Written by a Friend of Mine:
See the millionaire might have good ideas that you should know of. But he may never have seen the dark side of debt and poverty. No amount of money could get him the perspective I have.
That’s why I am here. I am a man who wants to give you personal finance advice based on what I’ve been through. And the best way to do it as I’ve found is to make it personal. So here goes:
Tip #1: Your money is your own. Use it wisely
As a broke person, budgeting money becomes an essential art. I’m not exaggerating. You have to take how much your earn, spend it where you need to and make cuts where you must. The cutting part is essential: it’s as if you are “sculpting”your financial life. You have to stop yourself at every turn, asking yourself if it’s worth it. ‘
My personal weakness is video games. If there’s any new game on the market, I feel a strong urge to buy or pre-order it. I have to play the game on the day it comes out! But I know I can’t. The “smart voice” inside me knows that if I buy $60 games, I’m going to hit the financial red line. So I wait. In a few months, video game prices fall: $30, $20, $10. That’s when I move in to buy. And that’s how you budget money.
Tip #2: Don’t give up on what keeps you sane
We are all human. We all have desires that, when fulfilled, keep us sane. For me, it is video games. For you, it might be spending time with family. Being broke should not hold you back from doing the things you love and keep you sane. Believe it or not, that’s how rich guys stay happy and multiply their wealth! So you do what it takes and fight to do the things you value. Then go out there with a fresh mind and fix your finances!
Having said that, don’t take up “expensive activities.” Maybe gambling floats your boat and makes you alive. But if you’re a broke guy, that’s exactly the kind of thing you should be avoiding. Always keep Tip#1 in the back of your head. There’s a reason why it’s at the top!
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