What To Do When You’ve Got A Job But You’re Still Broke
On the surface, it seems like everything is going well. You’ve got a job that pays good money, and you’re getting plenty of income into your bank account every month. What’s more, you’re actually earning a little bit more than the rest of your friends, but no matter what you do, you seem to be more broke than ever. How is that even possible?
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Sometimes the problems are genuinely external: rents are going up, utility companies are charging a fortune and so on. But it could also be your fault that you have no money, Here are some of the common reasons why people with high-paying jobs are on the verge of bankruptcy.
Stop Trying To Keep Up With The Joneses
It’s not nice when the people that you spend time with – whether they be at work or your next-door neighbor – splash out on stuff you can’t afford. It can leave you feeling sullen and inferior. Many people take this negative energy and use it as an excuse to believe that they are entitled to the very best stuff in life. They buy the Prada clothes, the McMansions, and the sports cars, without having the means to pay for any of it. Instead of ending up rich as they hope, they often wind up in the gutter.
As Knight Kiplinger writes in his book, The Invisible Rich, you should never live a lifestyle you can’t afford. Living beyond your means, he says, will hamstring your ability to build your wealth in the future, keeping you poorer for longer.
Make Sure You’re Getting Paid Sick Leave
If you’ve got a health problem which requires you to regularly take time off work, make sure that you’re getting paid. Most countries have policies in place that compel employers to pay sick leave when colleagues are out of the office. On top of that, it’s also worth contacting a bunch of personal injury law firms to see whether you’re owed any money. Medical companies are guilty of putting your health at risk owe you compensation.
Stop Hanging Out With The Wrong Crowd
Human beings, as social animals, are heavily influenced by the people around them. This means that the decisions we make often reflect those of the people we spend time with. If those people are constantly buying stuff on credit and going into debt for pointless things, so will we. Another way of putting it is that it is hard to get ahead when your associates have terrible money habits, according to Roth from Get Rich Slowly. People with poor money habits will regularly come up to you and ask you for extra cash if they know that you’re wealthy.
Find Some Motivating Goals
It turns out that there is a major difference between having a wish and achieving a goal. Wealthy people see goals as actions that need to be completed to get income. Poor people substitute goals for wishes, retreating into the world of imagination and pretending that their dreams of winning the lottery have come true. Be specific with your financial goals, says Roth. Avoid being vague.
