The correct spelling for "livilihood" is actually "livelihood", which refers to the means of supporting oneself. To avoid misspelling, it's important to remember that the word begins with "l-i-v-e", followed by "l-i-h-o-o-d" and not "l-i-v-i-l-i-h-o-o-d". Proofreading and utilizing spell-check can also help prevent this common error.