Radyo Natin

Penniless? Never do these again!

Image source: Pixabay
Being broke is surely stressful especially nowadays that lots of people are struggling financially due to the global pandemic.
Several individuals lost their source of income or became unstable. Hence, the monthly payment due never stops and continuously increases.
In our country, it has been a culture by the majority that if they are broke, they will borrow from relatives, friends, or neighbors. And this action should not be practiced or else you will be trapped in the miserable cycle of debt (broke, borrow, broke, and borrow again).
If you are broke, never do the following:
Borrow every time you are short of cash
It is not ideal to take a loan if you are broke because it will just add to your monthly worry and payment. Though getting a loan is already a form of survival for many, this one should be avoided. This is because it will only pile up to your financial stress. Take note, if you don't have money for yourself, you don't have money for other matters.
Pay your bills late
Delaying fees will just give you an additional burden eventually. If you will only be diligent enough to remain on your current balance it will be easier and cheaper because the penalty and reconnection fee will be avoided.
Spend your savings on non-essentials
Ensure that you monitor your cash flow. Your savings should be used wisely. Basically, it is designed for important and reasonable expenses and not for luxury goods.
Any form of gambling will never change your situation for the better, rather, it will make it worse. We heard stories of rich individuals who have been addicted to gambling became poor because all of their properties have been pledged.
Buy coffee and cigarettes every day
Coffee and cigarettes may be cheap and serve as your stress reliever but if you buy two or more in a day it will cost you a lot of money without even knowing.
Buy an outfit for one time use
Be practical! Do not buy clothes that you will wear only once. Yes, there are some occasions that you need to doll up but you may consider borrowing or renting an outfit from a friend or relative to save you from spending.
Bill Gates once said, If you are born poor, it's not your mistake, but if you die poor it's your mistake. In order to improve your financial situation, you need to get rid of those old bad spending habits. Avoid a high-maintenance lifestyle and don't pretend to be rich. (ERB)

Last Modified: 2021-Jul-22 18.49.54 UTC+0800