Are you ‘poor’ or are you simply ‘broke’?
Maybe you don’t think there’s a difference between being ‘poor’ or ‘broke’, but this is how I see it.
Being Poor = You simply don’t make enough money, but not by choice (circumstances).
Being Broke = You make enough money, but you spend it all instead of budgeting, and/or you don’t make enough money because you don’t want to work more.
You don’t make enough money for a number of reasons:
- You have unusual circumstances that truly prevent you from working
- You don’t have the resources to get a foothold to get out of your situation
- You need more education (e.g. high school degree), but can’t get it
- Can’t find opportunities in your area and can’t leave your area either
You make enough money, but you spend every penny you make:
- Aren’t taking on enough hours at work (e.g. working part-time)
- You spend more on your ‘Wants’ are bigger than your ‘Needs’
- You choose to work less, even if you could work more
- You choose to work a lower-wage job when you could work harder for more money
- You don’t think about saving any money before spending it
- You don’t plan anything, not just your money, but even your life or career
WHAT CAN YOU DO?
- Get an idea of what you want to achieve (1 goal – e.g. ‘get out of debt’)
- Make an action plan to achieve it (e.g. ‘I will pick up a second job’)
I understand that circumstances can be beyond a person’s control, but for what you CAN control, why wouldn’t you want to improve the situation?
If it’s just a matter of picking up more hours at work (or going into overtime), or picking up a second job, then what’s stopping you from pounding the pavement and finding that second job to bring in more income?
Otherwise, there is no other explanation other than a lack of motivation and sheer laziness.