7 things you should stay away from when broke

Whether being broke is a permanent state for you, or you’re just passing through a bit of hardship, there are a few lifestyle adjustments it would be prudent for you to make in order to not end up in a mountain of debt. For some people, being broke is not having any money at all, while for some others, they might have money but cannot afford some luxuries.



It doesn’t matter if you are broke for a short while or you are broke for a very long period, there are things you need to do to adjust to the financial situations, to prevent you from acquiring lots of debt. When you are broke, you should not do things which would make it hard for you to get out of the broke state and also prevent you from achieving your financial goals. These are seven things you should not do when you find yourself in a state of ‘brokelyn.’

1. Pretending to have money when you don’t

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Seeing is believing. People tend to believe what they see. If people see the way you spend money, they think you have money, and they expect you to spend. Though you really don’t have to let people know your financial situation but don’t pretend you have when you don’t. It will ruin your finance totally.

2. Paying for subscription services
If you are broke, you need to cancel some unnecessary subscriptions that are not helping matters.Cancel subscriptions on cable TV, social clubs, gym membership, for the period you are broke. Once you bounce back, then you can re-subscribe.


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It won’t affect your life if you don’t have some things but it can affect your finance and financial goals if you subscribe to some things and you have to pay through your nose. Try to adjust.

3. Hanging out with friends

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Hanging out with friend could prompt you to borrow money.
When you are broke, reduce how much you hang out or party with friends. Spending time with friends outside your house or their house automatically means you would spend money, which you can’t really afford when you are broke. If you won’t be paying for drinks or food or getting free food and drinks, then stay put at your house. Find an alternative way to have fun with your friends.

4. Paying bills late

Don't delay your bill payment  (Key)

Try not to pay your bills late. They have a way of adding up, finding a way to eat up into the little you have. It is cheaper to pay your bills earlier, than having an accumulated sum which can disrupt your finances.

5. Spending savings or emergency fund unnecessarily
If you are broke and you have a savings or an emergency fund you can fall back on.Try making the best out of it till you get out of your broke state. Only spend your emergency savings on emergency situations and savings on important things.Make your savings and emergency savings last for a long period. Remember, spend on what you need, not what you want.

6. Eating out

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Eating out makes you spend more and if you’re broke you may be tempted to borrow money to impress your friends. (Webuyblack)
If you have the habit of eating out and ordering food to be delivered to you, you need to quit it. It would leave you totally broke. Buy food stuff at a market or supermarket, take it home to cook. You get value for your money.

7.  Sticking to old spending habits

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The reason why you are in your broke state is probably because of your bad spending habits and your bad financial decisions.You’ll need to review and check your financial habits and decisions and find possible ways of improving on them, so you don’t find yourself in such financial situation in the future.

Why add to the stress when you could just follow these 7 steps to help out when you are broke.