Making substantial amount of money daily is everybody’s goal and fantasy to live a fulfilling life. Everybody is waking up each morning to go to work or business to earn an extra shilling to pay bills. But many people are still stuck in behaviors and routines that keep them broke day in day out.
Reasons why you are still broke
Fear to take risks
In nearly every day to day undertaking, a certain degree of risk is involved to gain or meet a financial goal. Many people fear to take a loan from a bank and finance their business with a fear of failure to repay back. Taking a financial risk is the ultimate way to get out of being broke.
Failure to set money goals
Setting money goals is a great way to prosper financially as you will have a target to achieve. Setting a goal is a driving force that will power one to beat all odds to meet the set goals. Failure to set money goals will lead one to relax and not mind about prospering financially as goal setting is a great way of building wealth and financial success.
Failure to have a money plan
Not everybody who earns good salary or profits use money well. Many earn a lot of money, but they do not have a plan for their money which leads them to spend inappropriately. They mostly invest most of their money in non-profit making ventures like leisure, drinking and others which leave them broke all the time.
Being overly stuck in a debt trap
A good number of people are paying their debts daily or monthly and most of them have been caught up in debt paying to the extent that they don’t get extra or enough money to finance their projects. Some people are desperate for money and end up using their credit cards every time leading to debt slavery.
Spending more than you are earning
Many people tend to live a lifestyle that they do not afford and end up spending more than they are earning. This will lead one to accumulate a lot of debts that will end up selling properties to finance his/her lavish lifestyle and pay loans. Failure to regulate spending will lead one to become broke.
Despite many people having high paying jobs and good businesses, they are still broke because they lack proper planning and how to put their money into good use thus end up broke all the time.…