Welcome to the challenge! This 30-day course is all about helping you break the cycle of paycheck to paycheck living.
When you live paycheck to paycheck, you don’t have a one-month cushion in the bank to cover a full month’s worth of expenses.
Not having that cushion means your finances are always hanging in the balance, creating a never ending cycle of worry and fear. It means that if your paycheck comes late, you’re at risk of overdrafting your checking account to pay for rent or utilities. It means that if an unexpected bill appears, your normal spending may be thrown off to cover it. It might even mean that some weeks, you can’t buy all the groceries you need.
Living this way is exhausting and it creates unnecessary stress on you. But since you’re here, you probably already know that to be true. You may have even tried breaking the cycle before. But as you may know, once you’re caught in this loop, it’s incredibly hard to get out. And the reality is, some of the reasons you’re stuck in this cycle may be out of your control.
But even if the odds are stacked against you, there are ways to get out. And we believe that boosting savings to build a one-month cushion is a great way to do it.
When you do have a cushion, you can breathe a little easier. You’re able to pay bills without having to time those expenses with your paychecks. You can buy groceries whenever you need to — even before your paycheck arrives! And if you’re already budgeting with Goodbudget, a cushion makes it possible for you to fill your Envelopes to full at the start of the month rather than having to partially fill them multiple times. Dogeman said,
“[Before Goodbudget], we didn’t have a good way to track our spending. There were times we were down to less than $20 in the bank by the time payday came around.
Now, we stay on the same page and can track every dollar. We’ve only used the app for about 4 months and have an excess in the bank at all times. We just saved up our $1000 emergency fund and have been paying down debt. The peace of mind has been tremendous.”
It’s clear that having a cash buffer offers some stability and reassurance.
That sounds nice, right?
As you take this course over the next 30 days, you’ll challenge yourself to hustle hard to create a plan to boost your savings, with the goal of building a one-month cushion and breaking the cycle of paycheck to paycheck living.
What will that actually look like? At the beginning of the course, you’ll consider several options you can use to boost your savings — temporarily increasing income by taking on a side gig, taking on more hours at work, and/or by cutting back on spending — and you’ll set a goal for how much you’d like to have saved up by the end of the course. Next, you’ll learn how to track your savings using the Goodbudget app. Finally, you’ll learn tips and tools to help you maintain that cushion for as long as possible, but also how and when to use it if necessary.
Ready to get started?
Starting tomorrow, you’ll receive weekly assignments to help inform and motivate you through the challenge, so be sure to sign up to get the assignments sent straight to your inbox.
Until then, check out the assignment below.
Homework
Leave a comment and let us know what you’re most excited about when it comes to building your cushion and trying to break the paycheck to paycheck cycle. Are you excited about not having to time your bills with your paychecks?
- Let us know when you plan to work on your homework over the next 30 days.
Note for couples: If you’re budgeting with a partner, be sure to include them in this challenge. It will be really hard to build a cushion and break the paycheck to paycheck cycle if you aren’t both on the same page about boosting savings and setting money aside for that new cushion.
305 thoughts on “Get Ready to Stop Living Paycheck to Paycheck”
I plan to do this first thing in the morning.
I recently found the courage to ask for a raise at work (thankfully it was granted!) and I’m living with this momentum and gaining control of my budgeting/saving. It’s time! I plan on working on the course early in the morning before my kids awaken.
I plan on doing the course once a week at my desk. My plan is to complete every Friday morning, unless I have additional time in between.
I don’t think im receiving any course work. Just loops around to this infor page when i click on links?
Time to learn to get ahead and have that cushion of not living week to week.
Every morning I’ll sit with a coffee and go over my homework.
I am excited to have the assistance to budgeting. I’m ready to take control instead of finances controlling me. I plan on working late afternoon between jobs.
I am 62 and still live paycheck to paycheck and want to stop and learn once and for all how to budget so I can travel
I agree, but it is hard
I somewhat recently survived a relationship with a narcissist. Not only was I being physically, mentally and emotionally abused, I was financially wiped out by my abuser. I am looking forward to rebuilding a life! I intend to make these lessons part of my morning routine.
I plan on working on them in the evening after my 2 year old goes to sleep.
I plan to work on every chance I get. I need to break this pay check to pay check cycle. I want to travel with me daughter and not worry.
I am looking forward to getting out of debt and being able to go on a road trip without having to use credit to pay for the extra gas and lodging!
I plan on doing the courses after work or before bed each day.
