Angela Mae

Sat, Jun 14, 2025, 11:02 AM6 min read

According to numerous reports, about half of all Americans say they live paycheck to paycheck. This isn’t limited to low- or moderate-income households, either. Almost half of those earning six figures feel the same way.

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If you’re struggling to make ends meet and feel like you never have enough money to meet your financial goals — like saving for a down payment or paying off debt — you’re not alone. But your situation isn’t hopeless, either.

GOBankingRates reached out to several financial experts about how to stop living paycheck to paycheck when you earn enough money not to. Here’s what they said.

Sean Fox, president of debt resolution at Achieve, suggested making a spending plan or a budget.

“Most people don’t want to ‘budget’ because it sounds hard, tedious and complicated. It’s not. It’s just a way to understand your finances in simple terms, with an eye on goals you’ve set,” Fox said. “That means taking time to consider what you really want in your life, both in the long run (e.g., retirement, vacations, buying a house) and short run (e.g., a new piece of furniture, clothing, time for your favorite hobby or pastime). Then you can build your spending plan around what it will take to reach those goals.”

No matter how much money you earn, you should always keep track of your spending. It’s all too easy to fall into the trap of lifestyle inflation, something that occurs when you start spending more because you start earning more.

You could be earning $100,000 a year and still have very little to show for it at the end of the month…if you’re not tracking your expenses. Knowing how much money you spend and on what can help you figure out where the problem areas are and fix them.

“Keep a record of every single expense (online and off) you and everyone in your household makes for a couple of weeks,” said Fox. “Most people have some surprises, and are then in a better place to make some decisions on smart spending that’s in line with the budget.”

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The Federal Reserve found that 82% of American adults have a credit card, while over 40% regularly carry a balance. While not a guarantee, if you’re living paycheck to paycheck while earning a decent income, chances are you have some credit card debt, too.