Debt-Free Dad Reveals The 5 Simple Habits That Stopped Him From Living Paycheck To Paycheck
Changing your situation starts from within.
PeopleImages.com - YuriArcurs | Canva Pro Living paycheck to paycheck can feel like a discouraging, never-ending cycle. It’s easy to get stuck in, yet feels impossible to escape.
Many factors contribute to getting trapped into this hamster wheel lifestyle, but oftentimes, we have more control than we think.
A debt-free dad revealed the five simple habits that stopped him from living paycheck to paycheck:
Brad Nelson, who goes by @debt_free_dad on TikTok, uses his social media platforms to share finance tips and advice for individuals seeking to get out of debt.
“Here’s five things I did to help end paycheck-to-paycheck living and has also helped me remain debt-free now for 11+ years,” he said. “These five things really don’t have too much to do with the dollars and scents of actual money, but they make a huge difference in your success and actually getting out of debt.”
1. He realized he was the problem
“I was the reason I was living paycheck to paycheck; I was the reason that I was broke,” Nelson confessed. “It’s really easy to take the victim mentality approach and point the finger at everything else that’s going on in the world.”
While several large-scale factors, like inflation, may be out of our control, the dad expressed how his circumstances only began changing for him once he was willing to take responsibility for everything he could control.
It’s not productive to blame yourself for your financial stress, as so many people are struggling right now. Rather, take accountability for your actions and recognize that money is meant to be a resource that we grow, not chase after.
2. He created short-term and long-term goals
When it comes to ending paycheck-to-paycheck living and growing your income, having specific short-term and long-term goals is essential as you want to know you are working towards something.
Some short-term goals include researching options for additional sources of income, asking for a raise at work, or learning how to budget to organize your finances. Long-term goals you can aim for could be paying off a credit card, student loans, or your mortgage.
“No matter your goals, short-term or long-term, always ask, ‘Why?’” said Rachel Cruze, a certified financial coach on TikTok. "Knowing why you want those goals is key."
Whatever lifestyle you aim for, make sure you’re evaluating your intentions behind your goals so you can create a life that meets those needs.
3. He stopped caring about what others think
“It’s amazing to me how many people you surround yourself [with who] will dictate how you spend your money, how you manage your money, based on how they think that you should live your life," the debt-free dad expressed.
If there's one thing most people can relate to struggling with at some point in their lives, it's money. With that being said, it's no one's place to judge others for circumstances they are trying to change.
As Nelson pointed out, seeking approval from others will only keep you from focusing on accomplishing your individual goals. While some people may genuinely be trying to help when suggesting advice, don't allow others' judgment to jeopardize your ambition. To truly change your situation, it has to come from you.
4. He focused on the daily small steps
While it's essential to have specific goals that you are working towards, don't let the pressure to achieve each one overwhelm you. Have a plan, but remember to stay present, focus on the small steps first, and take it one day at a time.
"I began to realize, especially as I started getting out of debt, if I looked at the big picture, if I looked at the mountain of debt I had to overcome to get out of debt, it was too overwhelming," Nelson shared. "I would self-sabotage because I would keep thinking that it's going to be impossible to get myself out of this situation."
Geber86 | Shutterstock
Instead, he focused his attention on the more achievable small steps and recognized his progress along the way. Remember that you are only one person — you aren't meant to achieve success overnight. It's supposed to be a hard-working process that will fulfill you in the end.
"I can make this progress, I can pay off that little credit card, I can save up that small amount of money," he said. "And slowly but surely, those small little steps turned into giant steps over the years."
5. He let his ego go
Nelson explained that this last habit can be particularly challenging to overcome, saying it kept him "stuck" for a long time. Eventually, he realized he needed to let go of his ego and the internalized "anger bias" many of us have when it comes to money and personal finance.
"That was probably the biggest thing to break more than anything is just to let all of my feelings and beliefs about money, the same feelings and beliefs that honestly were keeping me broke," he said candidly. "Let that stuff go."
He explained that he had to be vulnerable with himself and acknowledge that he didn't have everything figured out. He recognized that he wasn't approaching his circumstances from the right mindset, and that's OK. We aren't taught how to be financially successful, but we can learn how to be.
"Go out and seek out individuals who are doing it the right way, and be willing to accept those ideas and implement them into [your] life," he advised. "Since then, I have transformed my entire financial life and my future."
Achieving financial success is possible for anyone.
Remember that no one is perfect, and we'll all experience our fair share of challenges throughout life, money being a primary one.
But rather than allowing yourself to become a victim of your circumstances, know that you are capable of accomplishing anything you desire. You just have to adopt a positive and faithful mindset and take the right steps to get there.
There are always going to be financial challenges throughout life, whether you're responsible or not. But the way that you choose to approach these challenges will determine how they affect you.
Francesca Duarte is a writer on YourTango's news and entertainment team based in Orlando, FL. She covers lifestyle, human-interest, adventure, and spirituality topics.