Going broke is every human fear, it’s liken to an illness. It is no surprise that when people are broke, they tend to act so angry. A lot of people stay away from the public during such moment, some would even fall sick. The saddest thing about being broke is not that you are poor but from the fact that you used to have and now you no longer do. Many people have ascribed being broke to poor management decision. While I agree, there is more to this.
I have been broke repeatedly in this small life that I have lived. That is the time you would see me avoiding people or going out. It’s really a sad stage in an adult’s life. As someone who has experienced this over and over again, I would be sharing some tips I have learnt over the years, lessons from friends and also from research I have made.
Related: 6 Spending and Budgeting Habits To Embrace
#1: You Don’t Need Everything
One of the most annoying thing I do when I see money in my account is to go on a shopping spree. Aside the fact that it is my feel good therapy, it makes me feel more like an adult. I feel like a superwoman who can afford anything she wants, until I start looking at my account balance at the end of the day and I realize it is just 7th of June and I still have more than 20 days to go before the next pay will come.
The saddest part is when I can’t even use any of the things I have bought. Either because I end up not liking it or it’s too tight or small. Or simply because it’s not as fine as it looked when I saw it on the rack. Till tomorrow, I still have this dress that I have no idea why I bought in the first place. Maybe I would turn it to a sleep wear just so the money does not waste. But the price, father! I can count a million and one thing I can use that same money to do and will get me more money.
#2: Debt is The Enemy
Why will you borrow money you cannot pay back? This one is not your village people, this is you doing yourself with your own hands and in your right senses. I remember during my NYSC days that I had to borrow money from a friend. Being a corp member who redeployed to another state, my allowee was not paid on time for like 5 months. I was cashless and sad and asked this friend for a loan with the promise to pay back with interests in like 6 months time. Since I was doing some home lessons then for some students, I hoped by the time I save up with the fees and the allowee, paying back would be a piece of cake.
Boy! Getting a loan is very easy, paying back is like the biggest deal. First, the money from the home lessons was going for my daily upkeep. When I got the allowee, a zillion things surfaced and I kept praying the guy will just call and say, “Debs, don’t bother paying me back. I am giving it to you as a concerned friend who realized you really need the money.”
That never happened. I paid back with interest sef and was like 10 times broker than I was before.
#3: What Are You Looking For Outside?
You earn a N100,000 but you must go out every day after work just because every other girl takes cute pictures in different restaurant and post on the gram. By the time you spend an average of N3,000 every 2 days just to show off your slay rich self in every restaurant in the city, you’d be more poorer than the church rat.
Why not make your home your comfort zone rather and cook good home made meals while you watch Netflix? Nobody will fry you if you keep taking pictures in your room or compound. For someone like me who love to buy things, there’s no day I go out that I will not be tempted to get something for myself.
#4: Leave That Credit Card At Home
Did I hear you say it is hard? My dear, then you have not been in that broke stage. On days when my girls say, “Let’s go to the cinema.“ You’d find me tagging along with some loose cash in my finest outfit. No temptation shall meet me on my way out today. No matter what I find, I am not buying because I ‘forgot’ my credit card at home.
Internet banking, oh, I forgot my log in password. In fact, I think I would start uninstalling the App before I go out now and only install back when I am back home. We shall stick to the budget we have drawn and we shall not buy anything else, can I hear an Amen?
Related: Save Money Each Month by Taking These Steps
#5: Why Are You Afraid To Ask For Money?
Don’t get me wrong please. I am not asking you to stand on the street and beg for money. But if you render a service to someone, no matter how small it is, ask to be paid for it. If you work somewhere and you feel you are underpaid, politely ask for a raise. An extra 2% may even be all you need to meet ends meet if you are smart and not a spendthrift.
Never underestimate your value.
Thursday Look Book Collaboration
While we are focused on being a billionaire before 30, can we take a moment to talk about the work look I have created for Thursday with these powerful style bloggers, Chioma and Sandra. In case you missed our Tuesday look, catch up on it here.
