8 Mar 2023

The top FIVE ways to stop living paycheck to paycheck

Are you tired of living paycheck to paycheck? Are you ready to break free from the cycle and achieve financial stability? You're not alone. Many people struggle with this issue, but there are ways to stop living paycheck to paycheck and start building a better financial future. This week The Humble Penny joined the Gospel Breakfast Show to talk about how to get started and touched on why we get in this predicament in the first place: "It's because of theinabilityto manage cashflow. The bible tells us in Luke 16 that whoever can be trusted with small things can also be trusted with big things".With that in mind, here are their ways to break the cycle and using what little finances you may have now: 1. 'Broke Free' Number: The first step is to determine how much savings you need to have from living paycheck to paycheck to having a bit of financial stability. This is your "Broke Free Number." Once you have this number, you can start working towards it by creating a budget and finding ways to save money. 2. Freelancing: If you have existing skills, consider using them to earn more money on the side. Freelancing can be a great way to make extra cash and build your portfolio. Whether it's writing, graphic design, or programming, there are many opportunities out there for freelancers.

Luke 16:10 "Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much."

3. Digital Skills: Digital skills are the key to independence and freedom. They give us the tools we need to work from anywhere in the world and earn a good income. Take advantage of free online courses or invest in paid ones that teach skills like coding, web design, or digital marketing. 4. Study Others: Find other people who have achieved financial stability and ask them questions. Learn from their experiences and find out what worked for them. You may be surprised at how much you can learn from others who have been in your shoes. 5. Take Radical Action: Sometimes, it takes radical action to break free from the cycle of living paycheck to paycheck. Use what you have in your hands already - can you move in with others or work another job whilst saving and earning more money? Think outside the box and be willing to take risks. Listen here: [audio mp3="https://premiergospel.org.uk/wp-content/uploads/2023/03/PG-Feature-GB-Money-Matters-Mar-7th-2023-How-To-Stop-Living-Pay-Check-To-Pay-Check.mp3"][/audio] Breaking free from living paycheck to paycheck takes time and effort, but Ken and Mary say it's worth it in the end. By setting goals, finding ways to earn more money, investing in digital skills, learning from others, and taking radical action, you can start building a better financial future today.
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