One of the most common statements that I have heard from people of different ages is, “I am dead broke.”

Is this a statement you say often?

As much as that could be true, why are you broke and what could you do differently to change that?

Is it bad spending habits or your expenses are higher than your net income. Whichever the case is, those are genuine answers.

If you’re tired of just getting by and living paycheck to paycheck then this post is for you. I’ll talk about the best tricks that will prevent you from being broke again.

1. Get Rid Of The Broke Victim Mindset

I once heard someone said that when you reach the age of 15 you’re responsible for your life.

That hit me so hard that I felt a bit of resentment. To tell me that I am in debt or broke – is because of me or the choices I made, didn’t sit well with me.

But as I look at my life, I would blame my parents, then government, society, and whatever I can to why I didn’t achieve the things I so desired.

That was the beginning of the broke victim mindset.

Your excuse could be that you grew up dirt poor or didn’t get a college education. But I can assure you that others have been through that and never allowed that situation to stop them.

Putting the blame on the government and your boss for why you’re broke will never change anything.

So guess what, let’s change our mindset and take control of our finances.

Money works with who works with it. In other words, money is not a respecter of a person.

2. Plan Ahead

Take a journal and let’s do some self-talk. The first step to changing your broke lifestyle is planning with what you have right now. Not with what you’re going to have.

So you need to know where you are in your financial journey right now.

You need to figure out how much you earn and how much you owe. The only financial goal you must have is to increase your earnings and decrease your expenses.

You’ll definitely need a budgeting template for this one or you can make your own.

Based on your results, you’ll know whether you should feel remorse or happy.

This step is important as it helps you to know what changes you need to make presently and create a blueprint for your life.

3. Increase Your Income

Now that you have an idea where you are, you can then find ways to save money even in your broke state. So how do you save money while being broke?

It can be hard to start saving money especially if you already can’t make two ends meet.

Sometimes the solution is to find a way to make some extra cash. The quickest way of earning extra cash is through surveys.

Whether that means to sell an item that you no longer need or find a side hustle. Then you add that money to some kind of savings.

Guidelines for saving:

  • Decide on what you want to save for. Is it an emergency fund, a house, travel, or education?
  • Then decide on the amount you want to save on.
  • Make a plan and start saving for those goals.

4. Look At Your Expenses

When you reduce your expenses, you’ll reduce the likelihood of going broke.

It’s important to track and control your spending.

You can find ways to save on groceries, utility bills, or find ways to enjoy yourself for free.

If you have created a budget already then you may see where you need to reduce your expenses.

I’ll recommend trying a no-spend challenge to see what you can cut down on.

Other tips would be to get a journal and every time you make a purchase, you jot it down with the date so you can hold yourself responsible.

When you see how much you’re spending it will put a little bit of constraint on you. Remember to pay your bills on time to help prevent additional charges.

5. Shop With A List and Budget

Many times, we buy things we don’t need or just overspend because we don’t have any guidelines.

With a list and a budget – it’s only one rule that applies and that is to only buy what you need or on the list.

If it’s not on the list then don’t buy it. Very simple!

This will teach you to live within your means, save money, and stop being broke.

To make this a lot easier, it would be best to travel with cash instead of a credit card.

There are a lot of financial benefits to carrying cash instead of your card.

Once the cash is finished, it finishes for good. No overdraft, henceforth you have no choice than to spend wisely.

With this method, you’ll use the cash envelope system. Here’s an example, if your grocery budget is $400.00, you’ll place that exact amount in an envelope labeled grocery.

Whenever you’re going grocery shopping, you’ll bring that envelope along with you. Once that $400 is done on grocery, that’s it!


Whether you’re broke or living paycheck to paycheck, these steps will help you manage money.

It doesn’t matter how much debt you have – you can still experience financial freedom.

Remember, the best time to get started is NOW!

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