32 Do's And Don'ts Of Broke People

Do you feel like you’re stuck in a cycle of being broke? You’re not alone. Millions of people are struggling to make ends meet every day.

But the good news is that there are things you can do to break the cycle and start getting ahead financially.

In this blog post, we will discuss 32 things that broke people do. If you want to start improving your financial situation, then read on!

Broke People do’s and don’ts #1: Live paycheck to paycheck

One of the biggest things that broke people do is live paycheck to paycheck. They never seem to have any money left over at the end of the month, no matter how hard they try.

This is a vicious cycle that can be difficult to break out of. But it’s not impossible. If you’re tired of being broke, then you need to start making some changes.

Broke People do’s and don’ts #2: Don’t plan for the future

Another thing that broke people do is fail to plan for the future. They don’t think about retirement or saving for a rainy day.

This can come back to bite them later on in life when they’re faced with unexpected expenses. If you want to start getting ahead, then you need to start planning for the future.

Broke People do’s and don’ts #3: Spend money on unnecessary things

Another thing that broke people do is spend money on unnecessary things. They might buy designer clothes or go out to eat all the time.

This can put a strain on their finances and leave them with less money to save or invest. If you want to start getting ahead, then you need to be more mindful of your spending.

Broke People do’s and don’ts #4: Credit card charges

Another thing that broke people do is charge items to their credit card and then fail to pay the bill in full each month. This can lead to debt and interest charges, which can make it even harder to get ahead financially.

If you want to start getting ahead, then you need to be more mindful of your spending and make sure you’re only charging what you can afford to pay off.

Broke People do’s and don’ts #5: Take on too much debt

Another thing that broke people do is take on too much debt. They might have several credit cards and loans with high-interest rates.

This can make it difficult to make ends meet each month and can lead to financial stress. If you want to start getting ahead, then you need to start working on paying down your debt.

Broke People do’s and don’ts #6: Fail to budget

Another thing that broke people do is fail to budget. They might not track their spending or know where their money is going each month.

This can lead to overspending and financial problems. If you want to start getting ahead, then you need to start budgeting and tracking your spending.

Broke People do’s and don’ts #7: Impulsive purchases

Another thing that broke people do is make impulsive purchases. They might buy something on a whim without thinking about whether or not they can afford it.

This can lead to debt and financial stress. If you want to start getting ahead, then you need to be more mindful of your spending and make sure you only buy what you need.

Broke People do’s and don’ts #8: Neglect finances

Another thing that broke people do is neglect their finances. They might not keep track of their spending or know where their money is going each month.

This can lead to financial problems and stress. If you want to start getting ahead, then you need to start paying attention to your finances and make sure you’re on top of your spending.

Broke People do’s and don’ts #9: Rely on credit cards

Another thing that broke people do is rely on credit cards. They might use their credit cards for everything from groceries to gas. This can lead to debt and financial stress.

If you want to start getting ahead, then you need to be more mindful of your spending and make sure you’re only using your credit cards for things you can afford to pay off.

Broke People do’s and don’ts #10: No emergency fund

Another thing that broke people do is not have an emergency fund. This can lead to financial problems if they’re faced with unexpected expenses. If you want to start getting ahead, then you need to start saving for a rainy day.

Broke People do’s and don’ts #11: Cash advance

Another thing that broke people do is cash advance on their credit cards. This can lead to debt and high-interest rates.

If you want to start getting ahead, then you need to be more mindful of your spending and make sure you’re only using your credit cards for things you can afford to pay off.

Broke People do’s and don’ts #12: Don’t save for retirement

Another thing that broke people do is not save for retirement. This can lead to financial problems later on in life. If you want to start getting ahead, then you need to start thinking about retirement and saving for a rainy day.

Broke People do’s and don’ts #13: Live beyond their means

Another thing that broke people do is live beyond their means. They might have a high lifestyle with expensive cars and clothes. This can lead to debt and financial stress.

If you want to start getting ahead, then you need to be more mindful of your spending and make sure you’re only buying what you need.

Broke People do’s and don’ts #14: Don’t have a plan

Another thing that broke people do is not have a plan. They might not know where they want to be in five or ten years. Not having a plan can lead to financial tensions.

If you want to start getting ahead, then you need to start thinking about your future and make a plan for where you want to be.

Broke People do’s and don’ts #15: Don’t invest in themselves

Another thing that broke people do is not invest in themselves. They might not take the time to learn about personal finance or investing.

This might result in money worries and tension. If you want to start getting ahead, then you need to start investing in yourself and your future.

Broke People do’s and don’ts #:16: Don’t have goals

Another thing that broke people do is not have goals. They might not know what they want to achieve in life. This can lead to financial problems and stress.

