Top 9 Reasons Why You Are Still Broke

3 28
Avatar for Lixten
Written by
1 year ago
Topics: Broke, Poverty

Nobody plans to be broke, nobody becomes broke by accident.

Your finances are the way they are because of some conscious and subconscious decisions you make daily. Being broke happens as a result of our actions of inactions. It doesn't have to be a permanent condition because it can and should be changed.

Being broke is first a mindset that needs to be fixed. Breaking free is no rocket science.
Here are some reasons why you are struggling to make money (you might still be broke). Which one are you struggling with the most?

1. No Focus

Money follows mastery and it happens by consistently choosing one thing to grow deep roots in. Instead of knowing one thing about everything, know everything about one thing first.

2. No Savings

Savings is a means of building money for multiplying it and not necessarily piling up money in the bank. Always save first then spend what is left. Never save what is left after spending to prevent saving less.

3. Procrastination

Procrastination kills ideas faster than anything else. Money follows prompt action and those willing to jump on profitable ideas on time. Over-analysis of ideas can lead to paralysis so be quick to swing into action on your ideas.

4. No Hunger

You are not passionate enough to grow and willing to do all it takes to legally make money. You don't prioritize self development and action taking.

5. No Value for time

One thing the rich and poor all have in common is 24 hours. How they use it is what makes the difference. What you do with your time determines what you see in your bank account.

6. No High Income Skill

Financial confidence comes with having the right Skills to keep you from going broke even if all is stolen from you. Your smartphone is enough to get you started on this path of learning.

7. Only one Income Source

If you have multiple streams of expenses, it's important to balance them with multiple streams of income. Every business has a possibility for multiple streams of income when carefully examined and explored.

8. No accounting

One reason some people go broke and remain so is that they don't keep an account of what happens to their money. Hold yourself accountable to make more money, save more money and invest more money.

9. Wrong Network

Your association has a.hugr part to play in how much money you can make, keep and invest. Your income will be the average of the 5 people you spend most of your time with.

A quick recap of the top 10 reasons why you are still broke.

  • No focus

  • No savings

  • Procrastinatiom

  • No hunger

  • No value for time

  • No high income skill

  • Only one income source

  • No accounting

  • Wrong network

Being broke is temporary and can be changed in time. It however, doesn't change by default but by applying intentional knowledge.
In the end it all depends on your willingness to make the change.
Your financial freedom is your responsibility - treat it as such with allĀ  diligence.

Found this helpful? Let me know in the comments. I'd love to lead from you also.

$ 2.55
$ 2.37 from @TheRandomRewarder
$ 0.05 from @Alther
$ 0.05 from @Jher0122
+ 5
Sponsors of Lixten
Avatar for Lixten
Written by
1 year ago
Topics: Broke, Poverty


Procrastination wants to dominate me sometimes but I don't let it because I have something I must fight for going forward no matter what.

$ 0.00
1 year ago

Who value their time always succeed

$ 0.00
1 year ago

Yes, they do.

$ 0.00
1 year ago