Stop Living Paycheck to Paycheck with these 3 Tips

Stop Living Paycheck to Paycheck

Stop Living Paycheck to Paycheck

Even though you have a job, it can be difficult to manage your money without a good financial strategy and budget in place. If you need to stop living paycheck to paycheck, check out the following tips:

It’s likely your major expenses of a house and car that take the highest percentages from your paychecks. A good rule of thumb is to make sure payments for your home do not exceed more than 25 percent of take home pay wages, while car loans should not cost more than 15 percent of pre-taxed income. Take time to work out exactly what percentage of your paycheck goes on paying for the roof over your head and the auto driven. You may be surprised to discover where most of your wages go. Options to consider include selling your house and buying something smaller, renting out room(s) in the home and selling the vehicle to buy a cheaper model with cash.

Lifestyle is the next big spending hole to address. If you pay for cable TV, you’re wasting money in many ways, most shows and movies can be streamed or watched for free now. Cell phone bills can amount up to $150 each month, so try cutting these costs by signing up with a cheaper provider and reducing cell phone use.

Finally, food waste is a real problem in the United States. How many times have you trashed food that’s past use by dates? Meal planning and grocery lists help you gain control over food waste and are likely to save up to $50 each month. If your kids have expensive sporting hobbies, why not check out community sports activities in the neighborhood. You may find similar community sports activities are free of charge, giving you instant savings.

When you’ve reviewed your major spending habits, your priorities need to be cutting costs, starting savings and increasing earnings.

Google+ Twitter Facebook

Niiwin, LLC, d/b/a Lendgreen (“Lendgreen”), is a wholly owned subsidiary of LDF Holdings, LLC, a wholly owned subsidiary of the Lac du Flambeau Business Development Corporation, a wholly owned and operated economic arm and instrumentality of the Lac du Flambeau Band of Lake Superior Chippewa Indians (“Tribe”), a federally recognized Indian tribe. Lendgreen is organized and in good standing under the laws of the Tribe. Lendgreen is a duly licensed Financial Services Licensee of the Lac du Flambeau Tribal Financial Services Regulatory Authority, an independent regulatory body of the Tribe.

All loan application decisions are made at Lendgreen’s office located at 597 Peace Pipe Road, 2nd Floor, Lac du Flambeau, Wisconsin 54538 on the Tribe’s reservation. If your loan application is approved by Lendgreen, your loan will be governed by Tribal law, applicable federal law, and the terms and conditions of your loan agreement.

This is an expensive form of borrowing. Lendgreen loans are designed to assist you in meeting your short term borrowing needs and are not intended to be a long term financial solution. The Annual Percentage Rate (“APR”) as applied to your loan will range from 720% to 795% depending on your payment schedule, pay frequency, loan term, and the amount of your loan. Late payments and non-payment may result in additional fees and collection activities as described in your loan agreement and as allowed by Tribal and applicable federal law. Lendgreen does not lend to residents of AR, GA, MD, MN, NY, PA, VA, WV, WI or to members of the military or their dependents.

© 2020