7 Reasons Why You Are Out Of Money
18 Sep 2015
Don’t hate me already, I absolutely realize what being broke exactly feels like and even worse how dreadful it is to barely make the money to live. Millions of people even in the wealthiest countries on the planet are struggling to make enough from the 9 to 5 routine. Money issues are something absolutely impossible to evade and can surely make our lives terrible. Here are some of them:
1. Insufficient Income
Sometimes it does not matter how much you cut and how much you save, you just can’t possibly keep up with all your responsibilities with the little amount of money you have. It can be quite depressing to realise that you lack enough money for your monthly expenses. Well a situation like this require immediate action, and you should really do all you can to turn the situation around as quickly as possible. Something that you can definitely do is to modify your unnecessary expenses. This might involve doing something like sharing your place with a roommate or keeping the heating down a little bit. Basically do whatever you can possibly do and you will eventually start to notice the difference it makes.
2. Spending Too Much On Junk
Well there is really no thinking here that you have two choices. You can either cut down on your spending or continue being broke. Getting rid of your addiction of spending can seriously put your life at much more ease. And I must say that no one can possibly convince you enough and at the end of the day it’s you who can decide to change.
3. Being In Unfortunate Situations
It is very unfortunate that sometimes medical treatments can leave us pretty much bankrupt. But that’s how pretty much things work sometimes. Whether it is a natural disaster, an untimely death or a critical illness, money is unarguably an issue for most people and I absolutely feel your pain on this matter. Well for such wretched and miserable circumstances just make yourself as much prepared as you can by saving a little each month and having health insurance.
4. You Are Too Generous!
Ever seen those people who are indulgent to fault? They are paying other’s electric bills, cooking food for the neighbors, doing gardening for free and taking care of friends’ expenses. Oh yes, they also sympathetically and leniently give away money to charitable organisations. Nevertheless their own bills are surprisingly unpaid and they often go without the things they need. Well, if you are one of those people, STOP being a fool. You have to pay yourself first. Helping other people is a great thing to do, but only when your own bills are paid and necessities are fulfilled.
5. You Are Unaware Your Money Is Going
Looking at my friend’s finances, I was astonished to see how much money she spent on late fees, overdrafts and random things that she does not even remember buying. Since she made a decent amount of money I could not figure out how she was broke. So you really don’t want to make such mistakes, do you? Acting like there is no problem does not really make the problem go away, it makes it even worse. Make sure you are following up with any due dates of bills, payments and checking on your bank balance at regular terms.
6. Economic Illiteracy
A surprising amount of people are economically illiterate. They are going to college but fail to understand the basic economic terms. Economy is expounded as household management. Manage means to be in charge and succeed in surviving, especially against the heavy odds. To manage your own economy means you have to create money by playing offense in the marketplace.
7. Nine-to-Five Strain
Many people moan about the nine-to-five schedules. If your money situation is tight, then you must admit it. The first step toward recovery is to admit you have a problem and the second step is to stop putting the blame on others and expecting others to fix your problems. Confront what your situation is, pay attention to your income, be flexible in terms of whatever you have to do to get out of your problems and make it your first priority and responsibility to get your financial life in order.
There is a quote that say: “You run out of money, you run out of friends” so you better keep that in mind along with other points mentioned above 🙂