This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
8 Lessons
Some of the comments and advice I’ve received from people who had a poor financial status include:
Buy a new car.
Buy a house; you’re wasting money renting.
Travel and stay at the best places.
Take out personal loans to fund your lifestyle.
Take out a PPP or Biz Loan. Don’t miss this opportunity.
Treat yourself.
Get the LATEST Phone. You have to stay up to date.
You only live once; buy it!
Go out more.
Why do you work so much?
Here’s what I’d do if I were you…
You should spend more of your money and live.
Why do you always wear the same clothes?
You shouldn’t take advice from broke people unless you want to emulate them. If you want to emulate their financial status, then, by all means, go for it. But you can still learn from people with poor financial status.
8 Lessons From Broke People
Broke person = Someone financially struggling and/or with a limited financial mindset.
People struggling with personal finance offer you a gift and opportunity to learn what to do with your money and what not to do with it. Here are the eight lessons:
Lesson 1
Broke people are broke because of their own choices. They can change their financial status at any point, but many never believe they can because they believe they are powerless over their finances and tend to blame others and circumstances for their financial outcomes.
Lesson 2
Broke people tend to live above their means and are always looking for their next paycheck. They focus on the short term instead of the long term. They rarely consider the need to live below their means, save, and invest to build wealth for themselves now and in the future.
Lesson 3
Broke people rarely prioritize consistent saving and investing; if they do save and invest, they’re more likely to withdraw or use it for something unnecessary.
Lesson 4
Broke people focus on attaining liabilities over assets. Assets make you money and increase your net worth. Liabilities detract money and decrease your net worth.
Lesson 5
Broke people don’t prioritize financial education. They don’t acquire new information to better their situations, which is why their financial situation stagnates or worsens.
Lesson 6
Broke people tend to hope and dream of a better life without taking any action that will positively transform their lives. They are often looking for a handout instead of creating wealth for themselves.
Lesson 7
Broke people believe living a good and fulfilling life is having the ability to buy more things. They focus on “shiny objects,” which is why they don’t have much money in the first place. They care more about their appearances than their bank accounts.
Lesson 8
Broke people prefer spending over saving and investing. They’re short-term oriented.
10 Pieces Of Advice Broke People Give
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.