Here Is Why You Are Always Broke By Mid-month

You worked so hard to get a job and you thought your problems with money would end, but even after securing a well paying job, you’re still struggling to make ends meet.
“I’m broke” is one of the most common sayings. But you were paid the other day, so the question begging is, “Where is your money going?”
It all trickles down to your spending habits. It is that simple. How you spend your money, where you go on weekends with friends, are the taps running your pocket dry. I don’t mean that you become a miser, but it is important to be a disciplined spender.
Uncontrolled spending, unfortunately, is the cause of miseries and misfortunes. People tend to give out money, just because they have the money in their hands, hence ignore the likely impact of unplanned spending.

Here Are Events Which Take Up Your Money

1. Focusing on the present without caring about the future
You see on your WhatsApp group of former schoolmates gearing up for a road trip that week. You really want to be part of that fun fair; but you had not planned.
You fear missing out on joining Akinyi who assured you of a hot gossip when you get there. No doubt, you end up spending for the same. You come back home with memories, less of money.
2. Being unclear of your needs, wants, and finances!
Ladies, more likely, fall trap of buying that nice pair of shoes on display along the streets from work. You must have it, you say to yourself.
You are afraid you might not find such a pair the next day. With money you had not planned to spend, you buy the shoes. It looks good, but your pocket doesn’t.
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3. Unnecessary expenses
You had a long day at work and you believe you’re too tired to cook. You pass by the nearest Fast Food to grab some chips and chicken on your way home. The very ripe tomatoes and dhania you were supposed to use to cook that evening go bad and you not only waste the vegetables, but you end up wasting your money.
4. You are too generous
Your friend has a birthday that you were not aware of early enough to plan for. As a sign of your friendship you decide to get them a gift. You end up spending what you had not penned for.
It therefore becomes hard to account for such expenses, since it is a onetime withdrawal from the bank of your mobile money service providers.
5. You don’t know how to say no
Your workmates want to have an evening drink on a Friday, for example, but ideally you have some cash, probably meant for food in the house. Joining friends out isn’t a bad idea, but it is important to plan for everything.
Ideally, you will end up paying for drinks as you wipe the Friday night away.
All these are examples of how our money disappears and we are left flat broke.
You have to be disciplined and have a tight budget. There’s nothing wrong with spending on miscellaneous items, but we have to budget for such expenses.
When you fail to plan you will be broke in the course of the month. That is a guarantee.
Have a simple budget. Write a list of all the things you need to spend money on every month. Add that extra column of fun things you’d like to spend on and allocate some money for it.
Mark special events on your calendar early. That birthday, that wedding, that trip and decide if you can afford to attend all these events with the budget you have set.
That, my friends, is the only way we can survive through life. Have a budget for every single thing. Leave the broke family and join the financially stable folk.
By Lilian Wamaitha