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Career & Money, Millennials

Stop Living Paycheck to Paycheck with These Tips

Let’s be honest; everyone wants to make enough money to not think about money ever again. Living paycheck to paycheck is stressful, tedious, and nerve-wracking; you never know if you are going to “make it” by the time the month ends and just the pressure of relying on your wages to live is enough to make milk curdle. However, it does not have to be that way – you can follow these tips on money spending to turn a new leaf, just in time for the new year.

Saving

By setting aside cash for a rainy day you ensure you can pay your next month’s bills without batting an eye, or better yet, you can pay bills in advance to save you stress wrinkles.

You can even enroll in an automatic savings plan, that way every time you earn, a portion of your salary will go into your savings account. This way, when the time comes, and those cute, flowery vintage boots choose you, and not the other way around, you will actually feel good about buying them.

Reconsider your spending

Now is the time to establish those good money habits that’ll build up your future. Consider all your bills, your needs and wants, and really split hairs until you find what is absolutely necessary for your life and what you can do away with. For example, do you really need to pay $100 for a gym membership, or can find another gym that will still get you where you want to go? Do you live above your means in any way? Consider getting a roommate for example if you live in a neighborhood you cannot really afford.

Eliminate debt

It is so important to eliminate debt from your life as soon as you are able. Student loans, credit cards, all of that money owed just adds up to more money being owed until you find yourself living just to pay the bills. By paying off debt early, you save up money for the future and cut away the unnecessary stress of owing something to someone. As soon as you have money leftover, resist the urge to splurge on vacations or that hot surround sound system you have been eyeing. Instead, use the extra cash to eliminate all debt, and stress, from your life. Why not free yourself up for the best of days?

Consider new ways of making more money

There are many gigs you can get over the weekend, that will afford you hundreds of dollars each month. The trick is to find a balance between what works for you and is worthwhile, versus what is too time-consuming and stressful enough that your quality of life lowers. Find something you can do well, and that takes less investment on your part so that your time-to-output ratio is worthwhile. For example, babysitting or driving on Lyft. Apps also exist that make the money making process as attainable as possible. For example, you can make financial investments on Stash with as little as $5, and you can sell your old stuff on Letgo.

Whatever you do, always know that you can achieve what you dream and set your sights on, and live a life that is comfortable and achieve financial freedom with a little strategy, faith, and creativity. 

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