5 reasons this is why im broke - PowerPoint PPT Presentation

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5 reasons this is why im broke

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If you are feeling broke, this an everyday thing for almost most people. Read through this presentation to learn about 5 reasons this is why I'm broke – PowerPoint PPT presentation

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Title: 5 reasons this is why im broke


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5 reasons you are always broke
  • By Coach Alexander
  • TopTier4You

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Introduction
  • Its the end of the month again and somebody just
    got paid. Its usually a great feeling knowing
    that cash from somewhere just hit your bank
    account waiting to be spent. However, just a few
    minutes later after looking at the bank statement
    reality creeps it. Your once beautiful salary is
    slashed with the loan you have to pay, the home
    bills you have to take care of, the maintenance
    bills and all those other crazy bills.
  •  
  • Life is unfair sometimes isnt it? its no wonder
    sometimes even the best of people cant just bear
    it anymore. Ofcourse, some people have it a
    little easier than others but if you want to talk
    about how things are generally, a lot of people
    are struggling to make ends meet. Being broke
    certainly isnt cool, but it doesnt mean it has
    to be that way always. But before we even go into
    understanding why many of us today are just broke
    most times, lets try to understand what being
    broke is anyway?

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Being Broke
  • Being broke simply means you just not having any
    money. There are things you want to buy for
    yourself sometimes but you always search your
    wallet only to find there is only dust. It
    doesnt mean that people who broke dont actually
    work you might be surprised that some actually
    have good paying Jobs. But here is the truth,
    being broke always happens at some point in a
    persons life. Now we go to the juicy part, Why
    are we always broke?

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5 Reasons we are always brokeHere are 5 reasons
we are always broke and for each reason there is
a possible solution to that problem.
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(1) Your Budget
  • Remember that example of somebody who just got
    paid and his bank account becomes empty that same
    time? Well, thats how it is for most people. We
    have too many bills to take of. We have to pay
    for rent, we have to pay for the loan (if we have
    one), we have to pay for those piano classes,
    extra lessons and all those other stuff. When it
    comes to our budget, we obviously have an idea of
    how our monthly expenditure will look like. But
    here is the thing, whether you knew this or not
    whenever we are planning to spend there are
    always those essential elements and none
    essential elements in a budget. What are we
    talking about? When we say the essential elements
    we are talking about those expenses you cant just
    do without such as rent, electricity,
    communication, fuel e.t.c however the none
    essential elements include those items you can do
    without at least for some time. What items are we
    talking about? Well items like going to parties,
    or eating out often or going to watch a movie or
    buying luxurious things. I bet you know where
    this is heading already dont you?

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The Solution???
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Continued
  • If you want to avoid being broke you have to get
    rid of some expenses you do monthly out of your
    income. As an individual you are never going to
    get rid of the essential expenses because your
    need them, but you are going to get rid of the
    none essentials. You need to ask yourself these
    important questions when deciding which one to
    let go of. Do I really need to spend this amount
    of money on this item monthly? Can I do without
    this item for some time? Cutting down on spending
    for none essentials would certainly go a
    milestone into ensuring that you are not always
    broke. Easier said than done, but that is just
    how reality it.

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(2) You are an Impulse Spender
  • Whether somebody gets a good salary or not, he
    has to avoid making spending decisions based on
    impulse. What is impulse spending? Well its the
    kind of spending whereby immediately a person
    sees something in the store which he/ she likes,
    without even thinking about the implications of
    buying that item he/she just buys the item. Its
    alright to make such decisions on small less
    expensive items assuming that it is done
    moderately. However, if you do it on really
    expensive goods which you were never prepared to
    purchase in the first place then you might just
    find out that being broke will always be part of
    your life.

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The Solution???
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Continued
  • When you want to make important purchases, make
    sure you think things through before actually
    getting an item for yourself. You dont want to
    buy something and months down the line you regret
    having gotten the item because now you are broke.
    When you see an item you like ask yourself these
    questions. Can I afford it? Do I really need it
    at this time? Can it wait until another time?
    Easier said than done, but thats just how it is.

