Breaking the “Paycheck-to-Paycheck” Habit

In our “paycheck-to-paycheck” culture some people have a hard time paying their rent. This is a problem that some have when it comes to the beginning of the month; they want to rip each hair out when they don’t have the funds in their account. Whether you are experiencing a last minute emergency (e.g., broken car) or don’t have a savings account here are some tips that will help you set yourself up for success and timely rent payments; and better yet…sleep well at night if you actually implement them!

Tip #1: Monitor your accounts! Know how much money you have, how much money you will spend on bills and how much you can spend once all of your bills are paid.

Tip #2: Save, Save, Save! If you don’t have a savings start by saving a percentage of your paycheck. Start small at 5% of your paycheck and work your way up.

Tip #3: Your responsibilities come FIRST!! Know that you need somewhere to live. After you set aside what you have decided to save your FIRST thought should be to pay your rent! After all…you need shelter! A night out on the town with your friends should come second to rent. You can do it!

Tip #4: Exercise self-control…set small goals and work your way up!

In the age of the Internet there is a wealth of knowledge that can help you better your financial situation! Try by implementing these tips. These small steps will help you take care of your responsibilities as well as help you sleep a little better at night! Last but not least…it will help build your self-confidence to handle your business as an adult should! Go for it!