How to Stop Living Paycheck to Paycheck

Ending the laborious payday to payday cycle is hard. But you can learn how to stop living paycheck to paycheck with a few handy tips and tricks, including making use of payday loans to recover from financial hardship and get back on your feet.

Below you'll find the top 5 ways you can stop taking your bank account to zero before the end of every month.

How to Stop Living Paycheck to Paycheck

1. Make a Budget

The first step to learn how to stop living paycheck to paycheck is to make a budget. This will become your best friend!

Unfortunately, writing a budget and sticking to it are two very different things. When you budget properly, you actively track your spending and work on the "once it's gone, it's gone" philosophy.

Ideally, your budget should have all your monthly and yearly expenses added in. That way, you will never be surprised when your heating bill becomes higher, or your insurance premium is due.

Not only will your budget help you stop living from payday to payday, but it will also prevent impulse spending.

2. Reduce Your Spending

Once your budget is up and running, the next step to learn how to stop living paycheck to paycheck is to cut down on your spending. This allows you to have money left over that can go into savings.

Initially, the challenge is finding out how you can save in each spending category (entertainment, food, etc.). When you get into the swing of things, you'll find that there are loads of ways to reduce your spending.

Spend less than $50 on food this week and see how that goes. Then, increase this amount after a month or a couple of weeks. Incrementally cutting back makes it much more manageable.

person holding small umbrella over stack of coins to build emergency fund

3. Save for Emergencies

You need money in the bank if you want to stop living from paycheck to paycheck. This is achievable if you actively try to save.

Try acquiring one month's entire paycheck in your emergency fund to begin with. This will give you enough extra cash if the unexpected happens.

Ideally, you should aim to build 6-month worth of money in your emergency fund. You'll feel much better equipped to deal with the challenges that might come your way.

4. Never Rely on Company Bonuses!

As soon as you start receiving regular bonuses, you may begin to rely on them around Christmas and other high-spend times.

But don't do this.

Bonuses are never guaranteed. Your company can stop giving you it at any time. Instead, create a separate budget for your bonus. You'll probably want to use them to pay off debt or increase your emergency fund from step three.

5. Find Ways to Increase Your Income

Arguably, this is the most enjoyable part of your journey to learn how to stop living paycheck to paycheck. You can increase your income to make your life easier (but make sure you keep that budget intact!)

There are plenty of ways to do this. Here are some ideas to get you started:

  • Take paid surveys with sites like Swag Bucks or Inbox Dollars.
  • Answer professional questions using sites like Just Answer.
  • Sell items you no longer use or want.
  • Start social media marketing for businesses.
  • Sell your crafts on Etsy.
  • Use your employee benefits. 
  • Create and sell an online course.
  • Sell your photographs.
  • Learn a new skill that you can monetize.

man dressed up as a super hero to tackle paycheck to paycheck

When An Emergency Strikes, Texas Payday Loans Can Help

While you're trying to build your emergency fund and prevent living paycheck to paycheck, a problem may happen without any warning. When it does, it can be hard to cope.

That's where a Texas payday loan can help.

Payday loans are a type of financial solution that allows you to bridge the gap between paychecks. They are a short-term option for your money troubles and should only be used in emergencies like:

  • Making necessary house repairs.
  • Funding unexpected but necessary travel.
  • Paying medical bills.

The process is quick and simple; you can get your money in as little as 30 minutes. Just follow the steps below to get your hands on one of our Texas payday loans.

A Step-by-Step Guide to Obtaining Texas Payday Loans

  1. Fill out the online inquiry form on Texas Car Title and Payday Loan Services, Inc. It sends your information straight to the closest location to you.
  2. You'll receive a call from our loan expert who will discuss the process and answer your questions. They will also schedule an appointment with you.
  3. Go to our nearest location with your most recent pay stub, driver's license, and a blank check from your checking account.
  4. Wait while our loan specialist examines your paperwork.
  5. If approved, you'll receive your money (up to $1,200) on the same day.

Start The Texas Payday Loans Process Today!

Now you know how to stop living paycheck to paycheck, the only thing to do when you need money quickly and urgently is to let us at Texas Car Title and Payday Loan Services, Inc. help you. Submit your online form or give us a call today to find out if you qualify!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.