A STEP-BY-STEP ACTION PLAN
HOW TO STOP LIVING
PAYCHECK TO PAYCHECK
LEARNING OBJECTIVES
• Recognize the importance of knowing your
income, debt and savings.
• Increase awareness of frivolous...
LEARNING OBJECTIVES
• Understand the necessity of paying off debt.
• Discover creative ways to earn extra money.
• Learn h...
FOLLOW THESE 8 STEPS TO STOP LIVING
PAYCHECK TO PAYCHECK FOREVER
1. Acknowledge your current financial state.
2. Know your...
STEP ONE: ACKNOWLEDGE YOUR
CURRENT FINANCIAL STATE
You Can Have A Better Financial Life Even With Your Current Income
Chan...
STEP TWO: KNOW YOUR INCOME AMOUNT AND
WHAT YOU’RE PAYING FOR EACH MONTH
Subtract your
total outgoing
dollars from
your inc...
“MANY PEOPLE ARE IN THE DARK WHEN IT
COMES TO MONEY, AND I’M GOING TO TURN ON
THE LIGHTS.”
SUZE ORMAN
STEP THREE:
CUT EXCESS SPENDING TODAY
Record all
expenses
for 7
days.
Discover
where your
frivolous
spending
is, then
stop...
STEP FOUR:
START SAVING MONEY THIS WEEK
•Each
day, place
your left-over
change in
the jar.
•If you didn’t
get change
that
...
STEP FIVE: BEGIN PAYING
OFF YOUR DEBT
A SECRET TO STOP LIVING PAYCHECK TO PAYCHECK IS TO
REDUCE YOUR DEBT SO YOU’LL HAVE C...
List your
debts and
decide
which
you’ll pay
off first.
Use half of your
savings account
money along
with the amount
you no...
“IT IS INCUMBENT UPON EACH OF US TO IMPROVE SPENDING
AND SAVINGS PRACTICES TO ENSURE OUR OWN INDIVIDUAL
FINANCIAL SECURITY...
STEP SIX: EARN EXTRA INCOME
HOWEVER YOU CAN
• Examine all your skills and abilities with an
open mind.
• You’ll be pleasan...
HOW TO EARN EXTRA CASH
Advertise your skills in
local newspapers.
Use talents/skills to help
the elderly for pay.
Connect ...
“EARLY TO BED AND EARLY TO RISE, MAKES
A MAN HEALTHY, WEALTHY AND WISE.”
BENJAMIN FRANKLIN
STEP SEVEN: USE HALF AND SAVE
THE OTHER HALF OF YOUR SAVINGS
APPLY HALF TOWARD THE DEBT YOU’RE PAYING OFF
HOW TO MANAGE SAVINGS:
• Apply half of your
total savings toward
the debt you’re
paying off, in
addition to the
payment yo...
CONTINUE SAVING
• Save enough for your 6 month emergency
fund first.
• Next, put aside $500 for a mini-crisis so if
someth...
INCREASE THE AMOUNT YOU SAVE
WHENEVER YOU CAN
When you get a raise:
•Boost your savings amount weekly by at least
50% of t...
DRAW UP A BUDGET AND STICK TO IT
Find a budget you like
Use realistic figures when drawing up
your budget
Review your budg...
"THE ART OF LIVING EASILY AS TO MONEY IS TO
PITCH YOUR SCALE OF LIVING ONE DEGREE
BELOW YOUR MEANS."
SIR HENRY TAYLOR
SUMMARY
WILL YOU STOP LIVING PAYCHECK TO PAYCHECK?
8 SIMPLE STEPS
Acknowledge your financial state
Know incoming and outgoing dollars
Cut excess spending
Start saving mo...
8 SIMPLE STEPS
Focus on paying off debts one by one
Earn extra income however you can
Use half your savings to pay debt...
“AS SURE AS THE SPRING WILL FOLLOW THE
WINTER, PROSPERITY AND ECONOMIC GROWTH
WILL FOLLOW RECESSION.”
BO BENNETT
We hope you enjoyed your Special Report!
Curtis Roese is an experienced professional with extensive experience in
personal...
This Free Course Includes:
 A Complete 80+ Page, 16-Module Home Study Course in PDF format
 Companion Worksheets and Che...
Sign Up ~ FREE Personal Finance Newsletter
“Finally… A High-Quality, Content Rich, No BS Newsletter
Written Specifically F...
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How To Stop Living Paycheck To Paycheck

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Most people, as Henry David Thoreau said, “Lead lives of quiet desperation.” The fact is many folks earning what looks like a comfortable income still live paycheck to paycheck. They’re one setback away from financial disaster – and they know it. Does this describe you?

