Being broke isn’t just about living from hand to mouth. It’s about the pressure that comes when the rent is due,when you don’t have enough to get things you need. Being broke feels heavy. And if you’re reading this, maybe you know that feeling too well. But here’s the good news: Being broke is a condition, not your destiny. Millions have been where you are, and millions have made it out. Not by winning the lottery. Not by some miracle.

But by changing their habits, their mindset, and their strategy.

If you’re tired of living paycheck to paycheck, borrowing money just to survive, feeling stuck with no way forward. This article will give you real, practical tools to break free from being broke. We’ll walk through 5 proven ways to stop being broke and start making your own money, no matter how little you have right now.

1.Stop living from paycheck to paycheck

Living from paycheck to paycheck isn’t really the problem. It is how you live from paycheck to paycheck that is the problem. Living paycheck to paycheck is a serious problem, when saving money isn’t guaranteed. When expenses rise, there’ll be no time to think of savings, no planning or budgeting. You just spend to survive. If you’re living from paycheck to paycheck, and have nothing to show for it, it’s very bad.

Here’s how to spend less if you’re a salary earner

1.Track your expenses

Discover how your money flies everytime. Once you receive your pay, put out a list and write out everything you buy, so you can be aware of how your money gets spent.

2. Create a working budget

Try your best to budget everything you need for the month. Now remember, it is everything you need, and not everything you want. Budget the needful things and be careful while spending.

3. Have self discipline when spending

Don’t spend because you see the money now, because later, you will regret it. Learn to say no to some certain things you don’t need and save the money.

Once you do this, you’ll discover that you’ll have a little change all to yourself. And you can either save that or invest.

2. Start Earning More — Even Without a Degree

The raw truth is that, you can’t budget your way out of being broke if your income is too low. At some point, you have to earn more. And here’s some gist for you! You don’t need a college degree to increase your income today.

Ways to Start Earning More

1. Side Hustles

You can start online jobs like;

– Freelance writing

– Virtual assisting

– Tutoring online

– Graphic design

– Social media management

– Selling products on Etsy or Instagram

You don’t need to be perfect. You just need to start.

2. Work smart, not just hard

If you already have a job,you can work overtime, or you could negotiate a raise. How about even offering to take on new tasks for bonuses?

Sometimes the opportunity to earn more is sitting right where you are, you just have to ask or stretch a little.

3. Managing Money Wisely

Making more money solves nothing if you don’t know how to manage it. This is where broke people stay broke, even when their income rises. You need to learn to manage your money wisely.

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How to Manage Money Like the Wealthy

1.Have automatic savings

Set up automatic savings. The moment you receive your pay or an alert, even if its ₦5,000 or $10 a week, save. Consistency beats the amount in the beginning. Don’t worry about withdrawal. Once it’s time to withdraw, you can.

2. Create an Emergency Fund (Goal: 3–6 months Expenses)

This protects you from life’s surprises like, job loss, sickness, car repairs, etc. Start small. You can start with ₦100,000 or $500 at first. Then to ₦500,000 or $2,000.

Then three months’ living expenses.

3. Have a strict budget

Plan how your money comes in and goes out. Be disciplined in spending. Work with your budget, when you have more than enough, you can lavish your money how you want to.

4. Learn to Invest Even Small Amounts

Saving alone won’t make you rich, but investing can! Even if you feel broke today, you can start investing tiny amounts till you can bring forth the big guns. The fun thing about investing is that, no matter how small you invest, you’ll will get returns that are worth it.

How Broke People Can Start Investing

1.Start Small

Start at your own pace. Try apps like:

– Acorns

– Robinhood

– Bamboo (Nigeria)

– Chaka (Nigeria)

That can let you invest with as little as $5 or ₦2,000.

2. Invest in Stocks and ETFs

Instead of guessing which stock will blow up, start with ETFs (Exchange-Traded Funds). They automatically invest your money across dozens or hundreds of companies.

3. Real Estate

You can:

– Buy REITs (Real Estate Investment Trusts) for $10 or ₦5,000.

– Save towards owning rental properties.

You have to start somewhere, so that’s in the future, you will thank you.

5. Build a New Money Mindset

You need to reset your mindset about money. Because even if you earn more, save more, and invest more, you will sabotage yourself if you believe you’re destined to be broke. Have a mindset that’s focused on thinking positively. Because thinking negatively will only affect your mind, which could make you more than broke. It could make you, POOR.

How to Reset Your Money Mindset

1.Don’t have a negative mindset about money

– “Money is not evil. Money is a tool for good. Rich people are not bad. There is enough wealth for everyone. You won’t remain broke forever. You can create abundance.

2. Read books that will help you shape your mindset of making money

Books like:

Rich Dad Poor Dad by Robert Kiyosaki

The Richest Man in Babylon by George Clason

The Psychology of Money by Morgan Housel

3. Follow wealthy people on social media

Social media is full of wealthy people who teach how to make money for free. Follow those who inspire people to make wealth, not just those with flashy lifestyle.

If you feel broke today, you’re not alone. There are a lot of people who were broke before, and are rich now. So you’re not hopeless, and you are not powerless. Every single action you take defines who you are. It’s time to make the best out of your time, and the best out of your life. Use this article as a guide to shape your life.

Broke No More: 5 Real Ways to Escape Being Broke and Build Lasting Wealth

1.Stop living from paycheck to paycheck