BROKE 💰

[Different]

You're BROKE! You're absolutely BROKE LMFAO! 😂 Not a great way to start off a thread, I get it. Is it that you're living paycheck to paycheck and your bills are kicking your ass, or do you just don't give a damn and make idiotic decisions with your money? Nice cars, Rolex watches, fancy clothes, nice sneakers, tattoos, etc. So many of us are more concerned with how we appear in front of our peers rather than saving up money for our future. Yes, all of us have been broke boys before. We've all opened up our wallets (or bank accounts) and noticed that it's bone dry. BIG, FAT ASS ZEROS served on a silver platter! Yeah, I get it, that hurts like hell. But, who's fault is it? Are you going to allow those ZEROS to control your life and remind you how much of a loser you are, or are you going to get off your ass and hustle for the money?

Most people don't even think about investing or saving their money. Forget about 401k plans, retirement funds, budget plans, or even having financial goals. They're too busy drinking and living lavish lifestyles that far exceeds their means. Don't be one of those ignorant, dumbasses ok? Set financial goals, talk to a financial manager, save money, invest, and live on a budget. If it's not in your blood to be rich, then you'll probably never be rich. Eventually, you'll get tired of being broke, trust me.

When we're in incredibly, tough spots in our lives - some of us would work two or three jobs, take advantage of credit cards, take out loans from somewhere, or borrow money from friends and family that we don't even have. So unless you have experience with managing money properly, it's going to happen to you eventually. Most people would say that BROKE equals stupid. Yes, there are many tough spots that people find themselves in where they got laid off from their job, emergencies happen, they're behind on the rent, etc. But, the smart ones always have a back up plan to bounce back from failure.

Some people are used to piggybacking off someone else instead of making their own money. Then there are those who inherited millions of dollars from their parents and then blew it. Also, you've got the silver spoons who were born rich without making their own hustle. None of these people know the value of a real dollar because they've never had to work hard and hustle for the money. Finally, you have the desperate people who will do anything for money... and I mean anything. Murders, selling drugs, robbing people, joining mafias, financial fraud, and running shady businesses. Obviously these are bad people that you don't want to associate yourselves with. The economy is tough, I get it. But, being broke doesn't have to be a number 1 priority if you can help it.

Everybody on this site has been broke before, and the last thing that you want is to not be able to afford food, clothing, a roof over your head, and be behind on the bills. Also, if you have a car, it's not fun being broke when you have a major problem like a dead transmission that you can't even get fixed. Your boss isn't going to take any, sorry ass excuses that keep you from working. He or she will fire your ass and give someone else your spot.

The world is cold, heartless, and unforgiving. If you're unemployed, have over $100k in student loan debt, credit card debt, car debt, medical issues, and you're homeless... the world will continue to kick your ass aside because they don't give a damn. You could stand outside with that homeless sign all day long. 1/10 will give you $5 for McDonalds. Everyone else will tell you to get your ass out and find a damn job.

Then you have those who bust their asses off working a full-time job for little money, and they're still broke. So now the question is, how do you all deal with being broke?

SOURCE

Reasons why most people are broke

[Master Raiden]

If I was broke, I would seriously re-evaluate how I am spending my money and be more diligent in tracking it.

But the thing to note is that spending may not be the issue for some people. You can only save as much as you make, so for people who are spending little but still living paycheck to paycheck, increasing income is really the only way they can achieve a bit of financial stability.

For the rest of us, I think it's important to form good financial habits. Most of the time, people just do what they are in the habit of doing. If you regularly get takeout 4 times a week or impulsively buy clothes that look nice in the window of the store you are walking past, then you are probably going to continue doing it which will cost you in the long run.

So forming good habits and having discipline when you are young will start you off pretty well. I think I am near the extreme end of this, and frankly, my life has been pretty boring for the last 10 years. But as a result, I am able to be happy without needing to spend a whole lot.

I'm fortunate enough to still be living with my parents, so I am able to save most of my money. Apart from expenses associated with my car, I probably spend about $30 per week on average. And I feel like people who are used to spending more will be pretty unhappy if they were to swap places with me simply because they would not be used to such a life.

I think the easiest way to improve your finances is to avoid the "lazy tax". Simple things such as putting your savings with the bank that offers the highest interest rate, regularly comparing the cost of various services you use like electricity and insurance, and refusing to buy non-essentials at full price.

Sometimes, I don't get why people buy stuff like chocolate and ice cream when it's not discounted. They aren't essential, and you can probably survive without it for a week or two, so paying up to 2x as much as you could get it for doesn't make sense to me. And yeah, it's only a matter of a few dollars each time, but think about this: if you could buy everything at half price, you effectively have twice as much money.

[SebastianPolak12]

Simple, don't waste money on stuff and save it for more important things

I've been saving money for about three months now and not spending money on dumb stuff I don't need definitely feels nice

[Different]

If I was broke, I would seriously re-evaluate how I am spending my money and be more diligent in tracking it.

But the thing to note is that spending may not be the issue for some people. You can only save as much as you make, so for people who are spending little but still living paycheck to paycheck, increasing income is really the only way they can achieve a bit of financial stability.

For the rest of us, I think it's important to form good financial habits. Most of the time, people just do what they are in the habit of doing. If you regularly get takeout 4 times a week or impulsively buy clothes that look nice in the window of the store you are walking past, then you are probably going to continue doing it which will cost you in the long run.

So forming good habits and having discipline when you are young will start you off pretty well. I think I am near the extreme end of this, and frankly, my life has been pretty boring for the last 10 years. But as a result, I am able to be happy without needing to spend a whole lot.

