BEGINNING TO LIVE ON PAYCHECK TO PAYCHECK
Are you living paycheck to paycheck right now? Maybe you are working on a job. But you are not making enough money. Or maybe you are looking for a job or looking to enter the workforce. Maybe you are in a transition period right now for something better. This is not wrong with having a job. But you are not living with your potential. Think and understand, sometimes people ask a question from me; should I do a job or not. I always said, get-go to a job and get some money coming in, get some income coming in.
Sometimes you work for living to get some money coming in and to pay the bills. Nothing wrong with that but we see, we all entering into the rat race. Since a very young age we all being programmed by society, go to school, get good grades, having a secure job. Work for the years and then wait for your death.
When little kid needs something they go to their parents and ask I want this video game or candy or some other gadget. What most parents reply, go get a job and buy what you want. So, at a very young age’s we all talking only one word the only word to make money i.e. “JOB”. We do not talk in any other word to generate income.
I am not asking to quit your job tomorrow and start some business to go top of the world. What I am saying is maybe you are working in a job & you are looking for something better. Go for it but my question is what your long term goal is? Job is only for to complete your short term needs.
This means you are using all your monthly income to cover your expenses. Having nothing in your savings and again waiting for your next month’s salary to cover your expenses.
CHECK YOURSELF PAYCHECK LIVING
- If you are living paycheck to paycheck, you constantly ask yourself and family to live on a budget.
- When you receive a message “your salary has been credited to your account” your happiness is equal to this entire world.
- After paying your all bills you are checking your account what left with you now.
- You ask yourself continuously that money isn’t everything.
- Your account nearly empties before your next salary.
- You feel again happy when phone message blinks “your salary has been credited to your account” and cycle starts again.
If I talk about me this happens with me. And I feel the same so many times in almost 10 years of career.
TIPS TO STOP LIVING PAYCHECK TO PAYCHECK
TIP-1 # JOB SECURITY – A MIRAGE IN A DESERT
I asked one same question to most of the peoples I met – “what they want – a job, a job with benefits, or hustle in a business? They always said one word; the word is “SECURITY”. They want a job with security. This security is nothing more than a mirage in a desert.
Because most of you think by doing a job you have regular income and this regular income gives security. Now, think like what happens when your next salary not credited to your account on time. Salary not on time means you may miss your home loan EMI, your car loan EMI and even your kid’s school/college fees. Now, what if your company where you work go bankrupt. Doing a job for a longer period gives you feel more INSECURITY rather than security.
Now I give you my example, most of the time (even after 9 years of working) I feel – “next number is mine to whom the company said collect your full and final & leave the company”. Now, where is my Job Security?
Now industries are disrupting themselves and changing technology quickly. The company where you work is doing good today maybe not working well tomorrow. Then where is your Job Security? So thinking about job security is everything, this leads you to live on paycheck to paycheck. Remove this thought and go get your long term goals.
TIP-2 # ALWAYS WORK TO LEARN
98% of graduates just after college go to search for jobs. They entered where they have no interest. Or they just want to earn money what else employer gives them. They are happy but they don’t know they are doing wrong.
Give some time yourself to think what your interest is. And then choose your industry. Work there to learn to enhance your skills. It is very important to who you work for than what you do.
If you are working with the passionate peoples your learning like a snowball. But if you work for those who have no vision of their life or company, you’re learning nothing just passing your time.
You never make it what you want. Always enhance your skills, always go for learning. If you go for this when transition comes in your life, your learning and your skills always pay off.
TIP-3 # UNDERSTANDS THE TRUTH – JOB IS FOR TEMPORARY NOT FOR PERMANENT
If you are working in a company for 20-30 years then your academic certificates /credentials all are dead. You are not earning up to your potential. Job is only for learning something not to work for life long. Job is not permanent and today’s time we are working in a same industry for long that our own personal economy become dead.
Use your job to enhance your skills and learn about the industry. So when you need to build your own those skills and interest help you.
Today’s time is not for the job economy, it is for skill economy.
If you have skills you can earn more and can able to left behind your paycheck to paycheck life.
TIP-4 # KEEP YOUR MONEY ASIDE WHEN EARN MORE
I was surfing over the internet and found Parkinson’s law of money. The law says that “no matter how much money people earn, they tend to spend the entire amount and a little bit more besides”.
Think about what you earn in your 1st salary and what you are earning now. Also, look at your expense column. Even after your raise in money your expense also increases. And for some peoples, their expenses are more than their salaries. This will not stop your people to live on paycheck to paycheck life.
Try to keep some savings and investments. So you can have something to enter in entrepreneurship or something else to build; only after you can stop living paycheck to paycheck life.
Living in paycheck to paycheck is ok for someone needy for a job at the start only. But once your income coming and start investing and re-investing to create your wealth machine which leads you to stop living paycheck to paycheck life.