Tag Archives: living paycheck to paycheck

How To STOP Living Paycheck to Paycheck

**How To STOP Living Paycheck to Paycheck**



View Time:11:58Minutes



In this video I will teach you 4 steps to stop living paycheck to paycheck.

Stop Living Paycheck To Paycheck! Once you do so, it will allow you to plan your financial goals around long-term objectives rather than short-term ones. For example, “How much am I saving for retirement” vs. “Can I afford groceries this week”.

Here are some not-so-fun facts about living paycheck to paycheck.

According to the 2017 survey, CareerBuilder, a leading job site, found some startling statistics related to debt, budgeting and making ends meet.

For example, here are some findings from the survey:

– Nearly one in 10 workers making $100,000+ live paycheck to paycheck
– More than 1 in 4 workers do not set aside any savings each month
– Nearly 3 in 4 workers say they are in debt – and more than half think they always will be
– More than half of minimum wage workers say they have to work more than one job to make ends meet
– 28% of workers making $50,000-$99,999 usually or always live paycheck to paycheck, and 70% are in debt

The survey also found that 32% of the nearly 3,500 full-time workers surveyed use a budget and only 56% save $100 or less a month.

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My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.

This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
hey everybody welcome back to whiteboard finance my name is Marco and I'm here to help you master your money and build your wealth today we're talking about how to stop living paycheck to paycheck and if you get any value out of this video please share it with one friend and hit the like button I would really appreciate it so if you spent any time on any financial sites or if you spent any time on LinkedIn you're always gonna see about once a month how Americans are living paycheck to paycheck and how many more Americans every year are living paycheck to paycheck so I did a little bit of research for some background info on this video so I can speak intelligently on this topic and what I found is actually this survey from 2017 from careerbuilder.com as you can see from the screenshot here at careerbuilder.com surveyed 3,500 full-time workers and you can see the stats they're pretty staggering so let's jump through these real quick because it is relevant to the point of this video 78 percent are living paycheck to paycheck one in 10 are actually living paycheck to paycheck that make $100,000 or more per year more than one in four or 25% do not set aside savings each month three and four say that they're in debt and half of those three out of four think that they will always be in debt forever 27 percent of workers making fifty thousand to ninety nine thousand nine hundred and ninety nine dollars live paycheck to paycheck and 70 percent of those 27 percent are in debt that's like your typical middle-class right there that's a very important bullet point 32 percent of these 3,500 people surveyed do use a budget wedge which I actually think is pretty high in my opinion that's almost one out of three people and then 56 percent save a hundred dollars or less a month which is pretty bad so with those stats preface in this video I do want to get into the very first part of stop living paycheck to paycheck and how to stop living paycheck to paycheck so what I'm gonna do is I'm gonna draw a pyramid here and there's a reason why I'm drawing a pyramid and not necessarily four equal blocks there will be four parts to this video or four steps if you will so with every big building the in my opinion is the most important and this is step number one okay so for step number one I want you to take 100% responsibility for the financial situation that you're in so most people just like someone trying to start a diet they are in the situation that they're in because of the choices and the decisions they've made yes there's medical issues yes that you can have a spouse spending money you can have go through layoffs there can be you know the blaming the government for high taxes whatever it doesn't matter because at the end of the day you can only control what you can control so you need to be all in on this financial diet so you can stop living paycheck to paycheck so most of the people watching this video they're here for a reason or they're here just because they like my content which I appreciate but most people that are searching for diets or financial diets or stop living paycheck to paycheck they're not here because they have six-pack abs and they can do 25 pull-ups in a row and they have 5% body fat they're here because they want to fix that the situation that they're in so number 1 is going to be responsibility okay so until you fully buy into your situation or buy into the plan you're never gonna succeed so basically you need to stop making excuses and own it so that's why that's the base of the pyramid but most importantly the most important part of this first step is finding your why so why do you want to stop living paycheck to paycheck and I'm gonna go into more details in that later in the video so the second part of this pyramid is actually going to be your planning okay and this is going to be the bulk of the point of this video or the budget okay because this is actually the hardest part this is implementing the diet so if you want to use the diet as the analogy this is kind of understanding your calories in versus calories out okay so ultimately to be able to plan you need to take a step back and look at your big picture okay so you need to know your money coming in which is your income versus your money going out and if you have a spouse or significant other and kids you need to look at this as a macro perspective and look at from what's my wife's income what's my wife's spending what's my income what's my spending you need to turn this into a universal household budget so ultimately what you need to start with is understanding your needs this is literally the basic necessities for life so shelter electricity water food and I'm not talking about eating out I'm talking about literally groceries for sustenance for literally being alive okay water drinks things like that so once you understand all of your needs you can see what's left over and that's what you can contribute to all of your debts if you have any so a lot of people live paycheck to paycheck because they have ongoing debts instead of being debt free and these debts eat away at your universal budget okay or your Universal income so once you pay off you know the car the housing you know stuff like that things that absolutely need to be paid off then you can see take it a step further and see what you have in terms of what's left over for my wants these are the things like buying a video game or going to the movies or going out to eat you know the things that are spent on hobbies and things like that so if you have anything left over at that point that money needs to be automatically going towards paying off the debts and killing that extra fat if you want to use the analogy of you know the diet if you don't have enough money to actually have anything left over after all your needs debts and wants or met then you need to trim back you're eating or the spending on the wants category these are things that you that you want and not need so you can actually contribute a little bit more back towards knocking out the debt once you knock out the debt you can increase your spending a little bit if you want or you can contribute that to eating up the rest of the debt until your debt free okay so if you don't have enough money going towards your wants figure out how to knock out the debt first and that way you can actually contribute a little bit more to the things that you want so once you pay off the debt you need to keep it off because that way you can set yourself up for step number three which in my opinion is the biggest killer of wealth and the reason why people stay in the paycheck-to-paycheck category and this is our friend lifestyle inflation okay sorry my pen is actually starting to die here so ultimately lifestyle inflation is one of the biggest killers of wealth so this is kind of like the keeping up with the Joneses making sure that I Drive the nice car that's in my driveway so people think I'm successful you know overall it's just human nature to want to keep up with your lifestyle and keep increasing your lifestyle so you need to know when to stop so with the diet maybe you can have one cheat day a week where you can go out eat pizza drink beer do whatever you want eat the burgers and all that but for the other six you need to stay humble and actually not inflate your diet or your lifestyle in this case so it's kind of like human nature right if you drive a Toyota and you start making significantly more money you want to drive the BMW when you do when you're sick of the BMW you want to start driving the Porsche the Porsche leads to the Ferrari that you're sick of the Ferrari leads to the Lamborghini and so on and so on so here's an interesting stat about lifestyle inflation and there's a reason why I'm talking about all this to get us to the fourth step so basically if you remember earlier in this video one out of ten people that make $100,000 a year live paycheck to paycheck there's also a very cool article on financial samurai that talks about how people making half a million dollars a year can easily fall into the paycheck to paycheck lifestyle and I'll send a link to that article in the description below so basically the reason I'm talking about lifestyle inflation is because it doesn't really matter how much money you make you can always succumb to it even if you look at like professional athletes and things like that they say a lot of the times ends up end up being broke okay so this lifestyle inflation step is setting you up for this right here and there's a reason why I did this and that is increasing your income okay so there's a reason for this when you increase your income you're able to handle it if you've built the solid foundation to get to this point okay if you how do I say this if you're a lottery winner actually looked up these stats one out of three big lottery winners actually ends up filing bankruptcy at some point in their lives says 33 percent why do you think that is it's because they never built up this foundation to actually handle that big sum of money okay so now that you've built up the foundation of being responsible owning your financial situation planning and budgeting calories in versus calories out lifestyle inflation not succumbing to that Toyota to BMW to Porsche the Ferrari kind of an example in the McMansion if you want to call it that and then you can actually handle your increased income so increased income doesn't need to be anything extravagant you don't need to win the lottery it just helps you go from being short-sighted in like how am I gonna pay for groceries this week versus farsighted or looking at the big picture in your financial plan so you can now plan for the future you can plan for college you can plan for retirement you can be philanthropic if you want you can give money away it just helps you become an overall better person so what are some ways to go from your w2 job to actually increasing that you can increase your credibility with different certificates you can increase your education you can start a side business you can teach on YouTube you can do pretty much of anything to increase your income it just takes you a little bit of time and effort upfront to realize those increases over time so a perfect example my wife right now is a full-time registered nurse in the Midwest they make decent middle-class money however she is studying to be a nurse practitioner it's gonna dedicate a year and a half or two years of her life and a couple of tests and you know a lot of hard work but ultimately when she becomes a nurse practitioner it will most likely double her income so that'll take us from you know middle class to like maybe a pre middle class I don't know if that's what you want to consider it but my point is is that she's sacrificing about two years of her life with a lot of hard work because she's still working full time but ultimately she'll see that increased salary four years after she completes that program so that's just a small example ultimately my final point on this video is that once you master this peer and once you actually understand how money works and it's almost just like a diet it's almost like anything else in life it's so easy to do especially once you get step number two down so own it plan for it don't increase your lifestyle increase your income when possible and when feasible and I guarantee you you will set yourself up for financial future for a positive financial future and also you will stop living paycheck to paycheck I know this video was a little bit more philosophical and a little bit more rambling if you will but if you got anything out of this video please share it with one friend hit the like button and subscribe below if you haven't already thank you so much and as always have a prosperous day

