Living Paycheck to Paycheck? Here's How to Break the Cycle

There's a simple word that strikes fear in the hearts of any cocktail-swirling, shopping-loving millennial: "budget." We know that tracking our financial habits is the grown-up thing to do—over a third name saving money as their top resolution of 2016—yet more than half live from paycheck to paycheck. So what does it actually take to break the bad habit?

If the thought of checking your bank balance makes you shudder, financial expert and host of Money Minute Stefanie O'Connell says it's time to shift your attitude. "It's not about sacrificing everything today for the sake of tomorrow, just as it's not about saying YOLO at the expense of your future. It's about making financial decisions with equal consideration for both."

If you're among the masses who struggle to stick to a budget or can't understand why your savings account has stalled, follow these five simple steps to get in the green. Budget-phobes, your new financial future starts here. 

Establish Baseline Spending