Are These The Reasons Why You Are Always Broke?

Are These The Reasons Why You Are Always Broke?

In a perfect world, you would have a money tree growing in your back garden. You would have no pesky bills or debts to pay. And your bank manager would personally top up your bank account every time it runs low. But sadly, we aren’t living in a perfect world. There is no money tree. We do have financial demands. And we are responsible for our own bank accounts. It’s a reality.

However…

We can make life easier for ourselves. If you are continually asking yourself the question, ‘why am I always broke?’ know this: You might only have yourself to blame. Consciously or unconsciously, it’s your relationship with money that sometimes plays a factor with the money (or lack of it) in your pockets.

So, are these the reasons why you are always broke?

Are These The Reasons Why You Are Always Broke?

Reason #1: You Are Bogged Down By Debt

We aren’t blaming you for the debt you are in; in some cases, it may be through no fault of your all. However, if you have taken out one too many credit cards or bank loans, and default or only pay off the minimum payments each month, then you are going to struggle to get out of the debt pit. You will be forever paying off the interest on your cards and loans, and that is basically a waste of money that could be better spent elsewhere.

Tip: You need to get out of debt as soon as possible, as this might finally increase your spending power. We aren’t saying it’s easy, but there are steps you can take. For starters, you could speak to a debt charity for qualified advice. You might also consolidate your debts into one easier to pay monthly payment. Your bank can talk you through your options, but you might also consider consolidating your debts onto a low-interest credit card from CardGuru. And you might start looking for ways to pay off more of your debt each month, perhaps with the money you have saved with the other tips we have for you below. Debt sucks, so take action today!

Reason #2: You Are Lazy!

Sorry to be so blunt, but ask yourself these questions. Do you use your car to travel short distances? Do you opt for regular takeaways because you can’t be bothered to prepare your own meals? Do you stick with your regular utility company because you can’t be bothered to do a price comparison check online? Are you content to sit in front of the television for most of your downtime, burning electricity because you refuse to get off your lazy butt? Laziness could be costing you money, so if you ever wondered why you are always so broke, you might only need to look at your daily habits for the reason.

Tip: Do you really need us to tell you what to do? Okay, so if you can’t be bothered thinking for yourself – you really must be lazy – counter what we said above. Stop using your car for journeys where your feet may be better used. You will save yourself a fortune on fuel. Remove your favorite take away from speed dial, and learn how to cook some easy recipes for your mealtimes. Stop paying more than you should on your utilities, and use an online comparison site to find a better deal. And turn off the television once in a while. Get outside and do some exercise. Read a book. Play games with your kids. Do anything other than sitting on your derriere 24/7. Your waistline and your bank balance will thank you for it.

Reason #3: You Aren’t Earning Enough Money

Assuming you are living a lifestyle that isn’t wasteful, and you are still struggling to make ends meet, then you may not be bringing home enough money each week. There are ways you can save money around the house, but even then, if you are still finding that money is tight, you do need to take action to help yourself.

Tip: We guess our first question is this: Should you change job? If your current position isn’t paying you enough, is it time to rethink your career choices? If you’re not enjoying your current job, the change will have both personal and financial benefits. Or could you ask for a pay rise? Could you work towards a promotion? You don’t have to leave your job if you can do either of these two things. You might also look for ways to boost your income. There are loads of survey sites online that will give you a little bit more money to play with each month. Visit them instead of watching television in your downtime. You might also be able to take on a side-hustle. You might make money pet-sitting or childminding, as examples. And there are ways to make a passive income, such as renting out your garage space or driveway. Explore your options, and rather than put up with a lowly income, actively pursue ways to make some extra cash.

Are These The Reasons Why You Are Always Broke?

Reason #4: You Live An Expensive Lifestyle

If this is the case, then you probably are living wastefully. You might be a slave to brands, for example, always buying the top brands in food and fashion, instead of looking for cheaper alternatives. When you socialize with your friends, you might frequent those bars and diners where food and drink are massively overpriced. You might like to decorate your home with the finest things, from pieces of furniture to paintings to adorn your walls. For these and other reasons, you might be living a lifestyle that is more expensive than what you can afford. While you might argue that you like the finer things in life, you are doing yourself a disservice if you can’t afford to match your tastes.

Tip: Do we really need to spell it out for you? Stop spending!!! If you can’t afford the lifestyle, you need to curb the temptation to buy things you can’t afford. When you are in the supermarket, consider buying your usual items for less, as non-branded items are often very similar anyway. Don’t shop in high-end fashion boutiques. Instead, visit those stores that don’t cost the earth, or shop online at these websites, which will help you to dress for less, without skimping on quality. When you are out with your friends, find cheaper places to eat. There are loads of (almost) free things you can do with your time too, so don’t always assume you need to spend money to have a good time with your mates. You might go for a picnic in the park, for example, or have a girlie night at home, with a cheap meal and a movie. And stop buying stuff! While there are things you should buy for your home, there are probably loads of things you don’t need, so avoid shopping when you’re skint. And use these low-cost decorating ideas instead of breaking the bank everytime you are in the mood to give your home a makeover. Be wise, be frugal!

Finally

So, we ask again: Are these the reasons why you are always broke? If so, you know what you need to do. Make the relevant changes in your life, and you will be one step closer to a perfect world.

You will have more money to spend on yourself. You will have less headache with debt and empty pockets. And you will have a bank account that is healthy, without the aid of an over-generous bank manager (if only there were such a thing).

In short, if you take action in your life, you should never be broke again. Good news, right? Do what you need to do today to turn that into your reality!

Thanks for reading.

*This post is collaborative content.

About Dawn McAlexander

Dawn is a full time travel and lifestyle blogger. Besides Cheap Is The New Classy, she also owns and writes for EatPlayRock.com, an entertainment site. Her interests include traveling, home decor, DIY projects, organizing her home and enjoying a nice cup of coffee {or two}. She currently resides in North Carolina with her dog, Daisy.