How to stop being broke

No one sets out to become broke. A loan here, a bad investment there, and a couple hundred swipes of the credit card later—we’re busted, and we have no idea how we landed in this state.

You don’t have to be living out of your car to be broke.

Broke is living paycheck to paycheck with no savings intact. Broke is being in debt up to your eyeballs. Broke is buying a brand-new $30,000 car because you can “afford” the monthly payments but not having enough in your bank account to cover a $1,000 emergency.

The funny thing is, we live in a culture that calls this type of living normal. But we don’t do normal here. We believe in being weird.

Want to break the mold and live like no one else? Here are some action steps you can take to turn the tide.

Live on Less Than You Make

Take a hard look at your take-home pay and outgo each month. Make a monthly zero-based budget and you might be surprised by how much extra dough is slipping through your hands.

You can pay off debt faster! Get started with a FREE trial of Ramsey+.

Grab that money and tell it where to go. You might just feel like you’ve given yourself a raise!

Increase Your Income

Look for side jobs you can pick up—dog walking, delivering pizza, freelancing. Or is there overtime available at work you could take on? Maybe it’s even time to get up the guts to ask your boss for a raise.

If you feel like you’ve reached the end of the road in your current field, consider looking at new career paths that may generate more income.

Begin With the End in Mind

Instant gratification will get you into trouble time and time again. If your potential purchase isn’t in the budget, back away slowly. Remember that making minor sacrifices now will pay off in the long run. Know what your end goal is, and then go after it!

Do the Math

A stay-at-home parent could consider going back to work, but look at the potential income versus the expense. Would day care costs rival the income amount of the new job? Be sure to crunch the numbers and see where you land. And don’t forget the things that can’t be seen in monetary value, like health care benefits, company reimbursements/discounts and other perks.

Be proactive! If you aren’t satisfied with your current situation, take a practical step forward. Submit your resume for that ideal job you’ve been dreaming about . Sell the car . Open your eyes to the need for change and then make it happen!

Need help jump-starting your budget? Check out our free budgeting app EveryDollar, and start telling your money where to go.

How to stop being broke

About the author

Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.

Stop The Excuses Of A Person Being Broke To Reject His/her Relationship Proposal – Romance – Nairaland

It’s okay to have a list of the qualities you want in a person. but it is fair to say that you have to measure up as well to whatever qualities you expect from anyone.

If you are broke then you have no moral grounds nor ethical reason or right to turn down or refuse a relationship/marriage request or proposal on the emphasis of that person being broke. This shouldn’t be part of the things to consider, unless you can do better.

Am I right or wrong guys

"I want A Man who is 6ft tall,had 38 packs on his chest,has 6 cars and 9 mansions in lekki and banana Highland"

Ok so what do you have to offer him?


It’s okay to have a list of the qualities you want in a person. but it is fair to say that you have to measure up as well to whatever qualities you expect from anyone.

If you are broke, you have no right to turn down or refuse a relationship/marriage request or proposal because a person is broke. This shouldn’t be part of the things to consider, unless you can do better.

Am I right or wrong guys

why should a broke person be making relationship/marriage proposal

Guy go and hustle, stop deceiving yourself, no body want to live in abject poverty, you’re broke and you’re thinking of proposing? How do you wanna build your family? How do you wanna raise your kids? Don’t their future matters to you?

Do you even have dreams atall
A man with dream will never think of proposing while broke.

I’m not saying you have to be rich, please be sufficient at least.
The broke part issa no.
I’ll automatically conclude you ain’t a dreamer if you propose to me while been broke

Guy go and hustle, stop deceiving yourself, no body want to live in abject poverty, you’re broke and you’re thinking of proposing? How do you wanna build your family? How do you wanna raise your kids? Don’t their future matters to you?

Do you even have dreams atall
A man with dream will never think of proposing while broke.

I’m not saying you have to be rich, please be sufficient at least.
The broke part issa no.
I’ll automatically conclude you ain’t a dreamer if you propose to me while been broke

This Should also apply to the ladies because we are now in the Era of Gender equality where Men and women now have the same roles,rights and Opportunities.

So a broke woman shouldn’t even put marriage on her mind.

why should a broke person be making relationship/marriage proposal

for a lady like Toke Makinwa. she’ll see u as broke even if u worth 5 million naira. that’s my point

for a lady like token makinwa. she’ll see u as broke even if u worth 5 million naira. that’s my point

Normally,woman wey reject my proposal Simply because say I dey broke na better favor she do me. She has successfully rescued me from shooting Myself by my leg.
I see

why should a broke person be making relationship/marriage proposal

"I want A Man who is 6ft tall,had 38 packs on his chest,has 6 cars and 9 mansions in lekki and banana Highland"

Ok so what do you have to offer him?


