Cash The Checks

Personal Finance Blog With Advice On Making Money And Saving Money

Do you know anyone who is constantly broke? For them, being broke is a way of life. They don’t know why they’re broke, but they always seem to be short on cash. It has little to do with how much they make. Rather, it’s their lifestyle. In this post I’m going to list eight things that all broke people have in common.

  1. They always overpay. While you are able to find good deals, they don’t even bother. Their impulsive personality means that when they see something they like, they buy it. They don’t go research prices or even use coupons. The concept of comparison shopping is foreign to them.
  2. They don’t plan. People who are always broke seem to live in the moment. They do not plan for the future. It’s all about instant satisfaction and no sacrificing anything today for tomorrow.
  3. They rely on others. Those who are consistently broke always go for the bailout when things get tough. For example, they hit up their parents for money. If that fails, they just file for bankruptcy to wipe out their debts.
  4. Credit. For broke people, a credit card is their best friend. They live on plastic. They don’t use cash, they use their credit to buy things. When debts need to be paid, they’ll get a loan to pay off another loan.
  5. Their lifestyle. They need to have the best car, the best clothes and the nicest house. It doesn’t matter if they can’t afford it.
  6. Budget. They’ve never created a budget before. They are baffled as to where their money goes. They earn a good income but never seem to have enough money.
  7. Blame. Everything is always someone elses fault. They always complain about their financial situation but never point the finger at themselves.

Maggie@SquarePennies on 11/01/12

I think being impulsive is one of big cause of most of their problems. We need to teach kids patience and planning!

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