Money makes the world go round and being incessantly broke is not fun at all. You might want to blame the situation on everything around you but yourself. However, most often, the problem is with you. Find out why.

1. You are living beyond your means

If you live a lifestyle that is not commensurate with your earnings, then money will not stay in your pocket no matter how hard you work. People who live beyond their means have to borrow in order to maintain their expensive lifestyle and this becomes a toxic cycle. Start small, work hard and you will one day live that big life you have always dreamt of.

2. You don’t have financial goals

You are more likely to spend your money wisely when you are saving for something. Ask yourself why you are working so hard on your finances and the answers could give you a clue on what you want. Is it a house? Or a car? Or to go back to school?
Whatever it is, find out how much it will cost you and decide how much you will be putting aside to help you achieve that goal. Also, don’t fall for the tricks employed by sellers to seduce you into buying what you don’t need or buying more than you had intended.

3. You have entitlement issues

Many people want white collar jobs and as such give a wide berth to blue collar jobs. Ironically, white collar jobs are shrinking by the day while there is a growing demand for blue collar jobs. If an office job is long in coming, roll up your sleeves and be prepared to do that which has demand especially if you have knowledge about it.

4. You compare yourself with someone else

This is a financial crime that many people commit, sometimes even without their knowledge, to the detriment of their pockets. You don’t have to go out every Friday or own a car just because your friend has one. Learn to prioritise your finances so that you stay on track with your goals. Resist the urge to keep up with the Joneses and as they say, stay on your lane.

5. You complain a lot

Pity party will never see you out of begging or borrowing. You need to wake up, strategise and start working towards your goals, free yourself from debts as well as putting more money in your pockets. Put measures that will see your budget go down so that you can save a part of your earnings. If possible, delete all the mobile loan apps on your phone as soon as you pay off the debt.

6. You don’t pay attention to your money

Once you get paid, always sit down with a pen and a paper and plan for it. Failure to plan for your money since you have more problems will not help you; it will only make the situation worse.

7. You don’t pay yourself

Even before you start paying your bills, always make sure you pay yourself a certain percentage of your earnings. Paying yourself first means putting a portion of each paycheck into a savings account before dividing the rest to cover expenses. You can either pay yourself on a daily, weekly or on a monthly basis depending with how regular your income is.

8. You are in big debt

Debt will always pull you behind and sabotage whatever effort you put in place to be financially free. The only cure to debts is to pay them and pay them right. Allocate the highest amount to the debt with the highest interest while the one with the least interest gets the least amount. Loans with high interest grow the fastest.

9. You are waiting for a saviour

Some people think they will one day get a good job and live a better life or even start a business to save them from their situation or worse still, win a lottery. While there may be some truth in it, we should not put all our hope in the future. Let’s do what we can today as this will help us live a stress free life. Only you can save yourself from the financial mess you are in and this will be determined by what you are doing now.