You just described my type of man

Sorry but I can’t and won’t settle for less. Trophy wife in the making ✌️

June 6 By Corrie C This post may contain affiliate links. See disclosure policy linked in my footer.

How to stop being broke

How to stop being broke

No one likes to be broke. Unfortunately, many people live paycheck to paycheck. It’s an uncomfortable lifestyle that can leave you feeling uneasy. The good news is you can do something about it. Whether you create a budget or shop with intent and purpose, you can stop being broke. Let’s take a closer look.

Create a Budget

For two months, take the time to write down every bit of money you spend. You want to track your expenses so that you know exactly where your money goes each month. Once you see what you’re spending money on, you can create a budget.

Be realistic. There are some things you can cut and some things you can’t. For example, trying to feed a family of four on $100 a month isn’t realistic. However, cutting back to eating out once a week is.

Cut Unnecessary Expenses

Another benefit of tracking your expenses is you can determine where you’re spending money that doesn’t make sense. For example, you may be paying for a service that you hardly use. Or, there may also be ways to do the same things for less. For example, you might decide to switch to Straight Talk to save money on your cell service.

Shop with Intent and Purpose

How often do you buy things just because you like them? Your home may even be filled with purchases you regret making. When you go shopping, shop with intent and purpose. Think of the things you need before you go shopping, make a list, and stick with those items.

Avoid window shopping or browsing sections you don’t need anything from. Before you buy something, determine how you’re going to use it. If you don’t have a purpose in mind, you don’t need it.

Pay Ahead on Bills

Whenever you have extra money, pay ahead on your bills. You can actually save money by paying some bills a year at a time. Some companies will give you two months free for paying in advance. This also gives you more money during the month. Put that money away so that you can continue to pay bills a year at a time.

Stop Using Credit

Last, but not least, stop charging to your credit card. Carrying debt makes it impossible to get ahead. If you find that you depend on your credit cards to pay some of your bills, you need to cut expenses, move to a place with a smaller payment, etc. You should not have to rely on credit cards to meet your monthly obligations.

If you want to stop being broke, you need to be financially responsible. It may be hard at first, but you’ll soon adopt good habits that will allow you to get ahead and have money in the bank.

“I just got paid and I’m already broke.” Does that sound familiar? There are tons of memes that revolve around that first sentence; that’s how you can tell it’s a widespread and shared problem. However, it is possible to get out of that vicious cycle. Here’s what to do:

How to stop being brokeSet a SMART goal

First, determine what your goal is. Is it to build up emergency savings or save for a trip or pay down debt? While it’s completely up to you, I suggest choosing a goal (or goals) that will have the most positive impact on your financial situation. Whatever you decide, your goal should be specific, measurable, attainable, realistic, and timely.

Track your spending

One of the biggest issues people have with their budget is that they don’t know where their money goes. It’s important to track your spending for at least a month to get a good idea of how you spend and where it all goes.

Create a realistic spending plan

Once you’ve determined where your money goes, it’s time to create your budget or spending plan. In order to achieve your financial goals and to not feel broke, you will likely need to pick areas where you can reduce spending. That may sound painful, but what’s worse: having to cut back on the little things or always feeling perpetually broke and not being able to do what you want? Plus, reducing doesn’t necessarily mean completely eliminating. So look at non-necessities like cable, memberships, entertainment, dining out, coffee. If you get coffee from a coffee shop once a week, eliminating that could save you $20/month or more. Every little bit helps!

Stop keeping up with the Joneses (or trying to)

So many times we feel bad about our situations because we’re comparing ourselves with others. Social media doesn’t help either because we can see every hour of the day what we’re potentially missing out on. We need to quit worrying about that and focus on ourselves because everyone is in a different situation. Plus, that friend that just went to Grand Cayman may have charged it all on a credit card and will be paying it off for five, 10, or maybe even 15 years. The grass isn’t always greener even though it may seem like it.

Create a plan to pay off debt

Credit card or other debt may be what’s holding you back from really enjoying life. Having to make debt payments can prevent you from being prepared for emergencies, going to that concert, getting that massage, and much more. Plus, it’s just plain stressful worrying about debt. Paying it off will give you some breathing room and will help you achieve your financial goals even faster.

