AHP Indie Stylist

Indie Stylist Student Edition 2021

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associated-professionals.com 35 or years, I lived paycheck to paycheck in a constant state of fear that one mishap—an illness, car problem, unforeseen expense—would devastate my meager bank account and send me spiraling into debt. It was an awful feeling that limited my ability to enjoy life. I'm not talking about exotic vacations and Gucci bags; I was missing out on simple things: declining dinner invitations because payday was still three days away or skipping happy hours with friends when the tips weren't quite flush that day. Ever put off running an errand purely because of the required gas? The worry and anxiety kept me bound to tracking paydays on my calendar more closely than upcoming holidays. I decided this was not the kind of life or future I wanted, but I felt like there wasn't much I could do about it. I had all the excuses. I was still working to build my clientele as an employee in a commission salon. I negotiated my commission as high as I could, and my prices were set by the salon owner. I was working my butt off to get as many clients in my chair as possible, but I felt there was only so much I could do. I even looked into starting a side hustle, but they had startup costs that I'd have to wait for next payday to afford. As I waited for my next paycheck, I realized something: How do I have this extra money for side hustle startup costs? It dawned on me—I'd been living paycheck to paycheck for the past couple years, but during that time the amount of each check had gone up a bit. If I was making more money, how was I still in the same financial position? I decided this was not the kind of life or future I wanted, but I felt like there wasn't much I could do about it. I had all the excuses. If you are currently living paycheck to paycheck, the amount of your check is not the sole reason for your situation. Think back to what you were making when you first began living this way. Even if just marginally, your checks have most likely increased since then. For me, the paycheck lifestyle was a mindset I needed to consciously reset. When I saw the amount of a check, my brain saw the amount of money I could (and would) spend over the next two weeks. I was so programmed to not have any money left that I didn't notice as the checks grew, so did my spending. Every time I saw money in my wallet, I would think, "Wow I still have money; I'm doing really good!" then promptly spend it. As most people earn more money, they tend to spend more. I believed I was a paycheck-to-paycheck person, so my actions followed suit to make that true even when it didn't have to be that way anymore. If you're currently living paycheck to paycheck and no longer want to be that person, change your mindset. Even if the amount of your check isn't going up, the amount of your bills can go down. The extravagance of your lifestyle can be adjusted. Take action with what you have now rather than waiting for the next raise to set you free. When you begin to earn more money, take the difference and pay your savings account first. Don't add a new bill for the money; think of your savings account as the bill that needs to be paid. Create a budget for yourself. Make a plan for your tips; they are real money—not just "fun money." We can easily make all the excuses in the world, pass the blame like a hot potato, and become so ingrained in the paycheck-to- paycheck lifestyle that we fail to notice it's not our means that are dictating that life. Or we can decide that this is just not the person we want to be. Changing your mindset is just as crucial to changing your financial situation as the number of figures on each check.

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