by Vida G

Created on: July 31, 2008

Dealing with Being Broke:

Being broke is a state of mind. Yes one could say, "I am broke". Or one could say, "I am learning to be resourceful". The United States is capitalist nation and with it come that have and the have-nots, however, the American Dream is that the have-not's can have.

Living abroad is a disturbing eye-opener when one considers that our homeless people have many resources available like government sponsored medical care, homeless shelters, and food banks. For people trying to better themselves and their situation there are many non-profits and other resources like low-rent programs, the Salvation Army, etc. Other countries won't even help their homeless minors.

That being said, one should adopt an insatiable need to want more out of life, than a complacent, "Oh well, I'm broke, what-am-I- supposed-to-do-about-it attitude."

A plan:

Develop a basic plan. It could be as vague as "get a job". Nevertheless, it will be a step in the right direction. Other ideas for your plan could include: Get out of debt, generate more income, create a savings safety net fund, etc.

A good place to start is to find out what kind of aide you are eligible for in your state, for instance, you may not qualify for monetary aide, but you may qualify for discounted health insurance.

Find the supplementary income: save by walking to work, or get a second job. (I'm sure you've thought of this).

Apply the income: When you've managed to create revenue or save in a certain area of your life, apply it to a bill. Say for instance you are paying off a TV ($20), a Student Loan ($100), and a couch ($50). Pay off the smallest bill/or the one with highest interest first. It's a bill of $20 plus the extra $10 you found you can save if you don't buy candy at work. That's $30 on a bill that you will pay off faster and save on interest. When you are done, apply the $30 you would have paid on the TV, and put it towards your couch which is a bill of $50. Added with $30 you were paying on the TV (but now it's paid off) you have $80 to apply on your couch. You see how it works? It's called debt stacking.

What if you're so broke you can't even afford the luxury of those pesky types of bills?

I've been there. Get a second job. Go to school online or work online. Move in to a place with cheaper rent. You have to find a career that will make you more money. Going to school on line is great because it allows for flexibility. Yes, maybe you will go to sleep at 2 am and wake up six thirty, however you may find solace in the fact that all hard working people who want to go places have done it. You won't have much of a social life. But when you've met all your goals, and you have a full career, you will be very glad you did.

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