LSS Financial Counseling offers free financial counseling. We can help you create a plan to conquer your debt, possibly with a Debt Management Plan, which would help you pay off debt faster and save money. Call us for your free session at 888.577.2227 or click to GET STARTED ONLINE.

How to stop being brokeStart saving

If this isn’t one of your goals right now, it should be soon. Having an emergency savings account can be the difference between paying for that broken appliance or vet bill versus having to purchase something on credit, which creates debt and another monthly payment. So start saving – no matter how small. Setting up automatic deposits into a separate savings account is the best way to save. But, it’s not the only way. Save change or what you reduce in spending, set that aside each week or month. Then, if you get some kind of windfall, like a bonus or tax refund, consider putting at least half of that into savings. You can also look at selling things you no longer need/use to build up savings.

Get your family/friends involved

Include your partner/spouse/kids in the activities to achieve your goals. It will keep everyone accountable and teach your kids smart money habits. Or create a financial challenge with your friends and see who can save more by a certain date. You’re more likely to be successful if you have some support. Not to mention if your friends/family know you’re trying to save money, you can do things together that won’t break the bank.

It’s no fun to feel broke all the time and it doesn’t have to be that way. You need to create a plan, take action on it, and then stick to it as best you can. And nobody is perfect, so if you stumble a little bit just get back to working on your goals when you can.

Author Elaina Johannessen is a Program Director with LSS Financial Counseling.


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Being broke is the absolute worst way to live life. Living paycheck to paycheck can be very stressful and place one in a loop of mental and emotional turmoil. It may seem like you will never leave the situation but it’s also important to understand there are measures you can take to stop being broke.

Create A Financial Plan

How to stop being broke

A financial plan is the best way to stay track of your finances. Create a financial plan to help you make short term and long term goals for yourself. If you create a financial plan that you can stick to and prioritize the things that matter the most, you’ll be saying goodbye to the broke life in no time.

Live Below Your Means

How to stop being broke

The use of credit cards has normalized living above one’s means. Try your hardest to live below your means, convince yourself you make less if you have to. This enables you to make less harmful money decisions and avoid spending unnecessary money.

Chose Savings Over Convenience

How to stop being broke

It may seem tempting to eat out, order an Uber or having your groceries delivered to you but it’s important to avoid such practices. Use any extra money you have towards saving and acquiring your financial goals instead of wasting it away on things you do not need.

Sacrifices you make to financial independence may seem drastic but are completely necessary if you aim to have a better quality of life. If it’s weighing you down, there are ways to become debt-free, even on a small income.

How to stop being broke


This life certainly likes to push us to our limits, but sometimes, it all seems like too much and we fall into a black abyss of despair and hopelessness.

Feeling broken doesn’t mean that you should just give up entirely, however; it just means you need to take a step back and let those feelings come to the surface.

We all feel broken from time to time, because life can seem heartbreaking and terrifying when we go through certain experiences. These life lessons only make us stronger and more capable of dealing with life, though, so use your brokenness as a gift that will help you grow as a person.

How to stop being broke

1. Remember that cracks allow light to come in.

If you didn’t become broken from time to time, there would be no place for the light to enter your soul. Basically, it takes awful, heart-wrenching experiences for us to see all the good in the world sometimes, and for us to go through a transformation of the soul. If we just had positive, uplifting experiences all the time, we would have no room to grow and no life experiences that would challenge us to become more resilient, powerful people.

You can’t expect life to grant you an easy ride; if it did, you would miss out on life-changing experiences that would break you open, tear you apart, and rebuild you into a better version of yourself. Many parts of ourselves open up when we feel broken, so remember this any time you feel exhausted and utterly shattered by life.

2. Remember to accept and honor your feelings; don’t fight them.

Don’t feel bad for having negative or heavy emotions; if you didn’t, you wouldn’t be human. Certain experiences warrant a strong reaction from us, and sometimes that means crying, screaming, falling to our knees, and just accepting the waves of emotion that come over us. Keeping all of this balled up inside will only backfire in the end, so don’t ever keep your feelings hidden for fear of other people’s reactions. Fighting off your feelings will only delay the breakdown, and you’ll walk around feeling the weight of the world on your shoulders. You must walk bravely into the place within you that harbors these deep emotions, so you can begin to work through them and figure out what they want you to take from all you’ve been through.

