8 Things That Are Keeping Most People Broke
Avoid these mistakes at all costs
Do you have at least $400 saved to cover an unexpected emergency? You’re financially better off than one-third of Americans. The truth is that most people do a very poor job when it comes to managing their finances.
Far too few people are responsible with their money.
You can have a good relationship with money without having a high income, or being ultra-wealthy. All it takes is making responsible choices instead of careless decisions on a regular basis.
So let’s talk about some of the most common reasons why people are broke, as well as ways to avoid them. Some of these mistakes could keep you broke forever.
Not having clear financial goals
Financial goals are the starting point for every decision you’ll make with money. You’ll probably not be able to increase your income or pay off debt if you have no direction.
By having set financial goals, you now have a destination to look forward to.
For example, becoming debt-free within the next 5 years is a clear and concise goal that you can use to execute a plan that will help you get there.
