You just can’t say no
Saving is the key to not being broke and having enough money for your needs at all times. But you cannot save if you keep going out with every friend who asks you. Someone will ask you out for drinks, some for a game, others for a movie and before you know you are hosting parties at your home every week and you have no idea how that happened. Yes, you might be an extrovert and completely outgoing, but try to limit your everyday friend circle to a few close friends whom you can go out with twice or thrice a week without ending up being broke.
You have a really carefree attitude towards life
Packing up stuff and leaving only looks fun in the movies, it’s not practical. You can’t just run once you think everything is falling apart, especially when you’re broke. The world runs on money and if you think anyone is going to pay for your chores and impromptu trips other than yourself, you are mistaken. You can sure have that beautiful, spontaneous life that you day dream about but you have got to save for it.
You have no control over your shopping spree
It is good to be impulsive sometimes, but while you are shopping, it’s not a good idea. lf you have a closet full of clothes and shoes just lying around like that at home (which all women do), don’t just impulse buy more clothes to stuff into that same closet. If you have just started with a job and you are still figuring out and settling, it is okay to not buy expensive stuff for a while.
Cater to your needs and not to your wants. And it’s not just women but men too who spend their money on useless things especially when it comes to buying a car and they will always keep their hands on the one they really can’t afford. Don’t take huge loans and get into a credit card debt only to regret it later. Pre plan your expenses and think twice before buying something, asking yourself if you really need it right now.
You are always found hanging out with your broke unsuccessful friends
Even if you had a decent, well-paying job and you are wondering why you are getting broke every month, it’s probably because of the kind of people you hang out with. Broke people are usually unhappy and they will spend all of their time somewhere outside, partying meaninglessly every night and consuming a lot of alcohol. As it happens before you realize, you are becoming just the same.
You keep lending out money
Your broke friends keep asking you for money and you keep lending it to them. Then you go party on the same money you gave them and you never get it back. Yes, they are your friends but you cannot keep making the same mistake again and again because you can’t say no to them and go broke like them. Do not lend money to any one unless they are falling apart and really need your help. And most importantly, always keep a track of how much money you have lent and to whom. Keep a small notepad for the purpose because if you don’t know who owes you how much money, you will never get it back.
You are too nice
One of the reasons why you’re broke might even be that you are too nice to everyone around you. Yes, being nice is a good quality but it is a cunning world and if you don’t be a little clever, they will keep using you. It might be polite to offer to pay the bill once or twice if everyone does so once in a while but you don’t have to get all of the bills every time. Help people with everything except if it involves money. No matter how much they promise, they never pay on time. They will keep procrastinating and you will keep saying it’s okay and you won’t have enough left for your own self.
You don’t have a habit of saving
Saving is really more important than you think. You need to have a savings account for yourself if you don’t already have one. Yes, you might have seen it in movies and read it in books that life isn’t that long after all but if you still want to spend it comfortably don’t you? So stop being lazy, you have to work to look after yourself. Everything is not just going to magically fall into place and fill up your bank accounts. Make it a regular habit to put a part of your salary aside for savings account every week or every month so that you never have to go broke again. Life is full of ups and downs and you never know what you might have to face next.
You don’t have the necessary insurances
One of the reasons you might be finding it hard to make it on your own might be because you don’t know you ought to have insurance. The most important of all is medical insurance. You need to go to the doctor quite a few times in a year. If you are paying the bills straight out of your pocket, you are going to get broke sooner or later. Although medical insurance is the most important but if you own a house or a car, you must get that insured too. Repair and servicing takes up way more money than you expect.
You have a bad habit of paying all your bills with credit cards
Credit cards are meant to be used when you are not carrying a huge amount of cash with you and most you use it to spend the amount of money you don’t even have in your account on meaningless things. Almost everyone has more than one credit card. And with time you must have made it a habit to purchase everything with your card. It’s not the heavy transactions you need to worry about but the huge number of small transactions you make on a daily basis. When your credit card bill shows up at the end of the month, it happens to be more than what you earn. From now on, use credit card less and pay all its bills on time. If the bills keep piling up, you will get yourself into a huge debt.
You don’t make a monthly budget
Even the richest people plan their budget, that’s why they are rich. Keeping all your income sources in mind, you must have a rough idea of how much of it you have to spend. There are bills to pay, groceries to buy and trips to take and it all has to be thought of in advance. If you find it hard to make a monthly budget, start by making a weekly budget and try not to spend a penny over the budget so that you learn self-control.
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