Things That Makes You Broke

This year 2022 broke us financially as we are affected by the world's economic status. Our economy is still affected by the pandemic's spread for two years. Global recession, inflation, war, and many more factors affect our financial situation. But aside from that, there are several reasons why we get broke even more.

Here are things you should know that make us broke even further aside from economic impact:

• Spending money on things you can't afford

• Procrastinating in saving money

• Jumping on a quick rich scheme

• Extravagant lifestyle

• Laziness

Those things break our wallets even more if we don't know how to tame ourselves in overspending. Let me elaborate on each way that makes you hurt, so keep on reading this blog.

Spending money on things you can't afford

Spending money on luxurious things that you can't afford will sure make you broke. Some people go for credit to have the things they want, even if they can't afford them on their current budget. It will make them suffer later on in paying debts.

If you want to buy something beyond your budget, you must save on it first. It will keep you from debt. It's hard to get out of debt; your monthly budget will always be affected as you have a lot of debt to pay.

Procrastinating in saving money

Savings should be one of your priorities, along with your expenses. Procrastinating in savings will make you broke later on if you encounter an emergency and you don't have funds for it.

Savings are meant for emergencies or things you want to buy in the future without using credit options. If you keep procrastinating in saving money, you will find someone who lends money when you need it the most.

Jumping on a quick rich scheme

Some people get broke when they get rug pull from investment schemes promising to get rich quickly. There is no easy way of getting rich; if someone offers you that scheme, you should avoid it at all costs. They will run your money for sure.

Or some got lured by others who earned big-time profit and invested immediately without doing their research. It is essential to do your due diligence before putting your hard-earned money to avoid getting broke in a snap.

Extravagant lifestyle

Some people are too pretentious on social media. Buying luxury stuff, traveling, etc., to show off, no offense to financially capable people. Living a lifestyle that is beyond your means will make you broke.

You can strive harder for financial freedom first before you show off; in that way, you can avoid getting broke. There's no wrong buying luxury stuff, going on travels, etc., as long as you can afford it and it is according to your means.

Laziness

Laziness is anyone's enemy; we can be lazy sometimes, but being lazy at all times is a different story. You can't gain or achieve anything if you keep your lazy ass.

Even billionaires work days and nights. How much more an average or below-average citizens like us? Let's work our ass off so we will avoid getting broke and provide for our financial needs without being a burden to anyone around us.

Conclusion

If you want to get broke, you can apply all those things. If you think being broke is fun, then go, enjoy spending money on things you can't afford, procrastinate in saving money, invest in scam projects, have an extravagant lifestyle, and be lazy. That's the easiest way to get broke.

And if not, then avoid all of those things at all costs. Live within your means and stop pleasing anyone; you can't please everyone, so just shut it and live peacefully.