I am tired of living from paycheck to paycheck, what can I do to make money successfully soon?

Updated on : December 7, 2021 by Bradyn Watts



I am tired of living from paycheck to paycheck, what can I do to make money successfully soon?

Being tired of living from paycheck to paycheck is not enough. To fix the problem, you must have a burning desire to have a better life and be financially independent. Most people are dreamers and do not have the determination to really change their life. If you are a dreamer and not a doer, forget it and continue living as you are.

In the first place, it is expensive to be poor, to live from paycheck to paycheck. The more you support yourself, the more expensive it is. You end up carrying balances on credit cards and paying very high interest, you end up losing discounts and paying late fees. You finish

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Being tired of living from paycheck to paycheck is not enough. To fix the problem, you must have a burning desire to have a better life and be financially independent. Most people are dreamers and do not have the determination to really change their life. If you are a dreamer and not a doer, forget it and continue living as you are.

In the first place, it is expensive to be poor, to live from paycheck to paycheck. The more you support yourself, the more expensive it is. You end up carrying balances on credit cards and paying very high interest, you end up losing discounts and paying late fees. It ends with bad check fees and some even go to places like Paychex and lose money there. Advancing in the game makes life less expensive. You must first get to the point where you pay little interest and accept all discounts.

There are only two ways to have more money. One is to spend less and the other to earn more. So let's talk about spending less first. Somewhere there is someone who earns 10% less than you and gets along. Track all your expenses for a month, then sit back and figure out what you can cut back to live on no more than 90% of what you earn. Can you pack a lunch instead of buying one, cut the cord and use Netflix, go for a cheaper cell phone plan, have a thermos of coffee and skip the Starbucks stop, not buy lottery tickets, they are not the way to go. towards finances? Liberty. Can you live in a cheaper place for a while how to move in with your parents? Can you sell your car and take the bus? Also look at what you have that you don't really need and sell the junk on Craigslist and apply any money to debt or savings.

One way to speed up the process is to improve your income. At the stage you are in, there are several ways. One is to get a part-time job to earn extra money. Even flipping hamburgers a few hours a day can give you some money to invest or pay off debts, being a receiver at Walmart or driving for Uber are other options. The other option is a better job. It may be easier said than done if you have low skills. You can learn new skills that could lead to a better paying job. Once you have some extra cash, you can go to trade school or go back to college or even learn YouTube skills that can help you improve your income.

Once you have extra money and have paid your bills, you can invest your money to make it work for you. The two best ways are stocks and real estate. Both can make you financially independent. Owning has some difficulties at times, but it can allow you to have great financial security. Investing in stocks can be done without much knowledge (using ETFs) and has historically returned 9.5% a year over time, which is far better than a bank that won't even pay enough interest to keep up with inflation.

To make real money you need to leverage. One thing that can be leveraged is your knowledge. Learning new skills that open higher paying opportunities is the way to do it. Money is the second thing you can leverage and it's the easiest once you get underway. Investing your money wisely can get you to the point where your money makes more money than you do. The other thing that can be leveraged is people. Starting your own business and earning money from the work of others is the other option, but there are risks in starting a business.

My last suggestion is that you learn all you can about money. Read books like Rich Dad, Poor Dad, "The Magic of Thinking Big," The Richest Man in Babylon "and more. Listen to shows like Susie Orman and other financial shows that provide advice on managing your money. It is difficult to become financially independent if you do not understand money.

Living from paycheck to paycheck creates a lot of tension that carries with it worrying about paying the bills. The only way I know of being able to get rid of that tension is by reducing the cost of living. I rent a small house instead of owning a townhouse. I was paying $ 900 a month for a townhome that was really nice and I really liked living in, but I had to cut my expenses because now I was living on retirement income, not work income. The old house I live in now costs me $ 300 a month for rent. I dropped all the cables except the Wi-Fi. I have b

