Happy 2020 Tr3 Fam! First post of the new year so why not talk about a major issue plaguing our community, I'm talking about that dreaded paycheck to paycheck lifestyle. Did you know that roughly 76-78% of Americans live paycheck to paycheck? That's a lot of people, we're talking nearly every person in the US is 1 paycheck away from being homeless. Imagine working 40-50 hours a week just to live check to check, that's frustrating just thinking about it. So what is the solution? Let's talk about it.
First solution is changing your mindset and how you view money, if you look at money as a means for survival that's not your fault. That's how you were raised probably, and you've inherited a generational viewpoint of money. I'm sure that viewpoint is "get a job, so you can make money to pay bills." Once you shift your mindset and look at money as a tool that's when things will change. Once I shifted my mindset about money it was like I reached a new level like in a video game. How do you shift your mindset? Read!! You have to feed your brain, when I read Rich Dad Poor Dad that changed how I viewed money tremendously. It's so much information at the palm of your hands, so in 2020 there's no excuse for you to still be living check to check.
Another solution is spending habits, I was talking with my mom about money and she said something that resonated with me. Just because you make xyz thousand a month doesn't mean you have to spend that much every month. Get your spending in check and start making better decisions. Don't go and finance a car that's going to cost you $500-$700 a month, then turn around and pay $150 for cable. That's close to a thousand dollars right there (every month!) and that's just for your vehicle and cable, I didn't even factor in rent, phone, and everything else. So check your spending habits, and know where you're money is going.
I wanted to have this conversation because I don't want you all to suffer with this check to check lifestyle. I lived it as well and I know how frustrating it can be. A lot of times we live check to check as a result of the decisions we've made, that's why I said let's make better decisions. Bills never stop coming, I know and I feel you. But you can control the number of bills you have each month. I hope this helps you ditch the check to check lifestyle in 2020, love.