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(3) You dont save
  • I know how it is, nobody likes saving and not
    even i. But the beauty about saving money is that
    a person can save any amount that he wants. He
    can start small and see his money grow over time.
    The best way to save is to have part of your
    monthly income put in savings account.
    Alternatively, you could save that hardcore cash
    in your own home. However, the only trouble with
    saving money at home is that if you are not
    financially disciplined you might just find out
    that accessing money will become too easy. I
    prefer the bank.
  • Ofcourse the culture of saving money is just
    something we all have to cultivate. Its just
    like learning to ride a bicycle. You might fall
    down many times but the time will come when you
    will actually be able to ride the bicycle with
    ease. I am one person who believes that saving
    should be enjoyable.

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The Solution??
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Continued..
  • Start saving your money by putting aside some
    amount of money out of your hard earned income
    today

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(4) You dont have wide Income Streams
  • Having wide income streams simply means having a
    wide array of sources of income that finance your
    budget. Most people usually have one source of
    income, few have 2 sources and very, very few
    have many sources (usually the rich). The
    advantage of having a wide source of income is
    that if one of these fails then the other can
    help finance your budget. Ofcourse many know that
    the only drawback to this is that you might just
    have to invest more time to acquire the
    additional income. Some people opt to get a
    second job, which I usually dont like myself.
    But thats just the sad reality, if a person
    doesnt have many sources of income, then he will
    be always broke. Establishing additional sources
    usually takes time and effort but once they are
    established, then you are better positioned.
  •  

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The Solution??
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Continued..
  • I would recommend starting your own business.
    Easier said than done right? Well sometimes there
    are things you just have to do in order to solve
    a problem. Take employment for example, people go
    to work in order to earn an honest days living.
    But believe it or not, some of these people dont
    enjoy going to work everyday. In fact they would
    rather have something else to do rather than put
    their energy into something they never enjoy. So
    why do people go to work? Not because they want
    to but because they have to.
  • It goes the same with having a side business. If
    your monthly income is not enough, you just have
    to find a way to supplement your low monthly
    income. You can either cut home expenditure or
    find a better job or start your home-based
    business. Starting your home-based business is a
    better option. You see here are some pointers as
    to why a starting something at home is a best
    option compared to the other two. First of all,
    cutting home expenditure is a painful especially
    if you are already strained with expenses.
    Secondly, if you are looking for another job
    usually that is a time consuming process which in
    most cases could have a 50/50 chance of success.
    But when it comes to business, you dont
    necessarily need a lot of money to start you just
    need an idea.

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Continued
  • Once you have an idea and an idea thats proven
    to work, then rest assured whatever little
    resources you ve acquired you can invest in a
    home based business. What home-based businesses
    are there? BINGO!! The Internet business. Havent
    you heard that people are earning a living online
    and right from home? If they are doing it so can
    you. Here is a video I usually like to share to
    my visitors of a person who is actually earning a
    living online. You can follow this link.
    https//goo.gl/sttiSm
  •  
  • If you liked what you see and would like to learn
    more click here. http//goo.gl/R0r61e

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(5) Your Mindset
  • If you think you re always broke then you will
    always be broke. Its all in the mind. You see
    folks, if you always see yourself as somebody who
    is on the lower end of the economic scale, you
    will always be on the lower end. Why? Whatever
    activity you do will be the kind that wont take
    you anywhere because thats how you have
    programmed your mind. But if you see yourself as
    somebody who is one day going to be earning an
    income with some money to spare, then whatever
    you do will be tailored towards achieving that.
  • If you are broke today, you have to change your
    mindset into believing that it will not always be
    like that. As soon as your mindset changes the
    actions you start taking will fall into place. It
    all begins from there. The mindset plays a huge
    role into the way you do things. You will become
    a better saver of money, a better person in the
    way you do things and a better person in the way
    you do everything.

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The Solution???
  • Seat down, relax and then think through about
    whatever it is happening in your life right now.
    Dig into your mind and throw away all those
    negative thoughts. Push in the positive ones and
    start to really dispel all that being broke
    stuff. We are not saying you shouldnt tell the
    difference between fact and fiction but train
    your thoughts to have a positive outlook. Get
    into action, start making things work today.

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Thank You!TopTier4You
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