Why am I always broke?
Financial expert Nicole Lapin shares self-reflecting questions to help you get your finances in order and start saving money.
Transcript
So there could be a lot of reasons
that you might be chronically broke. It happens to a lot of folks. Think about these questions honestly for yourself.
Stop putting your head in the sand. That doesn't help anybody. Are you spending outside your means? In other words, are you trying to keep up with the Joneses,
so to speak? Is your budget-- and hopefully you have one-- more of an idea than a reality? Is your savings account or your emergency fund totally empty
in case a doomsday scenario happens where you lose your job or somebody gets sick and you need that emergency fund to keep you going?
Do you consistently fail to pay your bills on time because that could hurt your credit score and the interest you pay on your credit cards, which definitely adds up?
Or are you just moping around instead of making a plan in the first place? No matter what the reason is, there is only one way
to start building wealth. And that's taking a close, hard look at all of your spending habits honestly to see which ones are actually good,
which ones are ones you can actually stick to because you want to learn and grow. And you want to get to the truth, whatever it is,
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