9 Money Habits That Keep You Broke (And How to Break Them)

on
9 Money Habits That Keep You Broke (And How to Break Them)

9 Money Habits That Keep You Broke (And How to Break Them)

Let's be real—nobody plans to stay broke. But the truth is, your daily habits decide whether you'll build wealth or keep struggling.

1. Listening to Broke People

Imagine taking diet advice from someone who eats fast food every day. Sounds ridiculous, right? Yet we do this with money all the time.

The Fix:

  • Find people who've done what you want to do
  • Hire experts (like a fitness trainer for your finances)
  • Surround yourself with people slightly ahead of you

2. Ignoring Your Bank Account

I used to avoid checking my balance like it was a spoiler for a bad movie.

How to Fix It:

  • Glance at your accounts every morning
  • Get texts for low balances or weird charges
  • Use budgeting apps

3. Chasing Get-Rich-Quick Schemes

I once lost $100K on a "too good to be true" real estate scam.

How to Actually Get Rich:

  • Learn something people pay for
  • Solve real problems for businesses
  • Start small by selling anything

4. Trading Time for Money

If you don't work, you don't get paid - that's the trap.

The 3 Levels of Income:

  1. Employee: Time → Money
  2. Entrepreneur: Pay others for time
  3. Investor: Money → More money

5. Buying Stuff to Impress People

Fancy things don't make you rich—they make you look rich.

How to Avoid This:

  • Sleep on big purchases
  • Try keeping cash without spending it
  • Ask if you'd buy it if no one saw

6. Impulse Spending

Every impulse buy is a vote against your future self.

Try This:

  • Tie purchases to goals
  • Consider the opportunity cost

7. Pinching Pennies Instead of Buying Time

Be cheap with things, generous with time.

The Math:

  • If you make $50/hour, paying $20 saves you $30
  • Use saved time to learn or earn more

8. Only Saving (Never Investing)

Skipping lattes won't make you rich.

Where to Invest Early:

  • Skills and education
  • Your network
  • Time-saving services

9. Making Money the Goal

Money without purpose is just paper.

How to Fix It:

  1. Help others with your money
  2. Find your deeper "why"
  3. Give back

TL;DR—How to Stop Being Broke

  1. Take advice from rich people
  2. Check your bank account daily
  3. Build valuable skills
  4. Stop trading time for dollars
  5. Buy for utility, not status
  6. Control impulse spending
  7. Invest in time-saving
  8. Grow income, not just savings
  9. Connect money to purpose

Comments

Post a Comment