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Do you really want to know why you're broke? It's not because of the government, your employer, or your parents. Only you can change your finances.

The Truth About Why You’re Broke

February 21, 2017

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Over the past few months, Facebook has become more frustrating than ever for me. Unfortunately, I spend A LOT of time on social media.

The thing that’s been getting to me lately is the negativity I see my friends posting about, especially when it comes to money. These people seem to think it’s everyone else’s fault that they’re broke.

It’s the government’s fault. It’s their parent’s fault. Or, maybe it’s their employer’s fault for not paying them enough. What really put it over the top for me was the “millennial falcon”, a photo album full of millennials b*tching about why they have no money and have it soo much harder than past generations.

Well, here’s my response to that as a millennial myself:

Get off your a$$ and get to work if you really want to change your financial situation.

The Truth About Why You’re Broke

Ok, that may sound harsh, but I’ve been there myself. What changed my situation was hard work and determination.

It also takes you recognizing why you’re broke in the first place. You might think you’re broke because your employer doesn’t pay you enough, or because you have a lot of student loan debt to service. But, that may not actually be the truth.

More than likely, you’re broke because you don’t have a budget, don’t stick to your budget, or choose to use your money unwisely.

I get it! I used to do the same things (and sometimes I still do!).

There are times when I still spend too much money on eating out, buying new clothes, or going to Starbucks. The difference is that I know I’m doing these things that sabotage my budget. So, I don’t feel the need to blame my lack of financial responsibility on someone else.

I will also admit that there are times when things could be beyond your control and these things can contribute to why you’re broke.

You might actually have an employer that’s a cheapskate. You might have a medical emergency that your emergency fund can’t fully cover, resulting in you going into debt. Or, you might actually be working a job that doesn’t pay a living wage. But most of the people who b*tch about being broke on Facebook are not actually a “victim” of these types of things. Most of the ones I see complaining in my Facebook news feed are only victims of their own lack of planning.

3 Ways to Overcome Broke

Ready to overcome broke? Here’s how.

1. Take Responsibility

Instead of complaining about why you’re broke on Facebook, while probably posting about it from your $600 iPhone, you need to take responsibility for your situation so you can overcome being broke.

This is what frustrates me the most. I honestly believe that if you have time to post about it on Facebook or sit around and watch TV, you have the time to take responsibility for your finances.

Start tracking your spending with a free app like Personal Capital. Their tool let’s you keep track of your spending, financial accounts, budget, and more. I love seeing all of my numbers in one place!

Make a budget. I promise, it’s not as hard as it seems, especially if you’ve already been tracking your spending.

Create a plan to get out of debt. Tally it up and see how much you’re wasting on interest. Chances are, interest is eating away at the money you put toward your debt each month. If that’s the case, find out about refinancing with Lending Club or Credible.

2. Find Ways to Make More Money

Use your TV time to work more hours. Ask your boss for additional duties, responsibilities, or hours. You can even try asking for a raise for work you’re already doing!

Find another job, or take on a side hustle. There are lots of ways to make money that don’t even require you to leave the house! You can take surveys for cash with Survey Junkie or make money blogging. If you love meeting new people, try driving for Uber.

3. Find Ways to Save More Money

Dare to go against the grain by canceling your TV subscription. Sign up for an alternative to save money and still watch your favorite shows. Or, you can try the Roku Express or the Amazon Fire TV Stick, which can help you get about 25 different apps and channels. Canceling TV may sound like crazy talk. But, when you add up how much money you’ll save, you’ll think you’re crazy for not doing it sooner!

Switch to a different wireless carrier, like Republic Wireless. It’s super cheap, with plans starting at just $5, but the service is still great.

Stop eating out and start cooking at home. Lay off the junk food when you go grocery shopping. Who needs that many bags of chips and cases of soda anyway? Use coupons, but only for the things you really need.

Instead of going out with friends, have a ladies night in with a potluck dinner and a movie. Or, split a bottle of wine and do your own pedicures and face masks.

Lowering these expenses is the jump start you need to overcome broke.

The Bottom Line

These things may sound judgmental and they may seem like sacrifices, but I’ve done these things too. I’ve put things back on the shelf at the grocery store, and I’ve worked 80+ hours/week to balance my budget. I know what it feels like to be behind, like you can’t catch up and improve your finances. But the truth is that it CAN be done!

I still have a ways to go to be debt free and reach my savings goals. But, you won’t see me sitting around b*tching about being broke on Facebook. Instead, I choose not to be a “victim”.

I know that my financial situation is only going to be changed by me getting off my a$$ and getting to work, and by choosing to make good financial decisions every single day. Yes, it’s hard! I won’t deny that at all. But it’s better than sharing a stupid meme on Facebook and blaming others for why you’re broke.

Do you really want to know why you're broke? It's not because of the government, your employer, or your parents. Only you can change your finances.

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8 responses to “The Truth About Why You’re Broke

  1. Completely agree! I have friends complain to me all the time about their finances. I’ve tried to help them by asking about their budget, salary, or if they could find a higher paying job, but they always claim they can’t do any of that for whatever excuse they have. Even the worst financial situation can be reversed, but only if you do the work and commit. I’m always confused as to why people find it so difficult to take ownership of their own situation.

  2. These people who always complain they’re broke are ones who are pessimistic and spend much time on petty things. They gotta change their perspective. Instead of posting something negative, why don’t they post some plans how to earn money or something positive for encouragement.

  3. I agree! I see it too. I think it’s one of those things that people are taught to do. For example, how many times have we heard the “debt is normal, everyone is in debt” excuse? As much as I hate this way of thinking, unfortunately, it’s considered the norm. I love how you shared tips on how to overcome it though! More people need that kind of help.

    1. Thanks Chonce! I was just feeling so frustrated with people’s way of thinking about their finances. I know I can’t change everyone, but maybe a few people will benefit.

  4. Kayla, I love your rants! What makes it different though, is that you are one of them, you’ve been there, and you’ve overcome it. It needs people like you to call them out, because if it came from someone like me, I would be seen as preachy because I am one of the older “privileged” classes. Yes, it certainly looks like I have it good now, but I started out as a trainee on $14,000 a year as well. If you make good choices, or learn and move on from bad, then time is on your side as a millennial.

    1. Thank you! That’s how I feel too! I get so frustrated when I see people my age who are so “woe is me” and don’t take responsibility for their own situations.

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