When you come to that conclusion, that utterly disappointing, ridiculously frustrating conclusion, when you realize that you’re essentially broke, you have hit a financial crossroads.
You can overhaul your entire budget, the process, how you look at money and start cutting expenses in order to save money.
And then, there’s the other 50 percent.
Those individuals continue to feed themselves the same line of public relationship rhetoric, the stories that suggest that money is hardly the issue, and there’s really no problem whatsoever. And with that, they continue to do more of the same foolish financial moves that put them ironically enough in this situation to begin with, whether that’s spend more than they make or ignore any semblance of budgeting.
Splurging actually, according to various public reports, occurs more when you’re out of money versus when you actually have it. The mindset must be that those who have money saved like the bottom line they stare at on a regular basis, and if you don’t have any money saved at the moment, why does it matter if you flash some serious plastic (in the form of credit cards) and start spending.
Those who follow that trajectory assume that the harm is already done, so what’s the point of caring about it now? The truth is that if you’re broke, credit cards can help you through some lean times if they are necessities. But they aren’t meant for shopping sprees or vacation, because you’re just so stressed about your money situation (yes, that’s more irony of spending on credit cards with money you don’t have).
Just to qualify, the term “broke” means different things to different situations, such as not having enough money to pay your bills or having no money in the bank and living paycheck to paycheck. The term itself is used for a variety of circumstances.
The fact remains that when you are in those situations, you can adjust how you spend so that you can save or make it a point to rethink your situation as a whole.
What tends to get those who are “broke” in trouble is that they don’t change. Nothing about how they spend is different, including making it a point to still spend money on things you don’t need or convenience. The latter can be described as spending money eat out at restaurants, while things you really don’t need could be as simple as cable television bills or that weekly trip to the spa.
Cutting back is a reality most want to forget about it, but that could be the difference from being broke to breaking free of your money woes.
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