Stop Living Paycheck to Paycheck – Tactical Tips

Statistics vary, but regardless of which source you look at, there is over 40% of working adults in the US that are living paycheck to paycheck (these numbers get up as high as 70%).  That is a lot of people that are one emergency or job loss away from being in financial disaster.  Now, if you are here on this blog, it means you want to do something about your financial situation, and you want tactical tips on how to improve your financial health.  I am not going to give you the standard “paycheck to paycheck” advice which is, “spend less than you earn”.  Even if true, the concept is tired, and not very actionable.  Below are some tips on how to maintain your lifestyle, but free up some cash that will help you build your savings, your emergency fund, or increase your debt repayments.

Avoid fees: We are surrounded by potential fees, fines, penalties that end up hurting our pocket book.  If you are going out, don’t use an ATM to get spare cash that charges you a fee (some of these can charge around $3.00 a transaction.  Ouch!)  Pay your bills on-time; don’t incur late fees by being lazy, or by hoping your bills will take care of themselves without you having to open them.  Pay your bills, it’s the responsible thing to do.  Don’t risk a parking ticket, even if you can’t find a spot near your destination; I am as guilty as can be about this.  I used to park wherever I wanted and hope that I didn’t have a surprise at the end of the night.  Most nights I didn’t, but that doesn’t mean I didn’t throw away $500 over the past couple of years by not walking an extra few blocks or taking 10 minutes to find an “actual” parking spot.

Get rid of subscriptions: There is a ton of free media out there for everyone to consume.  Do you need all of those magazine subscriptions when most of the articles or similar articles can be read online?  Do you really need that ESPN Insider subscription for $50 a year?  Do you watch enough movies on HBO, Showtime, etc. to warrant both your premium cable subscription AND Netflix?  Get rid of one of them and you will still have an endless supply of movies.

Find deals online: There are coupons or specials for nearly everything online.  One thing a friend turned me onto last year was Restaurant.com.  Here you can by $25 gift certificates for $10. There is usually fine print, like you need to spend $50 to use the gift certificate, but you can easily save $15 a date by using these deals.  Also, there is a promotion right now through UPromise where you can get $25 gift certificates for $2.  That is great savings if you don’t know what you would do if you didn’t eat out every night of the week.   For specific stores, type into Google the retailer name and the word “coupon”.

Transfer a balance: Take advantage of new credit cards’ specials and transfer your balances to avoid paying interest for a few months.  If you have a high balance and are high interest rate, transferring to a similar rate but with an introductory 0% APR for the first six months could save you hundreds of dollars and allow you the freedom to start savings or building an emergency fund.

Boost your income: Take a part time job.  Knowing how much I work, you can sense I am a big proponent of this.  However, this is the best way to get out of the paycheck to paycheck cycle.  If you are making more money and you don’t change your spending habits, you are going to have a surplus. Furthermore, when you are working more hours that means there are less hours to spend.  Sounds like a win-win, right?

Work from home: In today’s age of technology, this is a legit option for most people.  Working from home has several benefits.  You aren’t paying for transportation to get to and from work (I pay $9 a day in metro costs, that is sizable), and you are less likely to go out to eat for lunch.  This could save you close to $20 a day each time you work from home.   See if your employer has a telecommuting option.  Doing this one day a week can save you anywhere from $50-$100 a month.

Budget: Most people roll their eyes at budgeting, but this is an effective way to cut your spending and build up a solid financial system that works for you and hits all of your goals.  If you are thinking about doing this, I would suggest you take a look at my post about tracking your spending.  Trent at The Simple Dollar had a great post about his one month challenge that can be found here.  Trent’s idea really takes two months, but is a simple way at looking at where your money goes, and at altering your behavior.

I hope these ideas are helpful and provide you with some motivation to cut spending or to find ways to save money while spending that will leave you with a surplus of cash at the end of each month.  Getting started is the hardest part, but if we each work hard enough, anyone can get off of the paycheck to paycheck merry-go-round.

227 Responses to Stop Living Paycheck to Paycheck – Tactical Tips
  1. Health and Fitness
    April 20, 2018 | 1:33 am

    I will immediately snatch your rss as I can not to find your e-mail subscription hyperlink or newsletter service. Do you have any? Kindly let me understand so that I may just subscribe. Thanks.