We all know Thursday is like the new Friday, it’s a day a lot of people look forward to as it brings us closer to the weekend. For me it is, I am not sure about you. It is one of those days I like looking a bit basic to work or a bit serious. It mostly depends on how my day will end up looking. Which is why I feel a basic dress is just the most amazing outfit idea but then, just so I don’t look like someone going out with my girls, a bit of moderate show off shouldn’t harm. Hence the addition of the pop socks that matches my skin color.
Dress from
Chioma’s style is one I will love to wear over and over again. It is super smart, classy and comfortable. Life is very easy with comfy clothes. And her shoes, I would have stolen if we wear the same size.
Photocredit:
Can we take a moment to gosh over Sandra’s little black dress? She got this from Ali Express, I have never been lucky with online shopping and I have given up. Oh and her long leg in those shoes, they are drams. Would I wear this to work, yes for the dress if my tummy will cooperate but for the shoes, sorry, I would only wear it for a photo shoot. I wasn’t born to wear 5 inches shoes or more.
Have you ever been broke? Did you learn any lesson from it or it keeps happening again? What advise would you give to your younger self to help you avoid being broke? Would you style any of our outfit to work?
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Retail Therapy. When I was younger I did that also. Getting older and closer to retirement I’ve been saving money because I know that I will be on a fixed income. Truly as women we must be financially stable and independent.
Author
We sure need to, dear.
Save money while you are young. Too many women think that Prince Charming will come riding in to rescue them. He won’t. And even if he does husbands die and become disabled. Then what? Plus women usually out live men for the most part.
If I could go back 30 or 40 years in time I would tell myself to stay away from guys and save more money.
Author
This is deep 👍👍
Yep… we really do
Debs, your writing style is amazing! I just feel like I needed to get it out there, Lol!
For the subject at hand, being broke literally makes me sick, like I’m always just sad, but thank God for wisdom in recent times, saving is my new best friend. Thanks for the tips too.
Meanwhile, you ladies are killin’ it, me I’m here for all them gowns. Great post.
http://www.theportablehub.com
Author
Thanks Mide❤️. You know when you’ve experienced a thing ehn, you will never wish for it to happen to you again or anyone close to you.
Let’s go and window shop together and buy later when we have plenty money 😀
I concur! 😂
Being broke makes me sick.. Headaches from nowhere, breaking out in sweats and what have you 😁😀.
we really do need to live within our needs, stop comparing our lifestyles with others and control our crave to buy all we see… and be determined to save.
Author
Breaking out in sweats, so relatable😅😅😅 Babe, we really need to live within our means
😂… you’ve just described stress… that usually follows being broke…😂😂😂
Sometimes, I feel like I have a great saving culture, while at other times, I splurge like I am a Folakija. In between these, I try to keep my sanity by having a backup plan and trying not to go broke while looking rich. Lol. However, I still end up being broke and I have realized that no matter how careful you are, those days will come and they really are necessary to keep us humble and in check. Thanks for a great post once again, keep being the wonder woman that you are.
Author
You are right. I have days I’ve been broke and I’d still go ahead spending the small change remaining just to feel good.
Thanks for stopping by, Tee 🌸
Debsssss…. why are we thinking alike? I have a broke related post in my draft… we need to put this out there and even take out own advice too. I caught my sub at ‘Leave that credit card at home’… I am a lot better at saving money now so I guess it can only get better.
Love your outfits by the way.. you all look good.
Author
Our creative spirit have aligned 😁😁 It can only get better, dear. Thanks b❤️
Counting money makes me happy and I get very angry when I’m broke. Thank God I’ve learnt to prioritize and I’m gradually learning how to save.
