How to stop being broke?

If you’re suffering from lack of money and are wondering why is it that some people always seem to have cash and you’re constantly broke, I think I might have a hint for you – you’re shopping inefficiently!

Please don’t tell me now other people have cash because they earn more. That is a misconception that grew into stereotype, when in reality the difference is: they’re frugal and you’re not. First example: me. I earn quite a lot of money for my age, but at the end of the month I struggle to be able to afford basic domestics. On the other hand, one of my best friends is an aspiring artist who seems to always have cash even though she earns a third of what I do. Since I noticed this phenomenon I became more aware of what I buy and how I manage my money. I hope this post is going to give you some ideas that might help you take care of your budget.

Disclaimer:

i suck at saving money

I really do suck at saving, I don’t think I ever had real savings my entire life. The following tips come from my personal experience, but I have yet to establish how to use them in a long run. Any tips?

  1. Buy only what you really need.

This goes for food, clothes, appliances, electronics and home decor – although if you really want to save money you don’t need anything else than food. Each time you think you need to buy something, immediately drink a glass of water, sit down and simply don’t do it. If you lived for a year without a dishwasher, and you struggle with cash, probably you don’t need the dishwasher that much. If your closet is full of clothes don’t buy another white t-shirt or jeans, rather keep your money for a time, when you’d be needing something important.

In case of food, I heard from various sources how you need a list of groceries to be sure you only buy necessities. That is true, I don’t usually go to the supermarket without a list either, but what you need to keep in mind is that even though you have one, you might still buy a lot of unnecessary items. Example: today I made a list of things I should buy for another three days. I folded it and put it in my purse, but just before I left I went to grab some water from the fridge and realised I listed a lot of things I already had! Hence, whenever you decide to go shopping look through your cupboards, fridge and refrigerator to learn what you really have there and maybe during that routine you might invent dishes that don’t need additional shopping – my favourite: spaghetti alio olio.

Another frugal thing I learned recently is to eat less meat. Meat is expensive – it deteriorates fast and you need to spend a lot of time to prepare it, plus you might feel bloated and tired from excess in your diet – shop smarter and more consciously.

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2. Find additional sources of income.

The best tip to not be broke is to earn more and from various sources. I work full-time for a company in Warsaw, but I also cooperate with other companies just to have additional source of income. If you can’t get another job, think about contacting your supervisor about a raise, or some additional benefits. Another way to do it is to get rid of the things you don’t need anymore, but other people may perceive useful – sell those off e-bay and save the money for later.

3. Look for small saving opportunities.

Don’t spend money on useless crap is more approriate for a title here, but it corresponds too much with point number one, so let me stay with the “look for small saving opportunities”. Generally, don’t spend money on… plastic bags – take some from home, gym membership cards if you’re too lazy to ever practice, paid applications on your iPad or phone – cause you don’t need any of it, even if you think you do, magazines and newspapers – use the Internet instead. Don’t buy bottled water if you have the same one or better in your tap, don’t buy fancy notebooks, pens etc. if you have a lot of them lying around your house. Don’t buy flowers, eat at restaurants, drink at pubs… generally live like a freaking monk for a while, but trust me, you will be rewarded. And, oh boy, it will be worth it!

4. Because the whole reason for saving up is to be able to spend it later on something totally worth it!

Keep your goal in mind and work towards it! If it’s a trip, renting a dream car (looking at you Floret), expensive camera or even paying up your debts. Work hard for it and you’ll finally achieve all your goals! Living life frugaly has to have a purpose, and collecting money is a crappy one, trust me. Money does not bring happiness, unless it’s a mean to achieve what you want. So buckle up on your adventure to whatever it is you need to save money for.

Btw. If anyone of you will tell me you don’t need to save money because you don’t have any debts, but in the same time you have mortgage on your house, credit or your balance on the credit card is not 0, than you are an idiot and you should save money cause you’re drowning in debt! If you are not in debt, you don’t owe money to ANYONE! Simple as that.

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Dorota


13 thoughts on “How to stop being broke?

  1. You are absolutely right about that savings… but you missed one thing and that is:

    5. Find a rich boyfriend :)

    lots of luck on savings

    Like

  2. Great tips! I’m soooo bad at saving money as well! And itΒ΄s always great to have some extra savings! I’ve also noticed since I’ve switched to veggie diet – doing groceries has become more efficient! Additionally, I feel so much better!

    Have a great week!
    Anna
    http://atlifestylecrossroads.com

    Like

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