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Living from paycheck to paycheck creates a lot of tension that carries with it worrying about paying the bills. The only way I know of being able to get rid of that tension is by reducing the cost of living. I rent a small house instead of owning a townhouse. I was paying $ 900 a month for a townhouse that was really nice and I really liked living in, but I had to cut my expenses because now I was living on retirement income, not work income. The old house I live in now costs me $ 300 a month for rent. I dropped all the cables except the Wi-Fi. He was busy paying the credit cards and other monthly bills. The way I do it is to pay the bill twice during the month. This is how I paid off my student loans. The tiny house movement is about spending $ 10, 000 to own a portable home and most people can afford $ 10,000 in a year, year and a half. Look where your income is going, really examine it. If you drive a Volvo or a BMW, make it real and swap it out for a Chevy. Maybe even a used Chevy. Watch out for your income drop, they become more stable. Have a house, get a roommate. Having that income will help pay off your mortgage so things don't feel too tight. You can also earn income by becoming an Airbnb host. I haven't done it myself, but people who have done the Dave Ramsey financial planning thing really get excited about it. Be on the lookout for a class to arrive somewhere near you and take it. The bottom line is to analyze your expenses and see what you can live without.

  1. Reduce your daily living expenses. This can mean selling your car, downsizing your house or apartment, etc. and make a strict budget regarding groceries, clothing and entertainment and stick to it.
  2. Set aside a percentage, however small at first, from each savings paycheck. If you haven't already, have your paycheck deposited directly into your bank account.
  3. Stay debt free, no matter what. Use your cash or debit card and not a credit card for purchases and expenses. Needless to say, pay off existing debt. Talk to your bank advisor about debt consolidation, if there is a large and varied debt.
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  1. Reduce your daily living expenses. This can mean selling your car, downsizing your house or apartment, etc. and make a strict budget regarding groceries, clothing and entertainment and stick to it.
  2. Set aside a percentage, however small at first, from each savings paycheck. If you haven't already, have your paycheck deposited directly into your bank account.
  3. Stay debt free, no matter what. Use your cash or debit card and not a credit card for purchases and expenses. Needless to say, pay off existing debt. Talk to your bank advisor about debt consolidation, if there is a large and varied debt.
  4. Re-examine long-term goals, including education and career issues, so that you earn as much as possible.

I think it's about forming good spending and saving habits, and it's not that complicated. However, we are all so used to instant gratification that it can seem more difficult than it is.

The key to making money is saving money! When you live from paycheck to paycheck, there is a hole in the cash line somewhere along the way. Find the hole and plug it! Look at how much you come in, now look at how much you go out, somewhere in between the 2 is the negative cash flow. How do you plug the hole? separates the real from the not so real. There are places where you can save money and places where you cannot.

Combine your insurance, have coffee at home or pack a thermos, do you have a landline and a cell phone? Do you need both? If the landline is for computer connections, see what your options are.

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The key to making money is saving money! When you live from paycheck to paycheck, there is a hole in the cash line somewhere along the way. Find the hole and plug it! Look at how much you come in, now look at how much you go out, somewhere in between the 2 is the negative cash flow. How do you plug the hole? separates the real from the not so real. There are places where you can save money and places where you cannot.

Combine your insurance, have coffee at home or pack a thermos, do you have a landline and a cell phone? Do you need both? If the landline is for computer connections, see what your options are. What about cable or satellite? The same, there are other options (Sling TV is one). What about cheaper groceries? Ben Franklin once said something to the effect that all foods went to the same place, taste didn't matter that much. I encourage you to read some of his books, he talks about this in more detail than what I am giving you here. How about your car? Can you make a change there? along with the cost of housing?

Only you know the answers to those questions, you will likely see where some may change. Those are ways to save, what can you do to earn more? If you are posting questions on Quora, then you have access to a computer! Right there at your fingertips is a brave world, not so new, waiting to be explored. The advent of digital has opened many new paths for those with an entrepreneurial spirit. Sometimes your imagination, or the lack of it, is all that gets in the way. Start with savings and the rest will fall into place, the Bible also has a pretty interesting idea about savings. Good luck! Robert

I'll give you the best and easiest solution I know: you have the wrong hobby.

