What Can I Do When I’m Living Paycheck to Paycheck?

63% Of Americans Are Living Paycheck To Paycheck…

Here’s How to Get Your finances Back on Track

The rising costs are also making it harder for people earning six-figure salaries to get by. As inflation continues to rise, a growing number of Americans are living paycheck to paycheck, according to CNBC.

As of September, 63% of Americans are currently living paycheck to paycheck, the news outlet said, citing a newly released LendingClub report. That is a six percent increase from last September.

The rising costs are also making it harder for people earning six-figure salaries to get by. The report noted that 49% of that group reported they were living paycheck to paycheck, an 11% increase from last year.

For many people, even working two jobs isn’t enough to earn a comfortable living. Of the Americans living paycheck to paycheck, 26% work for at least two different jobs.

Over the past 12 months, wages have increased by 4.9% while inflation rose by over 8.2%.

81% of households have more than one breadwinner, yet 4 in 10 have only one significant household source of income.

“Being employed is no longer enough for the everyday American. Wage growth has been inadequate, leaving more consumers than ever with little to nothing left over after managing monthly expenses,” Anuj Nayar, LendingClub’s Financial Health Officer, said.

“With inflationary pressures not expected to subside anytime soon, living paycheck to paycheck has become the norm,” he added.

“Many are pessimistic about their odds of increasing their paycheck by switching jobs, and some households will become more vulnerable to swings in labor market conditions. This could cause many to struggle with the upcoming Holiday season.” We suggest you follow the Formula for Prosperity and Success

When our team read the headline on CNBC it hit us hard. Because we know it’s about to hit many of you, if it hasn’t already.

This news story is BRUTAL. It means about 100+ MILLION American workers are barely getting by. 

This includes people making over six figures a year.  They work hard, follow the rules, and still it’s not working the way it’s supposed to.

Here’s the question… are YOU in this 63% group?

If so, let’s work on getting you out ASAP.

What to do When You’re Living Paycheck to Paycheck!

Yes a staggering number of Americans – nearly 80 percent – live paycheck to paycheck, and this problem has only been exacerbated by the Coronavirus/COVID-19 pandemic. By learning what we have offered in this information they will learn How To Attract Money

If you’re barely making ends meet, it can feel like you’re stuck in a trap and powerless to break free. Maybe you should listen to this INTERVIEW WITH THE DEVIL/ OUTWITTING THE DEVIL and As A Man Thinketh to stop living paycheck to paycheck.

While it can be difficult to end the cycle of living paycheck to paycheck, there are actionable steps you can take like those in The Law of Success You can slowly start saving money. Maybe it s time to for you to study The Law Of Financial Success

[1]: Write out your plan and budget

If you haven’t done so already, writing out a detailed budget is the first step to saving money. Once you have budgeted for the necessities – rent, food, utilities, transportation, etc. – make a list of your discretionary spending. Many people who live paycheck to paycheck have already cut down on all non-essential spending, but if you haven’t taken a look at your budget in a while, you may find areas where you can dial down spending.

For example, you might be able to reduce your food budget by eating out less or shopping at a less expensive grocery store. Perhaps you can temporarily cut out cable if you find you’re not using it often. If you ever receive a windfall that you didn’t budget for, such as an unexpected bonus or a tax refund, aim to put the money into your savings or apply it toward debt. You may need to listen to Think And Grow Rich or The Science of Getting or the The Master Key To Riches

If saving within your current income and budget parameters isn’t working and you have extra time, you might consider taking on a side gig to make additional money, such as network marketing, coaching, babysitting or driving for a rideshare service. Plan your budget so that any money you earn from odd jobs can go straight to your savings account.

The Money Enigma: There is little likelihood that your life can become fully functioning with prosperity unless you have a positive and creative attitude toward money. It is rare that a day will pass when you will not have some kind of monetary involvement with the world. You may go into the day with the highest intention to walk in the light of Truth. But if you have not resolved the “money enigma,” you quickly lose your lofty awareness the moment you dip into your wallet.

[2]: Open a savings account

A designated bank account is essential as you begin to build up your savings. Look for an interest-earning savings account with limited access so that you can’t easily transfer the funds to a checking account. Once you’ve opened a savings account, make an initial deposit and then contribute to it whenever you’re able. Banks generally require a minimum deposit to open a savings account, but this can be as low as $25, so do some research to find one that will align with what you can afford.

Many people find it helpful to set up automated payments each month to add to their savings. Even if it’s just $10 or $20, knowing that you’re adding to your savings little by little can decrease the stress of living paycheck to paycheck, and the dollars will add up over time. If recurring automatic payments don’t work for you, try simply “paying yourself first.”

When you receive each paycheck, deposit a small amount into your savings before you use the money for anything else. Some weeks it could be $5, others $25, depending on your expected expenses. This approach will ensure that you are at least saving some of your paycheck. Unlike automatic payments, however, you can adjust the amount based on what you can afford in any given week or month.

Maybe you should consider Money Is God In Action This material created a minor sensation when it was announced in the Religious Notices page of the New York Times. Equating God with money was unheard of in New York, from St. Patrick’s Cathedral down to Wall Street’s Trinity Church. New York was never the same after that.