I love Chioma’s outfit, it’s super comfy and I’m all for comfort right now. As for the shoes, I’d rather wear flats. I don’t have the energy to stress myself 😆
Author
Especially if the money is mint 💵 We are just so vain 😀
Flats is comfort but I assume it would look really basic 😁
Being broke? I have been there over and over again because of my retail therapy habit. I read the Smart money woman by Arese Ugwu and made conscious effort to apply the principles in this book to my financial life and my finances took a drastic turn. I still buy stuffs but not as I used to and the fear of being broke is the beginning of being prudent. I love your outfits and thanks for the tips; I am learning more things to do to help me keep that money in the bank.
Author
That’s enviable, dear. If we could all strive harder at being prudent, we’d be happy and even more focused. I still need to finish that book eh.
Thanks for your kind words❤️
It is this; Just open an account and put in 10% of your salary into that account every month. Try not to touch it except it is an emergency and watch it grow. Then you can put more as the spirit leads. And you need to finish that book 😉.
Author
Thanks darling, makes good sense. I definitely need to finish that book
I love that… “the fear of being broke is the beginning of being prudent.”
Great post. I’m not much of a spendthrift where clothes and fashion are concerned but recently a huge chunk of my money have gone into data subscription.
The alarming rate at which the data finishes just drills a large hole in my pocket and worse of it all is that as a social media marketer it’s a necessity for business.
Please I need financial advice on how to manage data subscription.
Author
Ella, I think this is a general problem in our country. Network providers are not giving us our money worth and it’s very inconvenient to say the least.
I was using Ntel and it was a good deal for me until recently that they’ve been experiencing a downtime. And since then, I spent more on data as well. I think you should explore Smile or Spectranet, I heard they have better plan options.
It’s a killer in my country as well…🙈
One thing I’ve always wanted while growing up was my financial independence, I didn’t want to disturb anyone for money especially so that leaves with me option than figure out my source of livelihood.
I’ve been broke for so many times and drove me to do more for myself, look out for multiple source of income that can help me whenever I’m low on cash. Another advice I would give my younger self is not to borrow anyone more than what I can easily let go!
You’very just inspired my next blog… just thought I should let you know…
Aww. That’s so nice!
Kindly drop the link whenever the post is up.
http://www.laraoseni.com.ng
I will…😊
Author
This is so inspiring, Lara. May God continue to bless and uplift you.
Lmao at these reasons! I’m guilty of several o, because one thing I love is buying – I try to avoid shopping centres but I can’t shy away from trade fairs and street snacks – N500 racks are my weakness tbh. I could be more broke, but I don’t frequent cafes and restaurants like others – those people are living at a level I’m not at yet oh, but my time is coming! Oh well, may we all get our money up lol. I liked the outfits but the black dress stood out the most to me though I don’t think you’d see me near any heels! Flats all day every day
Author
N500 racks 😀😀😀 That’s a wise money lesson. Look good for less! Amen to the prayers, Amaka. More money we pray for.
Flats makes life easy but heels bring in less comfort and class 🤦♀️ Women issues
Yes! I love the way heels look lol .. on other females.. for now I’m good but I think it’s only a matter of time before I give in and get myself a pair – I think wedges would be best though.
Author
Yes, you can start with a wedge not too high. Plus you are tall already, maybe that’s why you are not a fan
This is a must read for everyone because its what most adult are passing through,, more strength debswrite.
Author
It’s a phase in life we should always strive to avoid. Thanks dear
Nice one deb,I have been through it and i am in the phase right now.Thanks for this,i will try this method.
Author
Thanks for stopping by, Kemi. Do let me know if it works for you.
You ladies look amazing and beautiful in the dresses. i will definitely try AliExpress for their dresses. I enjoyed reading the post. i can relate with the loan story; also borrowed a loan which i used for business from a friend, I had thought it will be very easy to replay. for months i was still struggling with it oh. i was glad, the friend was patient with me but once i had it, sharply i repaid it oh.
There is something no too cool about being a debtor.
One thing i have also learnt is “there is no shame in saying I AM SORRY, I CANT AFFORD IT”.
Author
Thanks dear. Super true, sometimes it’s best to just live within your means so you don’t end up becoming a lifetime debtor.
Yes oh