How to stop being broke


Definition of broke :

  1. The past of break. 
  2. Having completely run out of money.

Definition of break:


  1. Separate into pieces as a result of a blow, shock or strain. 
  2. Interrupt ( a continuity , sequence , or course).


  1. An interruption or uniformity .
  2. A pause in work or during an activity or event.

Have you ever wondered why the absence of money has be labeled with the term “broke” ? What is the connection between the two?

Why having no money is described as being broke?-

Being broke (having completely run out of money) is the result of brokenness. The brokenness lies in the persons financial management process or more so the lack of a financial management process. I started this blog at university, which is an ideal place to observe bad financial management skills. It did not matter on the amount of money a student receives as an allowance because it never seems to be enough. This evident in the fact that you can have two students who earn significantly different allowances (incomes) [but have similar expenses and spending habits and still find themselves “broke” a few weeks in from receiving the money.

There are people, who even as adults find themselves having ongoing financial problems even if there income increases.Such a persistent problem can only exists when you have a broken financial system in place.

Without being too absolute, I would have to say these are the key indicators that your are enabling yourself to be broke:

  1. You do not have a  financial plan (no plan of how money is going to be divided amongst needs and wants)
  2. You have an eagerness to SPEND THE MONEY AS SOON AS IT COMES. 
  3. You lack the commitment to save ,this is often because you have …
  4. NO SAVING PLAN as well as
  5. No GROWTH PLAN (investment fund  or side hustle to generate more money)

I have good news….

The good thing about the term “broke” or “broken” is that its is not permanent and suggests that things can be repaired. 

How to stop being broke

  1. You need to have a financial management plan (to learn more about how to do this have a look at our financial work book (insert link)
  2. You will spend money, that is inevitable but SAVE FIRST .Do yourself the pleasurable thing of paying yourself first.

“Do not save what is left after spending, but spend what is left after saving” – Warren Buffet.

Have a good saving account that makes your saving process as effective and successful as possible. On this note I highly recommend having an automated saving account.

  1. Monitor and track your spending so that you can adjust and improve your spending habits.
  2. Start an investment portfolio , and ensure that the investment portfolio is linked to your bank account details so that with ease you can automatically secure the growth of your money. 
  3. Invest in yourself and acquire the skills sets that will add value to you as an employee or an entrepreneur or as both.
  4. Consider creating another source of income (through investing or starting a side hustle)
  5. Live within your means.
  6. Do not fluctuate your mindset in respect to your finances based on your financial circumstances. Its not uncommon for people when they are broke to vigorously pursue money making schemes when they are broke and drop the idea  or enthusiasm upon receiving a paycheck. Success is about consistency  if you want to start a business, saving or investing it should not be subject to whether or not you are broke. Also on this  note it is important to note that there is no such thing as a get rich quick scheme, so don’t be victim to one. If it sounds to good to be true it is.There is no investment vehicle or scheme or business that will make you rich overnight.


Please enter your comment!
Please enter your name here