‘I have all the money I could ever need!’ said no one ever. Are you living paycheck to paycheck? You’ve limited your budget, working extra hours, but somehow you still struggle to settle your bills. Not having enough money to pay your monthly bills can be frustrating. What do you do when you’ve tried all the possible means, but you still lack enough money to make ends meet? Try these six tips to help you have a steady financial footing. 

Get a side hustle

When your essential expenditures exceed your income, think about making extra cash. You can think of taking extra hours at work or, look for part-time jobs to offset some debts. Consider investment opportunities like selling secondhand clothes, shoes, or households. 

Thanks to this digital era of the internet; you can try freelancing, data entry, forex trades, affiliate marketing, vlogging, blogging, or graphic designs e.t.c to supplement your income.

Bear in mind that side hustles are never long-term financial solutions.

If you are unable to meet your obligations with your current salary, try looking for a second source of income.

Bear in mind that side hustles are never long-term financial solutions. If you are unable to meet your obligations with your current salary, try looking for a second source of income.

Analyze your spending culture

Generally, two issues can lead to money struggles: high expenses or little income. If you have enough income to cover all your expenses, yet you struggle with bills, re-consider your spending.

Most experts suggest the 50/30/10 general rule where 50% of your salary goes to your basics (food, rent, health, utilities, etc.), 30% on fun like vacations and baby toys, 20% to savings.

Proactively managing your money will make you feel less distressed while spending.

Reduce Debts

Bad debts like credit card debts – unlike mortgages and student loans – always attract high monthly interest rates. You can invest once you’ve settled debts that continuously drain your income.

Research reveals that most people with consumer debt do not know precisely how much they owe. This leads to a blind method of settling debts. Try the snowball method of debt payment whereby you start paying off from the smallest to largest.

Or, an avalanche method where you make a minimum payment on all debts. 

Besides, you can work with your creditors to determine if you qualify for some reduced interest rate or other affordable loan payment options.

For instance, HELB students’ loans offer reduced interest if you can prove economic hardship.

After eliminating debts, have a single credit card for emergency saving.

Reducing your monthly expenses, even by a small margin, has a significant impact on your finances.


Saving can be a real stretch after paying taxes and monthly bills. For example, instead of spending all your take-home salary, you can split your paycheck and allocate it to your financial goal.

Most people think spending comes before saving.

Instead, save for your goals, settle bills, and then consider spending the rest.’ The reality is, as your income grows, other financial demands emerge. This does not mean you save everything. Start small and gradually increase the amount you allocate for savings. 


You must address your basic needs before settling your debts. Ask yourself, ‘what do you want out of your financial life?’ Your priorities should be objective from an economic perspective.

Basic needs like healthcare, housing, utilities, food, and education should be top priorities.

Stick to your budget whilst keeping your priorities in mind to manage your cash flow. This way, you can accommodate emergencies and fluctuating bills. 


Living paycheck to paycheck or relying on creditors can be annoying.

Even if you cannot achieve your goals within a month, think about where you want to be financially and start a plan that will allow you to get there gradually.

Think about long-term changes, find out what you need to achieve your goals and, and get started. If you are planning to change your profession, focus on your interests and what you are naturally good at. If you still struggle despite your good salary, think about budgeting. 

Make good financial practices and daily habits to attain your goals. Side hustles, whether it is a business idea or a part-time job, can help you supplement if your main job can’t cut it.

If you still depend on your salary, find a side hustle that doesn’t take away from your work. Also, when that side hustle is going well, don’t quit your job!

Hang in there until your business can sustain itself for up to 2 years. 

Strategic planning is your mantra to how to survive with less money. We all know money is fleeting, and without proper financial planning and discipline, one can sink quickly into poverty and debts.

Financial discipline is hard, especially when you have less than enough. Being frugal and incorporating saving and strategic planning is your ticket to making economic progress and achieving your goals.

Might take longer, but slow progress is still progress.


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