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Four ways to stop living paycheque to paycheque Four ways to stop living paycheque to paycheque
Did you know that over 1 million Americans file for personal bankruptcy every year? I was once very close myself. I didn’t crash and... Four ways to stop living paycheque to paycheque

Did you know that over 1 million Americans file for personal bankruptcy every year? I was once very close myself. I didn’t crash and burn, but escaped my financial nosedive. The average household has over ten credit cards. People are living above their means. We are drowning in debt, and the problem is getting worse. Many people are foreclosing on their homes and will have to live on the streets. The root cause of it all? Debt.

When did you receive your last paycheque? How long did it take for you spend the money you earned? Many people spend their entire paycheque the same day or within a week after receiving it. We want to live the dream of having a nice house, a nice yard and a nice car. What “nice” means is subjective. While most Americans can’t afford their own American dream, they are still trying to live it.

Sounds familiar? Are you living paycheque to paycheque yourself? Here are five ways to improve your financial situation:

1. Direct deposit. If you do not have direct deposit setup to receive your paycheque, enrol immediately. Cashing checks at a check-cashing store costs on average anywhere from 1% to 5% of the amount of the check. If you do this each payday, this is money that you are losing. Use direct deposit for free, save yourself some money, and get your money faster.

2. Education. Commit to continuous learning. Go back to school to further your education. Learn something new, or take training classes to expand your skills at your current job. This will put you in a better position to get a promotion or a salary increase. That extra money can can help in many different ways. You can create a savings account, plan for retirement, pay down debts or cover expenses.

3. Budget. Stop using money you don’t have. If you are in debt, stop using your credit cards and pay for everything with cash. Create a budget to determine your total monthly expenses versus income. Reevaluate your spending habits, reduce your expenses and various plans or cancel them (cable, phone, cell phone, Internet, etc.).

4. Savings. You should have enough money saved to cover 3 to 6 months of your bill payments. The interest rate at banks right now is very low. Try opening a high interest online savings account. If you’re in Canada, have a look at Tangerine. If you sign up using my code 17449185S1 you get a $50 bonus! With your savings you can develop long-term goals. You can start planning for retirement, college education, homeownership, etc.

Nothing last forever. If you want to stop living paycheque to paycheque, you have to change your mindset. Take a leap of faith with me and focus on your financial goals. My ebook The Wealthy Artist shares my common sense guide to finding success. The best part, it’s not only for artists.

Get yourself a copy of the Wealthy Artist ebook through my blog now. It’s on for a limited time only, so don’t miss out.

Wilko van de Kamp Author

WILKO VAN DE KAMP is the author of #1 international best seller The Freedom Project and several other books and e-books. He's also an award-winning photographic artist, and professional world traveler. His inspiration comes from traveling all over the world. He calls the Canadian Rocky Mountains his home, and the rest of the world his office. He has been capturing our wonderful planet, and it's beautiful inhabitants, for more than half his life. Wilko has spent his life traveling the world to capture awe-inspiring images for those who wouldn't see them otherwise, and to inspire others to embark on their journey of a lifetime. Through his art, writing and appearances as a keynote speaker he enjoys sharing his colorful experiences with the world. Visit him online at