By LaToya Irby
Article from TheBalance.com

No one wants to be broke. It’s stressful, uncomfortable, and counterproductive to achieving your financial goals. While there may be some things outside of your control, like whether your boss is willing to give you a raise, there are some things you can control.
You can unknowingly prolong your financial lull by continuing to make bad financial decisions, i.e. spending money when you should instead be cutting back your spending.
You may try to justify certain purchases, rationalizing that you “need” it or that life will be too uncomfortable without it. But, more often than not, you’ll be just fine without those extra purchases. Things you shouldn’t do when your broke include:

·      Take out a loan for a new car, or for any other reason.

·      Go on an expensive vacation.

·      Loan money to someone else, or cosign for them.

·      Spend money on non-necessities.

·      Eat at restaurants.

·      Have cable television.

·      Go partying with friends.

·      Pay more than the minimum on credit cards.

·      Move to a more expensive apartment.

·      Ignore bills and bank statements.

·      Overdraft your checking account.

·      Pay bills late.

·      Pretend that you have more money than you do.

·      Quit your job without having another one lined up.

·      Lie to your spouse about the money.

·      Spend your savings or emergency fund on things that aren’t emergencies.

·      Waste electricity or water.

·      Take on new, recurring expenses.

·      Drive places unnecessarily.

·      Go on expensive dates.

·      Pay for subscription services.

·      Pay to get your car washed, your house cleaned, or your grass cut.

·      Rule out part-time work.

·      Buy expensive gifts – or any gift.

·      Make frequent hair, nail, or spa appointments.

·      Grab coffee from anywhere other than your kitchen or the break room at work.

·      Buy new electronic devices.

·      Buy cigarettes everyday.

·      Lease a more expensive vehicle.

·      Buy an outfit you’ll only wear once.

·      Buy concessions at the movies.

·      Taking up a new expensive hobby, unless maybe you can make money from it.

·      Gamble.

·      Pay your adult child’s bills.

·      Spend money on clothes, shoes, purses, accessories, etc. that you don’t need.

·      Buy new books, especially when the library is free and many libraries have ebooks available for checking out and reading on your favorite tablet or ereader.

Think your financial situation is going to fix itself. Your money isn’t going to change itself. You can make the situation better by cutting your expenses and looking for ways to increase your income.

Stick to your old spending habits. Your old spending habits helped contribute to your current financial state. You’ll have to change them if you want to improve your finances. Seriously consider how you’ve been spending and make changes so you don’t have to be broke forever.

To read the full article, go online to https://www.thebalance.com/financial-mistakes-when-broke-960663.