How to Stop Living Paycheck to Paycheck and Create Better Spending Habits
Jose Luis Pelaez Inc

Research shows that nearly 50% of Americans are living check-to-check. Wealth advisor, CEO of a financial group and motivational speaker, Malcolm “MJ” Harris shares three of the most common mistakes that people make with their finances. Harris admits that even after making six-figures, he too was still living paycheck to paycheck – here’s how he changed that. 

Top 3 Commons Mistakes People Make with Finances: 

1. Using money to impress people: 
It is a recipe for living paycheck to paycheck. If you are running the race of trying to use money to keep up with how you believe you want to project yourself, you’ll eventually put yourself in that box of living check to check.

2. Lack of Belief that you’re worthy of financial security: 
You can teach someone how to invest and save, but the reason that most people don’t do it is because there’s a disconnect between how they value themselves and the financial decisions that they make. Living in wealth and abundance is a goal that anyone can do if they’re willing to make the consistent changes. 

3. Staying silent about lack of financial knowledge: 
You can’t fix it if you can’t acknowledge it. We are shamed into silence and don’t reach out to people that can help us. We can sometimes even be so ashamed that we won’t even admit it to ourselves.

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How to Fix It:

1. Own it:  
Be honest with yourself about the fact that you don’t have a healthy relationship with money. 

2. Document your spending:
Record your monthly expenses and look into the money management apps that can assist with that. It can be very startling yet empowering to know how much you’re spending. 

3. Set your monthly goals:
Identify three expenses that you can eliminate or reduce per month. That’ll get you in the flow of how to be more efficient with your funds.