3 Possible Reasons Why You Are Still Broke
It’s the middle of another month and here you are again.. broke. The bad news is, you might have to get through this month the same but! the good news is, next month can be different.
Having more days at the end of your money isn’t how it always has to be, it is possible to get to the end of the month without immediately tucking into your earnings. In this post, we will highlight 3 possible reasons why you’re still broke.
We’ll be honest, this might not be a Eureka moment but sometimes you need someone to spell things out for you to see it clearly.
1. You don’t save:
And you have “Valid” reasons why. We get it… life is short, money is meant to be enjoyed or things just always come up… but what you are forgetting is a lot of times you need money to make money, so, while you are out here living your best life right now but paying for it by being broke until the end of the month and then repeating the process when your salary gets paid, you could have been saving some of that cash and using it to ensure you have even more money at your disposal for the coming months!
If you are still broke, chances are that that one stream of income isn’t sufficient and you need to diversify your income.
2. You have one stream of income:
First off, we would like to say it’s nice that you have one stream of income, we are not trying to downplay that at all but do you know what’s nicer than having one stream of income? Having multiple. If you are still broke, chances are that that one stream of income isn’t sufficient and you need to diversify your income. “How?” you ask… well, the simplified answer is to find something you enjoy and monetize it! Or, you could find “side gigs” that fit into your schedule and work on those in your “free time”. Another great way is to invest! Which brings us to our third point
3. You think investing should wait until you’re older or earn way more money:
This is one of those myths that are so baseless, it’s hard to trace them to a source. Investing has absolutely nothing to do with how old you are and there are investments you can begin with “little” money! It’s possible you just don’t know where to find them and that’s where investment apps/platforms can help. There are many great reasons to invest (the most prominent one being to make a profit of course) and one of them is you get to turn the table! You’re out here daily working for money so how about you flip the script from time to time and get your money to work for you?
One of the first stages of change is awareness so now that you know what could be causing you to dread the week leading up to payday, you are in phase 1 of the phases to not just “stop being broke” but to “create wealth”!