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**2000 Subscriber Giveaway Winner! No Winner? Live Business, Credit Talk**



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2000 Subscriber Giveaway Winner! There wasn’t a winner as not 1 person followed the instructions, everyone did not post a link to our social media or website. I will rollover the gift card for the 3000 Subscriber Giveaway, plus add more. Thank you all for watching the video.

This live stream including information on how to boost your credit score fast. Statistics on American Citizens finances.

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you can hear me I'll ride everybody let me know if you can hear me welcome to stop struggling now I'm your host Derek bear and tonight is a 2000 subscriber giveaway winner but of course this is going to be question and answers you can ask me anything in reality but first we're going to talk about a few things they're saying they're not receiving enough video so I might have to restart this they're saying there's gonna be some buffering so let me see if I can either reset this as you can see on my screen here see what we got I'm after look at my see if I have anything coming off seems like we may not have enough buffering so we might have to do this later I might have to run it off my phone I'm running it off diff off a computer tonight so it appears that we're having a little difficulty first time I tried to run it this way so please bear with me and everybody while you're looking and if you can see the screen here were the contest rules and sadly I'll get into it you know how are we doing people did send me the contest rules people here we go alright people did send me their name social media name and YouTube names and then some people started following on one of these social media accounts but part of the rules were because we talked about this the other day America and the world is based on jumping over hurdles going through glass ceilings knocking down walls and here's a simple example number one all you had to do was send an email to contest is stop struggling now comm number two in essence which is number one here was just follow and one of these social media accounts number three was make a comment on any social media site and then leave hashtag stop struggling now well here's the problem number one sending an email people did number two following on one of the social media sites people did but when it came to number three nobody left to comment and they didn't leave a link to stop struggling now calm website nor did they put a link into the YouTube channel or the Facebook group or page or Twitter page or Instagram or Pinterest telegram snapchat nothing so hold on but hopefully you can hear me and unfortunately I'm not privy to the chatroom so let me see if I can get something up real quick so I can join you guys in case you have questions let me see if I can get some all right crazy boy just side thank you for coming yes thank you for letting me know you can hear me I appreciate it so this is the thing just like any brick anybody getting promotions anybody trying to do something in life get started out the easy part was just sending an email the second part was just clicking a link and subscribing or being a follower to one of the social media accounts the third thing where you actually had to just simply leave a message and then post the fourth thing where you would say hey go to stop struggling now or say something along with the hashtag everybody failed you can go look yourself all you have to do is go to Facebook in fact that's what we're going to do and thank you everybody for joining alright so that just means when we hit 3,000 subscribers I'm gonna add the $25 Amazon gift card to that and we'll add something else to it that I'll try to give away and hopefully people will get in the flow so just give you a perfect example here's the again this was in the video this shows plainly what was required and then here we are I'm on my account as you can see and all you have to do is go look asked tag stop struggling now as you can that's all here and you'll see what happened who do you see you don't see anybody here nothing zero somebody else that's May 21st June 22nd you don't see anybody that posted anything July 18th July 18th eleven hours ago bye stop struggling now just letting people know that there's a contest but as you can see nobody July seventeenth look at this all stop struggling now where I leave the hash tag stop struggling now there's people that did leave past tag stop struggling now but they didn't leave a comment so now we can go to Instagram and once again you can put in hash tag stop struggling now and what are you gonna see it's almost gonna be the same thing so again unfortunately this is all we have here okay and again nobody posted anything so therefore it doesn't show up Twitter same thing so what I'm getting at is it's funny when people have to do things they may not jump through hoops and certain things may stop them so again what do you see will go the latest stop struggling now what do you see here the gift card giveaway a new latest video this afternoon where I was telling people here's the gift card as you can see on the screen that I was telling people that they would be receiving and again you don't see anybody posting anything for stop struggling now July 20 July 19 so basically there are no winners and this is kind of sad we've hit 2,000 subscribers and I was trying to give back a little bit this form of this gift card so sadly it won't be given away but stay tuned we always have a lot more coming and I'm here to answer questions if somebody has questions in the chat we can talk about anything any business anything you want to start and in fact in the last video I have been put in there that people could put down any business venture any business opportunity anything that they want to promote in the comments section of my video and people didn't even take me up on that people are trying to start businesses they're trying to create additional income additional streams of income but how many people are actually doing it how many people are trying what I'm trying to illustrate here is there's going to be a recession as some of you have already felt this some of you have already lost your job or have been laid off some of you are part of the 78% of Americans who live paycheck to paycheck what do you think is going to happen when more stores closed when the cost of goods and services continue to rise and you can't make ends meet you're gonna wish you had an additional stream of income this isn't that hard all right so therefore I'm sitting here trying to figure out why people would not try in a platform that other people can see that you would not go forth and if you have a business try to promote it or if you have an idea put it in there and maybe other people to chime in and try to help you out and I'm still gonna do that on the 2,000 subscriber video or on this one this is going to be a live feed run that should be up on YouTube as a video after this is done so don't be shy about it you can do it all right just leave it down below I'm always looking for something new so I just want to thank the jaws channel thank you for showing up and I want to thank everybody once again thank you for being a subscriber thank you for contributing thank you for your support thanks for the love the comments the emails that I receive and everyone that's been trying to pay attention I know it's hard out here but I do want to say something now that I have a few people and hopefully they like I said this will be a copied on to the YouTube channel and it has to do with a company called DSX we've been trying to boost our credit scores because when a crisis happens or a recession happens you'll be able to get into an investment property or get into a property low enough where you and rent it out and make it a stream of income and if you don't have the cash then your credit score the better your credit score is the better you'll be able to buy something and what you want to do with your credit is really turn it into a money-making venture debt into income versus debt for the sake of debt in fact I'm gonna be doing a video because I'm getting tired of people telling me that their house went out in value when it's really a liability and basically people in America have been bamboozled I'll use that word into thinking that when you buy a house and it goes up in value and then you sell it you think you've made a profit but the only reason homes go up in value is because cost of living when you print more money like the government does that means the dollar you're holding is worth less there's such things as inflation there's a lot of variables on why things go up and from 1950 to about 2000 2005 home values would rise and fall so that is one of the reasons why they went up but Millennials and everybody else you cannot expect this to continue because people do not get an increase in salary of 10% a year or 5% a year or 20% a year but yet houses seem to go up that much but all it is is alone you don't own anything so here we go no Anthony Jones do not use a CPM I don't like using CP ends I don't recommend anybody using CP ins if you're gonna take the time out to try and get a CP and credit file you might as well just make your own credit file the best it can be CP NS are a thing of the past sometimes they could work