Unlock Financial Freedom: 7 Life-Changing Strategies to Break Free from Just Scraping By

Financial stability is a state of financial security that enables individuals and families to meet their basic needs, achieve their goals, and withstand unexpected financial setbacks. However, achieving financial stability is easier said than done, and many people struggle to achieve this goal. The daily pressures of life, such as bills, rent or mortgage payments, and other expenses, can quickly add up and leave people feeling overwhelmed and stressed. Furthermore, unexpected expenses, such as medical bills or car repairs, can push people into debt and further jeopardize their financial stability.

In addition, many people lack financial literacy, or the knowledge and skills needed to make informed decisions about their finances. This can lead to poor financial decisions, such as overspending, taking on too much debt, or failing to save for the future. Without a solid understanding of financial concepts, such as budgeting, saving, and investing, it can be challenging to achieve financial stability.

Despite these challenges, achieving financial stability is possible with the right mindset, habits, and strategies. By making a few changes to your lifestyle, such as creating a budget, building an emergency fund, paying off debt, and increasing your income, you can take control of your finances and work towards a more stable and secure future. In the following sections, we will explore these strategies in detail and provide you with the knowledge and tools you need to achieve financial stability.

Create a Budget and Stick to It

The first step in achieving financial stability is to create a budget. A budget is a plan for how you will spend your money each month.

Create a Budget
Create a Budget

Begin by listing all of your income sources, including your salary, any freelance work, and investment income. Next, list all of your expenses, including rent/mortgage, utilities, food, transportation, and any other bills you may have. Once you have your income and expenses listed, subtract your expenses from your income to see how much money you have left over each month. If you have a surplus, you can use that money to pay down debt or save for the future. If you have a deficit, you will need to adjust your spending habits to make ends meet. There are numerous budgeting apps and tools available to help you create and stick to a budget. Two of the most popular ones are Mint and YNAB.

Build an Emergency Fund

One of the best ways to avoid just scraping by is to have an emergency fund. An emergency fund is a savings account that you can use to cover unexpected expenses, such as a car repair or medical bill. Experts recommend having three to six months' worth of living expenses saved in your emergency fund. Start by setting aside a small amount each month until you have built up your emergency fund. Several online banks offer high-yield savings accounts with no fees or minimums, such as Ally Bank and Marcus by Goldman Sachs.

Pay Off Debt

pay off your debit - be debt free
pay off your debit - be debt free

Debt can be a significant source of stress and can prevent you from achieving financial stability. Make a plan to pay off your debt, starting with the debt that has the highest interest rate. You can use the snowball method, where you focus on paying off your smallest debts first, or the avalanche method, where you focus on paying off your debts with the highest interest rates first. Whichever method you choose, the key is to be consistent and make regular payments towards your debt. There are debt payoff apps, such as Debt Free and, that can help you create a plan and track your progress.

Increase Your Income

If you find yourself just scraping by, one solution is to increase your income. This could mean asking for a raise at your current job, taking on a side gig, or starting your own business. Look for opportunities to increase your income and take action to make it happen. Freelancing platforms like Fiverr and Upwork can be a great way to find side gigs and build your portfolio.

Cut Expenses

cut expenses
Cust expenses

Another way to improve your financial situation is to cut your expenses. Look for areas where you can save money, such as by cooking at home instead of eating out, shopping for deals on groceries, and cutting back on unnecessary subscriptions or services. There are several apps available that can help you save money, including Honey, Rakuten, and Trim.

Invest in Yourself

Investing in yourself can be one of the best ways to achieve financial stability. This could mean taking a course to improve your skills or pursuing a degree that can lead to a higher-paying job. Additionally, investing in your physical and mental health can also have a positive impact on your financial situation. Exercise regularly, eat a healthy diet, and prioritize self-care activities that help reduce stress and increase your overall well-being.

Seek Professional Help

seek professional help
seek professional help

If you are struggling to make ends meet, it may be beneficial to seek professional help. A financial advisor can help you create a plan to achieve your financial goals, while a credit counselor can help you develop a debt repayment plan. There are also nonprofit organizations, such as the National Foundation for Credit Counseling, that offer free or low-cost financial counseling services.


In conclusion, achieving financial stability requires making changes to your lifestyle and habits. Creating a budget, building an emergency fund, paying off debt, increasing your income, cutting expenses, investing in yourself, and seeking professional help are all steps you can take to improve your financial situation. By implementing these changes, you can avoid just scraping by and achieve peace of mind knowing that you have a plan for your financial future.

We hope that this article has been helpful in providing you with practical tips and resources for achieving financial stability. If you have any further questions or suggestions, please feel free to reach out to us. Thank you for reading!


About the author - Author is a professional freelance writer specializing in creating informative, engaging content for a variety of audiences. This article is meant for general information only and not an expert advice.  Author strives to provide general information and valuable insights to help readers navigate the uncertain waters of unemployment. With a passion for delivering quality, informative content, author is dedicated to helping readers to stay informed on the road to achieve financial stability in their lives. The article contains general elaboration on understanding the reality of financial stability and eventually financial freedom  is not intended to replace professional advice. It's always recommended to seek guidance from a qualified professional in case of specific situations or concerns.

Leave a Reply