You know the feeling — you’re scrolling through social media, and someone your same age just bought a house, adopted a golden retriever and casually remodeled their kitchen all in the same week. Meanwhile, you’re wondering whether you can stretch your last $23 until payday by surviving off ramen.
Money, apparently, is a thing people have. But how? Between rising costs, inconsistent income and the eternal mystery of where the heck your paycheck actually goes, it’s easy to feel like you missed out on some crucial adulting class.
Read Next: 3 Signs You’ve ‘Made It’ Financially, According to Financial Influencer Genesis Hinckley
Check Out: Clever Ways To Save Money That Actually Work in 2025
If you’ve ever asked yourself whether you’re doing it wrong, welcome. This guide is for the financially confused, the money-curious and anyone who’s ever panicked at the checkout line after seeing their crazy bill.
Also see the essential components of a solid financial plan.
Many years ago, Andrew Lokenauth, money expert and owner of Fluent in Finance, discovered that his seemingly wealthy neighbor was actually drowning in credit card debt.
“He had the fancy car and designer clothes, but it was all smoke and mirrors,” he said.
Lokenauth noted that a significant number of Americans are living paycheck to paycheck, including people making over $100,000. In fact, Gagan Saini, CEO of We Buy Houses in Central Valley, said he meets families earning $150,000-plus who live paycheck to paycheck because of lifestyle inflation, while others making $70,000 build substantial wealth through strategic habits.
The difference, Saini explained, isn’t always about how much you make — it’s about financial education, money psychology and opportunity access.
Learn More: I’m a Financial Advisor: My Wealthiest Clients All Do These 3 Things
Lokenauth started tracking every single dollar he spent. While it wasn’t enjoyable at first, he stuck with it. Cutting recurring subscriptions, for example, can alleviate your wallet significantly.
Another important point: Get real about your “fun money” spending. Most people go overboard with these funds without realizing it until they can’t pay their electric bill at the end of the month.
“The biggest game-changer for me was adopting the 50/30/20 rule,” Lokenauth said. Here’s a breakdown of what this looks like: use 50% of your income for necessities, 30% for wants, and 20% for savings and debt.
“It’s not perfect — sometimes life throws curveballs — but it’s helped me build $5,000 in savings over eight months,” he said.