sometimes they don't so why even waste of time energy and effort and the money you might as well do your own file LLC you would get Tyrone ein number once again no reason to use a CP n they're free just go to irs.gov you can do it tonight and get your an EIN number that's simple no reason to do CP n 800 credit score it's not easy but if you've been listening to me then you know where to start first of all 35 percent of your credit score is based on payment history so if you have good payment history no matter when you start your credit even if you have bad credit now just do your payment history so that's 35 percent so what you want to do is you want to have at least 11 items showing for payment history that's optimal 11 or more that 11 could be a mortgage it could be a credit card it could be a car payment it could be a loan personal loan it could be a bank loan it can be a secured credit card it can be any other credit card it has to be a variety it just can't be like 11 credit cards they got late they like to see variety that's how you get your credit score up and I'll give you a little tidbit of something how about this what people don't know is let's say I go down and get a credit card but it's like by this Bank I saw the other day Synovus bank first progress credit one bank they do not hold the same weight points-wise with the credit bureaus as the big boys Wells Fargo Bank of America US bank things like that Chase Bank you got the big boys credit card has more value on your credit score so some people may say hey I have 10 credit cards but if you're 10 credit cards are the like the ones I mentioned that our mainstream they're not big banks then that means is that maybe why your credit score doesn't get the optimal number Chase Bank for instance only allows you to have so many cards within a 24 month period so you have to be careful on what you apply with mr. Chase Bank and if you want an 800 credit score like I said you got to start out with your payment history that's very important never miss a payment or if you do you've got to have 12 accounts where the next month you'll be back up to 98 99 percent the other part of the equation 30% is debt utilization and some of you may say hey I have a seven hundred credit score 725 or 680 your debt utilization is at 40% simply getting your debt utilization under 29% is the first step your credit score will rise if you can get it under 19% that's even it'll rise some more and ultimately if you get it down to under 9% preferably somewhere between 5 and 7% that's where you'll keep in line with an 800 credit score you'll be able to rise from a 725 740 750 – 775 the other part of the equation is you have about 15 percent of age age means I have a credit card that I got in 2015 the age on the card now is four years optimally people with 800 credit scores have average age of seven years just so you know seven years average age so the new people that's why you have a harder time trying to get to an 800 credit score unless of course you've got your payment history down all the time and you got the first part 65% part right and then the age just takes care of itself over time as each month goes by and you have 12 accounts or 11 accounts or 15 accounts that'll help you out so what do people do to combat the age you do an authorized user' trade line you may know family members your parents brothers sisters cousins who've had a credit card for 20 years 25 years who pays on time and the most important part their debt utilization better be under-19 under-20 percent at least I mean you know 29 percent is good but if you can get it under if they've have it for 9 percent or less then that will help your credit score out down will bring your average age closer to the 7 years so that's how you get an 800 credit score I don't know if I'm still streaming I can't see the chat a realization ok here we got chat back up yeah Anthony Jones I do help you might see a video before with Darcy Allen but I kind of help in a different way if you send me an email we've got to find out what your derogatory czar if you have any if not fine but we still have to know the state of your credit on all three bureaus and generally I just have Darcy Allen she does it for a living I don't do credit repair for a living I just know how to do it but she does it for a living so I have her contact you and you can send me an email at Eric it stops struggling now calm that's all you have to do don't be shy about it just hit me up I help you out for free all right that's how it is rod rod for well I have a three year collection what do I do well if we're going to talk about credit I can get into it a little bit depends just again without knowing the particulars on it but let's just go with the basics whoever you have the three year old collection with is it the same company on your report that you actually signed an agreement with so in other words here's what happens somebody goes down to XYZ place says I want a loan or has to deal with money and give up their information XYZ can't collect from you so a beasty collection agency says let's just say XYZ you owe 2000 I'll keep it a higher number $5,000 XYZ uo x Y Z $5,000 ABC because XY then look for somebody to buy the debt so what they'll do is they'll turn over to ABC ABC says hey I'll give you five hundred dollars for it XYZ says okay that's better than nothing so now ABC calls you up and says hey we want to we'll settle for a fifty percent of what you all send us twenty-five hundred dollars but meanwhile the ABC already put you as a collection and for the five thousand dollars on your credit report well since you did not have an agreement with X with ABC you can dispute that because ABC will not have any document that says you signed anything for a loan with them so therefore they will never send it so what the credit bureaus will do after you send a letter into them 30 days later they're gonna send you back a letter saying it's been verified and you know good and well it hasn't been verified because you didn't sign anything with ABC so now this is the game they play so you have to go back in send them another letter except be a little more forceful go and you know by the consumers Protection Act and all that you got a our Fair Credit Reporting Act you have to you know bring these documents to light you got to show me where I signed and they will never do it and so therefore it usually takes 60 90 days it'll come off but that's what you have to do that's for starters just in case that's the case if it's a medical bill again medical bills are hard to deal with sometimes but it's almost along the same line all right because medical bills aren't paid for they still have to assign it to someone else so what I would do is do the same thing you can try to dispute it it's three years old by the way it comes off of your report at seven years and since it's already three years there is good news it doesn't weigh as much as if the collection was just added this past month or past three months or four months the older a collection gets the less weight it has so if you actually come in with new credit or keep your credit up new like the payment history the the debt utilization and all that you can start your new credit right now and start new payment history and that'll your score will rise it'll it'll go up and as that gets older and older it'll be weighted less against your account so and there's other things too there's things like a Novus safe stream and if you're going to start messing with your credit you need to lock these accounts down because the credit bureaus actually contact these guys to get the information so once you understand that then you now know why it stays on your credit report all right Eric white welcome I knew you said you'd show up to the stream but I got bad news nobody actually fulfilled their obligations which is kind of bizarre these obligations right here I'll go over it again all right rot vegan you need more than a one card all right like I said you got to get your get you got to get as many positive cards so if you have one new card if you have get five get six get seven positive reporting items on your card you'll notice in some of my check an older video where I'm talking about boost your credit score and what will happen is you'll see on there where you can even get a secured card would discover like I was saying before discover Wells Fargo Bank of America all these guys Capital One their cards are worth more to the credit bureaus and to your points than just a random JCPenney card if you follow what I'm saying alright MX MX is a little different they don't they don't report payment history sometimes so you have to be careful about Amex they'll show the credit line but they won't show the payment history so I usually try to stay away from an Amex if I'm trying to tell somebody to build their credit because you need something that reports to your gives you debt utilization and payment history those are the two most important things it's not sixty five percent of your score so but Eric right Eric white yeah yeah people did send me the contest they sent me an email they did do the following but the only thing is everybody hit hashtag stop struggling now nobody put a comment saying hey go see stop struggling now at facebook.com/ backward slash stop struggling now and then hashtag everybody just put ask tag stop struggling now so we rolled over the contest when we hit 3000 I'm gonna give