Experts in This Article
Tiffany Aliche is a financial educator and founder of The Budgetnista.
Winnie Sun is a money manager and financial expert.
Improve your financial health while living paycheck to paycheck by creating a budget.
Heres how in 9 steps:
1.
First, grab a piece of paper and a pencil, and list all of your expenses each month.
This should include your rent or mortgage, car payments, haircuts, takeouteverything.
Tiffany Aliche is a financial educator and founder of The Budgetnista.
Then, add them up.
Finally, she labels everything elseall discretionary spendingwith a C.
4.
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Sun has a few suggestions of what this looks like:
5.
Negotiate your hard costs
Next, you could make a run at cut your bills.
it’s possible for you to also speak with your landlord or building manager about negotiating a price reduction.
Its usually best to pick the more expensive car, she says.
you’ve got the option to get registration fees reduced this way, too.
Into one, transfer the money for your Bs and Bus.
Tiffany Aliche is a financial educator and founder of The Budgetnista.
Into another, transfer money for any savings (if possible).
And into the third, transfer money for your Cs.
Another strategy is to increase your income, and the first step for this is to approach your employer.
If this fails to surface an income increase, Aliche recommends you take on a side hustle.
And sometimes, cutting expenses just isnt enough to create a paycheck-to-paycheck budget thats sustainable.
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