If so, this e-book may be just what you’re looking for. It lays out a clear plan that puts all the financial information together into a step-by-step path that you can follow to turn your financial life around.

This e-book helps you acknowledge your current financial state, encourages you to know figures such as your total income and what you pay out monthly, helps you stop unnecessary spending today, and shows you a savings plan you can start now.

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How To Stop Living Paycheck To Paycheck

  1. 1. A STEP-BY-STEP ACTION PLAN HOW TO STOP LIVING PAYCHECK TO PAYCHECK
  2. 2. LEARNING OBJECTIVES • Recognize the importance of knowing your income, debt and savings. • Increase awareness of frivolous spending and how to decrease/eliminate such spending. • Find sources for money you can start saving now.
  3. 3. LEARNING OBJECTIVES • Understand the necessity of paying off debt. • Discover creative ways to earn extra money. • Learn how to use part of your savings to erase debt. • See how following a budget can benefit you.
  4. 4. FOLLOW THESE 8 STEPS TO STOP LIVING PAYCHECK TO PAYCHECK FOREVER 1. Acknowledge your current financial state. 2. Know your monthly income and debt totals. 3. Cut excess spending today. 4. Start saving money this week. 5. Begin paying off your debt. 6. Earn extra income however you can. 7. Use half of your savings to pay off debt. 8. Have a budget and stick to it.
  5. 5. STEP ONE: ACKNOWLEDGE YOUR CURRENT FINANCIAL STATE You Can Have A Better Financial Life Even With Your Current Income Change how you handle your dollars now to alter your financial existence. Are You Living Paycheck To Paycheck? What would happen if, the next time you expected a paycheck, you didn’t get it? What Is Your Total Debt? How Much Money Do You Have Right Now? Total all your accounts. Savings, stocks, CDs, and cash.
  6. 6. STEP TWO: KNOW YOUR INCOME AMOUNT AND WHAT YOU’RE PAYING FOR EACH MONTH Subtract your total outgoing dollars from your incoming dollars. If the result is a negative number, you’re spending more than you make! Now— Subtract! Now, list everything you pay in a month — household bills, gas/car bills, haircuts, ent ertainment, mea ls out, and medical/dental. Outgoing dollars List all the money that comes into your household in a month. Incoming dollars
  7. 7. “MANY PEOPLE ARE IN THE DARK WHEN IT COMES TO MONEY, AND I’M GOING TO TURN ON THE LIGHTS.” SUZE ORMAN
  8. 8. STEP THREE: CUT EXCESS SPENDING TODAY Record all expenses for 7 days. Discover where your frivolous spending is, then stop it. Which expenses can you cut from monthly outgoing dollars? Get rid of 1 monthly expense and reduce two others. Keep in your wallet the credit card with lowest interest.
  9. 9. STEP FOUR: START SAVING MONEY THIS WEEK •Each day, place your left-over change in the jar. •If you didn’t get change that day, place a $1 bill in the jar. Save change in a jar or piggy bank •Make your deposit toward month’s end. •No matter how much you have, put it in the bank every month. Deposit the change monthly into your bank or credit union •Save the $5 from grocery money or what you spend eating out. •You’re establishing the habit of paying yourself, no matter what. •Place this $5 in the bank, along with your change every month. Pick a weekday to pay yourself $5.
  10. 10. STEP FIVE: BEGIN PAYING OFF YOUR DEBT A SECRET TO STOP LIVING PAYCHECK TO PAYCHECK IS TO REDUCE YOUR DEBT SO YOU’LL HAVE CASH IF YOU NEED IT
  11. 11. List your debts and decide which you’ll pay off first. Use half of your savings account money along with the amount you normally pay toward the debt to apply toward the targeted debt. This process will go quicker than you think! Although this step will be tough, it’s an important aspect of liberating yourself. GET DOWN TO BUSINESS AND PAY OFF YOUR DEBT.
  12. 12. “IT IS INCUMBENT UPON EACH OF US TO IMPROVE SPENDING AND SAVINGS PRACTICES TO ENSURE OUR OWN INDIVIDUAL FINANCIAL SECURITY AND PRESERVE THE COLLECTIVE ECONOMIC WELL-BEING OF OUR GREAT SOCIETY.” RON LEWIS
