Always broke? Maybe this is why


The concept of axis, rotation and revolution make the earth spin (we all know that), but, in some sense, money makes the world go round. In fact, Paulo Coelho, in his bestseller- The Alchemist, says that in money, there is magic; whoever has money is never really alone. My own observation about money is that when you have it, people know you but when you don’t, you know people. Money makes us leave the comfort of our beds and homes in search for it, to better our meals, our education and our lives in general. Therefore being broke is one of the worst things that could happen to you and whilst sometimes it is inevitable, there could be reasons why you run out of money just a week or two after pay day.

A black man holding a piggy bank. Image from

Being too generous with money

It is end month and that money you have waited for all month finally checks in and you are more than excited. You call up a couple of your friends and probably relatives for a cuppa or your favourite drink at your favourite local. You are out to ‘reward’ yourself so you foot all the bills. These people you take out know you have money so if they borrow some, you freely lend them. Money has a way of attracting the attention of your friends and relatives. With money, you will not struggle to form an easy camaraderie with people generally. Being too generous with what you have may end up hurting you financially.

Planning for money you do not have

I have bought a Samsung S6 Edge, a curved HD TV, beautiful white dresses for her among other things before. In my mind. By the time I actually got the money, I used it all such that there was none left to sustain me. I know I am not the only one. Many people make this mistake of prior spending without even being sure whether and when they will get this money. It is advisable to plan/budget for money that you already have or are sure to have soon.

Non-saving culture

Having a job that guarantees you of a constant flow of income every other month may deceive you into believing that you will never be broke. You spend a huge chunk of your income as soon as it checks in leaving you vulnerable on the ‘rainy days’. It goes without saying that if you earn, whatever amount, you have to commit a certain percentage of that amount to savings. There’s no such thing as a perfect time or perfect amount to save. Saving should start as soon as you earn. This will cushion you from being broke.

Having a single stream of income

You are employed at a reputable firm. You earn a decent salary. You have everything going for you. You find it unnecessary to start a business or invest in any venture as your salary can comfortably take care of all your needs. One day you wake up and snap!! You are no longer receiving a salary for whatever reason (think receivership, retrenchment or being fired). This is a very unfortunate situation to find yourself in. The American investment magnate, Warren Buffet, says that wealthy people rarely have a single stream of income. The so-called hustles are ideal to complement your salary. With such, you will not be dependent solely on the monthly salary.

Having a proper plan on how you are going to use your money will save you from the heartache of going broke sometimes in the middle of the month. Check out this article on how to do a personal financial check to start you off.

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I am an upcoming creative writer and pencil artist who has passion for anything art. I like travelling and meeting new people. I am currently pursuing commerce, finance major at the university of Nairobi. Through my writing, I hope to impact in the lives of people. I run my blog at