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Here's Why You Are Always Broke

You can make all the money in the world and still have those days where you just do not have extra money lying around, been there, done that.

The sad truth is that most people are broke, even people who make a lot of money. They're just not good at managing their finances, so they get into debt and have to work really hard to dig themselves out. But if you're reading this article right now, I want you to know that there's hope! If you follow my advice and start saving your money from day one of your adult life, then you could be financially secure by the time you retire. You just need a plan! Here's how:

You don't track your spending habits.

If you want to be able to control your finances and manage your spending, you need to track it. Tracking your spending helps you see where your money goes on a day-to-day basis so that you can make adjustments or find ways to save. It also helps prevent impulse purchases by forcing you to think about whether or not the item is worth the price tag before purchasing it. There is no one way of tracking your spending, but here are some ideas:

  • Create a budget spreadsheet in Excel or Google Spreadsheets and input all of your expenses into it every month. Then compare these numbers with how much money actually went out for each category (housing, utilities, transportation). This will help show how closely aligned they are with what was budgeted for them. If there's not much alignment (e.g., housing costs more than expected), then this could indicate that something needs adjustment (e.g., finding cheaper housing). Or maybe it shows that there's room for improvement in terms of being more frugal with certain categories such as transportation—perhaps taking public transport instead of driving every day would save money over time even though it might cost more upfront.* Keep track of cash purchases made on credit cards by making a note next

to those entries when they're posted on statements; this way they'll appear grouped together under one heading at the end of each month.* Keep receipts from ATM withdrawals after making them so that their totals match up when reconciling bank accounts at night (or whenever else).

You don't pay attention to your credit score.

You don’t pay attention to your credit score.

A credit score is based on your payment history and the amount owed relative to available credit. The higher your score, the better it is, and the more likely you will be approved for loans and other financial products with low interest rates, such as mortgages. A low credit score can keep you from buying a house or even renting an apartment or car because landlords or lenders may see you as a high-risk borrower. It can also affect how much you pay for insurance policies.

You should check your own credit report at least once a year so that if there are errors in it that could be lowering your scores (like late payments), then they can be corrected immediately before any negative marks appear on there which will lower them even more over time!

You think you can't save because you don't make enough money.

You think you can't save because you don't make enough money.

This is a myth. You can save money even if you have a low income. You just need to get creative and figure out what are some ways that will work for your situation. Here are some common ways people have saved without making more money:

  • Cut back on discretionary spending—this includes eating out, going on vacations, shopping for clothes and toys, as well as drinking alcohol or smoking cigarettes. It also includes paying for entertainment like movies or concerts. If there's anything else in your budget that doesn't fit into your plans for the future (and isn't necessary), consider cutting it out entirely!

  • Start another job—if you're able to do so safely (e.g., driving Uber), this could be an easy way to boost up your savings account while still working full-time at another job!

You think that you can only save for a rainy day when you have some savings left at the end of the month.

You are throwing away money because you think that saving for a rainy day can only happen when you have some savings left at the end of the month. You might be able to save for a rainy day by setting up automatic transfers and making it a priority, but these things take time, and most people don't have time to wait while they're broke.

Your retirement account is low.

  • You need to save more money.

  • You need to make more money.

  • You need to work longer.

  • You need to invest more.

You spend too much money on eating out.

If you want to save money and start saving for that trip to Hawaii, stop eating out.

  • Eating at home is healthier than going to restaurants because it’s easier to control what you eat.

  • Eating at home is better for the environment because less packaging and food waste are produced when people cook their own meals, rather than getting takeout or delivery.

  • Cooking your own meals is also cheaper than eating out – often by a significant amount!

You don't sell or trade in your old stuff, even though it's worth $400.

You're selling or trading in your old stuff. And you can get a lot of money for it!

This is so easy to do. You just need an internet connection, a few minutes of time and some patience. You can literally sell or trade in your old stuff from anywhere in the world with one tap on your phone.

You buy too many clothes and you're not good at keeping track of how much you spend, which is another $295.

You are a clotheshorse.

You love to buy new things, and you're not that great at tracking your spending. This means that your dresser is full of clothes you don't wear. The best way to save money on clothes is to avoid buying them altogether, but if you do have some habits that require regular purchases (like work uniforms or jeans), then there are ways to be smarter about what you purchase in order to minimize how much money goes into the closet abyss:

  • Keep track of how much money is going out each month so that when the bill comes due, it doesn't feel like all at once

  • Don't buy anything on impulse because sometimes those good deals turn out not so good when they sit unworn for years (or months) after purchase

  • Check online reviews before committing

There are many ways to increase your income, but the easiest are by changing your spending habits.

For many, the idea of increasing their income is daunting. But it doesn't have to be. There are several ways you can increase your income, but the easiest way is by changing your spending habits.

If you want to get out of debt and start saving more money each month, then you need a plan that works for YOU! This means taking a good look at your budget (or lack thereof) and seeing where some adjustments can be made. If this sounds overwhelming or impossible for you right now, don't worry! We'll walk through some basic steps below so that we can all become better budgeters together.

You do not have a financial plan

If you're always broke, it's because you don't have a financial plan. A financial plan is very important when it comes to making, keeping and multiplying more money. It helps you figure out how much money you need to make in order to achieve your financial goals, and also helps identify areas where you can cut back on spending (that sound familiar?).

You should make a financial plan every year, taking into account all of the major changes that have happened in your life since the last time you made one. If there are major changes such as marriage or having children that happened during this time period then make sure they are reflected in your new plan.

Get advice from a professional before making one yourself though! There are some great courses on Udemy. These courses will help teach anyone how important investing is to growing wealth over time--and most importantly WHY we should do so... But if not then at least get advice from someone who has done well for themselves by following these principles before writing anything down yourself :)


Many people are broke because they don't know how to control their spending. They go from paycheck to paycheck without a plan and end up in debt or living from poverty.

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