1. Why You Should Be Living Paycheck To Paycheck
With the increasing prices of everything, the cost of living has gone up pretty high due to which people have to life their life in a very compromising manner. Many people these days pay check that earlier use to mean that spending whatever they earn i.e. spending 90 % of the income. But these days living pay check to pay check means spending 20 to 30 % of the income and saving almost 70 % to 80% of the income.
Due to increasing cost of living people have adjusted their life in such a manner to decrease their expenditure on luxury and have started pushing the majority in the savings and investment. There are lot of people who compromised on the luxuries and lived very economically in order to save majority of their income and then they used their savings to open a business or a venture and now they are earning enough high and living a very standard life.

2. Trend
According to 2013 Bank rate study approximately 75 % of the people residing in USA have adopted the lifestyle of living pay check to pay check.
One of the shocking observations regarding the lifestyle of people has been that rich people have shifted to saving oriented lifestyle more than average income people. The top 2 % of the wealthy people have a more conservative lifestyle than the rest of them.
Advantages
Security: Everybody wants to be safe and secure in life in order to live a relaxed life. As we grow our security needs increases because our responsibility increases. In order to live secured life, it is very essential to have a good bank balance as we never know when any insecurity arises. If a person lives a life in such a manner that he spends almost all the amount and keep nothing as savings, he will always leave an unsecured life as he does not have a backing. Where a person who lives paycheck with a paycheck will have a good amount and will remain secure.

3. Investment Option: If a person spends majority of his income and keeps nothing in store as savings or investment, he is not only exhausting his current income but also missing out on future returns, which he may get if he invests the money properly in real estate, or banks or investment schemes. He will also miss out on the opportunity to invest the money in some business in the future and will be left with no source of income after retirement.
Uncertainties:We never know when any contingency or emergency come in our way anytime in our life. A person can face any issues during his lifestyle so he should have enough resources to deal with the contingencies. People who spend all their income and are left with no resources to face the emergencies, and it becomes difficult for them to meet those times. Whereas people who were very frugal and saved oriented lifestyle had enough resources to face the circumstances and handled them properly.

4. Required Switch
In order to live a decent lifestyle in the future, it is crucial to have sufficient resources and paycheck for future that can only be possible through a change in your current lifestyle. In order to switch the lifestyle start setting realistic goals of saving some specific amount and once that amount is a clear list out all your expenditures and see where the cut down or compromise is possible. Various people started cutting down their expenses gradually in order to achieve the exact amount. Different areas where expenditure can be cut down is expenditure on luxuries like gold, expensive clothes, expensive articles. Further people can cut down on their frequent restaurant visits and start eating more in home.

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