How to Stop Living Month-by-Month

The Love Of Money

Being broke is bad. But in my opinion, living on paycheck-to-paycheck is just a little better than being broke. It guarantee that you will be stressed, desperate and don’t know how to get out of this trap. Let’s review the solution together in this blog.I used to live on paycheck, too

Frankly, I used to live on monthly paycheck. It was on the beginning of my career path. I was 20 or something then but that is not an excuse. Money won’t compromise even if you are sixteen years old. I spent myself like crazy that I’m starting to generate cumulative credit card debt. Before I realized, it was 1 year into my career with a debt worth 6 months of my current earning. So this is the question I used to asked myself too, how can I stop living on a paycheck?

1. Pay yourself first

No, it doesn’t mean that you should buy yourself a new pair of shoes. Instead, paying yourself means investing in a long-term goals. If you are debt-free, then investing. But if you are still in debt, settle them first. This is the actual and true meaning of paying yourself.

My suggestion is set up an automated system that pays yourself on monthly. This way you can’t be wrong.

2. Cut your subscription

Sometimes you pay for something you don’t even use. And you didn’t even know!! Check on your credit card historical data to see is there any hidden cost to you at all? I myself founded that I subscribe for 2 e-magazines that I didn’t even bothering download for years. Cable subscription should be reviewed. Everyone is paying more than they can watch. And the last thing is internet. Yes, I can’t live without internet, too. But my last short conversation with Comcast guy did helps me reduce my monthly bills by 30%. That’s worth a try for yourself.

3. Negotiate for a raise

This is a tricky part. No one will give a sh*t on how much debt you owe. How you going to feed your family. Latrell Sprewell failed once by rejecting $14.6M contract so you don’t want to walk on his path. But try to approach to your boss discussing on how you can help your company. What role do you seek to expand. And, lastly, why they should invest on you. Remember, every company would preferred to develop their current employee than recruiting a new one. So try to make them buy on this and you will have 10-20% more money to play on monthly.4. Get a second job

You don’t have to go to McDonald’s and that’s not what I meant. This is 2014 and the internet is created 45 years ago!! You can buy and sell something online. You can develop your own website writing what you know and find some sponsorship. There are much more possibilities nowadays that awaiting for you to grab. All you need is asking yourself what skills do you have that can moneytize. Everyone has their own unique skills and have more than two skills. So spend sometime with yourself with a blank paper and start writing.

It does require a good amount of effort to stop living month-by-month but as the time progress, you can see your debt fading out. So keep up your good work and wishing you the best.
Let’s say sayonara to your debt everyone!!

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