Tired of living paycheque to paycheque?

Tired of living paycheque to paycheque?

An average of 78% of North Americans live paycheque to paycheque. That means 3 in every 4 people are just barely getting by.

Are you one of them? Are you tired of it? Here are some tips to help you break free of the paycheque to paycheque cycle.

Most people living paycheque to paycheque are doing so because they are in a cycle of spending more than they make, all the time. So our tips will help you break that cycle and be free of living paycheque to paycheque.


  1. Increase you income. – Take more hours at work, or get a second job. Find small ways to bring in extra income so your budget has more room for saving and freedom from not having enough money to pay all your debts/expenses each month.
  2. Make sure you have an emergency fund. – Having $1000 set aside in a savings account will give you a sense of peace that is out of this world. If you want to leave the paycheque to paycheque life behind, start by having a $1000 emergency fund, and then eventually 3-6 months budget as your emergency fund.
  3. Make a budget & follow it!– Track your income. Track your expenses. It is as simple as that. You need to know what money you have coming in and what money you have going out. Only then will you be able to work towards being free of the paycheque to paycheque lifestyle.
  4. Save for the big stuff. – Is your T.V. old? Does your washer or dryer make a weird noise when you use it? Would you like a dishwasher instead of doing the dishes by hand every day? SAVE money each money in a fund/envelope for the big stuff. Putting these items on credit cards and paying them off over time is going to cost you way to much. So simply save money each month for your big purchases and you will have it when you need it for those big purchases. Paying cash instead of credit will be a great help for you getting out of the paycheque to paycheque rut that so many people are in.

Hopefully these 4 tips will help you on your way to saving and growing financially so that you can move to being part of the 25% of people who do not live paycheque to paycheque.


Disclaimer: This article provides information only and is not intended to confer financial advice or opinion. If you have any further questions please consult a Financial Planner. Please note as well that many of the statements herein are general principles which may vary on a case by case basis.