8 Reasons Why You Are Always Broke Before Payday

8 Reasons Why You Are Always Broke Before Payday

Are you one of those people who eat chicken in plenty at the beginning of the month, eat products of chicken (eggs) in the middle of the month, and eat like a chicken towards the end of the month (scraps of last night’s cabbage)? Yes, it happens, and no, that should not be the case.

Anyone should be able to eat comfortably throughout the month. Remember, the basic needs are always food, shelter, and clothing. The end-month bug is nasty AF. It calls to you to go impulse buying and to places you can barely afford. Here’s why you are always broke before your salary hits the account.

 

1. You do not have a monthly budget

Reasons Why You Are Always Broke Before Payday

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Having a financial plan does not make you a sucker. Neither does it have to make you feel like you are lacking basics (and that’s why you are making a budget). It just means that you are spending your money wisely. Do the budget and buy the necessities before spending money on dumb sh**. You will save more.

 

2. You only shop for brands

Reasons Why You Are Always Broke Before Payday

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Brands can be expensive. If you love brands that much, stick to buying brands occasionally. Try shopping the everyday-normal stuff other times. If you cannot afford Giorgio Armani suits for every day of the week, mix up your closet with cheaper clothes. You will be surprised. People barely notice. If you cannot afford original Luis Vuitton heels for every day of the week, identify a shop that sells something close to the original and mix it up with the originals.

3. You spend like there’s no tomorrow

Reasons Why You Are Always Broke Before Payday

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Buying expensive things makes anyone feel good, but until you take your time to reflect on the amount of money you spend, you will never know which hole your money gets sucked into. Once you free yourself from buying expensive stuff, you gradually realize that you can live without it. Spend money like you are poor, and you are likely to get rich. In short, just live below your means. Emancipate yourself from mental slavery and from creating an image for people to see.

4. You do A LOT of impulse buying

Reasons Why You Are Always Broke Before Payday

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If you often buy things you do not need, you need to take a step back and reflect on how all those items you have purchased have improved your quality of life. Impulse buying is buying things that were never on the budget. Will a sh. 200 loaf of bread improve your quality of life; probably not. A sh. 50 loaf of bread serves the same purpose; unless your doctor recommends a strict kind of bread. Will a sh. 1500 lunch improve your quality of life; probably not. A sh. 200 meal will do just fine; unless you are on a special, special date. There will come a time when that sh. 1500 lunch will be chump change; by that time you will be running for a parliamentary seat.

 

5. You do not save for emergencies

Reasons Why You Are Always Broke Before Payday

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No one knows about tomorrow; you could lose your job or something. It is wise to have a savings account; just in case of anything. If you are afraid it is going to be difficult for you to save, open a savings account that only allows you to withdraw after a period of time. This way, the only thing you will be doing to that account is depositing. Have enough money in one account for 6 months’ rent. Your net worth is how long you can survive without a job. Scary; isn’t it? Not many people can survive without a job.

 

6. Going for drinks after work is normal for you

Reasons Why You Are Always Broke Before Payday

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If you go to the club after work, you need to cut back on the hours and money you put doing that. Try to stay away from the club after work for two months, and you will be surprised to see the changes it will cause in your bank account.

7. You are living a fake life

Reasons Why You Are Always Broke Before Payday

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Many people are enslaved by what people will think of them. People will go as far as buying things that they don’t need, but deep down they know they no savings. It’s advisable to be yourself and live a life you can afford.

8. You become too generous

Reasons Why You Are Always Broke Before Payday

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Being generous is good, but when you take it too far, it beats the purpose. Are you that person that buys lunch for everyone, every other day? Do you find yourself “throwing rounds” every other day? Take a step back and assess whether you can afford it. Give according to your ability. Do not leave yourself vulnerable for the sake of pleasing everyone.

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