Now let’s talk about that. You have a job that pays you but you always find yourself broke. Why? Do you really think about it though? Me I do. And what invites (or used to invite) my state of being broke was my bad habits and interestingly I share the experience with my friends. I didn’t really find it as a problem until I couldn’t help it anymore. I found myself in a situation where I didn’t have money to cater for emergencies or illness or whatever tomorrow brings. The wise thing is to learn from your mistakes.

4 habits that open doors to poverty

Having no goal

Setting goals provides guidance and motivation to make the best out of life. Goals are long term vision and they help you organize your time and resources to achieve that which you planned and wanted.

The lack of goals fosters the lack of purpose in life. When it comes to finances, without goals you overspend your money, you find yourself in debts and you can’t cater for unforeseen circumstances. To avoid falling in this trap set realistic financial goals. For example challenge yourself to save 3,000,000Frw to pay yourself a masters’ degree without a loan. Goals differ depending on many factors but you should have them and you should have them specific and realistic.

Spending without thinking

This one is hard to quit. It’s always not easy to bypass a shop without looking inside and if you do the guilty voice always finds its way to your head till you go back and really stare.

However, one of the best ways of managing your money is to spend according to what’s planned. If not on the list of things you planned to buy, then leave that dress. Learn how to stop this bad habit. It’s not easy but you will make it.

Not saving

If you have the habit of spending all you earned then be prepared when storms hit. Not saving money is risky. You will end up going into debts; your life will be stressful and you won’t advance.

Comparison

Have you fallen into the trap of comparing your life to others? Maybe you find yourself wanting to take the same vacations that your friend is taking. Or maybe you want your house to look like it came right out of Pinterest. No matter what it is, don’t let comparison make you broke. It’s easy to get sucked into the comparison trap which can lead to unnecessary spending. Stop spending your life trying to keep up with your friends or people on the internet. Instead, you do you. Focus on your goals and work toward what you really want, not what others have.

These are four habits that I broke to have my financial life together. Assess yourself, track your expenses and income.

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