away the $25 Amazon gift card plus something else so again if I haven't said it please like subscribe and click the bell below so you get to lay this updates and as everybody know we already got to it so yeah hopefully that help ride okay like I said the three main things you got is 80% of your credit score age debt utilization payment history so if you got those things down you can take you don't even have to worry about your medical the only thing about the medical is it's going to weigh on your debt utilization potentially but like I was going to tell someone up here earlier Anthony Jones you can actually get an authorized user' trade line to offset that if you're trying to purchase something of significance quickly like a car for instance home for instance and you need your you need your interest rate as low as possible then those are the kind of things that you're going to have to you know you're gonna need an authorized user' trade line to offset that debt if you can't get under 29% with the medical which a lot of people can't because medical it's going to be twenty thirty forty thousand sometimes if you're lucky and it's less than that that would be good but if it's over like let's say over ten thousand it's hard to get an au trade line over forty they do exist but if you're gonna if you're gonna look for something like that you're gonna have to spend about twelve hundred to seventeen eighteen under to get a forty thousand or thirty five thousand dollar trade line and statins and still have some age on it to help you out just letting you know but there's a way to do it you can get around you can always boost your score up so you have to worry about that all right so you're in good news you that that's the best news all right Percy star thanks for showing up thank you for your support all the time man I appreciate it yeah in the 650s exactly exactly but Percy check it out like I was saying you got to check out what your what your positives are what's your payment history is you got to check out what's what's reporting send me an email all right let me know what the the cards that you have let me know who's the what the brand is because that may also be keeping you at the 650 like I was saying you might not have the Wells to be of a the Jade the chase to you know the city banks the Barclays the you know the big banks that it does matter on your score and so then even if you have 2.5 years of history if you have like again the 11 or 12 accounts your score will rise every month you just have to wait it out it'll it'll creep up every month and you got to make sure your debt Lou utilization is under 9% it's that simple so just get it under 9% ideally you want it under 7 and by the way there's other things too if you have a problem with your debt utilization and let's just say you have seven or eight accounts what you can also do is you can go call your bank and ask them to increase your credit line or call whoever's holding whatever you're doing with your credit but you can ask them to increase your credit limit and that'll that'll decrease your debt utilization without having to actually do anything so I'll give you a perfect example like you could have a $2,000 credit limit and let's say you owe what nine hundred dollars your debt lieu utilization is almost 4045 percent so that means that that takes down your score also by the way guys and enquiries takes down your score as well so you can't get crazy inquiries that are unknown if you do inquiry could be two points sometimes it's twelve points sometimes it's ten points you just never know so watch out what the inquiries but with the example I'm talking about you have a two thousand dollar credit limit and you owe nine hundred dollars you're around forty forty five percent then you call them up and say hey can you increase this to 3,000 3,500 you know you might want to go a little bit higher sometimes they ask you how much you want to go so you might want to say 3,500 next thing you know they say oh okay well a little increase it to 3,000 now look what just happened all right you're under 30 percent now you're under 29 percent so now your credit score can increase whether it's five points whether it's 10 points for six points who cares but now you're in the range were can increase because your debt utilization now is under twenty nine twenty nine percent or less it's pretty much that simple and you can go across the board if you have six or seven cards you can just call up each one and say hey and you never know one or two might say I will increase 500 or increase a thousand or increase 1500 so it all depends and always be nice don't you know when people talk they talk to about a thousand people a day saying hey can you help me that's all they're here can you help me they don't you know you might want to say hey how's your day going you guys doing good you know did you have lunch did you eat I don't know what to tell you but the point I'm trying to make is you want to act like you have a little rapport because you got to think about it you're a client of theirs they're a client of yours so you might want to be friendly and talk to them like they're your friend they're loaning and allowing you a credit card so that's how you got to talk to them don't be just straight up hey I need I need a credit limit come on now I need an increase can't you help me out no no no be a little nicer all right talk to people all right all right let's see what we got here welcome worms in my soup Jimmy crave cards you should get with bad credit okay if you have bad credit look Capital One first of all Capital One will give you a car whether it'll be a 500 limit to 50 limit 800 and whatever they'll give you a car and most of the time credit one bank they have two cards one that they have an annual fee with one they don't but they give people with like a 650 and under credit score score a car my other thing go to see one of my videos boost your credit score you'll notice I always have discover secured card the reason why I use discover secure card is because after you make payments for six or seven months they give you they release back your deposit and they give you an unsecured card and they increase your credit line it's a win-win but you got to make seven payments in a row on time and then that's it now you have an unsecured card with discover which gives you a lot of points and they'll increase your credit limit too which helps your credit score alright rod yeah those 12 inquiries yeah that's my point those inquiries are holding you up especially if they're obviously if they're on there that means they're within the last two years because inquiries drop off from the two years generally you can get inquiries removed though if you didn't again people I couldn't even give away a $25 Amazon gift card because nobody wanted to step through the hoops people sent me an email people did the following but all they did in step number two was put hash tag stop struggling now instead of putting in a comment and sending people to one of our social media sites or website so here's the same thing here all you have to do to get the inquiries off is send it to the credit bureaus you send us send something in saying something similar to this XYZ company I applied for XYZ company denied me can you please take off that inquiry because I did not receive a loan from them or anything from them sometimes the credit bureaus will take it off it's that simple just do it three times to all three Experian Equifax TransUnion it's easy and sometimes it'll come off that's simple all right worms in my soup nobody wanted to give away because not one person who put hashtag stop struggling now on any social media page put in a link to any of our social media sites or stop struggling now calm website everybody just put in hashtag stop struggling now and that's it so now I've rolled it over to the 3000 subscriber hopefully we get there in a timely fashion I'm sure we will because if everybody shares these videos that I've made I think I've done over the year about 60 videos so hopefully there'll be something you want to share with other people or just have them come over here and watch some of the videos alright Percy thank you for your comment man I appreciate it I'm gonna show that one so everybody can see it I appreciate it right some people don't understand how credit unions work credit unions sometimes have better rates on cars homes savings accounts such as DCU who has a 6.1 / 7 percent yearly savings account so up for your first 1,000 and you'll see that in the last video the two thousand subscriber video I mention it again because that's one of my favorite things it's compounded so really it's like 6% but it's only up to your first thousand after when anything over a thousand one thousand one and onl only gets 0.25 percent but it's a credit union DCU and anybody if you want to referral for DC you semia me mail Eric that stop struggling now.com alright that's all you have to do nothing major that's all you have to do here okay what I'll do is I'll just show you because you should probably saw it in the last video but DCU org it's pretty simple and then they'll have the where is it 6.7% down here as you can see so see on the first 1000 like I show you all the time this is one of my favorite ones because if you refer somebody and you send me an email I need your first name last name an email address I'll send you a referral and when you open up an account