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How To Break The Pay-To-Pay Cycle

Did you know that the majority of North Americans live paycheque-to-paycheque? And that this type of spending behaviour crosses all salary brackets? Chances are, you’re one of them. According to the Canadian Payroll Association, 60 percent of Canadians live the pay-to-pay cycle and cannot put money away for their retirement.

By Mary Montserrat-Howlett

Even a raise or a bonus doesn’t seem to make up for our spending patterns. Our immediate inclination to upgrade when we “have the money”—whether it’s a new car, better phone, or faster computer—proves that having more money often only diversifies our spending. Whether you’re struggling to make ends meet or living frivolously beyond your means, here are some tips to shatter the pay-to-pay cycle—for good.

Tags: pay check

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Published in : Home & Garden » Money
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1 comment

    I will not rent movies. Borrow from the library.

    Submitted by Yasmin on Thu. 2012-02-16 11:02am

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