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8 Reasons Why You May Be Broke
3 min readSep 4, 2024
- You Spend Your Money On Liabilities Over Assets — Instead of using your money to create more money you spend most of it on liabilities, or things that do not generate any money, such as: cars, houses, vacations, and other luxuries you do not need.
- You Do Not Watch Your Money — It is likely you are like most people and afraid of money. This makes you unwilling to track it because you feel limited by your bank account rather than excited. But because you do not track your finances you do not see the little bits that disappear here and there until it is too late. This costs you a lot more money than you think.
- You Focus On Getting Back To Zero Rather Than On Making More — It’s all about saving the money that you have and never about expanding what you have. You cut down on your life, in order to save what little you have, rather than figuring out a way to expand. The problem with this is that, at best, you will get what you want and reach 0, which doesn’t solve your financial situation, and at worst, life gets in the way on your path to reaching 0 and you end up falling even further behind.
- You Value Comfort Over Necessity — If given a choice, you would choose to do what’s easy instead of what you know will help your finances out. Most of the times, the scary, uncomfortable or difficult actions are the ones that would actually help improve…
