10 Reasons Why You Are Broke And What You Should Do | FinCalC

We all face that situation when we have no money, no goals, no ambitions and we are broke. 

If we are broke, we should be accountable for our situation. We ourselves are responsible for it.

Nobody else is going to look after you other than you yourself. Here are some reasons why we are broke and what we can do not to be broke.

1. You Don't Believe in a Budget

Budgeting is the process of allocating specific amount of money that you are going to spend on different things in a month. This is one of the top reasons why you are broke. You don't believe in a budget, you aren't aware about your spending patterns and you probably don't know where your money goes by the end of month. You live paycheck to paycheck. 
Start budgeting.

2. You Compare Yourself With Other Rich People 

Comparing does no good when you are comparing in terms of money. Comparison raises your expectations and you get hurt if you don't fulfill them. Life is like a race and people are running their own race. Some are ahead while others are behind, but eventually all are running on the same track. Don't compare your income or assets with other rich people. Start working on your goals.
Compare yourself with your older version.

3. You Can't Say No 

Saying yes to everything is being kind, but not always good. Learn to say no. If your child is crying for a toy and you get a toy for him, he will cry again for more toys. Don't let it become a bad habit and learn to say no. 
If you are kind to everyone at your workplace, people will take you for granted and get their job done. Find out good ways to say no to most of the things that doesn't matter in your life.

4. You Blame Government For Your Problems

When something goes wrong, you blame government and complain about your problems. You are paying more taxes, you blame government for raising the tax slab rates. You find something is expensive, you blame the government and economy.
Stop blaming government for your problems. Plan according to the changes happening around you.

5. Blaming Someone Instead of Finding Solution

Similar to blaming government, you blame other people if things are not in your favor. Don't whine about your problems and blame others. Find solutions instead of blaming people.

6. You Love Money too much

One of the reasons you are broke is you love money too much. You are extra conscious about your bank balance and check it every day. You are obsessed with money and just dream about increasing your income instead of taking actions. You procrastinate in taking actions to increase your income.
Start taking actions and don't be obsessed of checking your bank balance every day.

7. You've Stopped Learning 

Learning is a lifetime process. Those who stop learning virtually stops living. He isn't aware about the new things happening around the world and gradually declines to think about new ideas. New ideas or thoughts make us to act on them. Action results in beautiful outcomes. But if we stop learning we decline to act. 
Never stop learning.

8. You Have Bad Habits

Addiction to bad habits is another bad habit. Smoking, alcohol, drugs, obsession with social platforms are all bad habits to be avoided. You waste time and money if you are addicted to bad habits which eventually leads you to be broke. You feel disgusted and unhappy about your life.
Stop having bad habits.

9. You Have No Goals

It's very important to have goals in your life. Without proper goals you are not aware about what you are doing in your life. You will always complain about not having time to complete your tasks which is the result of wandering around without having any life goals. 
Have short and long term goals. Plan your day and work on daily basis. Small steps compounded over a period of time results in beautiful outcomes.

10. You Hang out with Wrong People

"You are the average of 4-5 people that you hang out with, most of the times."

Choose your friends wisely. Find out people that have similar interests and interact with them. See if you can work together on your goals. Working as a team gives you more ideas and feedbacks from different perspectives. 
So, choose people wisely and work together on your goals.

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