Success Engine: How To Avoid Living Paycheck To Paycheck

written by

Today At A Glance

  • Question: Do you live paycheck to paycheck?
  • Deep Dive: How To Stop Living Paycheck To Paycheck
  • What I’m Thinking About: Is College Necessary?

reading time: 3 minutes


Do you live paycheck to paycheck?

Living paycheck to paycheck is stressful and exhausting. That’s because an unexpected bill can put you into debt at any moment.

In this week’s deep dive, I’ll help you break out of the cycle of living paycheck to paycheck. You’ll learn four ways to spend less and four ideas that can help you make more money. Keep reading to take control of your financial future.

Deep Dive

If you like this week’s deep dive, my full-length video and article go even deeper.

4 Ways to Spend Less and Make More Money

Spending Less

Tip 1: Find Free or More Affordable Alternatives Look for free options like borrowing books from the library or enjoying local parks instead of expensive theme parks. Make cost-effective choices like cutting hair at home or building a home gym to save money.

Tip 2: Swap Services

Consider exchanging services with others instead of paying. For example, if you’re good with cars, computers, or marketing, offer your services in exchange for something you need. Remember to ensure the value you offer matches what you’re asking for in return.

Tip 3: Share Resources

Live in a neighborhood with community amenities instead of paying more for a home with a large yard and a pool. Likewise, explore carpooling to work or co-owning expensive tools like a table saw with friends or family.

Tip 4: Let Go of Your Ego

Avoid buying things to impress others if you can’t afford them. Instead, focus on building wealth and financial security. Remember, there’s a big difference between appearing wealthy and actually being wealthy. So, consider if you truly need an item before buying it.

Making More

Tip 1: Get a Second Job

Working multiple jobs can significantly boost your earnings. So explore various opportunities, both traditional and digital, to increase your income. Traditional options include babysitting and landscaping, while digital options include driving for Uber or selling items on Etsy.

Tip 2: Rent Your Thing

If you have valuable possessions that you rarely use, consider renting them out. For example, you can rent your car on Turo, a spare room on Airbnb, or camera gear on ShareGrid.

Tip 3: Consult or Freelance

You can leverage your skills and talents for income. For example, sell your services on Fiverr or Upwork if you’re good at web design or drawing. Teach music lessons if you’re musically inclined. Or pick up odd jobs if you have home improvement skills.

Tip 4: Get Paid What You’re Worth

Don’t be afraid to negotiate for higher pay when the opportunity arises. Likewise, consider changing jobs if it means a substantial salary increase.

Want More?

Check out my full-length video and article on how to stop living paycheck to paycheck.

What I’m Thinking About

Is College Necessary?

When I completed high school, I believed college was the only option. So I studied mechanical engineering because I was good at math. In total, I took 60-70 courses, and one of those courses has been beneficial for my career—a technical writing course.

Over the past 15 years, I’ve become a licensed professional engineer and built an 8-figure e-commerce brand. Sadly, my degree didn’t help me with either of those accomplishments.

I learned engineering on the job. And I taught myself how to become an entrepreneur by taking online courses and going to the school of hard knocks.

Now that I’m a father, I often think about how my kids will earn a living. When I was young, not going to college was frowned upon. But now, I question if it’s necessary.

A degree will be necessary if my children choose a regulated career like medicine. But if they follow in my footsteps and become entrepreneurs, I’d argue that college will hold them back.

Why should my children spend hundreds of thousands of dollars on an education they won’t use? More importantly, why should they spend four years getting a degree when they could have used that time to become an entrepreneur?

What do you think?

DISCLAIMER: Please be aware that the information presented in this email is for educational purposes only and should not be considered as personalized financial advice. The creator of this email is not a licensed financial advisor and any decisions made based on this information are at your own risk. It’s important to consult with a qualified financial professional before making any financial decisions, as this information does not consider individual investment goals, risk preferences, or financial situations. Please remember that past performance does not guarantee future results, and all investments involve risk, including the potential loss of your initial investment.


Chris Thornham 80/20 Financial Planner
Take Control Of Your Finances

Reduce financial stress, reach financial freedom, and achieve financial goals like buying a home, paying off debt, and investing for retirement.

Ten Thousand Dollar Giveaway Sweepstakes Entry Contract

By entering this Ten Thousand Dollar Giveaway Sweepstakes (the “Sweepstakes”), you agree to the following terms and conditions:

1. Eligibility: This Sweepstakes is open only to legal residents of the United States, Canada, the UK, and Australia, who are 18 years of age or older at the time of entry. Employees, contractors, directors, and officers of LLC, its affiliates, subsidiaries, advertising, promotion, and fulfillment agencies, and their immediate family members and persons living in their same households, are not eligible to participate.

2. How to Enter: To enter, visit, and complete the entry form with a valid email address. No purchase is necessary. Only one entry per person is permitted. Automated, robotic, or programmed entries are not allowed, and any such entries will be void.

3. Winner Selection: The winner will be selected in a random drawing from among all eligible entries received. The odds of winning depend on the number of eligible entries received. The winner will be notified by email and will have 30 days to respond and claim the prize.

4. Prize: The prize for this Sweepstakes is $10,000 USD. No substitution or transfer of the prize is permitted, and no other alternative will be offered. All taxes, fees, and other expenses related to the prize are the sole responsibility of the winner. The prize will only be awarded if at least 10,000 eligible entries are received during the Sweepstakes period. If less than 10,000 eligible entries are received, LLC reserves the right to cancel the Sweepstakes, in which case no prize will be awarded. LLC may, at its discretion, extend the Sweepstakes period in order to reach the minimum number of eligible entries required to award the prize.

5. General Conditions: By entering this Sweepstakes, you agree to be bound by these official rules and the decisions of LLC, which are final and binding in all respects. LLC reserves the right to disqualify any individual who tampers with the entry process, violates these official rules, or acts in a disruptive or unsportsmanlike manner. The use of any automated or programmed entry method or any other means to obtain multiple entries is prohibited and will result in disqualification.

6. Release and Limitations of Liability: By participating in this Sweepstakes, you agree to release and hold harmless LLC, its affiliates, subsidiaries, advertising, promotion, and fulfillment agencies, and their respective directors, officers, employees, and agents from any and all liability, injury, loss, or damage of any kind arising from or in connection with your participation in the Sweepstakes, the awarding, receipt, use, or misuse of any prize, or any other matter related to the Sweepstakes. LLC is not responsible for any incorrect or inaccurate information, technical failures, or any other errors or problems that may occur in connection with the Sweepstakes, including any injury or damage to your computer or mobile device.

7. Governing Law: This Sweepstakes is governed by the laws of California, without regard to its conflict of law provisions.

8. Privacy Policy: Information collected from entrants is subject to LLC’s privacy policy, which can be found at

9. LLC reserves the right to modify, suspend, or terminate the Sweepstakes, in whole or in part, for any reason, including but not limited to any error, technical problem, fraud, or any other cause beyond the reasonable control of the company that affects the administration, security, fairness, or proper conduct of the Sweepstakes. In the event of any such modification, suspension, or termination, the company may, in its sole discretion, choose to extend or shorten the Sweepstakes period by up to one year from the original end date of May 4, 2023.

By entering this Sweepstakes, you acknowledge that you have read and understood these official rules and agree to be bound by them. If you do not agree to these terms, do not enter the Sweepstakes.