43 living pay check to pay check never getting to go on vacation sucks. working on this after dinner and an hour befor bed.
Lord be with us and bless us with wealth and knoledge…..AMEN!!!!!!
I am looking forward to getting the much-needed monthly cushion and being able to have enough money to buy whatever I need without having to worry about running low on funds.
I plan to work on these assignments whenever I work on my finances on Wednesdays & Fridays.
I am desperate to conquer this once and for all. I will be doing this together with my hubby in the evenings!
I’m so excited to get out of the financial hole that making poverty wages has put me in.
I am most excited to learn the skills and tools required to break the cycle of living paycheque to paycheque. I hope once I am arms with the right skills and information, my daily anxiety and guilt will begin to subside. I intend to do my homework in the evenings as a part of my evening routine, or during my wide down time!
I’m excited about the possibility of not living paycheck to paycheck because I’ve been doing it for years. I’ll be working on this when I get off work
I am excited to start this new journey of improved financial independence.
I’m mostly excited about finally putting my foot down and building a solid foundation for myself financially so I don’t have to live pay check to paycheck anymore. I plan on doing my homework in the morning before work.
I’m excited about living a little less stressed out. I plan on working on the assignments after I call it a night from gig work.
For the first time in our lives my husband and make decent money, but are in debt and still living paycheck to paycheck so I’m excited to stop it. I will be working on this in the evenings at home.
As newlyweds just 2 months in , my wife and I really want to get ahold of our finances. We are both sick of living paycheck to paycheck and want to use Good Budget as a means to coach and guide us in a positive way to get ahold of our debt to wealth ratio.
I’m most excited about creating a situation in which my partner can do some of the fun things they’re currently going without. I’ll be working on this Wednesdays (budget day) and as I have the energy throughout the rest of the week.
I’m planning to build up savings by the end of each month by breaking my month up into weeks
I’m so sick of the stress of living paycheck to paycheck. Im ready for a change. Can’t wait to do these every morning
I’m excited to be able to stop living paycheck to paycheck and start saving
I need to break the cycle and do things right. I am tired of worrying.
I plan to start the course today if received
I will be doing my homework after completing my morning routine.
I’m excited about learning how to be able to survive with the financial situation I’m in, improve it, be prepared should it happen again and it’s something I can teach my future children.
Over the years, I have not been disciplined in my spending and as a result, I have been suffering from having a month’s cushion. I’m excited to learn tools in this course to elevate me from this problem.
I plan to do my assignments daily after dinner.
I hope this works. I will be thrilled to have less financial stress. I really need for once to see and experience positive results financially.
I will consistently make and apply the time required to complete the assignments.
Working on this in the evening. Excited to have freedom and not worry about finances
I am ready to feel like I’m living and not just surviving! I plan on working on this with my wife in the mornings!
I CANT wait!
I will do mine in the evenings, after work.
Day time
I will do mine in the morning before work. I want to be able to stop living paycheck to paycheck. Knowing where my money is at all times.
Every evening after work
I’m looking forward to building a much needed cushion and breaking the paycheck to paycheck cycle so that we can breathe! This will allow us to save for emergencies and a house. We will get a foothold on our finances.
I’m 71 and living on a government pension, but I would still love to know how to get out of this mess.
In previous months, I have built a financial cushion and not having to pay only the minimum payment or if the bill is lower, not being able to pay it off immediately can be stressful, because paying off pending bills frees up money for savings or pay other bills off. I am excited to get back to living that way especially being a single mom.
I am excited to be able to breathe between paycheques knowing I am ok
I would like to have more control of our finances, and I am excited to get started on that journey with this course. I will work on this in the morning over coffee.
Hi I’m Carly
While using the course I intend to meticulously get my finances in order. Learning the app, collecting receipts and planning for my future. Also lots of study.
I will do this daily before breakfast.
I hope to at least get my head above water financially .
First thing I. The morning
I plan to do this course in the evening with my partner. We recently moved into our first apartment together and want to become more aware of our spending as it seems like there is always a bill to pay and we can never catch up. I am excited for us to become more comfortable and having that cushion.
I am looking for peace of mind. I will work on it during the weekend.
I am most excited about being more in charge of my finances.
I plan on doing this course in the morning when I plan my day.
I’m looking forward to achieving financial security and cultivating better financial practices.
I intend to tackle my homework in the evening following dinner.
Excited to reduce unnecessary stress. This will be my Friday morning assignment for next few weeks.