3. Keep remembering your “why.”

During hardships, we often forget what we even want from life in the first place. We all came here to love with all of our hearts, and increase the vibration of this planet in unison. When you feel broken, you can easily overlook or forget your mission here on Earth, but going through hard times actually gives your purpose more depth. If you didn’t go through unpleasant experiences, you wouldn’t be able to relate to so many other people on this planet who go through hard times almost every day. Keep your “why” in mind, and reflect on how the negative situations you’ve encountered allow you to have a more well-rounded perspective and better serve your purpose on Earth.

4. Remember everything that exists beyond your brokenness.

Just because you feel broken, does not mean the whole world shares your perspective. It does not mean the entire planet must go down in flames because of one bad day or experience you had, so remember to broaden your perspective next time you go through bad times. Think of the fact that you still get to breathe fresh air, see the clouds float by on a sunny day, feel the wind on your skin, smile at a stranger..think of all these beautiful little things you can still do even though you feel broken. Remember all of the good things happening on the planet despite your temporary slump, and the whole world won’t look like such a dark place anymore.

5. Remember the friends and family that are there for support.

When you feel down and out about life, your friends and family will comfort you and be your rock when you need them. Don’t hesitate to ask them for help, because we all need some assistance when we go through a rough patch in life. If you feel like a burden on them, just remember all the times you were there for them; the people who care about you would gladly do the same for you.

6. Remember to focus on the things that bring you joy.

So often when we feel broken, we focus our attention entirely on our despair and forget about the things that bring us happiness. Go out and get some sunshine, plant some flowers, ride your bike, catch up with friends over coffee, or simply anything on this Earth that makes your heart light up with joy. Just because you feel broken, doesn’t mean you have to spend every waking minute of your life mulling over your feelings and wallowing in a sea of turmoil.

7. Don’t identify so much with your feelings.

Remember that you don’t really own your feelings or thoughts; they just come and go as they please, and you just get to watch them make an appearance, even if you didn’t invite them in. Think about this: you consciously invite friends and family over to your house, but you don’t knock on the doors of your emotions and give them an invitation to your brain. It just doesn’t work that way, so remember that you don’t have to identify with your feelings. You are SO much more than your temporary emotions, so don’t let them control you.

8. Remember that life is a series of ups and downs, and this is only temporary.

Just like your emotions, this whole ride we have been thrown onto since birth only exists for a short while. We take it so seriously, yet overlook the fact that we don’t get to spend forever in this existence. Enjoy it while it lasts; yes, even the hardships and despair, because when you look back on your life, you will thank your brokenness just as much as your happiness for all it taught you on your own personal journey.

Some of us have that relative or friend who is always complaining about finances and often asking for a raise. These people have sources of income, but it seems like they have the longest list of bills to cater for. Some other times, it seems they are perpetually broke. In some instances, many of the ‘pipes’ draining their resources are just frivolities that can be avoided. We often try to avoid them, because they keep asking for loans they may not pay back.

Yes, due to the economic situation, our incomes can only get us fewer things than it used to, but this calls for stricter measures and greater level of discipline. To avoid making enemies out of our kinsmen, here are some habits of perpetually broke people to consider in our financial planning:

Trying to Measure Up

Among our friends, relatives, colleagues, we want to look the best and have the best. The temptation to be carried away by their outward appearance, without considering how they achieve their lifestyle is high. You want to attend all the parties with them, wear the expensive collective attires, aso-ebi and so on. Trying to match and beat them in terms of possessions is a futile chase that could hurt you financially.

Binge spending/Impulse spending

Having a budget and sticking to it is one of the foundations of financial improvement for anybody or organization. While some unexpected expenses may creep in once in a while, buying things just because we feel like really does more harm than good to our finances. If the item is not in the budget in the first place, it is likely to be a luxury you can ill afford at that moment (except in emergencies), and more often than not, they are things you don’t really need. Binge spending is likely to leave you with a lot of unwanted goods, and a low credit balance.

Failure to have a plan

Nothing meaningful can be achieved without a sense of purpose. It is important to know what the goal is, and more important to device a plan on how to achieve that goal. Probably most important, though, is the actual and timely implementation of that plan. If any of these steps are delayed, financial improvement may be delayed as well.

Indiscriminate lending

It’s good to be charitable, to help people out and all that. However, as with all things, when this becomes uncontrolled, you may find out that you work hard, earn more but have less. An elderly man once said, “Only lend a person the amount you know you can gift the person.” Why? Borrowed funds may never come back. What is more, those that you borrow have an invisible network you don’t know about. You’ll suddenly become a cash machine for them.

