Now that You are Broke…
If you are broke, it doesn’t necessarily mean something is wrong with you. It could be a phase of your life or a reflection of your failure to do what you should. Whatever may have put you in this condition, I have some thoughts to share with you on managing this phase of yours and exiting it on MoneyHub this week.
Being broke may be a phase in your life or it may even be a reflection of your failure to do certain things you should have done to have enough resources to meet your needs and be of material blessing to others. It’s a phase if you are, at the age in life where you can’t work because you are young, is being trained or are busy sowing the seeds for abundance by investing in business and knowledge. Whatever may be responsible for your being broke, just understand that your focus should be on surviving and exiting into abundance. I am not saying that you can’t consider how you got there because it can help you in exiting the phase. My point is that the most important thing is to survive and grow into abundance.
The reality of your lean pocket is that you won’t have what you need, let alone meet other people’s need. If you don’t manage it, you live dependent on other people who love and care for you. As a child, being dependent is understandable. However, when you grow to certain age in life, you should just learn to work or hustle to survive and help others survive.It’s not primarily about age; it’s about the phase in life where you have finished your education or acquired certain training that empowers you to create value for others.
Dependence is not Cool
Often we think it’s cool to depend on our parents and those that love us; but that’s not always wonderful. There is dignity in labour and life is designed that at a certain stage in life, you shouldn’t be taken care of but should take care of others. You should help those coming after you and those that have not been given the privileged and opportunities that God has given you.
Even when loved ones choose to take care of you when you have come of age tobe productively engaged, work to earn and take care of yourself, please decline it. Parents generally think its love for their children and shielding them from what they suffered to deny their children the privilege of fully growing up on time. But I don’t think so! As much as they love and show their love in that sense, I dare say that it’s limiting to enjoy the comfort of caring parents, relations and friends instead of growing up to exit your broke phase.
I understand that it’s not going to be easy; but I know you will grow up faster that way once you have decided that you will not steal but work to earn and add value to the lives of other people. Hunger will propel you to generate ideas and push you to persist even when the odds are stacked against you. If you have God by your side, know that God will come through with help before something goes wrong badly.
Survive & Exit from being Broke
Please don’t think you can move away from being broke by default, you have to make effort and take deliberate steps towards it to be able to survive and eventually exit the phase. It’s a matter of life principle that things don’t just change on their own; a force has to act on it to cause it to change. In the same way, you will remain in your state of broke and acute pocketisis unless you activate certain principles to attract wealth around you.
One of the wisdom that will help you survive your phase of lean pocket is to ensure you don’t drain yourself by spending more that you earn or borrow more than you have the capacity to pay back. There is a saying that he that is in the pit don’t dig deeper. When you are broke, you may need to borrow to survive than to die insisting that you cannot borrow. However, your borrowing should be for survival and growing into abundance. It should never be to meet up to societal stupid expectations. It should not be motivated by the craving to show off. It should not be more than you have the capacity to pay back in the nearest future.
In your phase of lean pocket, you should spend based on priority. There are always many things to do; but you should isolate the ones that are important and urgent and attend to them. Now that you are broke, you cannot meet all your needs. You cannot also do all that your heart desire. That’s why you should make your expenditure based on priority. Find out what is important and start with it. Many things are good; but when you are broke, they should wait because they can actually wait!
It’s equally important that now that you are broke, you make your expenditure to meet a need and not to impress anybody. The truth of life is that many of the people you want to impress don’t give a damn about you. My opinion is that it’s huge foolishness to spend more that you can comfortably afford or on what you need just to make impression on people that you are who you are not. Why would you do that? If they think you to be who you are not, of what benefit is it to you? Wisdom is to be who you are and let anyone that should know about it know it. If someone doesn’t like you because you are broke, he or she should get out of your life! I am not saying that being broke is something to glory in; but please it’s not something to be ashamed of that you now live a lie to cover up your true state. If you are serious minded and God is not against you, you won’t be broke forever! So, why live a lie to cover it up?
Now that you are broke, you should budget for your spending and by all means don’t exceed it. Spend within your budget and don’t fall for the temptation to buy by impulse or fall for the powerful presentation of a super salesman. Budgeting helps you think through your income within a period, outline the unavoidable expenditure and plan how to spend so that your income can sustain you. Please settle down and do this so that you don’t go deeper in debt if you are already in debt. Also do it if you are broke so that you not only survive but eventually manage your income into abundance.
It’s not enough to survive your phase of learn pocket; make effort to exit the phase and walk into abundance. Look inward to uncover something you can do for people for a fee, create a product, sell already made one and do anything legal to create value for people in exchange for a pay.I have observed that as long as you have something of value to offer people, they will make you another valuable offer which is usually money. Appraise yourself to find out what you can do for another person, no matter what it is. You are not too big to do any job provided is not crime or prostitution. Hustle, get a job, serve someone and do all that you can to deliver value for people in exchange for money. You will be happy you did in the long run.
Being broke is not necessarily a curse. It could be a phase in life. If it’s a phase, hold on and be consistent in what you know is right to do. If it’s because you failed to do something you should, please repent. Be wiser in your spending until you not only have enough for yourself but can share millions to those in need.
PS: What you have just read is an abridged version of our book, Now that You Are Broke which will soon be published. Watch this space for update on the release.