If you’ve ever said, “Don’t spend any more money until I get paid on Friday,” then you’ve been living to paycheck like 78% of Americans. Being broke is normal, but it doesn’t have to be. If you’re sick and tired of living that way, here are 5 steps to help you stop the cycle of living paycheck to paycheck.

1. Get on a Budget

A budget is simply you telling your money where to go instead of wondering it went. Each month, you figure out how much income you’re going to have that month, and then you plan for how you’re going to spend or save every dollar. Then, during the month, you track your spending and your income and make sure you’re staying on that plan.

2. Stop Borrowing Money

Borrowing money just makes your future more difficult. Basically, you’re borrowing from your future. And it makes it even more difficult to live within your means in the future months. If you struggle with credit card debt, then it might be time to get rid of your credit cards. Chop ‘em, shred ‘em, throw ‘em in the fire—whatever it takes, just get rid of them. And don’t forget to close the accounts, too.

3. Sell Some Stuff

That stuff you have laying around the house that you don’t need? That you don’t even want to have around anymore? Sell it, and use that money to create some emergency savings or to pay down that debt.

4.. Get a Temporary Job or Side Hustle

Sometimes, the problem isn’t that you’re spending too much money, but that you just don’t have enough income. So while you’re trying to get a promotion and a salary increase, find a temporary job to get some immediate income. Remember, it’s just temporary. It’s not like you’re going to be working two jobs forever. 

5. Live Below Your Means

The underlying problem for you might be that you’re overspending by living above your means. Stop trying to keep up with the Joneses—they’re broke, and you don’t like them anyway. Stop spending money on things you don’t really need just to look good on the outside.

You don’t have to live paycheck to paycheck. Breaking the cycle can be difficult, but it will help you regain control of your finances and your life. My name is Lyndon and I’m a Ramsey Solutions Master Financial Coach. If you want help working through this process, give me a call at 316-535-0750 or schedule an appointment with me below.