they actually give you like 10 or 20 bucks to add to your account after a month or two and then yes I'd also get 10 or 20 bucks – I don't really know what it is but the point I'm trying to make is it's a credit union and they give you loans if you need a loan they give you lower rates sometimes not all the time but sometimes they give you lower interest rates and as far as business goes they can give you business funding sometimes a lot of people missed out on the Navy Federal that Percy was able to get into they had a special 3-4 months back and if you're paying attention and you were a member of stop struggling now you would have known about it and you could have signed up with navy federal navy federal is huge and they do business wounds they do business funding and some people get 20 30 40 thousand dollars but you got to set up your LLC you have to get everything right and you have to age your account so even if you start a business by the way if you start a business and you're trying to get your business line of credit that means dun and bradstreet paid XCore you have to season it you have to get the quill the Grainger start out you have to get a net 30 from those guys and then start it out if you're brand new and you have to have a website and it helps if you have a street address or an actual business address versus your house address but those are the things that they look at when they're doing funding so and you have to have an EIN number and whenever somebody asks you for business if you're going for business funding and they want your social security number you do not put that in there otherwise that means you're going to be a personal guarantee so perfect example you want to XYZ company and you want to ask them for a net 30 or some sort of credit so that it can get on your dun and bradstreet or paid x-score help out so what you want to do is when you fill out the application do not put your social otherwise they're gonna use your social and it's gonna cross over you want to keep your business and personal social separate yeah in SSI separate worms in my suit nobody want I think I already answered it but just in case you missed it just want to repeat that again all right and Percy Starr didn't mention pin fit yeah so if anybody wants to pin fit DCU I can send you information so you can sign up with them and in the long run you just never know so like I said oftentimes they have better interest rates on everything loans credit cards they have everything a normal bank has it's just that sometimes they are a little more lenient because it's like a personal thing to them versus a bank where you're just a number unless of course you're a high-end they have lots of money in a bank then of course you're not just a number you know they start paying attention to you when you have ten twenty thirty thousand dollars sitting in the bank alright so again I want to thank everybody for listening if you have any more questions about anything let me know down below after this video is wrapped up I'm probably going to post some information and the next video is going to come out it's going to be a little different we're going to talk about Experian bust you pretty much know how I feel about this already giving people information like a communist country where you're giving them your bank accounts you're telling them giving your account numbers for cell phone bills energy electric bills bank accounts and we're in a situation where our governments already trying to extract money from its citizens it's just a bad thing to me but it can help people who have no credit especially if you've had a cell phone bill for three or four years and the same cell phone company and they can track three or four years with the payment history that's 35 per city of credit score same thing with your electric bill if you live somewhere for five six seven years that will give you age and I'll give you a payment history for all your on-time payments if you were late or something they won't include that but if you have eighty four payments of on-time payments and they can add that to your credit score and if you have a bad credit meaning you know five hundred source low sixes that'll move your credit score up pretty simple so it could be a good thing it could be a bad thing other videos are gonna be coming out real estate a lot of you have been thinking about buying homes but like I made a video probably about three or four weeks back where I was saying maybe not the time is not now wait about six to 12 months make sure your credit score as high as possible in the sevens because there is going to be a recession in fact has already started new home sales went down in May 7.8% homes if you live in Vegas 85% of homes went down in Vegas and you know how that how Vegas is so there's a areas around here that's already showing signs that there are home prices are coming down so just be you can wait don't rush you'll be sitting a lot better if you wait six to twelve months all right DSX design right okay percy thank you for bringing that up because actually i'm going to be making a video about DSX design but I might as well tell everybody right now DSX design they posted on TransUnion originally a few people have postings on TransUnion then they were supposed to do I believe Equifax like a month ago or yeah I think it was a month ago I was in contact with DSX in fact I was supposed to go over to Miami and see them and talk to them about a few things well it's come to my attention now because I've been trying to reach them for the last two or three weeks I can't reach anybody and I don't recommend using Deus Ex in fact I took DSS DSX links off of all the boost your credit score accounts that I have on the videos and the information down below I took it off because now I can't contact him for three weeks all I can do is leave messages and emails nobody calls me back so I have to assume and I hate to use the word scam because when they post a transfusion originally it wasn't a scam but then what happened is the accounts came off in June which means now we can't contact them nobody can contact them and now it's living like a scam I hate to say it and I just haven't went over to Miami yet so and I probably won't because it's obvious there's no way to call them all that God does is roll to the voicemail person answers the phone and say somebody will get back in touch with you I sent messages to the directors and a few other people that I initially was talking with and they're nowhere to be found at this moment so I have to assume Percy I'm sorry but it looks like these guys are just straight scam artists as it turns out or basically what happens to a lot of people they posted and then the bureau said we're not going to allow you to post no more we checked out your website it seems like you know whatever the case may be and these guys were at the at the credit conference what was it in May and at a booth signing up people and getting people to be representative affiliates for them in May and a major credit conference so that's why this is kind of surprising and then they told people that yeah it was going to post on Equifax and then some people didn't have theirs posted so then they would say oh it's going to be the 20th of the month and so you know I believe it was June 20th maybe the last time I spoke to anybody and that's what they told me around June 15th they said I'll don't worry we have everything hand a little post On June 20th well June 20th came and the only thing that happened was June 22nd or 23rd or something that said the accounts no longer on your file so so from that point on I'm assuming nobody else has it posted and I have to apologize to everyone about this because I had a lot of people sign up and I actually looked at my back office and I saw some referral monies and I'm not even gonna withdraw and probably can anyhow but the point of the matter is they just it's just not right so until I can talk to these guys or find them or they call me back or something and find out what's going on it's further notices do not do anything with DSX and that was gonna be another video I'm coming out with because now my reputation is also sullied because I recommended these guys and they started off doing right but then as it turns out now for the last like I said two three weeks I can't get in touch with anybody and I'm sure as a customer and I'm a customer and affiliate I'm sure affiliates I mean customers can't get in touch with them either so I'm hoping people paid using their credit card so then that way they can do their charge back so that's the only thing I can suggest so anytime you're doing business with these new companies I would use my credit card and I don't even care about anything yeah so yeah sorry Percy sorry everybody if you're listening to this DSX do not do anything with them until further notice and everyone who has if you can get your money back please do so immediately because who knows where they are right like I said Eric it's tough shoot me an email rod Erica stop struggling now.com all right and I can send you a referral I'll need your first name last name and then that way I can send you a referral and then we'll go from there and long as you can deposit anywhere from $5 to a thousand it'll earn 6% so you know I've nothing to worry about it's compounded and it keeps going up now there's something that I rarely talk about is numbers and I the numbers I talk about