Published on October 21st, 2012 | by djprophetic


I Have Money, but I’m Still Broke?

I Have Money but I'm Still Broke?

I Have Money but I’m Still Broke?

I Have Money, but I’m Still Broke?


I realize that a lot of people are going through financial hardships- some are looking for employment, some are living on unemployment, and some are living paycheck to paycheck. If you consider these different scenarios they all have one thing in common: these people are most likely broke. Just because a person has a job doesn’t automatically mean they are living well. In fact, a topic we keep hearing in the presidential debates is the issue of the suffering middle class. These are people that generally have a college education, have obtained a job, pay for a mortgage, and support their families. What do you think is worse- being broke because you lack an income or being broke because you have so many expenses that diminish your income? I argue that the latter is worse.

Maybe you have heard of the phrase, “the more you make the more you spend.” For some, this adage is a reality. For good financial stewards this is far from the truth. And for the Americans that spend more than they make (3/4th’s of all Americans to be exact) this expression is engrained in them. Why do we do this to ourselves? Why are 37% of Americans living from paycheck to paycheck? ( Everyone’s situation is different; some people have health reasons, newly added responsibilities, or unexpected occurrences, but what about the rest of us? What is our justification? The truth is we have some poor spending habits that we are not addressing. Do you have a tough time distinguishing between needs and wants? Do you calculate your budget mentally? Do you reward yourself when you get paid? Do you get upset near the end of the month when you realize that you have more month left then you do money? If you answered yes to any of these, then you may need to make some subtle changes to your lifestyle.

Trust me, I am no financial expert and need all the financial advice I can get but I have learned the best way to learn something is to teach it. Being broke is not fun especially when you’re making money but you still have no money. It almost makes you think- I was better off not having an income. Even making more money is not the cure, just look at the lotto winners who go broke after a few years, or the professional athletes and celebrities who have squandered everything they had. We need to be better stewards with what we do have because making more money can sometimes get us deeper in the whole if our habits don’t change. Jesus tells us in Luke 16:10 “Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.”

Here are 7 action steps that will help to make better financial decisions.

  1. Go cash only without using a debit card or credit card for most expenses.
  2. Create a financial budget for every dollar you have incoming.
  3. Download a financial budget app (I recommend Ace Budget or I Expense it)
  4. Go to a financial make over course. (I am going to do the Financial Peace University in February)
  5. Write a list of your true needs and wants
  6. Do your grocery shopping in a smaller cart or with a basket.
  7. Learn from your past financial mistakes and do not repeat them.





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