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    April 20, 2018 | 4:48 am

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    April 20, 2018 | 5:06 am

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  4. Health and Fitness
    April 20, 2018 | 5:19 am

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  5. www.nareja.com
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  15. Health and Fitness
    April 20, 2018 | 4:19 pm

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  16. Health and Fitness
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Leave a Reply


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Trackback URL http://mynextbuck.com/stop-living-paycheck-to-paycheck-tactical-tips/trackback/

Stop Living Paycheck to Paycheck – Tactical Tips

Statistics vary, but regardless of which source you look at, there is over 40% of working adults in the US that are living paycheck to paycheck (these numbers get up as high as 70%).  That is a lot of people that are one emergency or job loss away from being in financial disaster.  Now, if you are here on this blog, it means you want to do something about your financial situation, and you want tactical tips on how to improve your financial health.  I am not going to give you the standard “paycheck to paycheck” advice which is, “spend less than you earn”.  Even if true, the concept is tired, and not very actionable.  Below are some tips on how to maintain your lifestyle, but free up some cash that will help you build your savings, your emergency fund, or increase your debt repayments.

Avoid fees: We are surrounded by potential fees, fines, penalties that end up hurting our pocket book.  If you are going out, don’t use an ATM to get spare cash that charges you a fee (some of these can charge around $3.00 a transaction.  Ouch!)  Pay your bills on-time; don’t incur late fees by being lazy, or by hoping your bills will take care of themselves without you having to open them.  Pay your bills, it’s the responsible thing to do.  Don’t risk a parking ticket, even if you can’t find a spot near your destination; I am as guilty as can be about this.  I used to park wherever I wanted and hope that I didn’t have a surprise at the end of the night.  Most nights I didn’t, but that doesn’t mean I didn’t throw away $500 over the past couple of years by not walking an extra few blocks or taking 10 minutes to find an “actual” parking spot.

Get rid of subscriptions: There is a ton of free media out there for everyone to consume.  Do you need all of those magazine subscriptions when most of the articles or similar articles can be read online?  Do you really need that ESPN Insider subscription for $50 a year?  Do you watch enough movies on HBO, Showtime, etc. to warrant both your premium cable subscription AND Netflix?  Get rid of one of them and you will still have an endless supply of movies.

Find deals online: There are coupons or specials for nearly everything online.  One thing a friend turned me onto last year was Restaurant.com.  Here you can by $25 gift certificates for $10. There is usually fine print, like you need to spend $50 to use the gift certificate, but you can easily save $15 a date by using these deals.  Also, there is a promotion right now through UPromise where you can get $25 gift certificates for $2.  That is great savings if you don’t know what you would do if you didn’t eat out every night of the week.   For specific stores, type into Google the retailer name and the word “coupon”.

Transfer a balance: Take advantage of new credit cards’ specials and transfer your balances to avoid paying interest for a few months.  If you have a high balance and are high interest rate, transferring to a similar rate but with an introductory 0% APR for the first six months could save you hundreds of dollars and allow you the freedom to start savings or building an emergency fund.

Boost your income: Take a part time job.  Knowing how much I work, you can sense I am a big proponent of this.  However, this is the best way to get out of the paycheck to paycheck cycle.  If you are making more money and you don’t change your spending habits, you are going to have a surplus. Furthermore, when you are working more hours that means there are less hours to spend.  Sounds like a win-win, right?

Work from home: In today’s age of technology, this is a legit option for most people.  Working from home has several benefits.  You aren’t paying for transportation to get to and from work (I pay $9 a day in metro costs, that is sizable), and you are less likely to go out to eat for lunch.  This could save you close to $20 a day each time you work from home.   See if your employer has a telecommuting option.  Doing this one day a week can save you anywhere from $50-$100 a month.

Budget: Most people roll their eyes at budgeting, but this is an effective way to cut your spending and build up a solid financial system that works for you and hits all of your goals.  If you are thinking about doing this, I would suggest you take a look at my post about tracking your spending.  Trent at The Simple Dollar had a great post about his one month challenge that can be found here.  Trent’s idea really takes two months, but is a simple way at looking at where your money goes, and at altering your behavior.

I hope these ideas are helpful and provide you with some motivation to cut spending or to find ways to save money while spending that will leave you with a surplus of cash at the end of each month.  Getting started is the hardest part, but if we each work hard enough, anyone can get off of the paycheck to paycheck merry-go-round.

