7 Types of people who always manage to stay broke

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Last Updated: Jan 2, 2016

Do you pursue financial success because you want to get out of the rat race badly, but still find yourself broke at the end of the day? You don’t have to blame the economy, the government, the company, the market or anything else. You are the only one to blame for your demise. According to financial experts, there are 7 characteristics that a person should change to get out of the financial struggle. You might have some of these characteristics, and the best thing to do is change these bad attitudes.

Here are the 7 major toxic attitudes that you need to change to stay away from being broke:

  1. Keeping up with other people. If you always observe other people, you might get insecure of their financial statuses. This feeling will turn you into an impulse spender just to keep up with the social status of the people around you. You don’t have to prove to others that you are doing OK financially. People who are really doing well financially are people who spend less.
  2. Pay bills late. When you pay your bills late, you will be paying additional fees. This will destroy your budget and make you lose more money than you think. Pay bills on time including your mortgage, utilities, and credit cards.
  3. No savings account. People, who are too optimistic, might find their budget tipped over should emergencies occur. So, make sure you have a savings account, which you can only touch if life-threatening incidents happen.
  4. No dreams. Life may have eaten you up, but this doesn’t mean you should let go of your dreams as a kid. Without dreams people perish.
  5. No Budget. If you do not handle your finances properly, you will lose your money to unnecessary things. If you buy things you don’t need, you will find yourself in the future losing the things you need. Budget your money wisely, hire an accountant if needed.
  6. Keep on Complaining. If you keep on whining, complaining, and blaming other people, you will never be able to correct your bad attitude towards money.
  7. Don’t buy love. Insecure people help other people to the point of becoming an unofficial charity just to gain and keep friends. This is not the right way to give. You can help people, but you can’t carry more than three people, as the late US legendary financial adviser Jim Rohn said.

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