5 Reasons why you are always broke.

Many people are not experts at managing their own finances and end up broke month after month. Broke means you can cover the necessities but never have enough money to save or pay down debt.Here are reasons why you  always end  up broke :

#1 Over expenditure:

Young adults and youths are know to love finer things in life . living in suburbs, taking frequently expensive holidays and dressing in designer clothes . But this comes at cost as sometimes you are forced to deep in your pockets for extra money or take up more credit card debt or loans to sustain this lifestyle. However you can save yourself from debt by strictly following a budget and living within your capabilities .
   #2 Lack of saving :

 Many people don't take the initiative of saving their money and if you ask them they have multiple excuse to that . saving good amount of money can help you in times of an emergency Not having nearly enough cash savings in emergency fund can hurt you financially.
#3 No budget : Budgeting is a word that inflicts fear to our hearts and send us panicking .But a  budget can help you prioritize your spending when you don't have enough money to pay your bills. It can help you stop running out of the money before the end of the month.  Its wise to priorities basic needs like food, shelter and leave out luxurious thing if our budget is narrow. Start tracking your every penny you spend and you will see the difference

#3 Over Generous
This sounds ridiculous , but being too generous can led you to  financial crisis Though am  not saying you should be mean, its important to be generous and compassionate person . The problem lies in putting other people's needs before your own because giving to other in need , you will never have surplus saved , sometimes its wise to have a killer instinct

#4 Active social life:
 the cycle of living in a fancy life style leaves  many them poor even if their incomes means they are considered well above the poverty line . Spending much money on drinking , going out for dinner  , going to bar this sort of activities that  drain your pockets .

#5  Bad mindset.
  Being broke start with you having a negative mindset and unwillingness to change  at times making sacrifices and not trying to copy your colleagues or envy status . You should be willing to sacrifices the comfort of a new I phone and hang on with the current one .
There  you have it, some of the reasons why you are always broke , having too much debt , unable to pay bills , the student loans . However you can still come out of this by taking the right measure BY