A lot of people are broke and don’t know it, and that’s the worst part of being broke — when you can’t even realise that you are broke.
Being broke isn’t just when you have no money left in your bank account, being broke is evident in these situations:
1. WHEN YOU LIVE FROM PAYCHECK TO PAYCHECK
A lot of people are living from paycheck to paycheck, but it’s an unhealthy financial lifestyle. It’s a broke lifestyle that spells doom for your future.
2. WHEN YOU CAN’T SAVE
No matter how much you earn every week or every month, if you find it difficult to have a savings culture, you’re just another broke man who doesn’t know it. One day you will go into debts and it will not be far before it dawns on you that you’ve lost everything.
3. WHEN YOUR FINANCE IS STAGNANT
A stagnant finance is a cause for worry. Inflation is always on the high, and when your finance is stagnant, it’s a bad spell for you. A stagnant finance is a sign that you need to up your game.
4. YOU’RE IN ALL MANNER OF DEBTS
Every debtor is a broke person, especially debts that are driven at expenditures. People run into all manner of debts, not to come out of a broke life but to enter deep into it.
5. YOU ALWAYS BORROW MONEY
When you always have to borrow money almost every month to support your lifestyle, then you are broke and could run into big trouble one day.
6. YOU CAN’T PLAN FOR THE FUTURE
I’m sorry to tell you this — but if you can’t plan for the future, if you’re only living for today, then you are broke, no matter how much you are earning.
7. YOU CAN’T ACCOUNT FOR YOUR MONEY
You ought to know where your money is going. Financial accountability is very important if you must have a healthy finance. Money has wings and when you can’t account for it, it might fly away one day.
8. YOU LIVE ABOVE YOUR MEANS
If you live above your means or a live an expensive lifestyle that doesn’t suit your income, you’re a broke man. I don’t care the millions you rake in, because you’ll definitely regret some day.
A lot of people earn huge sums of money every month, but are still broke, but they don’t realise this until they get totally bankrupt. We’ve seen many popular figures all around the globe who became broke despite the large financial heights they once scaled.