How To Break The Paycheck-To-Paycheck Cycle

October 22, 2020 | Daniel Dewitt

 paycheck cycle stretch money

 

Living paycheck-to-paycheck is mentally draining and often leaves you feeling like you are working for nothing – without enough time to change your mind. If you are caught in the meal cycle of:

  • Steak ; wine
  • Hamburger ; soda
  • Bologna sandwich ; water

Then it is time to get creative. Stretch your dollar further and make it give you some breathing room to be proactive. Start reserving some funds for emergencies and those unexpected bills. Maybe even to take a vacation. It just takes a little discipline. Ready? Here's how.

Stretch Your Money With These Ideas

Create A Budget

Creating a budget allows you to see where your funds are going. Many people live paycheck-to-paycheck because they don't understand what they are spending their money on. Have you ever looked at your bank balance and wonder 'Where is it all going?' Or 'How does this happen?'. If so, creating a budget and tracking expenses is the perfect way to get you on point.

Tracking how you spend allows you to see where you can cut frivolous spending to save you more a month. You may be spending money on things that you don't realize. The biggest offender is usually subscriptions that you forgot about or the free trials have run out on.

Cancel Subscriptions You Don’t Use

Smartphones make it incredibly easy for us to be irresponsible with money. Signing up for those free trials equates to a thumbprint and a few seconds of curiosity. We play around with the new app for a while but then start losing interest and forget about it. This includes everything from Amazon prime to obscure apps like selfie enhancers.

Take a few minutes and log-in to your subscriptions on your phone. See what you are using and what you aren't. You can then cancel the subscriptions you don't use. Most subscriptions run anywhere from $9.99 to $64.99 per month. Doing away with them will free up some space on your line-item budget.

But while subscriptions may be the number one budget killer, there is another sneaky villain running a close second.

Watch Those In-App Purchases

We are all guilty of being so fully immersed in a casual game on our phone. We bite our lip in anticipation of reaching level 120. We are so close! What’s one more purchase of $5.99 to seal our destiny gonna hurt? The problem is those little purchases add up insanely fast.

A good option is to purchase iTunes or Google Play cards within your budget. That way you are aware of how much you are spending. Putting the pre-purchased cards on your phone sets a limit of spending and keeps you within your budgeted amounts so you don't unknowingly overspend.

Axe Binge Spending

Have you ever walked into a grocery store hungry? So hungry that even the rice cakes are appealing? Or, even more common, your child is in the habit of slipping those cookies into the cart without you noticing? It's those 'little' splurges that add up.

When you go shopping, don't let your stomach dictate what you purchase. If you walk in with a list of 5 things and come out with 15, odds are you are not keeping to your budget. If you shop once or twice a week, that adds up fast and you are overspending by nearly $200 per month.

 

 paycheck cycle spending

 

Get A Payday Loan To Help With Emergencies

Sometimes you find yourself in an emergency that threatens to keep you in the paycheck-to-paycheck cycle. When you are experiencing an emergency like that, that is when you can turn to fast payday loans.

A payday loan is a loan you receive when you are in between paychecks but need quick cash.

Advantages Of Fast Payday Loans

There are several advantages to getting a payday loan. Some of those benefits are:

  • You can qualify for anything up to $1,000 within 30 minutes of being approved.
  • We won’t turn you away due to a bad credit score.
  • Our process is quick and easy.
  • You don’t have to put anything up as collateral.

How Do I Spend The Money From My Payday Loan?

You can use your payday loan money for multiple situations. Its intended purpose is for sudden, unplanned emergencies or situations. These situations can be things like not having enough to cover your bills or rent, sudden home repairs that cannot wait, or car trouble that needs attention.

How Do I Get Florida Payday Loans?

Unlike other traditional loans, our process is quick and easy. We won’t make you wait days or even weeks to learn if you’ve been approved and for how much. By the end of the process you will know if you’ve been approved and how much you qualify for. It all starts with you filling out the online form found on our homepage. Once we receive it, we will give you a call to walk you through the rest. We will answer any questions and tell you what mandatory items you will need. Those items are:

  • Your driver’s license or state issued ID.
  • A blank check from an active checking account in your name.
  • Your most recent pay stub.

Once we get off the phone, you can make your way to a florida payday loans near you. Once we sit down face-to-face, we will go over your items and application. Then we will discuss if you’ve been approved and how much you qualify for. If you are approved and agree to the terms, you can sign the papers. You will be handed your cash and you can be on your way. That’s all there is to it!