Financial advisor named the main reason for life "from paycheck to paycheck"

Nikita Konshin, a financial adviser, investor, and entrepreneur, told Izvestia on January 21 why life "from paycheck to paycheck" often leads to credit dependence and what steps help break this vicious circle.

According to him, modern man is under constant pressure of consumption. Advertising and marketing create the feeling that new purchases are not a desire, but a necessity, while loans become a quick and familiar way to close any financial gaps. As a result, debt gradually normalizes and is no longer perceived as a risk.

"The desire to match others and the instant gratification of shopping form an addiction. A person takes out a loan, experiences short—term happiness, and then stress due to debt. In order to withdraw it, a new loan is issued, and this creates a vicious circle where most of the income is spent on debt servicing," the expert said.

He advises starting with a full cost fix. Detailed accounting during the month allows you to see the real picture and identify leaks that can reach 10-20% of income. Next, it is important to divide expenses into mandatory and habitual ones: often significant amounts are spent on subscriptions and services, the value of which has long been lost.

Money days of December 2025 – January 2026: when to buy, invest and change jobs

A month will provide a rare opportunity to lay out a financial strategy for two years ahead.

According to Konshin, the credit burden requires special attention. High-interest loans can often be refinanced by reducing monthly payments and the overall level of pressure on the budget. In difficult cases, he recommends contacting professional loan brokers to build a more stable debt repayment scheme.

In parallel, the expert advises forming financial funds. Part of the income should be spent on investments and creating an airbag, part on education and professional development, and part on personal pleasure. It is important that joy and development are not financed by debt, the financial advisor emphasized.

He concluded that credit dependence is not a verdict, but a consequence of financial habits and thinking. Financial freedom does not begin with a large amount in the account, but with the decision to stop living from paycheck to paycheck and take control of the money.

Yevgeny Khodchenkov, an investor and founder of the League of Investors investment club, said on January 9 that the main financial mistake of Russians was not having a plan for spending money. According to him, many close the necessary tasks, but do not build a spending plan for the future. Because of this, people start making emotional purchases and making questionable investments. Khodchenkov recommended making a simple financial strategy to understand what and how much money is being spent, what is better to invest in, and how much can be saved.

All important news is on the Izvestia channel in the MAX messenger.