Canadian Debt Advisors

Living paycheque to paycheque refers to spending your entire paycheque before receiving the next one.
 
This paycheque to paycheque lifestyle can happen at any income level.
 
It generally occurs when:
 
✔️ a budget isn’t being followed
✔️ there isn’t savings set aside for a rainy day
✔️ you're living outside of your means
✔️ an unforeseen loss of income occurs 

Here are 5 ways to avoid living paycheque to paycheque:

1. Create a budget and stay accountable

2. Pre-authorize bill payments to line up with your pay schedule

3. Make regular contributions to your savings account

4. Monitor your bank account to stay out of overdraft

5. Start an emergency fund and prepare for a ‘rainy day’

Curious to know on average what types of groceries Canadians are spending their money on? 💵

Here is a breakdown of the top 5 grocery items we spend our money on. Meat is the biggest player on our grocery list and it may not be because we are buying more meat but with inflation, it is costing us more to buy the same amount of meat we have always been buying.🥩

Want to cut back on your meat purchase? Try vegetarian and legumes alternatives that are rich in protein and fibre ✔️