Episode Details
Back to Episodes
Paycheck Plan: How to Stop Living Paycheck to Paycheck | 71
Description
Ready? Buy Our Simplified Budget System Now!
*This episode was recorded when our business looked a little different, so some links, offers and resources mentioned may have changed. For the latest, visit budgetbesties.com.*
People are stuck living paycheck to paycheck. When a paycheck arrives, they desperately try to make it do all of these magical things and then white-knuckle it until the next paycheck. That’s not great. Our paycheck plan makes every paycheck look the same.
Once you set this system up, your money will do the exact same thing every paycheck, which is going to make your life easier. Furthermore, you’re going to have enough money to last so you won’t even worry about when that next check is going to hit!
Your paycheck plan will take your monthly expenses and divide them by the number of paychecks you have each month. Then you’ll set up automatic transfers to the designated amounts you determined to happen on payday. That means the only thing you’ll have to do differently when a paycheck comes is fund anything special for the month and make any extra debt / savings payments.
In this episode we also cover:
- How your budget is monthly, but it’s funded by paychecks.
- Don’t wait until the end of the pay period to pay extra on debt.
- How you can’t spend money if it’s not there.
- How to save money and pay extra on debt every paycheck.
- How there’s no such thing as an extra paycheck.
- How Vanessa’s pretend gas budget is laughable.
- How to fund groceries, gas, haircuts and everything else each paycheck.
- How you only have to do TWO things manually each paycheck once you’ve set up our systems.
“That’s the beauty of the paycheck plan because you've done your budget and you know exactly what needs to happen when your paycheck hits. And it’s always the same and you don't have to use any brain calories.”
Let’s Take Our Relationship To The Next Level:
1️⃣ Facebook Group ➡︎ budgetbesties.com/facebook
2️⃣ Be on the Podcast ➡︎ budgetbesties.com/livecall
3️⃣ Private 1-on-1 Coaching. ➡︎ budgetbesties.com/coaching
This podcast is for educational and informational purposes only and is not personal financial, legal, or tax advice.
This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase.
Click here to view our privacy policy. https://budgetbesties.com/privacy