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Monday, 28 November 2016

6 Probable Reasons Why You Are Always Broke

Worldwide, it now appears that many people are just scraping by financially. Even those not technically classified as poor are just managing to get by financially. The sad result is that many of us are always walking around broke even if we earn regular incomes. Somehow, for most people, that income just isn’t enough to allow them live the kind of life they will like to live. Here now are some of the probable reasons why.

01. Poverty comparisons. If you always think that your financial situation is better off than someone else who maybe starving, that does not make your own financial situation any better. What you are doing is simply trying to make sense and justify your financial situation by finding others that are worse off than you are. That in a way explains only your own situation and can leave you real broke while thinking that you are better off than some other persons.

02. Financial recklessness. The habit of spending money on things you don’t need and can’t even afford is one common form of financial recklessness that may leave you broke most of the time.

03. Economic illiteracy. If you are always broke, chances are, you are economically illiterate. It means you either spend money without giving a serious thought to the value of money and the wide range of uses it can be put or you are just taking money like any other commodity that is expendable. That is economic illiteracy and it can leave you real broke most of the time.

04. Over-dependence on paid employment. Most people who are on paid employment live from paycheck to paycheck and they are always broke. These are people who work 9-5 daily and they are always looking forward to the next paycheck. If you are unable or unwilling to engage in activities that will allow you earn additional income alongside your paycheck, you will always be broke.

05. Trying to live like the Joneses. This is one form of financial recklessness that can leave you broke all the time. Trying to live exactly the way your neighbor is living is reckless. Doing things with your money exactly the way you see your neighbor doing them is not on too. The earlier you come to the reality that you are not Mr. Jones, your neighbor, the better for your finances.

06. Financial apathy. If somehow you become apathetic about your finances, you will always be broke. There is no way you can have money if you don’t pay attention to it. It helps to admit to where you are financially and start paying attention to your money. Acting like there is no problem doesn’t make the problem go away, it makes it worse. Money issues are so very serious issues which no one who wants to avoid being broke most of the time can afford to ignore.

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