227 Responses to Stop Living Paycheck to Paycheck – Tactical Tips
  1. Health and Fitness
    April 20, 2018 | 1:33 am

    I will immediately snatch your rss as I can not to find your e-mail subscription hyperlink or newsletter service. Do you have any? Kindly let me understand so that I may just subscribe. Thanks.

  2. sultandomino.com
    April 20, 2018 | 4:48 am

    Awesome write-up. I’m a normal visitor of your website and appreciate you taking the time to maintain the nice site. I’ll be a frequent visitor for a long time.

  3. News
    April 20, 2018 | 5:06 am

    I got what you intend, appreciate it for posting .Woh I am lucky to find this website through google. “Being intelligent is not a felony, but most societies evaluate it as at least a misdemeanor.” by Lazarus Long.

  4. Health and Fitness
    April 20, 2018 | 5:19 am

    Excellent post. I was checking continuously this blog and I’m impressed! Extremely useful information particularly the last part 🙂 I care for such information a lot. I was seeking this particular info for a very long time. Thank you and best of luck.

  5. www.nareja.com
    April 20, 2018 | 6:31 am

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  7. Promo suzuki bali
    April 20, 2018 | 6:52 am

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  8. Health and Fitness
    April 20, 2018 | 8:54 am

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  9. Health and Fitness
    April 20, 2018 | 9:17 am

    You are my breathing in, I have few web logs and sometimes run out from to post .I conceive this site holds some real wonderful information for everyone. “Only the little people pay taxes.” by Leona Helmsly.

  10. dominoq
    April 20, 2018 | 9:20 am

    Awesome post. I’m a regular visitor of your website and appreciate you taking the time to maintain the nice site. I’ll be a regular visitor for a long time.

  11. Konveksi Surabaya
    April 20, 2018 | 9:31 am

    Hiya, I am really glad I’ve found this information. Today bloggers publish only about gossip and web stuff and this is actually frustrating. A good blog with exciting content, this is what I need. Thank you for making this web-site, and I will be visiting again. Do you do newsletters by email?

  12. Health and Fitness
    April 20, 2018 | 9:31 am

    As a Newbie, I am always searching online for articles that can be of assistance to me. Thank you

  13. websites brokers
    April 20, 2018 | 10:18 am

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  14. Health and Fitness
    April 20, 2018 | 1:15 pm

    I am continually browsing online for articles that can benefit me. Thank you!

  15. Health and Fitness
    April 20, 2018 | 4:19 pm

    Thank you for the sensible critique. Me & my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more from this post. I’m very glad to see such great info being shared freely out there.

  16. Health and Fitness
    April 20, 2018 | 4:45 pm

    Wow! This can be one particular of the most beneficial blogs We’ve ever arrive across on this subject. Actually Magnificent. I’m also an expert in this topic so I can understand your effort.

  17. News
    April 20, 2018 | 4:59 pm

    I loved as much as you’ll receive carried out right here. The sketch is tasteful, your authored subject matter stylish. nonetheless, you command get bought an shakiness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly a lot often inside case you shield this hike.

  18. Agen Domino 99
    April 20, 2018 | 10:22 pm

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  19. decorindoperkasa
    April 20, 2018 | 11:59 pm

    Hey there. I found your website by means of Google at the same time as searching for a comparable subject, your web site got here up. It appears to be great. I have bookmarked it in my google bookmarks to visit then.

  20. Dominobet
    April 21, 2018 | 12:13 am

    Hey there. I found your blog via Google at the same time as looking for a similar subject, your web site came up. It seems great. I’ve bookmarked it in my google bookmarks to visit then.

  21. Link Alternatif PokerPelangi
    April 21, 2018 | 12:23 am

    Hiya, I am really glad I’ve found this info. Nowadays bloggers publish just about gossip and net stuff and this is actually annoying. A good website with exciting content, this is what I need. Thanks for making this site, and I will be visiting again. Do you do newsletters by email?

  22. Digital Marketing
    April 21, 2018 | 12:25 am

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  23. sci tech
    April 21, 2018 | 12:25 am

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  24. business news
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  25. business
    April 21, 2018 | 12:35 am

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  26. fashion
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  27. Lina Hirz
    April 21, 2018 | 1:21 am

    HelloGreetingsHey thereHeyGood dayHowdyHi thereHello thereHi! This is my first visit to your blog! We are a groupcollectionteam of volunteers and starting a new initiativeproject in a community in the same niche. Your blog provided us valuableusefulbeneficial information to work on. You have done a marvellousoutstandingextraordinarywonderful job!

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