Yes, you need a new hobby, one that allows you to save a lot. It's called Frugal. If you become a person who lives far below your means, you can save money. Being frugal is fun ... if you embrace the idea that saving money is fun. Use your wit and intelligence. Find ways to reduce, recycle, and review each expense. Here are some good starters:

  1. Cable TV download. Who needs it? Try reading a book or playing a card game with friends. You'll have more fun and you won't be bombarded with "spend now"
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I'll give you the best and easiest solution I know: you have the wrong hobby.

Yes, you need a new hobby, one that allows you to save a lot. It's called Frugal. If you become a person who lives far below your means, you can save money. Being frugal is fun ... if you embrace the idea that saving money is fun. Use your wit and intelligence. Find ways to reduce, recycle, and review each expense. Here are some good starters:

  1. Cable TV download. Who needs it? Try reading a book or playing a card game with friends. You'll have more fun and won't be bombarded with "spend now" ads.
  2. Ditch Starbucks and other $ 3-5 coffees. Really ... paying $ 5 just because it's cool? Make your own beer. It tastes much better and is much cheaper.
  3. Get rid of gym memberships. You can stay in shape at home by doing some simple exercises. Join your friends on a regular walk. Help build a Habitat home, volunteer to clean up the park, or paint an elder's home.
  4. Socialize. Instead of going to bars and clubs or spending money on shows and movies, how about real life? Try volunteering with a social group. Join a church. Guardian of a disadvantaged child. You will be rewarded many times over, have much more fun, and contribute to society.
  5. Get rid of that expensive smartphone. You can get one from Freedompop for $ 38 a month that has the same features.
  6. Stop driving new cars. Buy reliable old cars. Who are you trying to impress? Secret: they are not impressed.
  7. Stop shopping addiction. Make a list and buy only what you need.
  8. Stop eating so much out. Not only is it expensive, it is unhealthy. You can make much better meals at home and cooking can be a fun activity for couples.
  9. Have fun in ways that don't involve spending money. Walking, going to the park, going to the library, there are many things to do that are fun and free.
  10. Ditch the credit cards. They encourage spending. Use a card and write down each expense in a checkbook ... that way you know what you are spending money on.
  11. Don't buy things on credit. Save until you can afford them. Anyway, most of the things you buy are not really necessary.
  12. Track your progress. Create a budget and then try to exceed it. Take all the savings and invest them very conservatively. Create savings goals and then try to exceed them.

At first you will think that this plan is not funny, barbaric and almost sadistic. INCORRECT! It is the way to freedom and fun. You will be a better person and come to love the frugal lifestyle.

Unfortunately, this is very common and in a nutshell it is that changing things is going to be difficult, you will have to make sacrifices and change yourself and your life expectancies.

The why

You need a strong WHY every time something is about to change. Make sure you have a good reason or two for testing. Having those WHYs will help you overcome them.

Dramatic change

As other people have pointed out, you will have to cut back on nonessentials to get some money and start investing in yourself. You have to reconfigure what you think makes you happy. you

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Unfortunately, this is very common and in a nutshell it is that changing things is going to be difficult, you will have to make sacrifices and change yourself and your life expectancies.

The why

You need a strong WHY every time something is about to change. Make sure you have a good reason or two for testing. Having those WHYs will help you overcome them.

Dramatic change

As other people have pointed out, you will have to cut back on nonessentials to get some money and start investing in yourself. You have to reconfigure what you think makes you happy. Your money is spent on things that bring you short-term satisfaction. You have to invest in yourself to learn some new skills so that you can get a new job or start a secondary activity on the internet. The best part is when you invest in yourself and get a lot more satisfaction than with nonsense.

Hustle

You need to start acquiring new skills. Read How to Win Friends and Influence People, it's a great book to get a good foundation. You need to find out how much extra time you have to start searching the internet for ways to earn extra money.

Check out Upwork, the World's Largest Online Workplace, and Fivrr to see what kinds of jobs they have for your skill set. You can even start as a virtual assistant.

This is something important, but you should know that you have to improve yourself in all aspects, especially in your expectations because the road is hard and requires guts. I think you have it, but you just have to cut out all those things that are taking time and energy away from what you really want in this life.

