You know you are broke when your bank account has a zero balance. You know you are broke when you reach for your wallet and not even a cent comes out. Now, you need to ask yourself this question; Why are you still broke even when you have a job? To live a full life, you have to first gain insight into why you are still broke. You cannot rely on the same financial practices and expect a different outcome. If you take a good look at your spending habits, it may become clear what is holding you back.
Here are the 10 most common reasons why you are still broke as successful as you are.
1. Your Money is Too Accessible-
2. You haven’t established financial boundaries- It’s one thing to help someone out of a one-time jam. But if you have people who rely on you as their “Plan B” or their financial back-up plan whenever something goes wrong in their life, that’s indicative of a financially abusive relationships.
3. You can’t say No!- You have a problem of wanting to please people and you feel it’s wring to say you can’t help them at times because you are scared they will reject you or turn against you.
4. You have no goals- If you write down your goals and review them regularly you’re more likely to achieve them. Setting goals is easy with the goals worksheet. Use it to write down your short, medium and long-term financial goals, then save them to My Sorted to review later.
5. You don’t prioritize- Prioritizing skills allow you to focus on what is most important. … We all have many things to do, and we never have time and energy to do them all. … to do list, you can mark each of your tasks with “A”, “B”, or “C”, depending on its importance.
6. You are a show off- Definitely be yourself, dont try to show off, and dont be over the top, that can come off as cheesy or trying too hard. Do things for yourself and not to please others.
7. You can’t manage your emotions- Emotional spending occurs when you buy something you don’t need and, in some cases, don’t even really want, as a result of feeling stressed out, bored, under-appreciated, incompetent, unhappy, or any number of other emotions. In fact, we even spend emotionally when we’re happy
8. You spend impulsively on things you don’t need – Although we’re a financial website, we actually think you should spend money … on the things that will actually make a difference in your life. Prioritize what matters most to you, then cut out the rest of the filler in your budget.
9. You can’t manage your debts- Along with the financial worries, struggling with debt often leads to depression, anxiety and stress. Find the best way to manage your debts and always strive to be debt-free.
10. You spend more than you have- Consistently spending more than you earn is an easy way to accumulate debt. To stay out of debt, you’ll either need to find a way to earn more or spend less.
