Are you struggling just to get by? Do you find yourself living paycheck to paycheck? Even people with a decent income can find it hard just to get ahead. Almost everyone is guilty of having a few spending habits that could be corrected. If you are doing any of the 7 Bad Habits below, kick them to the curb and start making progress on your financial future immediately.
- Broke People Spend Everything That They Earn – What is the first thing that comes to broke people’s mind if they get a raise, inherit money or get a bonus at work? How to spend that money on products and services that make them feel good in the moment! Essentially, broke people always, always, always adapt their lifestyle to what they are earning.
- Broke People Buy Stuff That They Don’t truly Need – Many broke people spend an inordinate amount of their money on stuff they don’t really NEED. Let me tell you my definition of need and luxury, because I think that we have lost the connection to what we truly need to thrive. Beyond basic housing, food, clothing and transportation we honestly don’t need much to feel happy and become successful. Going on a vacation, buying the newest clothes and entertainment systems, the newest cell-phone, etc. is pure fucking luxury and absolutely not NEEDED to feel alive, happy and leave your legacy in this world.
- Broke People Procrastinate – When it comes to making important moves in life, like getting a clear picture of their financial situation, broke people constantly make excuses and lay the needed effort off until it is almost too late.
- Broke People Put in the Bare Minimum at Work or in Business – Broke people never put in more effort than what truly would be needed to get ahead in their position. This practically ensures that they’ll never get a raise or otherwise improve their situation.
- Broke People Think That Rich People Are Evil – People who are constantly broke often think that rich people are somehow dishonest or that they had to rip people off to get where they are now. Yes, of course there are many assholes out there that would do everything for money, but the large majority of wealthy people got their through hard, honest work and personal sacrifice. You can’t be a liar or rip-off in business or at work and thirve in the long-term.
- Broke People Rely on One Income Stream – Broke people depend almost exclusively on their job as an income stream. They never look into investing in stocks, starting a side hustle or getting into real estate to bolster their income and make themselves financially resilient.
- Broke People Think that Persuasion and Negotiation is Sleazy – Let me tell you one thing. Nothing changed my life more, financially and psychologically, as learning about what makes us humans change our minds and how to make good deals. Form getting a raise at work to selling your house or even going shopping for clothes and talking to your neighbor, every time we humans communicate we are negotiating or persuading. Broke people avoid negotiation because of their fear of looking stupid or selfish. A grave mistake that can cost them thousands of € over their lifetime.