Reducing the Stress of Living Paycheck to Paycheck (2024)

These tips can help you get out of the two-week money squeeze.

When bills are due before payday arrives, choices may get expensive and painful. High-interest credit card borrowing? Late-payment fees? Hold your breath and risk a collection? If this happens to you, you’re not alone. It can be tough to stay on an even financial footing with everything life throws at you, but there are ways to help reduce financial stress. Here is some advice that may help.

• Learn from others who successfully live paycheck-to-paycheck. Methods include aligning bill days more closely with paydays to minimize cash gaps, negotiating a reduction in healthcare bills, borrowing money from family or friends, or taking side jobs like yard work or childcare. See “Stretching your paycheck to fit your life.”
• Evaluate your spending by wants vs. needs. For example, soda vs. medicine. Keep a want/need spending log for a month or two. Also, check out our article, “Seven tricks to help save money every month.”
• Set aside some cash, even a small amount, in an emergency fund. It may feel like one more expense, but once you have money set aside, it could help reduce stress. Start small, perhaps contributing 5% of one week’s paycheck. Consider setting up an automatic transfer of a small amount from your checking account to a savings account and check out our other advice about emergency saving.
• Take a weekend afternoon to sign up for online tools that can help you cut spending and boost saving. While you’ve probably already squeezed savings from your paycheck, offload some of the work to these tools. Spend Setter^℠ helps set monthly spending limits in the categories you choose.
• Savings Goal Getter^℠helps you set up as many as 10 goals, plus an emergency fund. Every time you use your Huntington credit or debit card, the transaction is tracked against the limit you set for that category.
• Cut the stress that doesn’t help your finances. Scolding yourself for financial missteps could affect other positive steps you’re taking. See, “Advice for When Money Stress Feels Overwhelming.”

Standby Cash^® Access Extra Cash Instantly

We know expected and unexpected expenses can put you in a pinch. That’s why Huntington created Standby Cash^†, a line of credit available to Huntington checking customers. Eligibility is based primarily on your checking and deposit activity, not your credit score. Open it instantly online or in the Huntington Mobile app, and immediately access the cash you need.

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Standby Cash^®is a federally registered service mark of Huntington Bancshares Incorporated.

Spend Setter℠ and Savings Goal Getter℠ are service marks of Huntington Bancshares Incorporated.

^ΩΩStandby Cash is subject to terms and conditions and other account agreements. A 1% monthly interest charge (12% Annual Percentage Rate) will be added to outstanding balances if automatic payments are not scheduled. Available through online banking or the Huntington Mobile app to individuals with an active consumer checking account with at least three months of consistent deposit activity of $750 or more, and an average daily balance of $200 or more. Other eligibility requirements apply. An active or recent bankruptcy or other legal process may disqualify you. Line amount and ongoing availability may vary based on changes to your deposit activity, average daily balance, and number and length of overdrafts on any of your Huntington deposit accounts. When any of your Huntington deposit accounts are in an overdraft status for more than one day, your Standby Cash line may be suspended until they are no longer negative. If 90% or more of the approved credit line is drawn three months in a row, Standby Cash will be suspended until it’s paid to a zero balance. Business checking accounts are not eligible for Standby Cash.

The information provided in this document is intended solely for general informational purposes and is provided with the understanding that neither Huntington, its affiliates nor any other party is engaging in rendering tax, financial, legal, technical or other professional advice or services, or endorsing any third-party product or service. Any use of this information should be done only in consultation with a qualified and licensed professional who can take into account all relevant factors and desired outcomes in the context of the facts surrounding your particular circ*mstances. The information in this document was developed with reasonable care and attention. However, it is possible that some of the information is incomplete, incorrect, or inapplicable to particular circ*mstances or conditions. NEITHER HUNTINGTON NOR ITS AFFILIATES SHALL HAVE LIABILITY FOR ANY DAMAGES, LOSSES, COSTS OR EXPENSES (DIRECT, CONSEQUENTIAL, SPECIAL, INDIRECT OR OTHERWISE) RESULTING FROM USING, RELYING ON OR ACTING UPON INFORMATION IN THIS DOCUMENT EVEN IF HUNTINGTON AND/OR ITS AFFILIATES HAVE BEEN ADVISED OF OR FORESEEN THE POSSIBILITY OF SUCH DAMAGES, LOSSES, COSTS OR EXPENSES.

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