6 Reasons Why You’re Still Broke

6 Reasons Why You’re Still Broke

There are so many excuses people make for reasons why they don’t have enough money. They don’t make enough, they can’t get a promotion, blah, blah, blah. Oftentimes, these people fail to look at their own behaviours as a reason why they don’t have enough money. There are so many reasons why you’re still broke that you don’t even think about. 

6 Reasons Why You're Still Broke and How to fix them

You Don’t Have Financial Goals 

Not having financial goals is a real reason why you have no money. If you don’t have goals, you probably don’t have a budget (oops, learn how to start the easy to use 50/30/20 budget here!) and a budget is the key to knowing where your money goes! 

At the beginning of each year (2018 is right around the corner, start now!) you really should take an hour out of your day to plan exactly what you want to do with your money. Do you want to save money this year? Start your 401(k)? Pay off your student loans? Knowing what your goals are can help you get there! 

If you start the beginning of each month with a budget outlining where your money goes you’re going to reach your overall financial goals faster. Budgeting helps there to be less of a chance that you’re going to make impulse money decisions and do silly things with your cash. 

If you’re working towards something financially you’re going to stop being broke! 

You Focus Too Much on Everyone Else 

With the popularity of social media, we are focused so much on the lives of everyone around us and not on creating a life that we are proud of. If you spend your time focused on what your “friend” from high school is doing you’re never going to have money in the bank. 

Why is that? You’ll see on Instagram that this person got a pretty new watch and yours is a year old. Or you’ll see somebody else that went on a trip to Spain. This is going to increase your FOMO (fear of missing out) and you’ll never be able to save cash. 

It’s so important to live your life and ignore what everyone else is doing. Chances are that person in the cubicle next to you who just came back from Taiwan paid for it using credit and doesn’t actually have any money in the bank! 

You Don’t Work Enough 

I can’t begin to explain how many times someone complains about money to me and then I realize that they’re only working 20 hours a week. If you aren’t even working 40-hours, what are you doing with all that extra time? 

Some people are only able to get part-time positions in their field so what should they do? SIDE HUSTLE. There are so many different online options for you to make tons of money on the side during your off time which can help you to pay down debt and save money! If you’re not into online side hustles because you’re not too tech savvy, check out my post on 4 side hustles that are all offline! 

You Party Too Much 

You’re young. I totally get that. Partying and drinking with your friends at the end of the week is a great way to blow off steam. It’s just when partying becomes a crutch that it’s dangerous. Are you relying on partying to fill some kind of void in your life? 

Partying is so expensive. Unless you’re a super hot single girl you’ll probably spend $50+ a night on just alcohol, not to mention the new outfit you needed just to go out (probably around $50 too), and the food after dancing (another $10-$20). Is one night of drinking and dancing really worth over $100? That money could be better served to pay off debt or building wealth. 

You Only Make Minimum Payments

The standard minimum payment on a credit card is calculated in a really ridiculous way. It’s the total cost of your interest & fees + $10. So if you’re paying just the minimum payment each month you’re only paying $10 toward the actual principle. 

Chances are it will take you years to pay off that credit card and you’ll only be paying interest. Not to mention, if you continue to charge to the card you’re only going to dig yourself into further debt! 

Lots of Talk. NO ACTION!

Everybody knows a person that spends a lot of their life complaining about their financial problems but literally never makes a step toward changing anything. Are you this person? Chances are if you’re reading this post you may be. 

If you took the energy that it takes to talk about your problems and turned that into coming up with solutions you could be out of debt and making extra money in no time! Taking action towards a goal isn’t hard, it just takes a little extra motivation and I’m here to help you every step of the way. 

If you want to stay connected to this blog in order to start taking action, please join the family by signing up for my newsletter! It’ll notify you of upcoming posts and help make sure you stay motivated. 


As always, thank you so much for reading and taking some time out of your day to hang out here with me! 

If you know of any other reasons that someone may still be broke, please feel free to leave them in the comment section below! If you have any questions or want to work with me, please email me at taylor@notquiteanadult.com! 

Thanks for reading,

xo Taylor 

Hey! My name is Taylor O’Halloran and I’m a huge fan of saving money any way I can.I’m obsessed with dogs and I love all kinds of cheese even though my stomach hates it.  I’m a recent university graduate who just wanted to do her own thing and see what happens! Follow me on the journey!

1 thought on “6 Reasons Why You’re Still Broke”

Leave a Reply

Your email address will not be published. Required fields are marked *