4 Tips to Avoid Living Paycheck to Paycheck

Living paycheck to paycheck means that all of your finances are going towards your expenses leaving you with nothing leftover by the end of the month.

Living this way can not only be financially straining but stressful as well. If you are ready to avoid living paycheck to paycheck this post is for you.


Budgeting your money is a great step in the right direction in terms of saving money. Having extra money on the side can be beneficial and help you in emergency situations, or even when you simply need it.

If you are unsure of how to budget, there are plenty of methods you can look into. It is best to research your options to find a saving option that works best for you and your finances.

One method you can consider is the envelope budget, which primarily uses cash. You plan out how you are going to spend your money each month and use an envelope for each category of your expenses.

When using money from an envelope you pay for your expense with cash, and any you have left you can redistribute to other envelopes or put it in the same category for the following month.

However, if you run out of cash you cannot spend any more in that category unless you take from other envelopes. This will help ensure that you are budgeting aside money for your bills and then extra spending money.

That way you won’t dip into any savings and only spend the money allocated for weekly expenses.


Investing is a great way to bring in passive income so that you can have additional money for when you may need it most. There are various ways to invest some of which can be short-term and others for your future.

If you are willing to spend a little money in order to make money in return, investing in stocks is a great way to do so.

Before investing, it is important that you do your research to see what stocks you are interested in purchasing, as well as the state of the overall market to ensure you are investing at a profitable time.

If you want to make and save money for your future, a great way to do so is through a 401k. Most companies offer a program in which they will match your contribution up to a certain percentage.

The benefit of a 401k is that you can start investing with as little as one percent from each paycheck, however, you can control how much you contribute at any given time.

Eliminate Debt

While it may sound easier said than done, eliminating debt is an excellent way to put money back into your pocket. One way to do this is by assessing your credit card debt and planning on how to pay it off.

Making the minimum payment can actually do you more harm than good in terms of your finances so it is important to find a payment method that helps you reduce your debt and avoid continuously paying interest.

If you have the means to do so, a great way to reduce your debt is by consolidating it. Taking out a loan can allow you to pay off your debt faster and only have one payment instead of multiple.

Additionally, a debt consolidation loan may have a lower interest rate than any of your existing debts.

Get a Side Hustle

Picking up a side hustle can be a perfect way to bring in additional income on top of your day-to-day nine-to-five job. There are plenty of options in terms of side hustles, so you can easily find something that fits into your schedule.

Additionally, there are side hustle options both online and offline, so you are able to accommodate your new job to your lifestyle.

For example, if you preferred to take on an online side hustle, you can become a freelance writer and create content based on your interests and open opportunities.

Many pros come along with freelance writing such as the fact that it can be completed after hours, it can be done anywhere as long as you have a computer and internet connection, and you can make your own hours by determining how much time you have to commit to any given project.

Final Thoughts

Living paycheck to paycheck can be incredibly stressful and prevent you from achieving the financial goals that you set for yourself. If you haven’t started considering your long-term financial goals, now is the time to do so.

By following one or all of these four tips, you can find ways to not only make more money but also save your money so that your financial future is stable.

Josh founded Money Buffalo in 2015 to help people get out of debt and make smart financial decisions. He is currently a full-time personal finance writer with work featured in Forbes Advisor, Fox Business, and Credible.