  13. 13. STEP SIX: EARN EXTRA INCOME HOWEVER YOU CAN • Examine all your skills and abilities with an open mind. • You’ll be pleasantly surprised to learn that people will pay you to do those services for them. • Read on to follow strategies that will lead you to financial freedom.
  14. 14. HOW TO EARN EXTRA CASH Advertise your skills in local newspapers. Use talents/skills to help the elderly for pay. Connect with your network to seek work.
  15. 15. “EARLY TO BED AND EARLY TO RISE, MAKES A MAN HEALTHY, WEALTHY AND WISE.” BENJAMIN FRANKLIN
  16. 16. STEP SEVEN: USE HALF AND SAVE THE OTHER HALF OF YOUR SAVINGS APPLY HALF TOWARD THE DEBT YOU’RE PAYING OFF
  17. 17. HOW TO MANAGE SAVINGS: • Apply half of your total savings toward the debt you’re paying off, in addition to the payment you’d normally make. • Leave the other half of your savings in the bank to accrue. You’ll be putting this money aside as an emergency fund.
  18. 18. CONTINUE SAVING • Save enough for your 6 month emergency fund first. • Next, put aside $500 for a mini-crisis so if something unforeseen occurs, you’ll be ready. • Ensure you replace any money you use for a mini-crisis by continuing to bank your change. • Later, you can start a New Car Fund or a Vacation Fund if you like.
  19. 19. INCREASE THE AMOUNT YOU SAVE WHENEVER YOU CAN When you get a raise: •Boost your savings amount weekly by at least 50% of the amount of the raise. When you pay a bill off: •Continue to pay your savings account at least half of the payment. •Pay your savings account the whole payment if you have other debts to pay off so the money can be applied toward your remaining debt.
  20. 20. DRAW UP A BUDGET AND STICK TO IT Find a budget you like Use realistic figures when drawing up your budget Review your budget and expenditures often
  21. 21. "THE ART OF LIVING EASILY AS TO MONEY IS TO PITCH YOUR SCALE OF LIVING ONE DEGREE BELOW YOUR MEANS." SIR HENRY TAYLOR
  22. 22. SUMMARY WILL YOU STOP LIVING PAYCHECK TO PAYCHECK?
  23. 23. 8 SIMPLE STEPS Acknowledge your financial state Know incoming and outgoing dollars Cut excess spending Start saving money now
  24. 24. 8 SIMPLE STEPS Focus on paying off debts one by one Earn extra income however you can Use half your savings to pay debt and save the other half Design a budget and stick to it
  25. 25. “AS SURE AS THE SPRING WILL FOLLOW THE WINTER, PROSPERITY AND ECONOMIC GROWTH WILL FOLLOW RECESSION.” BO BENNETT
  26. 26. We hope you enjoyed your Special Report! Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog. Common Cents Wisdom is a website with hundreds of informative articles, special reports, resources to assist you with all of your financial concerns and a free monthly newsletter. Sign up to receive your free eBook "Common Cents" and get started today on the road to financial freedom!
  27. 27. This Free Course Includes:  A Complete 80+ Page, 16-Module Home Study Course in PDF format  Companion Worksheets and Cheat Sheets  Budget Helpers, Worksheets, and Trackers  Bonus Audio Interviews with Financial Experts  My Secret Resource List of Helpful Money Sites, Tools, and Calculators  Bonus #1: Boosting Your Value Without a Formal Education  Bonus #2: Building a Wealth and Prosperity Mindset  Bonus #3: 25 Ways To Protect Your Identity Don’t Delay! Get Your Free Course Now!
  28. 28. Sign Up ~ FREE Personal Finance Newsletter “Finally… A High-Quality, Content Rich, No BS Newsletter Written Specifically For Those Interested In Personal Finance” What you can expect to receive EVERY Month by signing up:  Special Report – 10 to 20 page in-depth report on Personal Finance topics important to you!  Articles to keep you informed on a variety of topics relevant to your financial freedom.  Action Guides, Worksheets, Resources & Buyer Guides!  Monthly Financial Calendar to keep you organized and current with managing your personal finances.  Periodic reviews of Products and Services – Real Financial Solutions ~ Real Fast! http://www.commoncentswisdom.com/newsletter/

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