Are you addicted to paycheck? Tips to Get out of this vicious circle:

Are you addicted to paycheck? Tips to Get out of this vicious circle:

Are you living paycheck to paycheck? If yes, then you aren’t alone on this boat. Living paycheck to paycheck means that:

“All your salary comes and goes right back by the end of the month.”

However, if this is the situation, you can only save a little for the future if you have enough money. There is another term in which we refer to salary as a drug and a destructive addiction. We know it’s a bold statement, but in this writing, we will discuss how salary is a drug. Apart from this, we will discuss the ways to get out of this vicious circle.

How is paycheck an addictive drug? Are you addicted to this drug?

I hope you have heard about Nassim Nicholas, a famous author who has written many books. According to the Nassim:

“There are three most harmful addictions: heroin, carbohydrates, and a monthly paycheck.”

It’s a harsh statement, but the writer of “Black Swan” explained the whole theory in his book. So, according to the above approach, everyone is on this drug right now. In past years, entrepreneurship saw a peak, but most people still work under salaried employees. If someone works as a salaried employee, they exchange time for money. However, the salary period varies according to the situation, as it could be weekly, bi-weekly, or annually. If we critically look at the situation, most of us are stuck in this vicious circle. However, the salaried system is engraved in our society as it is the most logical and acceptable system in the world.

Connection b/w drugs and salaried paycheck:

When you look at the monthly pay stub, I’m sure you feel worried about the expenses for next month. Furthermore, many people are dealing with the insecurity of losing jobs because, in this situation, they can’t survive. So, if you think about the similarities between drugs and salaried positions, I’m sure you would be amazed.

Money gives similar satisfaction as drugs:

Each time when a person does drugs, he gets high. So, in this link, there is a strong connection between money and drugs. According to scientists, some brain parts are stimulated by drugs and money.

It’s an unhealthy addiction:

We all believe that a good job with an excellent monthly salary is nothing less than a blessing. But at the same time, if we look at it critically, it's one of the unhealthiest addictions. For instance, your paycheck might hold you back from achieving big. If you aren't indulged in a vicious circle of salary, then you might own a business. So, if you want to escape your monthly salary, start your own business, or do something else to free yourself up from this circle. There are many easy mobile business ideas that you can start today.

You plan your life around drugs:

It is another similarity between monthly salary and drugs. For instance, a drug addict plans life according to the availability of the drug. However, this is the same case for monthly salary. You always fear layoff, unemployment, or uncertainty that you will not receive your paycheck. So, it’s one of the reasons people feel scared and don’t leave their jobs.

In addition, many other points show the similarities between drugs and monthly salary. It happens when you let someone control you that much. A monthly paycheck also holds you in the following ways:

  • To feed, you need monthly checks regularly
  • If the salary doesn’t come for any reason, then it can go into withdrawal
  • A monthly wage makes it hard (nearly impossible) to build generational wealth
  • If the paycheck doesn’t come on time, you may begin to relapse

In short, pay controls your life, and you can’t help yourself. However, as a result, you compromise on your dreams and live an ordinary life.

How to get out of the circle of monthly salary?

Nothing is guaranteed in life, but you won’t know anything until you try. Many people start side hustles and later convert them into full-time businesses. However, all these people had one common thing: faith and consistency. Successful people do not let the world decide their worth based on a monthly paycheck. So, if you want to grow, you will have to challenge traditional ways and acquire skills other than your primary education. But before following an untraditional way, follow these tips to break the cycle of paycheck to paycheck:

Focus on budgeting:

Budgeting is one of the most crucial things that can break the vicious circles of money mismanagement. So, if you don’t want to live paycheck to paycheck and want to save something, then create a budget. It’s vital to track all money coming and going out of your account. Keep an eye on your paystub to calculate the yearly income and compare it with last year to assess the progress.

Get out of the debt:

Debt is one of the biggest enemies. It’s nearly impossible to make progress when you are indulged in debt. So, try to get out of debt ASAP. Moreover, while budgeting, set aside a specific percentage of money to pay off the debts. Paying those loans with a high-interest rate is vital because they significantly increase expenses.

Increase income streams:

It is another excellent tip that will help you to stop living paycheck to paycheck. Moreover, having more income streams will play a vital role in getting out of the vicious circle of monthly salary. Here are ideas that you can start as a side hustle:

  • You can work part-time
  • Start your online project
  • Give e-com a try
  • Start your marketing venture

You can start anything, even if it’s bringing a few more dollars each month. So, make up your finances and invest somewhere to get payback.

Save for big stuff purchases:

There is no point in saving if you are going to spend thousands of dollars during the black Friday weekend. So, save up in advance instead of blowing an entire month’s budget if you think a big purchase is coming. If you find fantastic deals that your friend is selling but you don't need, then say NO, even if the price is excellent.

Pro tip: Sometimes things get more challenging but keep going and think you have big future goals. So, stop thinking and start working now to fulfill your dreams.