How To Stay on Top of Your Finances while living Payday to Payday

Anthony Williams By Anthony Williams 6 Min Read
How do you live payday to payday?

Nowadays, a lot of people are living payday to payday and barely trying to survive financially.

How do you stay on top of your finances while on a low income? How do you live modestly and still be able to improve your savings?

Millions of people are struggling to stay on top of their personal finances because of the state of the economy and the fact that so many of us are living from paycheque to paycheque.

However, you should know that circumstances vary from one individual to another. There are so many reasons why people struggle financially.

It could be because of the lack of basic knowledge of financial management or the fact that some people are just reckless spenders.

How to survive on Payday to Payday

The fact that so many people are living on payday to payday is not an overstatement. In fact, it’s the reality of today’s state of the economy in most countries.

However, you can still be able to survive and even save money while living payday to payday.

If you are living from payday to payday, you need to know that you are not alone. The fact is that there are millions of people living hand to mouth in the current economic climate.

How to survive while living Payday to Payday
Learn how to survive while living Payday to Payday

Without meaning to disparage anyone or comment on individual cases, many people are suffering now because when the times were good they were not making any provision for a rainy day.


So, if you are struggling to keep up financially, below are some of the tips for you to stay on top of your finances while living payday to payday.

#1]]. Budget and prioritize your spending

Budgeting is arguably the most crucial step to take if you really want to avoid spending money unnecessarily. For students who are into part-time employment, there are clever ways to set student budgets and make your pocket money last longer.

budget for Payday to Payday

As an individual living on payday to payday, setting yourself a realistic budget will help you spend less and save money. Setting a realistic budget means you will be able to cut costs in several areas and still be able to get by with ease. All you have to do is to calculate all your income and then plan your expenditure.

Tabulate your expenditure and put them into a category such as “essentials and non-essentials”. This will enable you to easily prioritize and track your spending. Your surplus cash can then go into your savings.

#2]]. Be more financially savvy

Money management skill is very important, especially, now that so many people struggling to survive. Be rest assure that you’ll never get on top of your finances if you constantly spend your income.

Plan your expenditures for Payday to Payday

This is why you need to have at least basic financial education if you are really serious about improving your savings. Being more financially savvy will help you refrain from splashing out on payday. Also, it means you’ll be able to start saving the money that you make instead. Thankfully, there are so many online tools and financial apps out there that can help you become a smarter money manager.

Download a financial app on your smartphone either from Google play store or iOS app store, set your account up, and start saving. You can easily automate your savings by setting up automatic transfers.

This will see the money that you earn go into your savings account each month without you even noticing it. The idea is that when you don’t see it, you can’t spend it or miss it when it’s gone!

#3]]. Understand your income

Understanding your salary or income is very important if you really want to stay on top of your finances. You need to know exactly how much you make either weekly or monthly.

understand your income Payday to Payday


This is the best way to prioritize your spending. Once you have a perfect understanding of this, you will be able to manage your finance and easily plan ahead.

Having already set your budget, you’ll have a better understanding of what you can actually afford to spend. The idea is to ensure your outgoings do not outweigh your income.

If you’re serious about staying on top of your finances understanding your income will help you curb your spending.

Also, you need to understand why it’s important to have a healthy respect for money and be very careful not to waste it. So, taking note of these tips could actually help you to be in control of your cash.




How To Stay on Top of Your Finances while living Payday to Payday
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Tony is a blogger, content creator, SEO marketer, and internet entrepreneur. He writes articles on various topics. Follow him on Twitter.
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