If you want to start getting ahead, then you need to start setting goals and working towards them.

Broke People do’s and don’ts #17: Don’t network

Another thing that broke people do is not network. They might not know the right people or have the connections they need to succeed. If you want to start getting ahead, then you need to start networking and making connections.

Broke People do’s and don’ts #18: Don’t ask for help

Another thing that broke people do is not ask for help. They might not know where to turn when they’re struggling financially.

This can lead to financial problems and stress. If you want to start getting ahead, then you need to start asking for help when you need it.

Broke People do’s and don’ts #19: Don’t think long term

Another thing that broke people do is not think long term. They might not think about their future and what they want to achieve.

This can lead to money difficulties and strain. If you want to start getting ahead, then you need to start thinking about your future and making a plan for where you want to be.

Broke People do’s and don’ts #20: Don’t diversify

Another thing that penniless people do is not diversify their income. They might have all their eggs in one basket. This can lead to financial problems and stress.

If you want to start getting ahead, then you need to start diversifying your income and have multiple streams of income.

Broke People do’s and don’ts #21: Don’t save for a rainy day

Another thing that bankrupt people do is not save for a rainy day. They might not have an emergency fund or savings account.

This can lead to financial problems and stress. If you want to start getting ahead, then you need to start saving for a rainy day.

Broke People do’s and don’ts #22: Don’t Make wise investments

Another thing that penniless people do is not make wise investments. They might not invest in assets that will appreciate over time.

This can lead to financial problems and stress. If you want to start getting ahead, then you need to start making wise investments.

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Broke People do’s and don’ts #23: Don’t take advantage of opportunities

Another thing that moneyless people do is not take advantage of opportunities. They might not seize opportunities when they arise.

If you want to start getting ahead, then you need to be more proactive and take advantage of opportunities when they come your way. As a matter of fact, seek out opportunities wherever they may be!

Broke People do’s and don’ts #24: Don’t learn from mistakes

Another thing that bankrupt people do is not learn from their mistakes. They might make the same financial mistakes over and over again.

This can result in financial worries and stress. If you want to start getting ahead, then you need to learn from your mistakes and make changes in your life so you don’t repeat them.

Broke People do’s and don’ts #25: Not grateful

Another thing that poor people do is not be grateful for what they have. They might take their financial situation for granted. If you want to start getting ahead, then you need to be more grateful for what you have and focus on what you can do to improve your situation.

Broke People do’s and don’ts #26: Don’t have faith

Another thing that moneyless people do is not have faith. They might not believe that they can turn their financial situation around.

This might cause money difficulties and stress. If you want to start getting ahead, then you need to have faith in yourself and your ability to change your circumstances.

Broke People do’s and don’ts #27: Don’t take action

Another thing that poor people do is not take action. They might know what they need to do to improve their financial situation, but they don’t take the necessary steps.

If you want to start getting ahead, then you need to take action and start making changes in your life.

Broke People do’s and don’ts #28: Don’t believe in thyself

Another thing that penniless people do is not believe in themselves. They might not think they can achieve their financial goals. If you have no money and are stressed, this might cause problems in your personal life.

If you want to start getting ahead, then you need to believe in yourself and your ability to change your circumstances.

Broke People do’s and don’ts #29: Don’t have a role model

Another thing that moneyless people do is not find a role model. They might not have someone to look up to who has achieved the financial success they want to achieve.

If you want to start getting ahead, then you need to find a role model or mentor who can help you achieve your goals.

Broke People do’s and don’ts #30: Don’t get organized

Another thing that penniless people do is not get organized. They might not have a budget or plan for their finances. This can result in financial difficulties and tension.

If you want to start getting ahead, then you need to get organized and start taking control of your finances.

Broke People do’s and don’ts #31: Don’t stay disciplined

Another thing that moneyless people do is not stay disciplined. They might not stick to their budget or financial plan. This can lead to financial problems and stress.

If you want to start getting ahead, then you need to stay disciplined and make sure you are following your plan.

Broke People do’s and don’ts #32: Don’t think positive

Another thing that penniless people do is not think positive. They might focus on all the negative aspects of their financial situation. Controlling your expenses and living within your means can help you avoid this fate.

If you want to start getting ahead, then you need to start thinking positive and focus on the things you can do to improve your situation.

Conclusion: Broke People do’s and don’ts

These are just some of the things that broke people do. If you want to avoid these mistakes, then you need to be aware of them and make sure you are taking the necessary steps to improve your financial situation.

Remember, it is never too late to start getting ahead. You just need to have faith in yourself and take action.

Thanks for reading!

Over to you

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About the Author

Don Smith

Don is a father, real estate investor, self-directed investor and a personal finance enthusiast. He also holds an MBA and loves to share his financial Journey with others.