Why You Are Broke-6 Reasons You Have No Money
Why You Are Broke-6 Reasons You Have No Money
You live paycheck to paycheck and find it hard to get ahead. You blame your job not paying you enough or you blame others in some form. Everyone but yourself creates this world in which you have no choice but to spend all your money to be broke. Everyone wants to have money but not everyone wants to have money if that makes any sense at all (it does to me). What I mean is people without money will not own up to why they don't have it. You can always make more money but that will only be more money to spend until you are broke so that's not the problem. Below are some reasons why you are broke and see if some or all these reasons apply to your situation. 1.
You Don't Know How to have Fun on the Weekends without Spending-
Those killer weekends can do plenty damage to your finances if you are not careful. Whether its shopping at the latest weekend sale at the mall, drinking shots at the bars, eating at restaurants, or dancing the night away at a club, you are always doing at least one of those activities which may make you pockets a little lighter by Monday.
You just went shopping last weekend now you are going again this weekend? What about that bar you always hit up or the club? Why don't you just drink at home while it's cheaper with some friends? Trust me there are ways to have fun without spending a dime or spending very little. When was the last time you went to the park and just enjoyed life outside? There is nothing wrong with catching up on that book you bought ages ago and never finished.
2. You Don't Track Your Money-
Seems a little obvious but many people refuse to track their spending. In the past when you carried cash, you were able to just pull out your wallet or purse and count how much you have left. Today, debit cards rule how you spend your hard earned cash and many don't take the time to check their account activity. Try using cash for one pay period by withdrawing what you think you need until payday for everyday expenses. Once the cash is gone then that's it until payday. That way you will have a visual indicator of you money at all times and maybe skip out on at least one of those Starbucks coffees. Debit cards will not warn you when your money gets low so you need to find a way to watch what you spend. Matter of fact, not tracking your spending may cost you money you don't even have. Banks love when people don't track their spending and overdraft funds. If that happens you will be charged a fee for your lack of knowledge and you will be deeper in that hole you just dug for yourself.
3. You Can't Prepare Your Own Food-
The best food for your money is the food you cook for yourself. I like sushi and there is no way in hell I will attempt to prepare it myself so I understand you can't prepare everything you enjoy to eat. But eating out all the time instead of making your lunch can place a nice dent in your checking account. When you hit the grocery store, buy in bulk food that doesn't spoil in record times. Take chicken for example and think about the endless dishes you can make with chicken. If you bought a bag of frozen chicken at $8.00 you can make chicken salads, chicken and rice, BBQ chicken, and even chicken tacos at home assuming you have the other ingredients at home. That's four different meals plus you can prepare them exactly how you like them instead of feeling shorted at some restaurant. If you seriously can't cook there are some options. If you bought the items to make turkey sandwiches, you could make your lunches for work for a week and it would cost you around $6. What if you went to the local sandwich shop if you bought a sandwich from a deli ($5) for those same 5 days you would have spent $14 more dollars that you could have used elsewhere. Buying readymade entrees save you money also. There's usually enough for more than one serving so leftovers can be tomorrow's lunch or tomorrow dinner. You know what you enjoy eating so why not learn how to prepare it yourself. You will save money in the long run.
4. You Have a Terrible Habit-
Your habit(s) can include smoking (cigarettes or Mary Jane), drinking whatever you like to drink (alcohol or even Starbucks), or some drug. It could also include video games, magazines, and comic books. Pretty much anything you feel you can't live without and you would spend your last dollars on. That is what makes a habit a terrible one. For starters, if I just described you then professional help might be needed. Second, the amount of money you will save will amaze you. Not only will you save money, you will become healthier in the process. An all around improvement on your health and your finances is the ultimate goal. There's a difference between wanting a "want" item and needing a "want" item. I'm not here to judge but with that said; you should never reach the point of dependency of something of the sort.
5. You are not willing to Budget-
No matter what, you just refuse to budget. You swear up and down you have no wiggle room when it comes to your finances but you have never tried to create a budget. You hear all the time from financial gurus that creating a budget is one of the first steps to eliminating debt and building savings. If you are not willing to sit down and write down all your monthly expenses then you must love being broke. There are plenty of websites and books that can help you form a budget. Mint.com is an excellent site that is secure and will pretty much do all the work for you once you input your information. You can also receive messages via text when you go over the budget you made for yourself. Any little bit helps when you are trying to reverse your financial health. Ask anyone who has turned their financial situation around will tell you they created some form of a budget. Why not try it?
6. You Are Use to Being Broke
This one is the biggest reason you are broke. Living paycheck to paycheck is almost the American way with the way we use credit and spend the money we do have. If this is your way of life I am not surprised After all, that's why you are always broke. Let's say you worked some overtime and received a fatter paycheck than normal. You probably say to yourself, "Hey I have extra money to blow!" Instead you should be saying, "Hey I should take advantage of the extra money and deposit it in my savings account or put it on a bill to help myself rid of it quicker!" What is wrong with having money left from your previous paycheck while payday is approaching? Nothing at all, but some people are so used to having nothing but their paycheck to help them survive until the next one that they accept that lifestyle. The broke lifestyle programs your mind into thinking since you are not starving or homeless then it must be okay. You cannot save money with this mentality because it is the complete opposite of how you should be thinking if you want to change your financial well being.
Time to Change If you gotten this far into this article, you want to change your money situation. Hopefully you can recognize some of these reasons as your own and maybe you can change for the better. Looking at numbers is not the only reasons you are broke.Look in the mirrorand ask yourself why am I always broke and what can you do to change that. Then and only then will you start to head in the right direction.
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