Why Does Living Paycheck to Paycheck Feel So Hard to Escape?
Feel like you're on a hamster wheel—working hard, getting paid, but always feeling broke right after? You're not alone! Today, we're diving into the illusion of financial stability that many of us cling to while living paycheck to paycheck. Ralph Estep Jr. is here to help us see that this cycle isn’t just exhausting; it's also a trap that keeps us from building a solid foundation for our future. We’ll talk about how recognizing this pattern is the first step towards freedom and how to take small, actionable steps to break free from financial anxiety. Does your financial situation feel hard to escape?
Check out the full podcast episode here
In this heartfelt discussion, Ralph Estep Jr. tackles the heavy burden of financial shame and anxiety that many of us carry. Ralph emphasizes the importance of recognizing this cycle as a trap, not a stable way of living. He shares practical steps, like keeping a financial awareness journal, to help listeners understand their spending habits. This episode is not just about the numbers; it’s about restoring hope and peace of mind. Ralph reminds us that small changes can lead to significant improvements in our financial lives. As we journey together towards financial freedom, we’ll find that we’re not alone, and with God’s guidance, we can break free from the chains of financial anxiety. Join us for this enlightening conversation and take the first step towards a brighter financial future!
Chapters:
- 00:03 - Stuck on a Treadmill
- 01:34 - Breaking Free from Financial Traps
- 03:00 - The Impact of Financial Stress on Well-Being
- 04:29 - Starting Fresh: The Path to Financial Awareness
- 04:35 - Tracking Your Expenses: A Journey to Financial Awareness
- 06:42 - Understanding the Cycle of Fear and Action
Takeaways:
- Living paycheck to paycheck can create a false sense of security that keeps us stuck.
- Recognizing the cycle of financial stress is the first step towards breaking free from it.
- Tracking every expense for a week can uncover surprising insights about your spending habits.
- Small steps in financial awareness can lead to significant changes in your financial future.
- It's crucial to acknowledge that financial issues affect more than just our wallets; they affect our peace of mind.
- Prayer and seeking God's guidance can provide strength and clarity in our financial journey.
Thank you for listening to the Ask Ralph podcast. We encourage you to follow us on our social media pages and rate our show. For more information about the topics discussed on the podcast visit Saggio Accounting+PLUS.
00:00 - None
00:03 - Stuck on a Treadmill
01:34 - Breaking Free from Financial Traps
03:00 - The Impact of Financial Stress on Well-Being
04:29 - Starting Fresh: The Path to Financial Awareness
04:35 - Tracking Your Expenses: A Journey to Financial Awareness
06:42 - Understanding the Cycle of Fear and Action
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Hey, you ever feel like you're running but just not getting anywhere
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like you're stuck on a treadmill?
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Yeah, me too.
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And, and let's be real.
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A lot of us are, we're living paycheck to paycheck thinking we're fine, but are
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we really say we're gonna pull back the curtain on that illusion of stability.
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We're gonna get real.
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About why that next paycheck?
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Well, it's not the answer, and if you're ready, let's dive in.
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Hey everyone, and welcome to the Ask Ralph Show.
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I'm Ralph, your financial evangelist, and this is the show where we
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tackle real financial challenges with a faith centered approach.
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It's all about helping you break the cycle of financial shame with confidence.
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So today we're unpacking the illusion of stability, that false
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sense of security many of us feel while living paycheck to paycheck.
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You know that feeling like you're just keeping your head just barely above
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water, waiting for that next paycheck.
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So why does this matter?
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Well, because it's a trap and I'm here to help you break free from that trap.
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Today, I got this message the other day from Sarah, and this is what she wrote.
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She said, Ralph, I feel like I'm running on a hamster wheel.
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I get paid, pay the bills, and now I'm broke again.
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Is this normal?
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I feel like I'm constantly treading water and it's exhausting.
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I can hear your exhaustion, Sarah.
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Your question is far too common.
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Many listeners feel this way.
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I've felt this way at times myself, and to be very bold here, recognizing the problem
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is the first step towards a solution.
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So you're not alone, Sarah and many people are in this same cycle.
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We think this, we think I'm working hard.
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I'm, I'm doing my best.
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But then the reality hits the paycheck to paycheck cycle
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creates a false sense of security.
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You get paid, you, you pay those bills and you think, Hey, I'm managing it.
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Everything is fine.
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Well, so you think, but you're not building a foundation.
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You're, you're living on a tightrope, and it's a tightrope with a huge
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canyon below and one unexpected expense, and you're in crisis.
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Think about it like this, and no savings, no breathing room.
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This is a really fragile way to live.
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It's like building your house on sand, and then the moments those
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waves come, it all washes away.
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And here's the thing, it's not just about money.
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It affects your peace of mind.
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It affects your relationships, it affects your overall wellbeing.
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You see that constant stress takes a toll.
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It leads to sleepless nights.
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It even health issues.
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It's a huge, heavy burden to carry, but there is a solution.
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Are you ready to reduce that stress?
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Well start by recognizing this cycle for what it is.
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It's a trap, not a stable lifestyle.
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Acknowledge that this isn't sustainable.
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Don't sugarcoat it.
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Be honest with yourself.
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This is the first step towards freedom.
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It's that honesty with yourself.
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And look, I know it's easy to feel overwhelmed, but remember
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this awareness is the first step.
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You're not alone and God is with you.
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See, small steps lead to big changes, and that's worth repeating.
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Let me say that again.
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Small steps lead to big changes.
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So don't, don't beat yourself up for past mistakes.
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Focus on moving forward, because here's a truth bomb.
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We all make mistakes, but if we continue dwelling on them, it's
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not gonna change the present.
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It's only gonna keep you in that cycle of shame that we're
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all trying to break free from.
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Instead, let's look at the present and the future with hope let's
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look at it with determination.
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So here's my action item for today.
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I wanna encourage you to Start a financial awareness journal.
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And for one week I want you to write down every single expense.
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Yes, I said it.
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Every.
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Single.
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Expense.
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Every coffee, every snack, every bill, all of it.
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See, 'cause this reveals where your money's actually going.
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As I always say on the show, what gets measured gets done, and you
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might be surprised just what you find.
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So get a small notebook or, or use a note app on your phone and be diligent.
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And remember, this isn't about judgment, it's about information.
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We need to know where our money is going to make informed decisions.
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Think of yourself as a detective on a mission and that mystery.
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It's your own spending habits.
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Every transaction, every receipt, every unexplained expense is a
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clue waiting to be uncovered.
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Dig deep, follow the trail, and you might just uncover some surprising truths
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about where your money is really going.
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See, here's an example that that daily $5 coffee may not seem like much.
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Over a month, that's $150.
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And listen, that's a significant amount of money that could be used to build an
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emergency fund or even pay down debt.
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See those small expenses they add up over time.
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So how about we pray together today?
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Heavenly Father, we come to you seeking clarity and we
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come to you seeking strength.
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Help us to see the illusion of stability for what it is.
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Grant us your wisdom to break free.
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Lord, give us the discipline to track our expenses and the courage
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to make those necessary changes.
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Lord, we trust in your provision and we ask for your peace to guard our hearts.
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And we ask this in Jesus' name.
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Amen.
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So remember this awareness is key.
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Start that journal and recognize the cycle.
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Don't let fear paralyze you.
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Take that first step.
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Now tomorrow we'll move into the root causes, why we get stuck in this cycle
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and what we can do to break free.
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So thank you for being here today.
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Don't forget to subscribe to our newsletter@askralphpodcast.com slash
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newsletter, and as I always end this show, stay financially savvy and
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let's keep moving forward together.
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And may God bless you abundantly today.
