You are just broke!
That pithy one liner is from our friend Gail Vaz-Oxlade‘s TV show ’til Debt Do Us Part, and I really do like it.
Many times I hear from folks how poor they are, and how hard their lives are, then I talk to them and realize that their net income is nearly twice my annual income, yet they are having a hard time making ends meet? Say what?
If you can barely afford to live in your rent controlled home, take the bus everywhere, and work 2 jobs to make ends meet, my guess is that you are Poor, you have no place left to cut spending on, because all you have left is the essentials of life. Poor is tough, and if you are in this situation you have my sympathies, and my hope that things get better for you.
If you feel poor because you can’t:
- Afford a second car, and one of you must take the bus
- Can’t go out to dinner as much as you want
- Live pay cheque to pay cheque without lowering your debt, because you live in a house that has made you house poor
- Feel hard done by because you can’t buy designer hand bags
Let me be clear: You are not POOR, you are BROKE!!!!
The thing is that Poor is hard, Broke is fixable with lifestyle changes. Poor you have little or no control of your situation, however, Broke you can control things (you just choose not to).
If you are Broke, you can be fixed by simply spending less and altering your lifestyle to take lower spending into consideration.
- If you can pay off your debts faster if you take the bus to work, and sell your car, why don’t you?
- If you have 10 credit cards, and wonder why you have such a hard time paying them off, why not get rid of 9 (if not 10) of them?
- If you complain that your only vacation is a visit to your parents cottage, and you really wanted to go south in the winter, why do you wonder why I might laugh out loud and threaten you with bodily harm?
If you have just figured out you are Broke, don’t be discouraged, be happy (in an obtuse way), it’s fixable! If you are Poor, keep working hard and try to get control of things (and if you do get out from under, remember how life was so you don’t end up Broke).