Broke to the Bone? 5 Smart Reasons you’re Totally Out

Latest study shows that more than half Americans are living with one paycheck to the next with no saving to speak of or financial discipline to boast of. This sucks! But the truth is Americans aren’t really alone on this. Many guys all over the world are living exactly like this today. They are either completely in debts, living by loans, or lack financial discipline to push them through the months. Here are some top reasons you can be flat broke plus tips on how to develop strong financial habits.

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You Can’t Quantify Your Money

Do you know your debts, assets, and savings? Unless you have a definite answer to this question you’re probably spending more than you earn or owing more than you get. Create a budget. Know what you earn, understand your expenditures, and balance your debts. This way you will know what to save. If you have no idea how to do this, don’t worry find help with payday loan debt consolidation firms as a way to start.

You aren’t Saving and Investing

For your money to grow and for you to enjoy ideal financial stability you must invest the money or learn to save. If you invest your money will work for you. Saving begins with knowing your expenditures and designing the right budget for your use. But don’t leave your money so idle in savings accounts. These accounts accrue so little interests that you might end up gaining nothing at all by leaving them so idle in your account.

Transferring Your Loans/ Debts

One major problem I have with guys is transfer of loans. People who trade in their cars for new ones end up transferring so much that their loaning bulk ends up overwhelming them. Once this happens you build up huge loans that you can’t quite settle easily. Same applies to payday loans such as bank loans, mortgages, and direct car loans. Use payday loan assistance including consolidation firms to help you walk out of such.

You are Addicted To Bad Habits

Costly or expensive habits include smoking, drinking, and gambling. Simple truth, these ones will drain you. No hard feelings but that’s just it. A packed of cigarettes a day when calculated annually will give you a whooping amount of money. Save yourself from debts by walking away from them. Find ideal smoking and drinking cessation therapies.

Carrying High Interest Debts

High interest debts are bad debts. Debts from angel investors, shylocks, financial institutions and such can become bad when they have high interests attached to them. Students’ loans and mortgages could qualify as good debts because they have low interests attached to them. Bad debts are car debts and credit card debts. Look at your interest’s rates before taking the debts and possible find out how to dispute credit report errors if you’ve got any.

Don’t whine about how broke you are. Hell no! Choose the very best financial habits today and develop a very strong financial principle. They have worked for me before and today I can gladly recommend any of them for anyone.


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