September 6, 2021

How to Break the Paycheck to Paycheck Cycle

Living paycheck to paycheck may seem like an endless cycle, but it doesn't have to be! Here are a few quick tips you can implement today to become financially fit to weather any storm.

8 min read

Qoins Staff


You wake up, quicker than usual. You feel an overwhelming sense of excitement. There’s a sort of freshness in the air that you haven’t smelt the past couple of days. Your dog is jumping up and down, howling in happiness. You recognize these feelings, smells, your dog’s jump, its… PAYDAY!

Although maybe your dog doesn’t actually get excited over payday, we all know the excitement this day does hold. Payday for you may mean you can finally buy that pair of sneakers you’ve had your eye on for a while now. Or, maybe it means it’s time you have the money to pay your electricity bill. For everyone, payday is the best day of the week, but no one should be relying on payday just to survive. If you’re living paycheck to paycheck, it’s time to break the cycle.

The stress and anxiety that comes with waiting for each paycheck is no way to live. Instead, there are plenty of ways for you to have a comfortable amount of money even the day before your next paycheck comes. For this however, you have to cut your expenses in other places. Yes, that even includes your bills!

Cut Expenses

Some ways to cut your expenses may include looking at subscriptions you’re paying for but aren’t using, carpooling to save gas (and save the environment), and the biggest one, eating out less (or not at all!). It seems like people believe they have to eat out when eating out is actually one of the quickest ways to chew up your money fast. When was the last time you bought prepared food out somewhere besides the grocery store? If you think you’ve gone longer than a week, congratulate yourself! Buy groceries and make food at home, you’ll save money and probably end up being healthier too.

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Pay Yourself

Pay off your debt and start paying yourself. Start with your highest interest rates first and get rid of the debt holding you back. Then you can start paying yourself and creating a savings fund. The more you save – the more you have in the long run – the more you have to feel safe and not feel like you may lose your mind because you have to wait for the next payday just to be able to buy groceries! If you can save enough, you never will be worried about not having money in the future ever again!

Change Your Lifestyle

Think about your trips to the dentist. The dentist seems to always give you a hard time about one thing in particular… can you think of it? Yes, flossing is the correct answer! You leave the dentist thinking now… now is the time I will change my lifestyle. I’m going to floss twice a day. Honestly though, we all say this and then most of us don’t stick with it, as with a lot of things in life. Lifestyle changes are difficult but can be done if you set your mind to it! If you want something bad enough, you will do anything to get to it. So, if you want to be rid of debt enough, you will find a way to change your lifestyle, even if it’s just for a short time! Sometimes you need to make short term changes in order to have long term benefits.

Learn to say “no” to some activities that may be too costly for you. Social events are fun, but also can end up taking a lot of your money. Try to only go to events that are cheaper or try and convince your friends to do some free activities! There’s plenty of free things to do such as hiking or going to the pool.

Learn to pay your bills on time to avoid late fees. This is something that comes with lifestyle changes and is super important to try and do. Set aside your money each month towards your bills and things that have to be paid by a deadline. This way, you’ll always have the money ready to be sent out and you’ll never have to pay extra dollars just for being late!

Of course, it’s very challenging to change the way you’re spending your money, but as soon as you do, you will be that much closer to being debt free!!

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