Saving money for retirement or buying a house can seem like a pipe dream for people living from one paycheck to the next, just trying to stay caught up on their bills.
The “paycheck-to-paycheck cycle” means every paycheck you receive barely covers all of your regular financial obligations, like student loan repayments, car loans, rent and groceries. Living this way puts you at greater financial risk, as a job loss or an unanticipated expense like a major car repair can put you in a real tough spot.
If you’re living paycheck-to-paycheck, you’re basically living without a financial “safety net.” In addition, it’s tough to really enjoy yourself if you’re constantly worrying about where every dollar goes. Here are three ways to get started on the right track. Continue reading