Good day to all Hiveans, today I will highlight five ways to avoid being broke again.
Being broke is not normal, there are people who never go broke no matter how hard the economy seem. I know no one sets out to become broke but due to some factors we sometimes find ourselves facing this challenge. Being broke is being so deep in debts, living from paycheck to paycheck without a dime to spare.
If you are tired of being broke, You can put an end to all this by doing the following:
Budget
To avoid being broke the first thing to do is to make sure you have a budget. When you go out without a budget you earn up spending more than you should. Learn to budget your expenses, through that you can cut down on unnecessary items, and have extra cash at your disposal. Little purchases you make might cost you more than you think, if you don't write them down, you might never know how much they have been consuming.
Live on Less Than You Make
One way to have more money on your hand is to either make more money or spend less. If you never want to be broke again, then you have to ensure you spend less money than you earn, watch every purchase you make, calculate every dime and ensure that you spend your money wisely.
Increase Your Income
As I stated early earning more money can prevent you from being broke. Apart from your regular job, you can have a side hustle, it could be online, on sight whatever it may be just something you can do to give you some extra cash.
Avoid Impulse Buying
Adopt this five ways and you will never go broke again
This is one of the major causes of being broke, buying items you don't need and never planned for. Before making any purchase, ensure that the item is planned for, if it isn't then don't buy them till you plan for them financially.
Drop Bad Lifestyle Habits
Your lifestyle might just be one of the reasons why you get broke. Habits like drinking, smoking partying, or even over eating etc can cause a big hole in your finances, so if you can identify such habits that consume a chuck of your finances and stop them you are on your way of coming out of being broke.
Final Words
If you can adopt this five ways I can assure you will never go broke again.