The Drag of Living Paycheque to Paycheque

Financial stability is a dream many people share. The concept of buying food or clothing without much worry of the impending bills seems simple, but not many people can afford this dream. According to CBC, a survey in 2017 indicated that nearly half of Canadian workers live paycheque to paycheque. Whether due to debt, life situations, or spending habits, being able to save for retirement or future investments may seem impossible to some. There are many ways to help set aside some much needed money, however.



One tip is to be careful when accepting employment. This may not be as much of a problem if you’re in a casual stage of your work life, but if you’re looking for a career-maker, it’s often not wise to jump at the first job offer you receive. Things can work out in the end, but sometimes an individual might accept a job right after the first interview, without further researching the needs of the position, the options available, or the company itself. This can lead to quitting after only a year or so, and therefore missing out on potential pay raises, promotions, and merit within the job market, which would help increase financial stability.


Another trick is the age-old parental nag of simply cutting back on unhealthy spending habits. Everyone has read the online articles about how much money a family can save by cooking more at home, limiting alcohol consumption, or cutting back on vices, but why are these cliches so common in the advice section of a blog? Probably because putting these cuts into practice usually works! Even if it’s as small of a change as hitting up the casino once a week instead of three times a week, you’ll see the build-up as time passes. After all, some people aren’t as willing to outright cut a habit cold turkey, and that’s okay!


Finally, if neither of these options work for you or your lifestyle, you could consider taking up extra work. It can be surprising what a good supplement a side hustle can be. There are many options out there, from requesting extra hours at a current job, to making a beloved hobby a money-maker, or even picking up shifts with a staffing agency. Places like our company, Stellar Culinary Personnel, allow an individual to work around their schedule, even if that schedule is full-time. Plus, working with an array of clients and individuals can lead to some valuable work assets, such great networking opportunities or even potential long-term offers!


Living paycheque to paycheque is difficult, stressful, and draining, and it’s unfortunately a common side effect of adult life. It can make saving up for future events or dreams seem impossible. However, with a bit of discipline and patience, there are many ways to set aside small amounts of money. And while a small amount is not nearly as nice as a large amount, that small will grow right under your nose and, before you know it, it will be large. As the saying goes, “The only way you will ever permanently take control of your financial life is to dig deep and fix the root problem.”

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