Are You Tired of Being Broke? (Do This Now)

Are You Tired of Being Broke? (Do This Now)

Are you exhausted from the constant struggle of being broke and looking for actionable steps to change your situation? You’re not alone. Feeling broke is more than just an inconvenience; it’s a constant stressor that can affect every aspect of your life. If you’re tired of the cycle of being broke, it’s time to take action. Financial instability can take a toll, from your mental well-being to your relationships and physical health.

But the good news is, you don’t have to stay stuck in this cycle. In this article, we’ll explore eight concrete steps you can take immediately to start turning your financial life around. From swallowing your pride to building an emergency fund, these strategies are designed to give you the tools to break free from financial hardship. I was there in my young adult life thirty years ago and I understand the struggle is real. I’ve done each of the steps I will be sharing with you. They aren’t easy but all are necessary to escape the cycle of being broke.

Here are eight steps you can take right now to break free from financial instability:

  1. Swallow your pride and ego – Take any job you can get, even if it’s not ideal or aligned with who you think you are. The goal is to start earning income.
  2. Cut discretionary spending – Reduce spending on non-essentials like eating out, entertainment, new clothes, etc. Live frugally.
  3. Understand your budget – Track all income and expenses to know where your money goes.
  4. Stop using credit cards – Avoid accruing debt and interest charges that will keep you stuck in the broke cycle. Spend cash or don’t buy things.
  5. Pay down existing debt – Use any extra money to pay off debts rather than spend it.
  6. Get an additional job if needed – Be willing to work overtime, extra nights, weekends, and side gigs to increase income. Optimize earned income.
  7. Build high-value skills – Invest time into learning skills to increase your earning potential long-term. Technical online skills are highly recommended.
  8. Save an emergency fund – Save enough money to cover living expenses for 1-2 months, so you have a cushion and don’t constantly worry about money.

Keep reading for a deeper dive into each action item.

Swallow Your Pride and Ego

The first step in breaking the cycle of being broke is to swallow your pride and ego. You might have a specific job or career in mind that aligns with your education, skills, and passions, but if you’re broke, you can’t afford to be picky. Take any job you can get to start earning income. Once you’re financially stable, you can start looking for opportunities that align with your long-term goals. Do what every it takes to start getting cash flowing into your life, you can adjust your life later.

Cut Discretionary Spending

When money is tight, cutting back on discretionary spending is crucial. This means reducing non-essential expenses like eating out, entertainment, and new clothes. Live frugally and focus on necessities like food, rent, and utilities. By cutting back, you’ll have more money to allocate toward paying off debt and saving.

Understand Your Budget

Understanding your budget is critical to financial stability. Track all your income and expenses to know exactly where your money goes. Use budgeting apps or good old-fashioned spreadsheets to keep track. Once you know your income and expenses, you can decide where to cut back and allocate more resources.

Stop Using Credit Cards

Credit cards can be a quick fix when you’re short on cash but also a quick way to accumulate debt. Stop using credit cards to avoid accruing more debt and interest charges. If you already have credit card debt, pay it off quickly.

Pay Down Existing Debt

Paying down existing debt is crucial for breaking the cycle of being broke. Use any extra money to pay off debts rather than spending it. The quicker you can get out of debt, the faster you’ll have more money to save and invest in your future.

Get an Additional Job if Needed

If your current job doesn’t cover all your expenses, consider getting an additional job. Be willing to work nights, weekends, or side gigs to increase your income. The extra income can be used to pay off debt or build an emergency fund. Maximize cash flow. Monetize your time and energy into paychecks.

Build High-Value Skills

Investing in yourself is one of the best ways to increase your earning potential. Spend time learning high-value skills that are in demand. Sales skills, coding, or specialized knowledge in a particular field can make you more marketable and increase your income in the long run.

Save an Emergency Fund

Last but not least, save an emergency fund. Aim to save enough to cover at least 1-2 months of living expenses. This will give you a financial cushion and reduce the constant worry about money. An emergency fund can also prevent you from going into debt when unexpected expenses arise.

Key Takeaways

  • Embrace Humility: Don’t let your ego prevent you from taking available work.
  • Minimize Luxuries: Slash non-essential expenditures to maximize savings.
  • Grasp Financial Flow: Comprehend your income and outflow through meticulous record-keeping.
  • Cease Credit Reliance: Halt the use of plastic credit to dodge further indebtedness.
  • Eliminate Outstanding Liabilities: Allocate surplus funds to settle outstanding balances.
  • Secure Supplementary Employment: Find extra work to bolster your income if necessary.
  • Cultivate Marketable Competencies: Dedicate time to acquire abilities that enhance your worth in the job market.
  • Establish a Financial Safety Net: Accumulate a reserve fund to mitigate financial anxieties.


Proactive measures are indispensable in the quest to escape the shackles of financial scarcity. By humbling oneself to seize any employment, trimming frivolous expenditures, and gaining a comprehensive understanding of your financial standing lays the groundwork for monetary liberation. Abandoning credit dependency, annihilating lingering financial obligations, and augmenting income through additional work or skill enhancement further solidify this foundation. They create a monetary buffer that safeguards against unforeseen financial setbacks in the future, completing the transformation from financial vulnerability to stability.

Breaking the cycle of being broke requires a multi-faceted approach. By taking these steps, you can gain control over your financial situation and start building a more stable future. Instead of waiting for the perfect opportunity, the key is to take action now. Be willing to do whatever it takes, as long as it’s legal and ethical, to start earning and saving money.