The number one way to stop living paycheck to paycheck is to track your spending. This allows you to monitor wasteful habits, to stay within your set budget, and help you determine how much you can save at the end of each month.
After tracking your spending for a couple months it’s time to set a reasonable budget. Setting long-term goals, along with a timeline will determine how aggressive your budget for savings should be.
Make conscious decisions to stay within your budget by making sacrifices on nights out, desserts, new clothes, or by not making large purchases like couches, televisions, or games systems.
Make it a game. See how much you can save over a two or three-month period by sacrificing everything you don’t need to pay for except rent, bills, and food. If you have to buy something online, use the cheapest, slowest shipping, option.
You will be surprised how far you can stretch paycheck by tracking your spending.
Follow dollar loan center on social media and be sure to join us for more helpful videos later this week.
