when you're broke
Men’s Talks

5 Things you Totally Shouldn’t Do When you’re Broke

Being broke sucks. However, being broke is not something magical that can hardly be explained – one financial irresponsibility or surprise leads to another and another, and before you know it you get to that point.

You might not always be able to avoid being broke, but there are things you can do when broke to avoid aggravating the situation.

Here, we share 5 things you totally shouldn’t do when you’re broke.


5 Things You Should Avoid Doing When You’re Broke


1. Look Down on Jobs

As long as the job is legal and ethical, you really should consider it. If you’re broke, chances are you do not have the luxury to be selective.

However, this does not mean you should let desperation take the forefront and dabble into things that are just plain silly. It means that you should be more open than rigid to opportunities – even if it is just till you’re able to get back on your feet.


2. Make Excuses

Chances are that if you’re broke, it is because you were financially irresponsible. And if you don’t own up to this and take responsibility, you are going to end up continuing the vicious cycle of financial irresponsibility that led to your being broke.

Therefore, when you find yourself broke, figure out what led to it, and learn from your financial mistakes to avoid repeating them, or to avoid them getting worse. The last thing you want to do is go from being broke to borrowing and getting yourself into debt.

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3. Ignoring Bills

The thing about ignoring bills when you’re broke is that such an act is many times useless and just ends up making things worse.

Except there is a way you can stop the bills from coming in, by either unsubscribing or terminating the service, you should avoid just piling up the bills.

Call the companies or organizations involved and explain your current financial situation.

Perhaps you could set up a payment plan.

This has a better chance of helping to ease the burden than just ignoring the bills and letting them pile up. The interesting thing is that many of these companies or organizations actually have provisions to help you out when you’re low on cash, but most times a pessimistic mindset makes us miss out on these provisions.


4. Going for a ‘Night Out’ With Friends

Everyone knows what a ‘night out’ or even ‘day out’ with friends means.

Aside from the fun and beautiful memories you will garner from the experience, there is also the matter of you having to spend and spend and spend.

If you’re broke, this obviously isn’t a good idea and can just end up making your financial situation worse. Except your friends are willing to sponsor you till you get back on your feet financially, you should avoid such outings because they only bore a deeper hole in your pocket that might be difficult to mend after.

Sometimes, friends might even invite you on a night out with the offer of sponsoring you for you to pay back when you’re back on your feet, but please try to avoid this invitation to debt. Don’t make matters worse for your financial condition by incurring debt, simply take a rain check till you’re able to avoid such an outing.

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Spending Your Emergency Fund or Savings Unnecessarily

Your savings or emergency fund is not established to cater to financial irresponsibility. It is established to provide financial stability and support.

The fact that you’re broke doesn’t mean that the next thing to do is to bore into your savings or emergency fund to keep afloat. It is called an emergency fund for a reason, and should only be accessed under extenuating circumstances.

Basically, if you must spend from your savings or emergency fund, be sure it is on important and necessary expenses.




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