Living paycheck to paycheck means that a person’s income is just enough to cover their expenses until the next paycheck arrives. In other words, they have little to no savings or financial cushion, so once they spend the money from their current paycheck, they rely entirely on their next paycheck to pay for their basic needs like rent, bills, food, and other essentials.
Key points about living paycheck to paycheck:
- No financial buffer: Little or no savings to handle emergencies or unexpected expenses.
- High financial stress: Constant worry about making ends meet.
- Vulnerable to disruptions: Missing a paycheck or unexpected costs can cause serious financial problems.
- Common situation: Many people, even those with decent incomes, live this way due to high living costs or debt.
If you want, I can also share tips on how to break out of this cycle!
