The document outlines a guide to financial stability, advising individuals on managing their finances to break free from living paycheck to paycheck. It details eight essential steps, including acknowledging one's financial status, cutting unnecessary expenses, saving money, paying off debts, earning extra income, and creating a realistic budget. The aim is to promote awareness of spending habits and encourage the establishment of savings and financial security.

1. PROSPERITY FROM
PAYCHECK TO PAYCHECK:
MAKE THE MOST OF YOUR
MONEY EACH MONTH

2. MASTERING THE BASICS
• Recognize the importance of knowing your income, debt
and savings.
• Increase awareness of thoughtless / frivolous spending
and how to decrease and eliminate such spending.
• See how following a budget can benefit you.

3. MASTERING YOUR MONEY
• Understand the necessity of paying off debt.
• Learn how to use part of your savings to erase debt.
• Stay out of debt.
• Start to invest in your future.

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 down your debt.
6. Earn extra income to pay down debt/save.
7. Create a budget you can live with.
8. Start an emergency fund & savings account.

5. STEP ONE: ACKNOWLEDGE YOUR
CURRENT FINANCIAL STATE
You Can Have A Better Financial Life Even With Your Current Salary
Change how you handle your cash now to transform your financial future.
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/401k, CDs, and cash.

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!
Don’t enrich the
credit card
companies. Start
laying a foundation
for a better future.
Now—
Subtract!
Now, list
everything you
pay in a month
— household bills,
gas/car bills,
haircuts,
entertainment,
meals out, and
medical/dental.
Outgoing
dollars
List all the
money that
comes into
your
household in a
month.
Incoming
dollars

7. “MANY PEOPLE ARE IN THE DARK WHEN IT
COMES TO MONEY, AND I’M GOING TO TURN ON
THE LIGHTS.”
SUZE ORMAN

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
only the
credit card
with lowest
interest.

9. STEP FOUR:
START SAVING MONEY RIGHT NOW
• 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.
Avoid the
temptation
to dip into
the jar or
savings
account.

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. GET ORGANIZED, AND GET SERIOUS
ABOUT PAYING OFF YOUR DEBT
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 faster
than you
think!
• Although this step will be tough,
and take some time, it’s an
important aspect of liberating
yourself from the cycle of debt and
securing a better financial future.

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. STEP SIX: EARN EXTRA INCOME ANY
(HONEST) WAY 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.
• Save part of what you earn and use the rest to
pay down debt.

14. HOW TO EARN EXTRA CASH
Advertise your skills in
local newspapers or on
Fiverr and freelance sites.
Use talents/skills to help
the elderly for pay.
Connect with your network
to see if anyone needs
your help.

15. “EARLY TO BED AND EARLY TO RISE, MAKES
A MAN HEALTHY, WEALTHY AND WISE.”
BENJAMIN FRANKLIN

16. STEP 7: 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

17. DIFFERENT BUDGETS TO TRY
• The line by line budget-write down all your income and
expenses. Then see what you can cut back on.
• The bucket budget-put all your money into 3 buckets,
such as rent and utilities, food and other important items,
and flexible spending/saving. Divide your paycheck into
3. Whatever is left over in the 3 buckets goes to savings.

18. STEP EIGHT: USE HALF AND SAVE
THE OTHER HALF OF YOUR SAVINGS
APPLY HALF TOWARD THE DEBT YOU’RE PAYING
OFF

19. 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.
• Hint: Making more than
1 monthly payment will
boost your credit score.
• Leave the other half
of your savings in the
bank to accrue. You’ll
be putting this money
aside as an emergency
fund.
• Hint: Try to find a credit
union that pays
interest. It will not let
you withdraw the
money easily so you
will avoid temptation
and your savings will
keep growing.

20. 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. YOU are in control of
your money and your financial future.

21. 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 off a bill:
• 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.

22. "THE ART OF LIVING EASILY AS TO MONEY IS TO
PITCH YOUR SCALE OF LIVING ONE DEGREE
BELOW YOUR MEANS."
SIR HENRY TAYLOR

23. SUMMARY
HAVE YOU DECIDED TO STOP
LIVING PAYCHECK TO PAYCHECK?

24. 8 SIMPLE STEPS
Acknowledge your financial state
Know incoming and outgoing dollars
Cut excess spending
Start saving money now

25. 8 SIMPLE STEPS
Focus on paying off debts one by one
Earn extra income however you can
Design a budget and stick to it
Use half your savings to pay debt and save the
other half

26. “AS SURE AS THE SPRING WILL FOLLOW THE
WINTER, PROSPERITY AND ECONOMIC GROWTH
WILL FOLLOW RECESSION.”
BO BENNETT

27. TO YOUR SUCCESS!
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