Forex Coral

Living from pay check to pay check is an enemy of financial freedom

What does it mean to live from pay check to pay check?

Living from pay check to pay check implies that you have to wait until the next salary comes up before you can get what you want or put in another way, it means relying solely on your next pay check before you can afford a good meal. Living in the moment can be regarded with living from pay check to pay check, there are people who get into huge debt before the next pay check comes in and immediately it comes, the complete money is used to pay off the debt owed this implies that this people are only working to pay off their debt, this attitude keeps going on for years and those who fall within this category are usually unable to save or even make any valuable type of investment.

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Consequences of living from pay check to pay check.

This attitude of living from pay check to another pay check makes you pile up so much debt which in the long run becomes difficult to pay, the more debt piled up, the more difficult it is to keep up with instant re-payment.

Living pay check to pay check gives you no room to make arrangement for unforeseen expenses, anything unplanned may happen to anyone at any time and living from pay check to pay check will only worsen the situation of getting you into more debts.

How to get out of the habit of living pay check to pay check.

Fortunately, we now live in a world where it is easy to have a new side hustle, you can run your usual job and still have a little side hustle over the internet that pays you almost immediately, with most of this side hustles, you do not have to wait until the end of the month before receiving payments so this will help with your savings and sorting out other unforeseen issues.

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Have a secured budget type.

Budgeting is a strong tool that builds having a sustainable financial life, living on a good budgeting system that also values savings will be great tool to build a sustainable financial life.

Take total charge of your spending.

One thing that keeps killing a lot of people’s finance is spending the money they do not have, piling up more debt every day. Taking charge of your spending, gives you a total and complete control over all you own and within a little time, a sustainable finance will be achieved.

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