Who can use this?
Of course, this isn’t going to be feasible for everyone’s lifestyle. Not everyone can separate their paychecks into spending and savings as drastically as this plan. It’s likely that most people will have to use some of the second paycheck to make ends meet. This is an intense savings plan that is not for budgeting beginners. However, the idea is to make the first paycheck go as long as possible. So no matter what your bank account says, try to make your next paycheck go as far as you possibly can. When you make this effort, you will shocked at just how much you save. Keep in mind, this is a plan that is only meant to be done over a short period of time. This is for those who want an effective way to pay off their debt at a fast rate.
How to stick to it:
- Many opt for moving to a small, one-bedroom apartment to save on rent
- Learn to say no to unnecessary purchases
- Plan free or inexpensive activities
- Make extra money working a side-hustle from home
- Create a budget-friendly lifestyle
- Make frugal habits
The “Starve & Stack” method may just be what gets you out of a financial rut. Think of it as a fun challenge to live as minimally as you can for a short period of time. It will be tough, but the payoff will be so worth it!