Do you have a friend who always claims they are “broke” but have money to go out every weekend?
I am sure you guys have that one friend who goes out every weekend; spends a night at the club, eating dinner out and shopping sprees. Then at the beginning of the next week they are “so broke they can’t pay their bills”. Now, if you can “afford” it there’s nothing doing all the above; especially if your bills are PAID before it, and yes we don’t know their “story” but if they are your friends you already know.
So for all your “broke” friends out here are 12 reasons why you’re always broke:
You spend all night out at the club buying drinks and partying – Let’s face it clubs aren’t cheap and neither are drinks. If you live in a small city like I do going to the next big city can be expensive; gas, parking, the admission to the club, and of course drinks. If you spend every weekend at the club drinking this could be why you’re broke.
You eat out every week – And I’m not talking about fast food. The restaurant business is one place people always spend money on because you got to eat right? Those late night binges and pricey meals add up quickly; especially if you’re doing it multiple times a week.
You purchase “designer” clothing – You can’t have champagne taste with a beer budget. If you’re first in line to buy the newest Jordan’s this could be why you’re broke.
You spend too much money on appearance – Beauty is in the eye of the beholder; if you’re constantly spending money on getting your hair “did” and your nails done this could be why you’re broke.
You spend too much money on alcohol – Nothing says a “good” time than getting completely wasted right? (Wrong!) If you spend too much money on booze especially when out eating or at the club this could be why. Also, if you have to buy alcohol every week to “have fun” you may have a problem.
You spend too much money on drugs – Yes, people spend WAY too much on drugs; especially weed that “high” is expensive and only lasts so long. You will be constantly spending money to achieve that high.
You have a Starbucks addiction – That $5 cup of coffee adds up quickly especially if you’re buying one a day all week long. By the end of a 5 day period, you’re already spent $25; and that’s only one cup a day imagine if you purchased more.
You don’t know how to say no – This one is especially for those who have kids; saying no to your precious kiddo can be hard we’ve ALL been there. Then there’s the screaming, crying, temper tantrum in the store. This is an entire issue in itself but this could also be a why you’re broke.
You smoke too much – Cigarettes are costly for a reason; not only do they do damage to your health they are also about $5 a pack! If you smoke more than one pack a day/week you’re spending a lot of money on that addiction.
You shop too much – Even shopping at discount stores can add up quickly when you buy, buy, buy, but don’t get rid of the things you already have and don’t use. Do you really need 5 pairs of the same shoes in different colors?
You charge it – You use your credit card for everything and can barely pay the minimum balance.
You don’t know how to budget – If you’re spending money you don’t have on any of these things this is why you’re always broke.
Some of these things listed about screams irresponsibility, there’s nothing wrong doing any of the above (besides health risks) IF you can afford to do so AND your financial obligations are correctly taken care of. Maybe is just me, but I wouldn’t do anything unless I know I can actually “afford” to do it.
Here’s how you can do all the about without spending loads of money:
- Club – Limit your “trip” to the club to twice a month; consider a place that has a happy hour where drinks are half price or limit your alcohol intake you can have fun without drinking.
- Eating out – Limit eating out to once a week; use a coupon, or special promotion to dine out. Consider places that have 2 for XX or places that offer a complete meal (including appetizer and dessert for one price).
- Cut the designers out; you don’t “need” designer clothes to feel good. It’s all about HOW you look in clothing and not WHAT’s in/on them. Some “designer” clothing is ugly; remember that “couch” dress Kim K wore when she was pregnant? Yeah…
- Appearance isn’t everything if you MUST have your hair or nails done consider doing it yourself or asking a friend/family member to do so. You’ll both have fun and it doesn’t have to cost you anything.
- Alcohol – Don’t drink when you’re out; drinking at home can be cheaper for a whole BOTTLE than for 1 glass. Limit your intake.
- Drugs – Avoid at all possible charges; they are hazardous to your health and in many cases illegal.
- Coffee – Limit your coffee purchases to 1-2 times a week. Starbucks now make lots of different products that you can use in Keurigs and that old coffee maker. If your office has one of these consider buying your own and brew your own cup of coffee to make at the office. Don’t forget if your office does have a Keurig you can buy one of those instant cups and use ground coffee in it to save even more
- Learn to say no – Teach children you can’t always get what you want; if you want something you must earn it. Set goals for good grades, behavior, and chores, it feels so much better buying something with their own money that they earned.
- If you’re a smoker consider rolling your own cigarettes; the materials needed are inexpensive and it only takes a few minutes of your time to do it. You’ll save time and money by making your own and hopefully, you’ll realize how disgusting they are by seeing what truly goes into them.
- Curb your shopping addiction – If you bring one new item in, two old items must go out. Reduce clutter and sell unused/needed items. Try a 30-day ban and write down your spending habits, you’ll realize what and where you spend the most and know where you need to cut down spending at
- Stop charging it – Credit card debt is one of the most common places people get in trouble with; paying for items with credit. While that new TV or computer may sound tempting don’t charge anything you can’t pay off by the end of the month. Charging little things that you actually CAN afford keeps your credit card active, showing usage and helps build or keep your credit building.
- Learn to budget – Know how much leaves your bank account each month. Knowing exactly how much you make, and what your bills are can help you save money in the long run. If your bills are still too high consider talking to your provider; many companies offer payment plans and programs that help those who need help with their bills. If your provider doesn’t offer this option or they can’t find a way to help you cut costs, look into other companies or see where else can you cut costs at. Do you really need that monthly subscription box? Can you cut out trips to Starbucks? Also, start a nest egg of money for those “rainy days” this can also help with #11 especially when you’re in a bind.
Do you know someone who does this? Are you just as guilty of doing these things? Let us know in the comments section below and feel free to share your tips as well.