5 reasons you are always broke

By Coach AlexanderTopTier4You

Introduction• It’s the end of the month again and somebody just got paid. It’s usually a

great feeling knowing that cash from somewhere just hit your bank account waiting to be spent. However, just a few minutes later after looking at the bank statement reality creeps it. Your once beautiful salary is slashed with the loan you have to pay, the home bills you have to take care of, the maintenance bills and all those other crazy bills.

• Life is unfair sometimes isn’t it? its no wonder sometimes even the best

of people cant just bear it anymore. Ofcourse, some people have it a little easier than others but if you want to talk about how things are generally, a lot of people are struggling to make ends meet. Being broke certainly isn’t cool, but it doesn’t mean it has to be that way always. But before we even go into understanding why many of us today are just broke most times, lets try to understand what being broke is anyway?

Being Broke

• Being broke simply means you just not having any money. There are things you want to buy for yourself sometimes but you always search your wallet only to find there is only dust. It doesn’t mean that people who broke don’t actually work; you might be surprised that some actually have good paying Jobs. But here is the truth, being broke always happens at some point in a person’s life. Now we go to the juicy part, Why are we always broke?

5 Reasons we are always brokeHere are 5 reasons we are always broke and for each reason there is a possible solution to that

problem.

(1) Your Budget • Remember that example of somebody who just got paid and his bank

account becomes empty that same time? Well, that’s how it is for most people. We have too many bills to take of. We have to pay for rent, we have to pay for the loan (if we have one), we have to pay for those piano classes, extra lessons and all those other stuff. When it comes to our budget, we obviously have an idea of how our monthly expenditure will look like. But here is the thing, whether you knew this or not whenever we are planning to spend there are always those essential elements and none essential elements in a budget. What are we talking about? When we say the essential elements we are talking about those expenses you cant just do without such as rent, electricity, communication, fuel e.t.c however the none essential elements include those items you can do without at least for some time. What items are we talking about? Well items like going to parties, or eating out often or going to watch a movie or buying luxurious things. I bet you know where this is heading already don’t you?

The Solution???

Continued……

• If you want to avoid being broke you have to get rid of some expenses you do monthly out of your income. As an individual you are never going to get rid of the essential expenses because your need them, but you are going to get rid of the none essentials. You need to ask yourself these important questions when deciding which one to let go of. Do I really need to spend this amount of money on this item monthly? Can I do without this item for some time? Cutting down on spending for none essentials would certainly go a milestone into ensuring that you are not always broke. Easier said than done, but that is just how reality it.

(2) You are an Impulse Spender

• Whether somebody gets a good salary or not, he has to avoid making spending decisions based on impulse. What is impulse spending? Well it’s the kind of spending whereby immediately a person sees something in the store which he/ she likes, without even thinking about the implications of buying that item he/she just buys the item. Its alright to make such decisions on small less expensive items assuming that it is done moderately. However, if you do it on really expensive goods which you were never prepared to purchase in the first place then you might just find out that being broke will always be part of your life.

The Solution???

Continued……

• When you want to make important purchases, make sure you think things through before actually getting an item for yourself. You don’t want to buy something and months down the line you regret having gotten the item because now you are broke. When you see an item you like ask yourself these questions. Can I afford it? Do I really need it at this time? Can it wait until another time? Easier said than done, but that’s just how it is.

(3) You don’t save • I know how it is, nobody likes saving and not even i. But the beauty

about saving money is that a person can save any amount that he wants. He can start small and see his money grow over time. The best way to save is to have part of your monthly income put in savings account. Alternatively, you could save that hardcore cash in your own home. However, the only trouble with saving money at home is that if you are not financially disciplined you might just find out that accessing money will become too easy. I prefer the bank.

• Ofcourse the culture of saving money is just something we all have to cultivate. It’s just like learning to ride a bicycle. You might fall down many times but the time will come when you will actually be able to ride the bicycle with ease. I am one person who believes that saving should be enjoyable.

The Solution??

Continued…..

• Start saving your money by putting aside some amount of money out of your hard earned income today

(4) You don’t have wide Income Streams

• Having wide income streams simply means having a wide array of sources of income that finance your budget. Most people usually have one source of income, few have 2 sources and very, very few have many sources (usually the rich). The advantage of having a wide source of income is that if one of these fails then the other can help finance your budget. Ofcourse many know that the only drawback to this is that you might just have to invest more time to acquire the additional income. Some people opt to get a second job, which I usually don’t like myself. But that’s just the sad reality, if a person doesn’t have many sources of income, then he will be always broke. Establishing additional sources usually takes time and effort but once they are established, then you are better positioned.

•

The Solution??

Continued…..• I would recommend starting your own business. Easier said than done right? Well

sometimes there are things you just have to do in order to solve a problem. Take employment for example, people go to work in order to earn an honest days living. But believe it or not, some of these people don’t enjoy going to work everyday. In fact they would rather have something else to do rather than put their energy into something they never enjoy. So why do people go to work? Not because they want to but because they have to.

• It goes the same with having a side business. If your monthly income is not enough, you just have to find a way to supplement your low monthly income. You can either cut home expenditure or find a better job or start your home-based business. Starting your home-based business is a better option. You see here are some pointers as to why a starting something at home is a best option compared to the other two. First of all, cutting home expenditure is a painful especially if you are already strained with expenses. Secondly, if you are looking for another job usually that is a time consuming process which in most cases could have a 50/50 chance of success. But when it comes to business, you don’t necessarily need a lot of money to start you just need an idea.

Continued…

• Once you have an idea and an idea that’s proven to work, then rest assured whatever little resources you ve acquired you can invest in a home based business. What home-based businesses are there? BINGO!! The Internet business. Haven’t you heard that people are earning a living online and right from home? If they are doing it so can you. Here is a video I usually like to share to my visitors of a person who is actually earning a living online. You can follow this link. https://goo.gl/sttiSm

• If you liked what you see and would like to learn more click

here. http://goo.gl/R0r61e

(5) Your Mindset• If you think you re always broke then you will always be broke. It’s all in the

mind. You see folks, if you always see yourself as somebody who is on the lower end of the economic scale, you will always be on the lower end. Why? Whatever activity you do will be the kind that won’t take you anywhere because that’s how you have programmed your mind. But if you see yourself as somebody who is one day going to be earning an income with some money to spare, then whatever you do will be tailored towards achieving that.

• If you are broke today, you have to change your mindset into believing that it will not always be like that. As soon as your mindset changes the actions you start taking will fall into place. It all begins from there. The mindset plays a huge role into the way you do things. You will become a better saver of money, a better person in the way you do things and a better person in the way you do everything.

The Solution???

• Seat down, relax and then think through about whatever it is happening in your life right now. Dig into your mind and throw away all those negative thoughts. Push in the positive ones and start to really dispel all that being broke stuff. We are not saying you shouldn’t tell the difference between fact and fiction but train your thoughts to have a positive outlook. Get into action, start making things work today.

Thank You!TopTier4You