According to a CNBC report, “78% of full-time employees said they live paycheck to paycheck.” People in this position may not meet the conventional definition of being poor but are in a precarious position financially. How can you manage to build enough savings to sustain you comfortable if you live paycheck-to-paycheck?

Learn The Two Most Powerful Letters In The Alphabet

N-O!!! Learn to tell yourself those words. Most who live paycheck-to-paycheck aren’t destitute. They live a middle-class lifestyle and they work “good jobs.” Learn to make more frugal spending decisions and to tell yourself no. Separate wants from needs. Eat inĀ instead of eating out.

Chop Your Greatest Expense

Housing costs are ridiculously expensive nationwide, so find a home that fits your income. Many lenders consider a house payment (or rent) that is more than 30% of an individual’s income to be too expensive. If your housing costs are greater than 30% of your income, consider moving. Food, too, becomes a great expense when amassed over time.

Become A Chef

People eat three meals a day, and that does not include snacks. If you purchase the majority of those meals from a restaurant, you will waste hundreds of dollars each month. Many people are able to break the cycle of living paycheck-to-paycheck simply by bringing lunch to work.

Identify Your Motivation

While some people don’t make enough money, the paycheck-to-paycheck cycle is a breakable one for many. It’s a goal that can be reached. Finding a reason for your determination to reach the goal of saving gives you greater motivation when reaching that goal requires self-denial.

Budget Your Way Out Of The Paycheck-To-Paycheck Lifestyle

Some people live paycheck-to-paycheck, but they don’t have to. Perhaps, your spending habits don’t align with your income. It’s easier to see if you’re living beyond your means if you build a budget. This will force you to determine what costs can be reduced.