To Be Broke or Not To Be?

The term, “I’m broke” differs from person to person and is based on his or her circumstances.  It varies from not knowing where the next meal will be coming from to having a shopping cart full of groceries you can afford but not enough left over to cash out on a worthy bottle of wine.  There has been times where paychecks have already been promised to billing companies, emergencies, the best friend’s birthday trip that has already been committed to or simply falling behind.  Things happen.

No matter the personal explanation behind “broke”, there is one thing that never changes: The rich remain rich by living below their means and keeping their money.  This concept will aid in living debt free, stress free, and make saving up for something like a vacation more realistic. Return what doesn’t work out, if it doesn’t fit or flatter your body then leave it at the store, stop settling, and try not to be hypnotized by the word “sale”.  It’s very common to pay on several channels you don’t watch, a cellphone that has functions you aren’t using, and device you bought when it was the hot ticket item but now no longer works properly.

Who is stopping you from either cutting your cable package down or enjoying a new show/network you regularly wouldn’t? I bet you are spending money and time on a something that your cell phone already has an app for.  That post-hot ticket item that doesn’t work, call the manufacturer and they may just send a shiny new one.  The scenarios listed are opportunities to either hold onto your funds and let them build or feed your snobbish addictions.  The goal is to maximize your lifestyle with minimal stress and effort but never “broke”.

No one needs to know what [legal] measures you take to keep your pockets from breaking and some practices are only temporary-like working at a store not only for the check but mostly for the discount on baby clothes.  Most money saving practices are free and super simple such collecting coupons, rewards cards or opening a bank account with cashback and perks. (It still amazes me how many adults do not have bank accounts and can’t hold onto money).  I would suggest writing down your monthly expenses accompanied by an estimated dollar amount separated by a “need” and “want” category.  Skim that list like you would skim the menu at a fast food place after you have committed to a new diet.  There is something on that list that was a need and can now become just a “want”, something you can do without, ease up on or trade (like dining out for trying a recipe with five stars from ninety-two people).  Be very creative and think outside the wallet.

As long as you are breathing, you can stop yourself from falling into the pitfall of “broke”.  Sometimes it’s as simple as understanding the grocery and retail cycle so that you can become a smarter shopper (article coming soon).  Excluding the obvious “who you know”,  I believe that 20% drive, 20% discipline, 25% talent/skill, and 35% planning will keep you on level ground and running towards keeping your money and away from “broke”.