AFFIRMATION: “The universe supports me and maintains me in freedom because God is the Source and continuance of good. The Mind which created me sustains me. Money is God’s means of giving me ease and freedom. It is the symbol of the Divine Supply forever maintaining me in comfort.”

AFFIRMATION: “I use money for the glory of God, the good of my fellowman and the ease of my own experience. I believe God wants me to be happy and prosperous. I do not want anyone else’s money because God gives me the ability to earn my own. My earning capacity depends upon my consciousness, and I now have a prosperous consciousness. I receive money with appreciation, and I spend it with wisdom. I know that God is my Source of supply and that more money flows into fill my every need. I think in large and generous terms. I now let money appear in all possible ways. My faith determines my fortune. Money is mine to use but not to own. It circulates in my life with ease. I know my spiritual responsibility for the right use of money. It is God’s way of making my life free.” ~Dr. Raymond Charles Barker

[3]: Refinance

Debt – whether small or significant – can make saving much more difficult. Luckily, there are ways to prevent debt from stifling your ability to save. Try to pay down as much of your debt as you can before you begin building up your savings.

If you’re struggling with student loans, look into forbearance and deferment, as well as loan assistance and forgiveness programs. If these are not viable options for you or the type of debt you carry, consider refinancing your debt at a lower interest rate. Reducing your interest rate, even by a small percentage, can help you pay off your debt faster and start saving sooner.

You might also look into refinancing your mortgage. While a refinance can be beneficial if you’re able to significantly lower your interest rate, it’s important to note that there are various fees associated with refinancing that may prove prohibitive. First, talk to a lender to see if you qualify for a refinance. This will depend on various factors, including your debt-to-income ratio and credit scores. If you are able to secure a lower rate, crunch the numbers to make sure the savings outweigh the costs. Consider listening to Entering The Large Sums Of Money Mindset

[4]: Renegotiate your bills

Taking a look at your monthly bills – utilities, cable, phone, insurance, credit cards, etc. – can be one of the best ways to start saving. First, browse your current plans to determine whether you may be able to cut back. Are you using all of the features on your phone plan? Do you actually watch the cable TV you pay for? Are there other providers that may have lower rates? For home utilities, like gas and electric, you likely cannot choose your provider, but you can call and try to renegotiate your rates.

Alternatively, you can cut down on your usage to lower your bills, even if only slightly. Many utility companies offer free energy audits in which they inspect your home and point out opportunities to be more energy-efficient and save money in the process.

You’ll also want to look at all of your insurance policies, including car, homeowners, renters and life insurance. When your policies are up for renewal, shop around and see if you can get a better rate. You may also be able to bundle your policies, as some insurance companies will offer a discount if you have two or more policies with them.

For homeowners insurance, tell your agent about any improvements you’ve made. For auto insurance, make sure your plan aligns with how much you’re actually using the car because you may be able to lower your rates if you drive less. Many policies also include discounts for multiple cars and a safe driving record, or for teenage drivers who earn good grades.

If you have credit card debt for multiple accounts, you may be able to save on your monthly payments with a balance transfer. To do this, you will need to find a credit card with lower interest rates and then transfer your debts from your other accounts onto the new card. Start listening to Using Accurate Thought To Gain Riches

[5]: Be patient

Building up your savings when living paycheck to paycheck will take time and energy, but it can be done. You may find that there are few areas where you can cut back and it may take longer than you anticipated, but making even small, regular contributions to a savings account can be incredibly stress-relieving and motivating. Those deposits will add up over time until you eventually reach your savings goal. Remember to listen to Dollars Want You

[6]: Create ALL the Money You Want. Get Back to Us if You Want Earn and Learn from our Coaches Who Have Earned Over $240,000,000+

Think About This…

Here is a proven “Paycheck to Paycheck” solution. Where you can work a minimum of 10-15 hours a week to a schedule that fits your lifestyle. Eliminates your debt. Stop living “Paycheck to Paycheck.” It has low start up costs that get you going with products below wholesale pricing that you are buying already but not getting paid for, and has large ROI potential.

Another growing reality is the increasing number of baby boomers who are disenchanted with their current careers. They’re worn-out from years of the corporate grind and don’t feel the connection between their job and the people it impacts outside their office walls or company grounds.

They’re shifting their focus from accumulating a giant nest egg to a desire to be part of something bigger and better… to have a positive effect on others… and working in retirement. Facets of life that can be fulfilled with specific types of products and service available through some MLM or Direct selling opportunities.

They are not the only people. It takes the average American 13 – 45 years to save just one year’s worth of living expenses. That is a disaster if you want to achieve financial independence sooner, rather than later. The average American earns about $51,480 a year. Prayers for Divine Surplus

Conclusion

These are just a few more tips to look out for when considering a “Paycheck to Paycheck Solution”. Listen to this: The Richest Man in Babylon

We personally believe this is the best way forward if you are looking for a successful “Paycheck to Paycheck Solution”. Remember: You Were Born Rich This is for the many people who have a dream or desire to be financially independent and are willing to put in the hard work to do so. Decide To Live Richly

Wishing you prosperity and success. Remember You Were Born To Win!!

Let Them See You Shine

Michael Kissinger and Sydney Reitenbach

Phone: 650-515-7545

LinkedIn Profile: https://www.linkedin.com/in/michael-kissinger-a66b214/

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