Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . When your salary finally tips over $100,000, all your worries about living paycheck-to-paycheck should be gone, right? Not necessarily. In fact, 16% of six-figure earners said they have difficulty covering basic expenses, such as food, rent or mortgage and car payments, according to a November 2020 survey by the Center on Budget and Policy Priorities. They’re living paycheck-to-paycheck. How is that possible? Here’s the thing: It doesn’t matter how much money you make if your expenses outweigh (or are equal to) your income. That’s why it’s so important to have a solid plan for your budget. Otherwise, you could end up with no savings and in debt. No matter how much you earn, here’s how to break the paycheck-to-paycheck cycle. Make a Budget and Stick to It It’s no question that the cost of living is going
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