If you are always short of money, always looking for money or very quickly broke then there are possibly 2 habits you have that are responsible for this situation.
This may not be true for everybody but here are the 2 things that keep you broke
You are paying for someone else’s lifestyle
In this case, someone else is the person you are in a relationship with. A girl or a boyfriend, the side chick or guy and yes even your spouse. We all know there is nothing more fulfilling than pleasing the one you love, especially with treats and gifts. However, this can get out of hand if you do not watch it.
The gifts, treats and trips that you spoil your person with can also spoil your chances of keeping out of debt, building an emergency fund or investing in a side hustle. Both the emergency fund and side hustle are important because the former is that go to money that we all need when something unexpected happens. The latter is that money that can come in handy when for the extras our regular salary cannot cover.
If you have been trying to keep up with another person’s demands or trying to keep up with the trends or what his or her friends are getting it is time for a rethink about the way you are maintaining your loved one’s lifestyle. Keeping up is keeping you broke.
You are borrowing to have fun
The many times that you have told yourself that you should go straight home on a Friday and don’t have probably contributed to your being short of money.
You tell yourself, I will just have one drink, buy one snack and pick up one round but before you know it, you are spending more than you planned. So after many times of doing this, you have the title of “Big Buyer”. Only, you are a big buyer that buys on credit. Stop it!
To limit borrowing, try to give yourself a budget for the month and when that is finished, find something that does not cost money to do. Better said than done yes but, spending money you have borrowed to have fun will forever keep you broke, since you party every weekend, and pay for it and more every month-end.
There is nothing wrong with having fun but there is everything wrong with borrowing money to have fun.
