Broke-A$$ Brotha Tip #4: Paycheck to Paycheck

Ever wonder how you can get your finances together in such a manner that you no longer have to live paycheck to paycheck? That is something that many a Broke-A$$ Brotha has asked since the Great Recession.  This blog likes to share tips with y'all about ways to increase revenue and decrease expenses ... we call them Broke-A$$ Brotha Tips.

One of two things need to happen if you hope to break the 'paycheck to paycheck' cycle. You either have to increase the amount of money coming into your pockets or reduce the household expenditures until you have a surplus that can be invested to create more income.

All of us Broke-A$$ Brotha (or Sista) types face the challenge of spending less money than we take in. Overcoming this challenge means that we have to stop our desire to "keep up with the Joneses" by purchasing trendy clothes or other luxuries. When you do make a purchase, try to buy stuff on sale or off-season in order to get the best value.

We also need to be disciplined about our spending habits. We need to monitor our expenses closely in order to see where we are spending the most money and then we can cut back accordingly. For example, I eat out too damn much. I love Panda Express ... but, I need to begin cutting back on my black-peppered and teriyaki chicken. How about you? Do you have a monthly household budget that makes sense? Are you limiting the use of credit cards and finding ways to save on taxes so that you can also save money? These ideas aren't sexy ... but, you'll benefit in the long run.