You are not alone when you are eating ramen on the last day of the month or taking the bus because you’ve got no money for gas. Many people find themselves in this position. But, take control of your finances and you can make your paycheck last from one payday to the next.
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1. Make a Budget
This should the very first thing you do when considering how to make your paycheck last the month. It may sound obvious, but you will be surprised by just how many people do not budget. By working out just how much money you have per day for the month, you can decide whether you need to make some sacrifices, and you will also know your spending limits until the next time pay day comes around.
2. Don’t Shop until the End of the Month
Though it can be tempting to head straight for the mall when you get paid, a good idea is to wait until the end of the month before thinking about treating yourself. This way, you will have paid for all of your monthly essentials like food and bills, and it will not be long until you get your next paycheck. Shopping at the end of the month means that you know exactly how much you will be able to spend without giving yourself problems.
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3. Adjust Your Transport Plans
If you are particularly struggling one month, then look at how you could save by changing how you get to work. Instead of having to fill up your car with gas, buy a bus ticket if you can and you will be able to save a considerable amount. Even better, if you live close by, how about walking or cycling to work instead? You’ll save money and get some exercise!
4. Consider a Flatmate
If you live alone but have a spare bedroom, it might be worth advertising for a roommate. Having a roommate equals instant saving, as you will be splitting the cost of all of the utility bills that you get each month. Having a flatmate is one of the best ways to literally half some of the regular payments that you have to make.
5. Don’t Be so Card Dependent
Rather than paying for everything you buy on your card, try taking a lump sum of physical cash out at the beginning of each month. Actually seeing your money start to disappear from your purse after every purchase is a much better reminder to be frugal than simply pushing a piece of plastic in a machine. Be strict with yourself, after your stash of real money has run out, you know not to grab another until your next paycheck.
6. Utilize Your Closet!
You know when you go out shopping because you ‘have no clothes’? That’s simply not true! Take some time to go through your closet and start to recycle outfits that you had long forgotten about. You really don’t need to buy that new pair of jeans or new blouse; you have some perfectly fine pieces already waiting for you at home.
7. Get Creative
If you’re still a little short and your next paycheck is not in the next few days why not get a little creative and see if there are any items around the house that you get make a few extra dollars from on eBay or Craigslist. If you’ve got boxes and boxes of unwanted items, why not have garage sale and kill two birds with one stone, freeing up some space in your home and making some extra cash!
We never seem to earn enough money but a person in control of their finances can also find a way to save money – no matter how little the amount. These simple tips should mean you won’t need to pull the couch apart looking for loose change at the end of each month and you too could be saving a little each month.
Do you struggle to make your paycheck last the whole month?
Comments
Bobbie: If you decide to get a roommate be very careful or you may have more than money issues to contend with.
RhondaJames: Some good tips here. Thank you very much.
shanianawaz: I have got so much stuff I could sell. Why do I not just do it?
Nancy: I don't think anything can make my paycheck last the whole month :(
Wendy: Yes sell your unwanted items or donate them. Have you seen the movie Sex and the city movie? Well, their is a scene where carry's closet needs to clean out the closet. Here's what she did: get three boxes. Label each box. One, toss. One, keep, one, sell. Add a fourth box. One, donate. And decide which goes and stays. Your space will be clutter free and make some cash. Win-win😉😉😉
Splashhhh: @wendy , thats a great idea actualy thanx.
Cierra: Don't forget Poshmark! I've sold alot of my unwanted new/gently used items.
GJP: #2 is very clever. I'm sure I'm one of many who shops as soon as they get paid.
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