they're usually statistics but what people may not realize is when you're the number 72 is important when you're talking about interest this is how you know when you double your money so at 6% you divide 72 by 6 and however many times that is what is that six times what is that twelve almost yeah thick it is twelve yeah so twelve so that that takes twelve years to double your money all right so when you're out here buying a house and you have an interest rate of 4% and you have a 30-year mortgage they know you got to do is figure out how many times 4% goes in four goes into 72 all right and that's pretty much your answer so you buy a $300,000 house you didn't pay double in about 20 years all right less than 20 years so around 18 years at 4% 18th year you then paid double so that house you then paid 600 grand for you haven't even gotten to 30 years yet so now at 18 years somebody tells me oh yeah I lived here for 15 18 17 years I bought the house at 300 now I'm selling it for 600 did you really make money and never mind about repairs taxes anything else that broke in the house over the years so most people don't think this way so that's why I'm saying it's a liability so we're gonna have a conversation about that too so stay for that video and by the way thank you everybody for watching the livestream I appreciate it the other livestream that we did I had UFC whatever was running in the background on silent so YouTube banned me for 90 days from being able to do live feeds this is the first live feed that I've been using the OBS software there's OBS and there stream labs they're kind of similar but I'm trying this OBS so hopefully it works out hopefully I'm coming through loud and clear and it's not too choppy I'm reading uh di do I have to jimmy cave do I have to open checking account in order to get Bank of America secured card probably or savings or bypassing them all together just go get the Discover card discover surf discover hit secured card go look at one of my previous videos where it's boost your credit score I have a link there where we both get a little fifty dollar statement credit if you sign up using my link alright just go there and get the discover it counts the same weight as a Bank of America you don't have to do B of a you can do Wells Fargo you can do Chase you can generally everybody has a secured card these days but I would use I don't like B of a quite frankly but it's for personal reasons I'm not saying that everybody shouldn't like B of a but discover discover it like I said just go to my boost one of my boost your credit score videos and used to discover it and then you'll get like $50 statement once you do three months and by the way like I said before with discovery its secured card after you've made seven payments on time they give you back your secured amount and they give you an unsecured card and they raise your credit limit so that's why I recommend now alright and they give you a better score just like be of a just like Citibank just like Capital One just like Wells Fargo as far as your credit score goes so that's why I recommend that so hopefully you'll go that route versus Wells Fargo round all right let's see what else we got here anybody else have any questions go for it I'll answer them don't have to be shy just like I tell everybody just send me an email if you have questions I'm available in fact a lot of people have my phone number and they just call me up so I guess I should give a plug let's talk about business then let's talk about the little online businesses you know the stats if you've been paying attention to stop struggling now that comp seventy percent of the people who were living paycheck to paycheck sixty percent of the American population makes under $40,000 a year come on let's get real you guys know how this works if it cost you $1,000 to live in an apartment you have to earn three times that amount that's three thousand three thousand times 12 is 36 thousand you're not going to qualify if you have any other debt and how many people don't have any other debt so you need a extra stream of income you also know millionaires on average have seven streams of income so what are you waiting for if you are not a millionaire then come on now let's get with it so everybody knows I have a few of my own little favorites which is IX qtv but hey I'm trying to help people save money on their cable bill satellite bill $39 a month or less you can be a customer refer for other people this is not even have nothing to do with network marketing anything you refer you for other friends and your TV services free IX q TV give you your own website if you're a customer so you can sign up other customers but I personally I like business so I signed up for $59 initially for business so that way if I sign up a customer I get you know fast start money plus monthly residual and then if the customer signs up another customer I also get paid for that too and also if I sign up another IX q pro business partner I get Commission for that too but ultimately we're all saving people money because if you all didn't watch the Pacquiao Thurman fight it was on IX q TV UFC ESPN plus MMA all that's on NFL tickets on MBA league passes on MLP hockey ice it's all there and if you in from a different country it's there I mean it could be Egypt it can be Africa it could be Canada it could be Australia it's UK there's all kind of countries and it's in their language Germany friend came a guy came to my office to buy something and he overheard I was switching channels and he heard some show and German and that's his show when he's in Germany that's what he watches he couldn't watch it anywhere in America but it's on IX q TV so if you want to sign up with the ice cube TV it's pretty simple just go check out the one day free trial no cable bills calm I'll repeat that no cable bills calm pretty simple and that'll get you your one day free trial so that's the plug for that and because the other stat is 30% of Americans work a second job some of you are our drivers for uber lyft things like that there's a new company trying to come out call trip I have my own personal views on that but as far as signing up for free were they were you're a passenger and just have the software and if you share with anybody else as long as the passenger uses the software you get a little step in believe it's like 40 cents 10 cents whatever the case may be but it's for life so you can go to get ride share cash calm and go sign up for free referral code Eric no trip Eric T ryp Eric 174 3 so I can't write in this on the screen but hopefully that helps you guys out anybody else have any questions because we're gonna wrap this up well you got me can I give you the link sure link to what though the no cable bills I'm putting it in right now and then I'll give you the other one everybody can see it right now let me see the get ride share cache dot-com and use referral code 17:43 all right hopefully that helps you out there alright so either one of those can start you out with something and if anybody else has anything to contribute as far as business offers or businesses or looking at anything you can post down below you know I like to review new business I'm looking for some new business to enter into it's just that most businesses are all like in pre-launch like the trip or their new like I XQ is actually a new relatively new company so you don't have hardly any good track record and then once you start and something happens it's like a year later two years later or less and things just go out of whack oh and by the way I should mention I keep mentioning this I have SIM cards that last nine years I still have two or three left I don't know yet but it's an unlimited talk text and data you can hit me up Erica stop struggling now calm it's only three hundred twenty seven dollars you got to get a new number but you need an unlocked phone and that's it order the SIM card and you'll have no cell phone bill no taxes no nothing for nine years so I think we're about to wrap this up hopefully this dream came out great and it'll be recorded if anybody else has any questions please let me please ask them now I'm just gonna this is about an hour long so I'll see you later Percy thank you and I'll check your email later on the night and Siobhan Harris thank you very much as well and everybody else who's been on this livestream I really appreciate it thank you for your support and share with your friends like I said you know how we always in this please like subscribe and click the bells below so you get the latest updates and like I always say it's hard out here for everybody so you know you're supposed to keep your head up keep moving stay tough don't deviate stay strong keep moving keep doing what you need to do and don't let other people tell you you can't do something you got to find out yourself if you can do it or not go forth don't be scared everybody's scared of something but you got to go through it the other side of fear is confidence because once you go through it now you're confident that you can do it you're confident you can handle it so thank you life media pro thank you for showing up I'm almost signing off and just so everybody knows for the last time when we hit three thousand subscribers the $25 Amazon gift card is going to be included in the next giveaway and then I'll add something else to it at 3,000 so thank you for again for watching and it's going to be a good night

