7 REASONS WHY PEOPLE GO BROKE
BY Oluwamayowa Lala

Frankly speaking, I must mention, as a caveat to start with, that the pieces of advice offered in this article can only work well if you have a means of livelihood. We know of certainty, that anyone without any substantial means of livelihood will naturally go broke. In this article, I don’t think I have any formula to help an unemployed person to escape being broke. But again, the points mentioned here are noteworthy and important to help anyone manage their finances like a money expert.
Before we finally set out to my gathered points on reasons that make people broke, I think we should settle two facts.
Fact 1: Being broke has nothing to do with how much you earn, you are the one to adjust your lifestyle to your earning. No matter how much yu earn, you can still be broke if you don’t reconfigure your settings.
Fact 2: Without proper planning and serious discipline, being broke is almost inevitable. And the scary part of it is that when you are broke, you will be disrespected and treated like a sideshow. In fact, left to me, I see the word broke as an euphemism for poverty. It depresses, contorts, conceals and damages your person and personal values.

Reason 1: You are too nice
You don’t know how tell people NO when they come with their spontaneous requests, all you want to do is please everyone yet you are forgetting the fact that when you go down! These people you are seeking to please will be the first ones to mock you.

Reason 2: You are surrounded with too many dependants

The bad scenario I am pointing out here is not about your family but your dependant friends, maybe I should remind you that humans are so deceptive that they surround you when you have money and they flee when you are broke.
Being responsible for one’s family upkeep is cool and largely rewarding but to stay afloat, one need to budget wisely for one’s family in such a way that you don’t break your saving plan.
But for your relatives, you need to remember that you are not GOD. Even you are a billionaire, you need to plan your the charity in such a way that they don’t injure your finance.

Reason 3: You are living above your earnings

You need to adjust your lifestyle to your earnings. Let me hammer it again that those people you are impressing will be first ones to crucify you when you go down. Life craze ooo.

Reason 4: You don’t have a saving plan
This is simple if you can’t discipline yourself to save a good percentage of your earning, All you need to do is to go and strike a deal with your bank so that they can help extract certain amount from your earnings month for savings. Other options are cooperative societies or investing/buying income producing assets.
Reason 5: You don’t plan your spending
You need to start listing needed items on your buy list before you go out there to make the purchases, it can be very tempting to go out there and stand your ground if you don’t plan your spendings. To be on the safe side and to maintain focus and accuracy, you need to start planning your spending.

Reason 6: You have not mastered your society
There are various dynamics to be learned in your society if you are not going to waste your money or fall into the hands of scammers, you need to have a good mastery of your society system: the people, places, prices and products. You need to have a good knowledge of where to get cheap things, you need to take time to stroll around to do some serious survey and interview trusted acquaintances. Knowing the aforementioned things helps you to buy things easily and cheaply while staying clear of frauds and unnecessary expenses.