Comments on: 10 Things That Broke People Do (That Keep Them Broke)

By: Jose

Jose — Fri, 19 Aug 2011 20:23:01 +0000

I have a customer who comes in without money and asks for a free soda and a free $1. to play sweepstakes games where I work. (Internet Cafe). The man is unemployed, broke, having marital problems, (wife wants to leave him), he shows up almost every day in a sort-of-disturbed and ragged demeanor. I do feel sorry for him because he is an educated man, good looking north-easterner. it is getting to the point where he is abusing his priviledges. I don’t want to kick someone when they are down on the floor, but he needs to find a job like all of us. What do I do?

By: Sophie

Sophie — Mon, 15 Aug 2011 15:05:08 +0000

I’m a 28-year-old woman, and I used to do EVERYTHING on the list on a pretty much daily basis. I led a sad life of credit card abuse and I was constantly seeking immediate gratification. I realize now that much of my financial irresponsibility was due first and foremost to me being irresponsible, but also to my parents (who have filed bankruptcy twice in their 30-year marriage) and my ex-husband whom encouraged me (and me him) to be this way.

Now, I’m 90% out of credit card debt, and will be 100% by the end of the year! I’ve got a whole new perspective on money, budgeting, and saving…it’s really become a bit of a hobby for me. This is all due to my wonderful fiance who’s really shown me how to find happiness outside of material possessions, save (even on my low salary), and enjoy the present. Together he and I find a great balance of enjoying the present and planning for the future. I do think it’s important to stress that all saving and no play is not healthy. You could really die tomorrow! BUT!!!! You could also live to be 101!
I also think it’s important to save or at least budget for tiny indulgences every few months…like I LOVE technology, so I budget, every year, to get a new phone…that means I don’t get pedicures every month like my girlfriends, but I ♥ my phone!

One last thing, if people are judging you, why let it bother you? When I moved in, we threw away the couch he had and we decided we were going to buy a new one (cash of course). After spending a day shopping for one, we came home to a busted washing machine. Needless to say we bought a new washer and dryer instead. So, now we have no couch. A couple of our friends started laughing when they came over…”why don’t you guys have a couch…you can finance one and not make payments for a year” Geeze…you believe that?! I told her we don’t like being in debt and that it was really non of her business. It was awkward for a moment, but she then apologized and all was well. And I kind of like not having a couch! It’s always cuddle time on the floor with the puppy at our house!

By: Edwin @ Save The Bills

Edwin @ Save The Bills — Tue, 22 Mar 2011 05:41:17 +0000

It’s all about personal responsibility and people who are consistently broke just don’t have it.

By: Paul @ Sports on a Dime

Paul @ Sports on a Dime — Mon, 07 Mar 2011 16:11:57 +0000

If I had to add an 11th one, then I would say it would be “They are lazy”. Not only are they broke because of how they spend their money in 1-10, but they sometimes aren’t motivated to earn the money in the first place.

By: Richard Stooker

Richard Stooker — Tue, 11 Jan 2011 17:28:08 +0000

I worked for over thirty years with people applying for, and on, a popular kind of federal welfare, so I have great experience with broke people.

I’d like to add one “broke rule” I often observed: When you get a check, spend it ALL.

Now, when it comes to tiny welfare checks, bleeding hearts will claim it’s cruel to expect people to spend any less than the full amount of the check.

That did make sense for the $70 per month General Relief checks the state of Missouri used to pay, but what many people don’t realize is that many poor people have had money.

I sometimes saw people get insurance settlements or other lump sums of $50,000 or $100,000 — and they still spend it ALL. I once saw a young man who’d been injured as a child turn 18, receive a trust fund of nearly $200,000 established by a court order — and give it all away to his relatives. Then was upset when I stopped the government check he felt entitled to.

As Andrew Tobias says, no matter how much or how little your income is, there’s somebody somewhere who’s getting by on less. Live like them, and you too can save some money.

By: Mr. Money

Mr. Money — Mon, 10 Jan 2011 16:23:30 +0000

Here's a post on emergency funds for you. As far as planning ahead for things you want, I'd just suggest first figuring out if you really need it, and then if you do, add a line item to your budget for that thing. Of course i'd put other things first like all the necessities, and saving for retirement.

By: Pamela Mattox

Pamela Mattox — Mon, 10 Jan 2011 16:14:23 +0000

In response to your article: “10 Things That Broke People Do (that keep them broke). I used to be that person. I was slightly different, in that my bad stewardship was rooted in my lack of appreciation for myself. I felt that everyone else deserved the best, so I gave myself into a hole…. this hole became so deep until it took divine intervention to get me out!! God started with my thinking, then how I thought about Him, and my thoughts toward myself and then others. I was able to break a curse of brokeness and bad stewardship. I discovered that I was sinning in this fashion in my life…Yes, bad stewardship is a SIN! I have come a long way in my change, and I am most appreciative for God’s allowing me to learn from the harsh lessons that come with mis-handling His goods. I not only have a good esteem of myself, I can actually say “NO” to people I love and I have money left over after bills are paid. I can actually hold on to a dollar now. So, thank you for this post. This site was sent to me by a dear close friend, who knew of my struggles. As for budgets, I have one that I use, but can you help me with budgetting for emergencies and planning for things or events in the future that I would like to have or do? Thanks again for being here. God’s continued blessing on your life and your family!!

By: Jessica @Debt_Princess

Jessica @Debt_Princess — Mon, 04 Oct 2010 19:22:09 +0000

I think I did each and every one of those. Including #11, like a poster above said, I used material items to fullfill something else missling in my life. I hit rock bottom and now I’m digging my way out of all this debt. I still have lots of debt and no savings but I feel “cured” of the debt disease. I’m working hard to end the cycle with my children as well.

By: Barb Friedberg

Barb Friedberg — Fri, 03 Sep 2010 19:40:45 +0000

GREAT-Each point was true. The inability to delay gratification can hurt not only one’s budget, but one’s relationships and waistline!

By: bringonenergy@gmail.com

bringonenergy@gmail.com — Fri, 20 Aug 2010 12:10:06 +0000

My favorite axiom from my uncle:

“You’ll never get wealthy working for someone else”.

I’ve owned 4 businesses in my life, and while some did well, some did not. But I definitely learned from those experiences.
But the one I think I learned the best, is to leverage your time.

Last year, I had a real estate sales business, and was working 70-80 hours a week, and very rarely took a full day off. Then a friend showed me a business plan that blew me away. I gradually slowed my real estate work weeks, and grew my telecommunications work weeks. And after 9 months, I closed my real estate business for good. I no longer had to sell 2 or 3 houses a month to pay my bills. Because the things to sell are services that people use every day. Cell Phones, Internet, TV, people are never going to go without those. Best of all, my business brings it a small portion of those bills.

There is a better way than 40 hours a week. I’m proof of that. It took some hard work, but when EVERYONE uses the product you offer, it’s easy to find customers.

If you’d like more information, feel free to email me.

Sincerely,
Troy