How to save money? Get UNcomfortable!

**How to save money? Get UNcomfortable!**



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hey what's going on everybody hope you having a good day as always my name is Michael thanks for joining me so today when we talk about being uncomfortable okay and how when it comes to money being uncomfortable is a good thing okay specifically last time I talked with Whitney and you know she shared her story about how she paid up thirty seven thousand dollars of debt in less than two years well she did it because she was uncomfortable with having debt right if you are wanting to save money or become super wealthy it will benefit you to be uncomfortable okay that is going to motivate you and inspire you so what I want to do is talk about some things that you can do to be uncomfortable right let's get comfortable with being uncomfortable right and hopefully you can see with a few of these examples where I'm getting at and I'd love for you to share your ideas down below but let's get started number one what can you do cut off your thermostat and start taking cold showers this alone is so easy to do it requires next to no work whatsoever got to be willing to bet 75% of people just absolutely would refuse to do it why because again they're just they're used to being comfortable right but if I said you can save I don't know 50 dollars a month on your electricity bill every single month by just doing this that's not nothing that's still money that's six hundred dollars at the end of the year right and all it requires you is just to do nothing you turn it off and you take cold showers for the thermostat if you're cold put on some extra clothes if you're hot take a few clothes off just saying right as far as cold showers I'm not gonna lie to you guys it sucked but I've been doing it for a while it gets easier and easier each time and here's the benefit I save money all right on my utility bills I use less water good for the environment and I use less water because who wants to be in a cold shower for a very long time lastly there's a host of health benefits that I'm not qualified to tell you all of them but your body regulates temperature better if your amande it's better for your testosterone levels there's so many things that it can do for your immune system and all sorts of things that there's too many benefits not to do it alright so number one cutoff they see the heat and start taking cold showers number two cut cable this has been going on for quite a few years now but guys if you still have cable ask yourself why okay because between Netflix between YouTube between podcasts between so many other things there are so many entertainment options out there you really need to stop wasting money on cable okay I love college football I love watching the NFL when it's in season but does that mean that I have to pay for cable year-round no more than likely a frickin TV antenna is it give me everything that I need and therefore I still have to pay cable so what are the benefits obviously you're saving money and you're probably saving a hell of a lot of time that you really shouldn't be spending in front of the screen anyway number three remove a meal out of the day now again this is one that I'd be one but ninety percent of people would not do thinking oh my god don't eat a meal at a day like what sort of masochist a person arse you like who's gonna seriously stop eating lunch or breakfast and I'm here to tell you guys it's not hard you'll totally live you will be okay the human body does not need three meals a day to live okay so just get that out of your head and again this whole thing is about being uncomfortable using it to your advantage to build discipline and save money so if you're the type of person that constantly goes out and buys breakfast and a coffee every single morning cut it out no breakfast for you suck it up deal with it eat a big lunch and a dinner that's that you'll be happy to know that you're probably save hundreds of dollars every single month if you're the type of person that goes to work every day and you buy lunch will forget about that make yourself a big breakfast at home eat it don't even tow there and that's that again you're going to be saving money it's not hard people you just got to do it so what are the benefits you're saving money obviously you're building even more discipline and you know you can look up intermittent fasting and if you continue to do this type of stuff you're probably gonna lose some body fat at the same time next in a very very similar vein stop buying junk food and lysate junk but it doesn't have to be literally potato chips or snickers or anything like that just crappy food that's bad for you and you know what these foods are stop buying it it's really simple guys they're not good for you they cost money do I really need to explain the benefits I would hope not next let's talk about music subscriptions I'm talking things like Spotify Pandora whatever mint whatever else may be out there I'm sorry but if you have debt or if you're not where you want to be financially you really should not be spending ten dollars a month just to listen to music without ads it's not that cumbersome to listen to 30 seconds worth of ads for every 30 minutes just get over it it's not hard okay you're never going to be where you want to be financially if you can't even get over something really really small such as that alright next I would encourage all of you to go back and look at every single transaction you've made for the year so far which hopefully it's not a lot but if it is a lot tally it up see how much money you spent on excess expenditures and ask yourself like do I wish I had that money back or no do I stand by that purchase I'd be willing to bet there's at least five things you were like probably wish I had that money back I could have used that money to pay off debt I could have used that money to save could have used that money to invest whatever it may be it's more than likely a better financial move than paying for whatever useless junk you bought with that what is the benefit in this case it's just motivation but you can use that motivation to again get out of debt save invest big down payment on a house whatever it may be use being uncomfortable to your advantage right and when some people look at their expenses the pretty damn uncomfortable lastly I'm going to say stop pampering yourself okay when I say pampering yourself I'm just saying like stop wasting money on all these small just super super unnecessary things in life whether it's massages whether it's manicures and pedicures and facials if you're someone that needs a personal trainer to go work out go learn to work out on your own read look up YouTube videos all this information is out there you don't need to waste money having someone else trying to hold you accountable for it right if you old water just stop by a water filter and never pay for that stuff ever again if you have to buy Starbucks every day or energy drinks every day just stop you're wasting so much money now I want to say here real quick I'm not saying any of these things are inherently bad I'm really not what I'm saying is if you're not where you want to be financially you need to get uncomfortable you need to understand it's going to be okay if I cut it some of this stuff out in life right if I can do all of the above who knows maybe you're saving like $400 a month right that's forty eight hundred dollars a year right and if you look at that but I've never had that much money in my bank account then that's a sign that you should probably start doing some of these things so guys that's what I want to talk about today I don't want this to come across as like an angry rant I'm just someone that appreciates when you just say look guys this is how it is this is what I need to start doing or stop doing you know let's not play games here if we're trying to do something financially what isn't be the fastest way to get this done so I would love to hear from you guys what do you think about this right if you totally disagree and just say I'm going to meanest person on earth for saying this or you're like no there's even more things you can cut out definitely let me know below but thank you so much for watching guys take care I'll see you next time

