One of the saddest moments in life is when you are broke!
Being without cash and a solid alternative to cash can be very frustrating and depressing, something that must be avoided at all cost!
But many of us constantly find ourselves in that broke situation time and again and it is as if something is wrong with us!
Nothing is actually wrong with you, you are just doing certain things wrongly.
1) Spending more than you earn is one of the dumbest things you could do yet most of us do it very well.
Spending more than you earn means getting into consistent debts and this is a sure recipe for financial disaster.
No matter how much you earn, if you spend before you earn you will never have enough.
2) Spending before you earn is another variation of reckless spending. This is a very harmful indulgence that gratifies your desires before you ever think of paying for them.
Actually this is the greatest financial deception of the age. They encourage you to enjoy now and pay later but they don't tell you how expensive such indulgence would become.
No matter what avoid the temptation to spend before you earn because spending is usually far easier than paying back.
3) Spending without saving and investing. If you don't keep money aside and have structures to multiply money, you will always struggle financially.
Money on it's own has no lasting value, the value money gives is hinged on it's availability so no matter how much you have now if it is not consistently replaced, stands for nothing.
You must develop the culture of putting money aside for the rainy day which will always come and for investment which will guarantee more.
4) Spending on luxuries without a replacement plan. The money to go on vacation should be gotten from the proceeds of one of your investments for you to sustain such a lifestyle.
Buying a car or living the good life shouldn't be funded primarily from your major source of income.
You need to live the good life but not at the expense of your life.
Ensure that there is always a replacement plan for money spent on luxuries.
5) Spending on impulse is one of the greatest devil's you will have to overcome on your journey to financial stability.
There will always be things you will like at first sight. Infact there are people whose jobs are to create things that will keep permanently spending.
If you fall for them, then sorry, you will most likely remain broke.
Financial discipline is required for financial stability and it is the ability to delay gratification for something of a higher value.
Be rigid with your spending, those beautiful things will not dissappear if you don't buy them now!
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