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Ep.116 – Cash Clarity: Tired of Being Stuck Living Paycheck to Paycheck

Struggling to break free from living paycheck to paycheck? In this episode, I share three key steps to help female entrepreneurs break free from the paycheck to paycheck cycle and gain financial security. If you’re ready to take charge of your finances, this episode is a must-listen!

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Tired of Being Stuck Living Paycheck to Paycheck

This is the Your Money Your Life podcast, Cash Clarity Edition, where you get a micro money tip so you can get the money when in five minutes or less. I’m your host, Aimee Cerka.

After over 10 years in the personal finance industry, and multiple personal financial and medical crisis, I was fed up with the lies that are being shouted from the rooftops, by the Gurus and the media. So now I make money simple so that you have the confidence that you need to handle the money thing without sacrificing your lifestyle. If you’re a female entrepreneur who wants to make more money and are ready to eliminate fear, stress, struggle, frustration and guilt, from your finances, in all the areas that they affect. You’re in the right place.

Welcome. I’m so glad you’re here.

Working with female entrepreneurs, many of my clients feel stuck living paycheck to paycheck on their pursuit to success within their business. Today, I’m going to share with you three key steps to put you on that path to a cushion that level of financial security. If we haven’t met, I’m Aimee Cerka, your go to money confidence coach for making money simple, with straight to the point strategies all so that you can make more money in less time. So let’s get to it.

Step 1: Track Your Expenses

The first thing that you need to do, if you’re feeling that stuck in that paycheck to paycheck, you probably don’t have a budget, then we need to track because you can’t grow, you can’t do anything about what you’re not measuring, right. So we had to start tracking. But this doesn’t have to be an overwhelming thing.

At as simple as I want you to pull out a sheet of paper, an Excel spreadsheet, I’ve got resources for this, if you want them, I’ll make sure they’re in the description for you. But we had to start tracking. Track the things that you have to pay for on a regular basis, business and personal to separate sheets.

So what date is the rent or the mortgage come out every single month? What day is the electricity bill come out? What is the water bill come out?

That way you know what’s coming out when and you’re not wasting the brain space having to scroll through the bank account going okay, we should be fine, because that’s not due for two weeks. But oh yeah, this has to be due, you don’t have the space for that. You don’t need to take the space for that.

Get it out of your head onto paper so that you can track it and make educated decisions. Now again, this isn’t about overwhelm going back 30, 60, 90 days, that’s great. That’s not realistic. Start now with your spreadsheet as of today. Okay.

Step 2: Designate Money for Your Goals

The second part here, this is where you’re really going to start to see success and progress. So if you want to get out of that stuck living paycheck to paycheck, or any of those, like, I don’t have any cushion, we have to like create a positive, where you’re going towards okay.

What are you working towards? Is this a cushioning a savings account? Is this funding an investment? Is this funding your business is this buying something, whatever that thing is that you’re working towards that next step?

We need to start designating money for it. And if you’re saying like, “Aimee, I don’t have money to be able to do that.” Start small, $25 It doesn’t have to be a lot.

But you do that first when you get paid. If you’ve seen several of my videos, that weekly check-in that we do this is when you do that, okay? Whenever you get paid or when you’re doing your weekly check-in, designate the money first. Move it over.

If you’re putting in the same as count, separate bank, all the things right, do it first. And then you’ll be able to figure it out. By prioritizing what you want to happen, you’re going to make progress.

Even if it’s just small, incremental step by step progress, it all adds up. And it’ll start to compound because you’re in action.

Step 3: Create a Positive Money Association

Now the third thing that we need to do is really like tying it all together for you is a Positive Money Association, we have to create a Positive Money Association. And there’s really like two ways that we do this.

The first is through our daily Money Minute. So Monday through Friday, I want you to log in look at your bank account. I don’t care what the number says, login, look at the bank account and immediately after it look at something that symbolizes, recognizes the thing that you’re working towards.

Okay, so maybe it’s a new vehicle you want to buy, go look at vehicles. Maybe it’s a property you want to buy, go look at properties. Maybe it’s a Chas or an organization, you want to help, go look at their website, whatever it might be.

We’re tying the association of the bank account balance to the thing that we’re working towards. Okay.

And then the second part here is you have to have a system set up to have fun money, okay? Even though things are tight, it’s just a little bit less than the fund money account. But if you are tightening everything down and not spending anything, that’s not like you’re holding everything in you can’t receive like that.

Okay, so we have to have fun with our money and reasonable in a reasonable way. Okay. If you set up the system like I recommend then that’s all done for you. Like it’s already there. But you have to have a system or something in place, you have to have fun with your money, which happens easier when you have the system in place.

Not All Impulse Spending Is Bad

So not all impulse spending is bad, we need to be able to have that fun and enjoy it in return, you create that Positive Money Association, so that you can move forward. Okay, so we’re tracking our, like money that we’re tracking our monthly expenses. We are breeding like positive forward actions towards our goals, we’re doing the things that we need to to move forward.

And then we are creating a Positive Money Association by doing the things that we need to now instead of trying to watch 100 via videos to piece together the strategy you might need, you can grab my Cash Flow Calculator and see your cash flow potential and 12 simple questions. It’s called a Cash Flow Calculator. But it’s more like assessment.

And what I do with this, this is the first thing that I have, My Money Mastery Academy members do, we go through this Cash Flow Calculator so that we can see exactly what they need to tweak to unlock their cash flow potential? Because you’re probably already doing the work? We shouldn’t make sure you’re doing the right work.

So if you want to check out that Cash Flow Calculator, make sure to drop me a “cashflow” below. This episode originally aired on YouTube but don’t worry, all of the resources and support options I mentioned are hanging out in the show notes for you. And of course, if you have any questions, please reach out to me @aimeecerka on Instagram and that link is below as well.

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Aimee Cerka
Aimee Cerka

The Money Confidence Coach - She helps motivated women, like you create the happiness, family life, financial security, and long-term wealth they deserve. Create unstoppable finances so that when the next curveball is thrown your way... You're prepared. Click Here to Learn More

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