it seems that bills are due right around the time of your paycheck. Tony hit the nail on the head...the Pay Yourself First rule. Can't beat it. And it works!

My bad money habit is eating fast food often....that stuff adds up!

answered Sep 20, 2005 11:05 AM

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Hey Lindsey, I also love to eat fast food...same choice here. But I make it a point to do it once at the beginning of the month in a prodigal way. Rest of the month, I tie myself.

answered Sep 20, 2005 12:17 PM

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I know I love to eat fast food I have groceries here in my home but I love to eat out all the time.But if I can control that habit from eating fast food most of the time then I can try to save some money!!!!!!!!

answered Sep 21, 2005 11:01 PM

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It takes will power. Fast food is convenient: it's fast, it's good, it's always there and you don't have to make it. But it's also unhealthy, and expensive.
The best advice is to buy foods from the grocery store that you like and try your best to pass up the fast food. In the long run, you'll gain money and lose some weight icon_cool.gif

answered Sep 22, 2005 07:54 AM

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