Good luck

If you like this post follow me on quora Matt Hernandez

Save with Sprout to be on the list and get help with your finances

Thanks for the A2A.

My answer may seem very blunt, but it is late at night and I want to respond quickly.

The two options are:

  1. Spend less.
  2. Get a better job.

Either you are not managing your finances well or you need to find a better paying job. If you can't think of a job that pays better, develop skills that will allow you to get a job that you do want and that pays you according to your needs.

Until I was in the professional world, I had never realized the myriad of ways that people earn unrealistic amounts of money. Options are important. It's mainly about how much you want "it" and how much work

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Thanks for the A2A.

My answer may seem very blunt, but it is late at night and I want to respond quickly.

The two options are:

  1. Spend less.
  2. Get a better job.

Either you are not managing your finances well or you need to find a better paying job. If you can't think of a job that pays better, develop skills that will allow you to get a job that you do want and that pays you according to your needs.

Until I was in the professional world, I had never realized the myriad of ways that people earn unrealistic amounts of money. Options are important. It's mainly about how much "it" wants you and how much work you are willing to do.

Last tip ... Don't neglect networking and job hunting through people you know. You are much more likely to be hired by a company that finds you through an internal referral. Connect connect connect!

The key to financial freedom is to reduce expenses and increase income. Reducing debt is the fastest way to achieve a better situation. Increased income helps improve your debt reduction ability. Sell ​​everything you can to reduce debt or generate savings. Increasing working hours or seeking a higher salary or alternative forms of income, from aluminum cans to recycling plastic, there are methods to generate income. Try passively selling your skills or passively making money by buying dividend stocks and paying dividends on debt. Savings and small contributions add up over time. P

Keep reading

The key to financial freedom is to reduce expenses and increase income. Reducing debt is the fastest way to achieve a better situation. Increased income helps improve your debt reduction ability. Sell ​​everything you can to reduce debt or generate savings. Increasing working hours or seeking a higher salary or alternative forms of income, from aluminum cans to recycling plastic, there are methods to generate income. Try passively selling your skills or passively making money by buying dividend stocks and paying dividends on debt. Savings and small contributions add up over time. Put 25.00 extra per week, either in savings or debt, or divide the 25.00. If you can save 25.00 and pay 25.00, You can reduce debt by an extra 100 a month and save a hundred a month. You could invest 25.00 a month in stocks to generate additional income over time and work towards long-term investment goals. You can always use more income to reduce debt. I recommend Dave Ramsey and Clark Howard as sources for reducing debt and living frugally.

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Your situation was not explained, so don't expect any more helpful advice than what other responders have written to you. This may get you started: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwjBwY6K1v7XAhUn5YMKHXC5BkIQFgguMAE&2Frobert. google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjBwY6K1v7XAhUn5YMKHXC5BkIQFggpMAA&url=http%3A%2F%2Fwww.ontheissues.org%2Fceleb% 2FRobert_Reich_Welfare_% 2B_Poverty.htm & usg = AOvVaw0mGdLLFeWa2v72Nc940KBZ Bot

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Your situation was not explained, so don't expect any more helpful advice than what other responders have written to you. This may get you started: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwjBwY6K1v7XAhUn5YMKHXC5BkIQFgguMAE&2Frobert. google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjBwY6K1v7XAhUn5YMKHXC5BkIQFggpMAA&url=http%3A%2F%2Fwww.ontheissues.org%2Fceleb% 2FRobert_Reich_Welfare_% 2B_Poverty.htm & usg = AOvVaw0mGdLLFeWa2v72Nc940KBZ Both by Robert Reich.

As Quora does not allow to send you some links, I ask you to get in touch in another medium such as FB and I will give you some Ideas. However, you must have determination and you must have a burning desire to succeed, otherwise it will be "just wishful thinking". You can do it. Success and see you at the top.

A2A - Unknown, does not describe your circumstances at all.

Unfortunately, the vast majority of Americans find themselves in a similar situation. The main reason is to live beyond your means. Usually when someone receives a raise it is "now I can pay xyz" versus "now I can save"….

We are a consumer-oriented society and not a pay-first (save) society.

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