No savings

Life is not a bed of roses; and when the thorns come, they can cause deep wounds financially. The culture of saving is not entirely popular in Nigeria. However, if you are going to avoid being frequently broke, you must make sure that you develop this culture. These savings are what will help you stay afloat when the tide turns. Similarly, savings help in achieving goals, which leads to progress.

Lack Financial Literacy

Now, we are not talking about having an MBA in Banking and Finance. This is simple like being able to separate your profits from earnings, developing a budget, creating a scale of preference etc. If you cannot do those tasks fairly easily, you are likely to be stuck in the same position for a long time.

How to stop being broke

Miriam Caldwell has been writing about budgeting and personal finance basics since 2005. She teaches writing as an online instructor with Brigham Young University-Idaho, and is also a teacher for public school students in Cary, North Carolina.

Barely making ends meet and struggling to provide for just the necessities can be exhausting. When you are in this situation, it may seem difficult to find a way out, especially when you are living from paycheck to paycheck with nothing extra left to try to fix the situation.

Follow these five steps to take control of your financial situation.

Start Budgeting

You may think that you don’t have enough money to budget when you are counting every penny, but you’re wrong. Budgeting is planning how and when you are going to spend every penny. In short, it means that you know where you are going to spend your money before it comes.

Budgeting allows you to plan for expenses in advance and to start to put money aside for the bigger expenses that may come just once a year. When you are budgeting, you can also track your spending trends. This can let you choose areas where you may be able to reduce if you need to cut back or save for a long-term financial goal, like an emergency fund.

A successful budget will also give you the information you need to help you manage your money more wisely. It can also help you identify your problem areas; you can change strategies and find ways to save on those specific expenses.

Follow these five tips if you are tired of being poor and want to turn your financial situation around.

Find Ways to Earn More

If you are not making enough at your current job to cover your necessities and save money, then you need to find a way to increase your earnings. This may mean taking on a second job to help you catch up on your overdue bills.

It may also mean looking at a long-term career change that will allow you to make more money. Going back to school for additional training is a good option. If going back to school does not appeal to you, look at jobs in your field or a similar field that offer higher pay.

Some trade jobs offer competitive wages and have better job security than traditional jobs that college graduates take.

Explore your options and consider changing your employment situation to earn more money.

Make Saving a Priority

Start saving money now. There are two ways you need to focus on saving. First, put money into a savings account that you will not use except for emergencies. This is called an emergency fund. You may start by putting aside but $20/week. This is as simple as eating at home one night a week or skipping the movies.

Over time, you should increase your contributions, until you have an emergency fund that will cover between three and six months’ living expenses. This is your safety net. Here’s why you need one: It is easier to make financial decisions when you know you have money in the bank to cover emergencies.

Second, focus on finding ways to save money on the things you already do. Look for coupons and deals for your area. Do not pay full price for something and check at a few different stores before you buy something. Save money by eating in, or joining a club store to get better deals on food and other household items.

Smartphones make it easy to price shop once you find something to make sure you are getting the best price on it.

Stop Using Credit Cards

If you want to stop being poor, you need to stop creating debt. The first step is to stop using your credit cards. The easiest way to do this is to stop carrying them with you. If they are at home, you cannot use them when you go shopping.

An emergency fund can help you stop using them because you will have money to cover the unexpected expenses rather than falling back on your credit cards.

Get Out of Debt

You cannot begin to build real wealth when you are paying more in interest than you are earning in interest. If you want to change your situation, you need to take the steps that will help you get out of debt.

First, make a plan to get out of debt. Once you have your budget set up, you can begin looking for extra money to pay off your debts each month. As you pay off one debt, take that money and apply it to the next debt on your list. Once you are debt-free, you will have more money available to start building financial security.

Frequently Asked Questions (FAQs)

How do I know if I'm poor?

If you want to know how your financial situation stacks up against your peers, you can use poverty guidelines as a benchmark. The most commonly used poverty guidelines are set by the Department of Health and Human Services (except for Alaska and Hawaii, which each have separate federal poverty guidelines).

How many poor people are there in the world?

According to the most recent World Bank data, roughly 9.3% of the global population lives under the international poverty line of $1.90 per day. However, these figures haven't been updated to reflect the impact of the COVID-19 pandemic. The pandemic is expected to significantly increase the number of people facing financial insecurity.