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How to save between paychecks

by Jon Platt on September 05, 2016

How to Save Money Living Paycheck to Paycheck



Living paycheck to paycheck is no fun. Trying to save while living paycheck to paycheck is no walk in the park either. But yet, the only way to defeat living in this abusive cycle is to get ahead to the best of your ability.

This is why it’s so incredibly important to take the first step and save your first dollar. Saving while living paycheck to paycheck shouldn’t be optional. It’s a given if you truly want to overcome this way of living.

I’ve been listening to the people (you) and one of my most popular articles here at LAAB is How to Get a Month Ahead on Little Income. In this article, I’ve given you an example of how Terri made strides to overcome the paycheck to paycheck cycle.

Today I want to provide more helpful ways on how you can save money while living paycheck to paycheck. I understand this is no easy task, but again, this isn’t optional!  Start small and take baby steps. Before you know it you’ll be ahead and living paycheck to paycheck will be a thing of yesterday.



There is no way around budgeting!  If you want to get your finances together, save more money, and overcome paycheck to paycheck living, it all starts with having a plan for your money. However, before you create your plan, you need to know what you’re spending your money on.

Further Reading: How to Create a Simple, Easy Budget for Beginners

If you’ve never tracked expenses before, this is where you need to start. Tracking your expenses allows you to get an overall picture of your spending habits. It will help you learn what you need to cut back on and will tell you where you may actually need to spend more money.

 Create a Savings Goal

Once you’ve tracked your expenses and created a budget, now it’s time to determine your savings goal. Let’s focus on one important savings goal that will help you defeat a paycheck to paycheck

lifestyle – an emergency fund.

If you’re currently in debt, set a minimum savings goal of $1,000. I elected to save a minimum of $3,500. It’s best to have emergency savings to maintain a bare-bones budget in the event of a medical emergency or job loss.

So if your savings goal is $1,000, you simply need to divide this by the number of paychecks you will receive during any given timeframe.

Let’s say your goal is to save $1,000 in a year and you’re paid bi-weekly. Divide $1,000 by 26 (number of paychecks) and you will need to save roughly $40