I’m a Self-Made Millionaire: Do This 1 Thing To Stop Living Paycheck to Paycheck

Core Insights - A recent GOBankingRates survey indicates that 34% of Americans live paycheck to paycheck, with 18% having no savings, complicating their financial situation [1][2] Group 1: Importance of Cash Flow Cushion - Financial coach Bernadette Joy emphasizes the necessity of a "cash flow cushion," recommending that individuals maintain at least one month's worth of expenses in their checking account to avoid financial stress [3][4] - This cushion helps prevent overdraft fees and allows for more confident financial decision-making, moving away from desperation [3] Group 2: Building the Cash Flow Cushion - To establish a cash flow cushion, individuals should calculate their essential monthly expenses, including rent or mortgage, utilities, food, transportation, and health expenses [4] - Joy suggests reallocating savings or adjusting budgets to prioritize building this cushion, and maintaining it is crucial once established [5]