Let’s face it, having money makes you really happy. It solves your needs and wants, but how you spend it matters.
If you don’t have a job, obviously, you’ll be broke. If you do, whether as a freelancer or a salary earner, you might find yourself broke before the month ends, no matter how much you earn.
It’s easy to say, “I just need more money” or “things are so expensive now,” perhaps as an answer to all your money problems, but sometimes it’s not about how much money comes in but how you spend it.
Here’s why you are always running out of money:
1. You have an expensive addiction or vice
Imagine you are addicted to weed, alcohol, alcoholic bitters, or gambling. When you look at your daily, monthly, or weekly expenses, these expenses always come up. The painful thing is that these addictions don’t add anything valuable to your life. You may think you are enjoying your life, but you are affecting your health and wallet.
2. Borrowing money
When you borrow money, you are always in a deficit, which means every money you have goes into settling your debts.
The worst thing you can do is borrow from loan apps and loan sharks, no matter how small. You currently have no hope or plan to get some money, so why are you borrowing to load data to scroll on Instagram? These people are vicious when it’s time to collect their money.
3. You love expensive and quality things
You don’t need a Rolex watch. You are addicted to the best of the best things; you can’t be caught wearing anything that’s not original. While buying cheap knockoffs, for instance, buying ‘Pima’ instead of Puma is frankly tacky and unnecessary, you can shop thrift or buy non-branded items instead; you don’t always have to reach for luxury.
4. You are living for social media approval
Nothing drains your money more than feeling the need to measure up to other people’s lives. Being online is fun, but one thing it will cause is chronic discontentment and the need to try new things. You will feel compelled to visit restaurants, travel to places, and buy the latest trendy gadgets—things you don’t need. I even know people who can’t take pictures with outfits they’ve posted online before.
5. Lack of discipline
In a perfect world, you can buy everything you want, but not in this world. You have to separate your needs—essential needs from non-essential. It’s important to save money for your rent, but it’s not important to plan a vacation.
There are some things you have to say no to and others you have to say “I’ll get it later.” Plus, sometimes you have to manage what you have. Instead of eating everything today, save some for tomorrow.
