Some Hacks To Saving Money While Living Paycheck To Paycheck

When you were quite young, you were probably taught about saving money. Your parents or grandparents even got a piggy bank for you. They’d make sure every time they gave you the cash you put it in savings. But, we must admit that growing up, life has its ups and downs, and you find saving becomes harder due to the expenses and responsibilities.

Sometimes, you find yourself living paycheck to paycheck because the income you get is not enough to do everything you wanted. However, the idea is, even as you live paycheck to paycheck, there are some lifestyle changes you can make to make sure you save.

Tips For Saving Money

 Why are you saving?

The first motivation to save money is to have a reason. Why are you saving money? Is it to take a vacation to Santorini or saving for retirement? You need to have a motivator as to why you are saving. It takes a lot of discipline to save, which is why you need your ‘why.’ Have a financial plan after college so you can make the right decisions when it comes to spending and saving money.

It could even be a down payment to your dream house. However, saving needs some sacrifices made which may not be easy. Always have the end goal in mind to help you get motivated to save.

Consider a separate savings account

Sometimes, you need to start anew. Opening a savings account specifically for your savings is a great start. Sometimes we only have one account where all the money comes in. You need to separate your savings so that you can keep track of them.


Sometimes, people living paycheck to paycheck may find themselves having more expenses than their income. As cliche as it sounds, budgeting is essential. Give yourself two months to monitor how your expenses look like and then you can draft a list of all your expenses. Have the necessities as a priority and keep others as secondary wants.

Budgeting helps you know what you need and what you don’t. It will help you cut down on the expenses and get to save.

If you have unnecessary subscriptions, cut them. You may be too busy even to watch some TV shows. If you have Netflix, VH1 or any other subscription and you don’t need it, it’s time to say goodbye.

Setting a short-term goal to get you started

Even as you have a long-term goal on what you want to do with your savings, you should start with a short-term one to help you get started and motivated. You can set a goal to save $100 in two weeks. Once you do, it’s easier for you to get motivated about saving for your dream house or some investment.

Another option would be to start tackling debt. If you have collections against you, try to counteract the negative remark but asking for a pay for delete. You can write a pay for delete letter to the debt collector to see if you can negotiate how to pay the debt. Here are examples of Sample’ Pay For Delete’ Letters (To Clean Up Your Credit Report) you can use.

Have a money-making mindset

Sometimes, the reason we never save is that we don’t have a money-making mindset. If you don’t have the mindset, you’ll not spare even a dime. Change how you think and start seeing all the positive possibilities that come with saving.

As you save, don’t let the money stay idle

When you only save, the money becomes idle in the bank. One option is going for an account that will earn you interest. However, these savings accounts will earn very little interest, but it’s better than nothing.

There’s no obstacle to how much you can grow the money. Consider looking for options to invest the money so that eventually money can work for you and avoid living paycheck to paycheck.

You could look into peer to peer lending, look into real estate as well or even forex trading. There are a million ways you can earn more money through your savings.

Automating your savings

The easiest way of saving is by automating your savings. You set a particular amount you’ll be saving weekly or monthly, and your bank or other service providers will automatically receive your savings. Some apps help you do that.

The idea is to ensure that even before you think of using money intended for saving, it’s automatically saved. The apps that are available to help you do that will still give you access to your money, but it may take a day or more to access your automated savings.

Saving should be a culture and should come naturally. Starting may be hard, but once you get into the habit, it will be a lifestyle. You’ll see all the amazing things you can do when you save and have a money mindset. Look for ways to also grow your savings as this is what makes billionaires.

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