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Money Matters

How To Stop Living Paycheck to Paycheck

Think twice before going on another shopping spree once your sweldo rolls in

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Photography: Pexels (Main Photo)

While you should more or less have stable finances by your 30s, not everyone consistently hits those money goals—there will be times when you’re good, and times when your plans go awry, leaving you at the mercy of the next paycheck.

That’s okay. It happens to the best of us! But while it's unavoidable to hit a speed bump once in a while, having financial setbacks should not be the norm. With the same take-home pay, you can actually survive the next fifteen days without having to crawl through the last two until suweldo by trying to:

Budget wisely


Sure, you already budget your money once your salary comes in, but what exactly do you budget for? If you’re starting off with your bills, then you’re doing it the other way around. It’s important to set aside money for savings and investments first, like a way of paying yourself before paying everyone else. This way, you’re sure that you have money to fall back on in case something happens.

Take another look at your subscriptions

Paying for utilities and other peripherals isn’t something that you can really get away from, but you may lessen the blow on your budget by checking for services you don’t really need, or at the very least, you can scrimp on. Do you really need to have that expensive data plan? Do you still watch cable TV now that you have Netflix? You don’t have to deprive yourself of the good stuff, but you can be smart about what you pay for.

Be more aware of “small” purchases, both online and offline


That expensive cup of coffee you buy everyday and the copious amounts you spend on online shops can easily accumulate to a great deal of cash spent. You may have a hard time wrapping your head around that thought for now, but try this: write down how much each of your small purchases cost and how many times you splurge on them in a week, then in a month. Do the math and see how much everything is costing you in a year. Trust us, it’ll help put things in perspective.

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Pay your bank bills on time

Spending for interest and late charges is like throwing money down the toilet. Make sure you’re up-to-date with all your credit card bills and loan payments. Not settling your bills on time is the fastest way to drown in debt, as it can begin a very financially unhealthy cycle of creating more utang to pay off utang.

Be partially liquid

Being liquid means you always have access to physical cash. While it’s good to put money in safe and secure financial pockets, maintaining a certain amount of money at home can help tide you over in times of sudden expenses or emergencies without having you tap into your current suweldo budget.

Invest, invest, invest

Remember what we said about paying yourself first by saving and investing? This is something that you should take to heart because investing—whether in mutual funds, stocks, retail bonds, or any other financial vehicle of your choice—can actually add to the earnings you get from your regular job. While the results are not always instant, it’s still better than just keeping all your money in a savings account that earns very little annually.

Find a side hustle


A bit of raket never hurt anyone! The best activities to earn from are those that you love doing. If you're a great baker, then maybe sell cookies. Take on freelance jobs, or even look into consigning products and creating an online shop. Who knows, it may even become a legit career later on.

Live within your means

Probably the smartest way to avoid living from paycheck to paycheck is to live within your means, and maintaining a certain kind of lifestyle even when you get a raise. While it's okay to treat yourself once in a while, don't make splurging a habit. Differentiating needs from wants can help you properly prioritize your cash-outs while still allowing you to enjoy your hard-earned money. 

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This story originally appeared on FemaleNetwork.com.

* Minor edits have been made by the Realliving.com.ph editors.

More on Realliving.com.ph

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