WHY AM I BROKE? UNPACKING THE MYSTERY BEHIND EMPTY WALLETS.
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if you have ever found yourself wondering or asking the question "why am I broke?" you are not alone many of us have being there and are still there. Being broke is stressful,challenging and more importantly can make you miss opportunities, the good thing is that there are steps you can take to help yourself through this difficult time.
that being said this post is not to sugarcoat the situation of you being broke, is about showing you what to do for you to be free from constant lack and prove to you that you too can be financially free 🆓.There is nothing worse than being broke. stress, embarrassment, and a Sense of helplessness can accompany it. But it is important to remember that being broke is a TEMPORARY SETBACK which a clear plan combined with resourcefulness and resilience can help you out off.
1.BREATHE AND BE HONEST TO YOURSELF:
Don't panic YES there is nothing to be afraid or be ashamed about, being broke is just a temporary state. there is nothing more nerve wracking than realizing you are broke but again don't panic many of us have being there, I too is still battling being broke, occasionally even the rich you know face financial hardship.
*Instead, acknowledged the fact that you are broke, since the first solution of solving a problem is knowing that it is a problem, being broke is a problem. Acknowledging that being broke is a problem would make you focus on what's right.
2.DIAGNOSE THE PROBLEM: Find the ROOT cause of why you are broke, being broke can be caused by these three main factors which is listed below.
**lack of financial education: Understanding how money works is important if you want to break free from being broke. with out financial literacy, it's challenging to make informed decisions about spending, investing and saving. school often don't teach us, leaving us unprepared to manage money effectively, with out understanding budgeting, saving, investing and implications of debt it's easy to fall in to financial trouble. As a person that want to break free from being broke you must put in the work, learn about finance,wealth creation and maintaining that wealth.There are countless free resources online including blogs like this, podcast etc. LEARN the basics of budgeting, understand credit and explore investment options that can significantly change your situations.
*spending more than you earn: In this fast moving world where everyone wants to be addressed and seen as the most beautiful, most handsome, elegant, successful we often overspend just to look the part. Social pressure and the desire to keep up with trends can lead to overspending, whether it's upgrading your phone or going for that weekend getaway.When buying ensure you are not spending above your means.
*not making enough money: the question is can you make enough money?, Yes! you can. making enough simply means you being able to get all what you need as at when needed, not make enough could be as a result of you settling for less, fear of leaving your present job, even fear of opportunities. In the early days of my business in [fashion], i as a designer was always afraid of bulky orders. Why I am afraid then, I had this mind-set that bulky orders are stressful and you as a designer would not make enough from it, so every time I had a bulky order I turned it down. When I realized how bulky orders worked, I changed my mindset and started collecting bulky orders and since then my life has changed. So don't be afraid of opportunities,you can always delegate your task.
3.DON'T BLAME OTHERS:
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Blaming others for your problem is the first step of not changing that situation, you blaming others just shows that you don't want to take responsibility.which can either be your joblessness or overspending more then you earn. taking responsibility for my actions has been the best habit I have learned, always take responsibility for your actions. In today's world were many people blame others for their failures, problems, temptations, situations and even relationship problems for example, a cheating husband or wife would blame the devil for his/her indiscipline, while some, their family background or their parents. STOP THAT!! never blame or point fingers to others. remember your money is your Responsibility, decide to make positive changes about your life.
4.DEVELOP A STRATEGY OR A PLAN:
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It is always said, he who fails to plan, plans to fail, don't be a farmer that's goes to his farm with out his work tools, set strategies, make plans on how you can overcome constant lack. Setting strategy would make you focus on what's right. Here are some steps you can take when planning:
*know your CASH FLOW.
*Track your SPENDING:you can track your expenses through your financial statement.
*Categorize your EXPENSES according to your needs.
5.ASK FOR HELP:
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Allow yourself to be loved, don't be afraid to ask for help from friends and family be willing to be vulnerable.you are not the first person that is broke, and neither would you be the last.You would be the last only when you don't take action to change your situation.i as an individual always had the problem of not being able to ask when I needed help. but ever since I knew that asking for help wouldn't make me less of a man, I ask for help when I know I need it and when it is necessary.Always ask,The worst thing that can happen is you not receiving what you asked for.
FEELING BROKE IS NOT JUST ABOUT INCOME, ITS ABOUT HOW YOU MANAGE WHAT YOU HAVE. MAKE SMARTER CHOICES, SET GOALS AND WORK TOWARDS THEM.
NEVER BUY ON IMPULSE.
THANK YOU
HARRISON EUGENE