I'm fortunate enough to still be living with my parents, so I am able to save most of my money. Apart from expenses associated with my car, I probably spend about $30 per week on average. And I feel like people who are used to spending more will be pretty unhappy if they were to swap places with me simply because they would not be used to such a life.

I think the easiest way to improve your finances is to avoid the "lazy tax". Simple things such as putting your savings with the bank that offers the highest interest rate, regularly comparing the cost of various services you use like electricity and insurance, and refusing to buy non-essentials at full price.

Sometimes, I don't get why people buy stuff like chocolate and ice cream when it's not discounted. They aren't essential, and you can probably survive without it for a week or two, so paying up to 2x as much as you could get it for doesn't make sense to me. And yeah, it's only a matter of a few dollars each time, but think about this: if you could buy everything at half price, you effectively have twice as much money.

Well said, bro. I wish I had someone teach me about financial stability, increasing income, gaining financial discipline, and forming good habits when I was in my 20s. I can't even begin to explain how many times I blew my money. I've had $5k before, and blew it in two months. What did I blow most of it on? A stupid car that wasn't all that great, massage appointments, food, etc. I had to learn the hard way. But now, I'm learning to save money.

I used to be good at saving money before I got into my 20s. Idk man, life happened. But now, I know better.

[Delphinoid_]

The first thing I want to mention is that we should dismiss the just-world hypothesis. People are quick to assume that those who are poor, broke, homeless, etc. are that way because they somehow "deserve" it. Maybe they "wasted all their money on dumb stuff they don't need". Maybe they're "too lazy to work". This is an all-too-common cognitive bias that really bothers me.

With that out of the way, I tend to have pretty low expenditures. I don't eat much, and when I do I make meals myself, I never eat out. The clothing I like is simple and cheap, honestly I can't remember the last time I've had to buy clothes. The only stuff outside of bills and groceries that I really spend money on is medication, hygiene products, haircuts and public transport. In particular, I feel lucky that this sort of lifestyle is sustainable and just works for me. I don't feel like I'm making sacrifices by living this way; for instance I avoid eating out not because of the cost, but because I just don't like going out / eating in public much (or those awkward interactions with delivery people). The only stuff that's on the more expensive side are probably hygiene products like shampoo and conditioner.

That said, in the past I did used to withhold myself from buying non-essential stuff that would make me happy. I've recently been trying to get out of this habit, allowing myself to buy stuff like the occasional game from G2A so I have something to play with friends. At some point I'd also love to get a pet if I can afford it (maybe a ball python or some kind of sighthound like a borzoi or greyhound). A lot of the things that make me happy / content are things that money can't buy though (for better or worse).

There are also so many things that I'm thankful for on this topic. I feel fortunate that I live in a country with universal health care. I feel fortunate that I live in a country with safe, functional and relatively cheap public transport (you can actually save a lot of money here by forgoing things like car ownership, and I hate driving anyway). I feel fortunate that I live in a country where higher education course fees are subsidized by the government. Most of all, I also feel fortunate that I wasn't born into poverty, because it can be really tough to climb out.

Sometimes, I don't get why people buy stuff like chocolate and ice cream when it's not discounted. They aren't essential, and you can probably survive without it for a week or two, so paying up to 2x as much as you could get it for doesn't make sense to me. And yeah, it's only a matter of a few dollars each time, but think about this: if you could buy everything at half price, you effectively have twice as much money.

I think if you have a craving for chocolate or ice cream, you think it'll make you happy and it fits within both your monetary and dietary budgets, then you shouldn't be afraid to buy it. I don't think it's wise to let your happiness depend on some totally arbitrary sense of a perceived bargain. Your happiness is one of the most important elements of your life, and I think taking advantage of those little pleasures that you can afford matters a whole lot when it comes to your mental well-being. Don't stress out about money more than is necessary to live comfortably.

[LCPD]

So a few years ago, I was laid off from a job I had for 5+ years. It was a mismanaged place, anyway instead of just mopping on it, I grabbed a job my friend had and I was able to make some money until something better that came up. After doing a few jobs, I landed on a job after taking a bunch of civil service exams. Here I am a few years later and I am climbing the ladder, more pay, less work and more work from home days.

[Simon]

I am pretty sure nobody on this thread is 'truly' broke, you might think you are, and feel broke but you aren't. If you have capabilities to get wifi, have a device that can browse the internet, to read this thread, you have more than most people. Look around, where you live, where you go, what you wear, you are most likely not broke. You might have poor financial habits but you aren't 'broke'.

Before Covid, I spent about a year living on a remote outer island in Fiji volunteering for the government. On my island, there were no roads, no stores, no resturants, 1 wifi tower, 1 nurses station, 3 schools, 4 resorts and 9 villages. Villages are only now getting electricity from solar panels. At the school I volunteered at, students from 3 different villages attended the school. The villages couldn't afford gasoline to boat students back everyday, so they dormed at the school from monday - friday. Students had 2 outfits, a school uniform and then something to wear after school, most were lucky to have flip flops. Any toiletries (toothbrush) or school materials were either donated or they did not have.

Living here taught me that most of us have no idea how most of the world really lives. If you are reading this thread on a phone or laptop, that device is probably worth more than most of these families have period. While there, I received a stipend to live at the same level as the locals, which was about $200 USD a month (and honestly that's more than the people in my village made). I still try to donate as much as I can to my village, it is hit by cyclones often.




Here is a photo of me on the last day of school.

So a few years ago, I was laid off from a job I had for 5+ years. It was a mismanaged place, anyway instead of just mopping on it, I grabbed a job my friend had and I was able to make some money until something better that came up. After doing a few jobs, I landed on a job after taking a bunch of civil service exams. Here I am a few years later and I am climbing the ladder, more pay, less work and more work from home days.

Glad to hear you are doing well, no surprise!