How to Stop Living Paycheck to Paycheck
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Living paycheck to paycheck is probably the most common reason that prevents people from living a life that they love. This financial barrier can feel crippling and I understand how challenging it can be to pull yourself out of what can seem an endless cycle. The answer is creating financial independence, which I assure you, can be done wherever you’re starting from!
So how can you break through the barrier and start to live that love you love? In today’s article, I’m going to offer some tips that will get you on the road to Real Wealth and financial freedom!
Create Space
Like everything, money is energy and if you’re operating in financial scarcity, there’s an emotional component here that will likely be showing up in many areas of your life and your environment. So, this is about creating simplicity. I encourage you to look around your home and start to clear out any junk or clutter. Then, apply the same principle to other parts of your life. This could be choosing to simplify your schedule or stopping spending time around people who live from a place of lack or drain your energy. Set the boundaries for space!
The key is to set the intention for what you want to create and if you’re living from paycheck to paycheck, you want to release space to make way for abundance, clarity and a safe foundation from which to build upon. After all, you can’t create new if you’re stuck in your past! Release the things in your environment that are symbolic of your past. Practices such as breathwork and yoga can also be fantastic ways to shift and clear those old emotions that keep you in your suffering patterns and perpetuate the financial loop.
Start to Overcome Your Financial Fears
Financial independence can only be cultivated when you have a healthy relationship with money. When there’s a sense of ‘not enough’ and being chained to a paycheck, this is often due to a subconscious fear of money, which of course is showing up in your reality.
One of my biggest money saving tips that brings results quickly, is to use cash to begin to create that relationship with money. Let me tell you, you’ll be surprised at how the items or services you choose to swipe your credit card for, you would think twice about spending the physical cash on! When we swipe or buy on credit, it just doesn’t land in our awareness the same way that cash does.
What I would therefore like you to do, is use cash for your variable weekly expenses such as groceries, gas, travel and those day-to-day purchases. Take out the cash at the beginning of each week and once it’s gone, it’s gone. You’ll be shocked at how your awareness and choices change based on this one simple tweak!
By doing this, you’ll be able to look at your spending choices from a new perspective and identify which purchases are aligned to what you want and which can perhaps be left aside to free up extra that you can put towards one of your new financial intentions!
Insulate Yourself Financially
What do I mean by financial insulation? This is all about keeping your nervous system in check and creating a safe financial container. Living paycheck to paycheck means that you are relying on your employer, the banks and likely debt instruments, so the goal is to begin to become your own bank to take you from a place of financial fear to empowerment.
What I’d like you to start doing is set up new accounts that you can deposit an amount of money into each month that will build your emergency funds and short-term, mid-term and long-term expenses. This means that gradually, whatever happens in the economy or when unexpected personal situations arise such as a costly home repair, a job loss or medical issue, you’re protecting yourself.
What’s very important here is that you don’t fret about the number going into those accounts. If it starts super small, that’s still great! This is about setting that intention of financial independence and aligning your actions and flow of your money accordingly. Once you do, you might be surprised at how unexpected money flows in in ways you could never have anticipated! Remember, it’s about operating on that energetic level of abundance!
To offer some perspective, I’m always fascinated how when people have enough money to retire, the conversations between them and their employer shifts because the employer isn’t needed so much. The safe financial container creates space for alignment and for self-worth to be nurtured and flourish.
Start to build that sense of empowerment for yourself right now!
Find Ways to Release and Create Funds
Something I ask my clients to do is have quarterly check-ins with their money. This can be done alone or with their partner, which can also really help to iron out any financial kinks in the relationship.
When it comes to money saving tips, you firstly need to create awareness of exactly what’s coming in and going out. A quarterly review of your financial reality in the present moment including your debts and cash flows means you can identify where tweaks can be made and find ways to free up extra.
Examples could be switching off those automated subscriptions that you rarely use for streaming services or memberships. Often at anywhere around $30 a month, that’s a significant saving to put towards your financial freedom intention! By implementing this consistent financial review, you’ll also likely discover spending choices that aren’t aligned with your future goals and so you can choose to also release those.
Remember, these small changes compound to make a big difference!
Time to Ask for a Raise or Look for the Dream Job?
Do you feel resentful of your paycheck because you know you’re capable and worthy of more, or do you want to be doing something completely different and more aligned? Now is the time to step into your power and ask for what you want! Is there a conversation you could have with your employer where you present your case for a promotion and/or pay rise?
Or, could you start looking for the dream job and taking aligned action to bring that into creation? Once you’re taking care of the financial piece as we’ve spoken about above, this is when you feel safe to start truly living in the present moment and listening to your heart.
Living from paycheck to paycheck is something that you absolutely can be free of! By implementing the practices and money saving tips I’ve shared today, you can start living that life that you love and creating Real Wealth for yourself right now!
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