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How to Stop Living Paycheck to Paycheck | Stop Counting Down to Pay Day | FrugalChicLife

**How to Stop Living Paycheck to Paycheck | Stop Counting Down to Pay Day | FrugalChicLife**



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hello and welcome to my channel my name is nicole from free gucci glidecam we're together we're learning how to earn more spend less and grow the gap today I'm back with another money management Monday video and the topic of today's video is how to stop living paycheck to paycheck have you ever had that uneasy feeling counting down the days to payday because you have more month left than you actually have money it's definitely not a good feeling to be uneasy with your money and feel as if you are just a slave to that paycheck so one of the ways that you can break that cycle of living paycheck to paycheck is to get one month ahead in your bills the first step is to know exactly how much you're spending every single month if you're going through everyday life and you're just swiping your card you have no idea how much money you're spending then that's seriously problematic so one of the ways that you can combat this is to operate from a monthly budget now of course some things are gonna fluctuate from month to month but it is a good idea to just have an average of how much you are spending in each month the best way to figure this information out is to create a monthly budget list all of your regular recurring bills and also list all of your usual household expenditures and at the same time you want to add up how much money you have coming into the household so I do have several videos about how to create a budget and I also have like a little mini budget workshop tutorial if you are interested in learning how to do a budget in Excel I also have a template that's available and I will include the link in the description if you want to get hooked up with that email series and get the template directly in your inbox so after you know how much you're spending on a monthly basis in your household the next thing is to have a starter emergency fund I do recommend at least having a little baby emergency fund in place before you decide to work towards getting one month ahead of your cash flow you're gonna want to have that buffer or that money there that's available just in case an emergency comes up and life will definitely happen at some point in time so it's good to have that emergency money set aside and of course you can add to it later but I do recommend that you have at least a thousand set aside for your starter emergency fund now once you know exactly how much you're spending on a regular recurring monthly basis and you also have your starter emergency fund in place the next step is to start setting aside money so that you can accumulate that one month of expenses in a savings account so what I did was utilize money from bonuses from work also income tax refund money I was intentional about putting that money aside into this account with the hopes of being able to get one month ahead in my cash flow so any windfall of money that comes in you're gonna put it aside into this account I label mines monthly cash flow so that I know specifically that this money is for the next months worth of expenses now once you've reached a point where you actually have that one month's worth of expenses set aside in an account you can officially get one month ahead in your cash flow so essentially you will have access to your entire next month's budget in one sitting so let me give you an example let's say that your monthly household budget is $4,000 you need $4,000 in order to run your household for the entire month so let's say you're working towards this goal of saving up this $4,000 and the month of let's say September rolls around September rolls around and you're now completely finished saving up that $4,000 now what you're gonna do when October rolls around at the top of the month is you've created your October budget and now you have your $4,000 to cover all of your household expenditures for the month of October so at the top of the month you can pay your mortgage pay your rent you can take out your $500 for groceries or whatever your grocery budget is you can pay your utilities or have that money to set aside so that when the utilities roll in you can just pay those bills as they come in you're not having to wait for payday to roll around so that you could pay this bill or have to wait and keep half of the money from this paycheck and then half from the next paycheck so that you can meet a big expenditure for the month you already have access to all of your money at the top of the month and you could just pay those bills as they come in so then as your paychecks come in because you already have all of your bills covered for October as your paychecks roll in in October you're going to set those aside and use that to pay your bills for the month of November so it's just as simple as that is not very complicated the most difficult part is actually getting to the point where you have access to that entire month of expenditures set aside and an account once you hit that mark then it's much easier to break the cycle of living paycheck to paycheck and then all you do after this is just repeat the process of course you still have to make sure that you actually sticks to the budget that you set up so that your numbers add up and that you're not overspending and falling short at the end of the month of course that goes without saying you still have to do that but once you break that cycle of living paycheck to paycheck there's just a sense of relief a sense of having peace of mind in the way that your money is gonna flow and you no longer have that uneasy feeling of counting down to payday I hope that this video helped you I hope that you now have some clarity on how to break the cycle of living paycheck to paycheck if you are still living paycheck to paycheck right now don't be discouraged you can definitely make your way out of it I will also include a link in the description box below of a blog post on how you can effectively budget even if you're currently living paycheck to paycheck once you get that budget in place it's gonna make the rest so much easier if you have not already done so please hit the subscribe button please hit the like button and please feel free to share this video of somebody who you think could benefit from it thank you for watching and until next time live well and be blessed