Being broke is not only stressful it is also very annoying as this just blows all of your plans away.
While there may be some things outside of your control there are some things you can control. So do this when you are broke
Stop Taking Things on Credit
You may be broke but that will not stop you from buying more stuff, on credit. Taking something with a view to paying for it later is a bad idea, no matter how much you try to justify it.
Certain times rationalizing that you “need” it or that life will be too uncomfortable without it is dangerous. This is because more often than you’ll be just fine without those extra purchases.
Stop spending money on things that you can have now and pay later like clothes, shoes, bags and other accessories. You do not need them right now and chances are you already have some of these items already.
The truth is that you are broke and you cannot afford adding another monthly payment to your already full monthly payments list.
Stop Going out Every Day
You are young free and single yes but, you are also broke. Going out every day or having a drink with friends after work is a normal thing to do in your circles but, if you are broke these after work outings should stop.
Also, the concert, food market and football match is something to avoid when you are broke. Unless you have money saved up for these such outings, there’s probably something more pressing you could spend that money on—like pay some bills.
Stop Loaning Money Out
Having no money for yourself means you also don’t have money for anyone else. This also means refusing to use your good credit standing to borrow on behalf of someone else, using your name and credentials.
You are essentially accepting the responsibility for the monthly payment if the other person can’t make it. This also goes for putting drinks and food on your tab at your local hang out. When it comes to paying up, the patron will not remember or want to know who was with you that night and who agreed to do what. All they will want is the bill to be settled.
Stop Being Wasteful
Stop wasting electricity or water. These are two utility services whose price you can control. Turn off lights you’re not using. Don’t let the water run. Use surge protectors and turn them off when you’re not using those products.
Don’t pay someone else to do things you can do yourself. Paying someone may save a little time and work, but when you’re financially strapped, you just can’t afford to pay for these things. If you can barter for them, that’s a different story.
Make frequent hair, nail, or spa appointments. You can do your own nails and give yourself a facial for a fraction of the cost that you’d pay a professional. You may not necessarily be able to give yourself a haircut, but you can go a little longer between trims, e.g. a month or two instead of bi-weekly.
Stop Pretending
Pretending that you have more money than you do is a terrible idea because people will think you have money all the time. This means that they’ll expect you to spend money. Lie to your spouse about the money. It’s often said that money is one of the biggest causes of divorce.
Keeping secrets about money will probably cause more harm than good. You don’t necessarily have to let people know the severity of your financial situation, but don’t pretend you have money to blow when you don’t (even to yourself).
