Do you live paycheck to paycheck? Or do you know someone who is living paycheck to paycheck to paycheck? I am sure you do. Living paycheck to paycheck simply means that someone does not have any money until he or she is paid next time. They count the hours, the days before they are paid. They may even borrow money before their payday. They cannot afford to purchase anything if they need it, or pay for emergencies that require money.
When they are paid, their money is gone right away, and they wait for the next paycheck again. Now you know why predatory lenders are still in business and are making good profits. Some of the reasons why people live paycheck to paycheck are low-paying jobs, lack of budgeting, excess spending, and no financial planning.