hey everyone this is bulla I'm the founder and CEO of clarabelle finance and welcome to clever or finance TV so do you find yourself feeling like you are always broke well in this video I'm gonna go over some key tips to help you stop that feeling and get out of that space where you feel like you were always broke if you haven't already gotten a copy of the clever financial roadmap stay tuned until the end of this video and I'll be telling you just how you can get your hands on your very own copy the
clever ball finance roadmap is a step-by-step guide to help you as you work on improving your finances and will guide you through six key components to create your own financial plan so let's get into this video so everyone has their big dreams and their big goals or other things that they want to accomplish they have goals and dreams of becoming financially successful for the truth is that most people wound and this is because many times people are acting in ways that are counterintuitive to them becoming financially successful they're doing things that they should not be
doing that are not helping them achieve their financial success and as a result they find themselves in this space where they always feel broke and there are instances where people are broke for good reason they may have been experiencing financial setbacks or even health setbacks that caused them to be in this temporary space of feeling broke however for a lot of people they find themselves feeling broke because for one reason or the other their money just happens to slip through their fingers every time they get paid and they can't really explain why and so if
you're in that space where every time you get paid before your next paycheck you just can't figure out where your money is going then this video is for you when it comes to building wealth it's all about planning consistency establishing the habits the self-discipline and also creating those good money management skills and so I'm going to be sharing some key tips to help you get out of that space where you find yourself always broke so the first thing you want to do is adjust your mindset you have to get your head in the game and
if you have watched this channel for a while or listen to the clever girls know podcast this is something that I say all the time the foundational piece of doing anything major with their finances improving your finances starts with your mindset you have to get into that space where you are committed to the journey and so it's finding things to inspire you and motivate you you can start saying affirmations you can start meditating reading books listening to podcasts watching videos like this one but you have to get into that space where you have adjusted your
mindset that you can actually accomplish what you want to do stop telling yourself I'm always broke and that's what it's meant to be and instead start asking yourself why am I always broke and what can I do differently adjusting your mindset is the first step to helping you make this major change the next thing you want to do is work on your self-discipline and when it comes to self-discipline I think one key motivator to help you you know as you work on this self-discipline is to establish a why is to have an intent a reason
for why you want to end this feeling to break the cycle so what is your why what is that thing that compels you to want to improve your finances what is that thing that you want bad enough that money can help you attain and as you think about your why it's not about what the rest of the world wants for you it's about what you want for yourself what is that big dream that you have what is that goal that you have that will truly make you happy and get that why and put it in
front of your face and let that be your motivation as you work on your self-discipline and as you start to think about yourself discipline you also want to think about ways that you can make it easy for yourself to stay disciplined so let's say driving by the mall is a major distraction for you because every time you drive by or 75 percent of the time you drive by the mall you have to stop and window shop and then when you window shop right 50 percent of the time or another 75 percent of the time you
end up buying something then maybe the alternative hair is to take a different route to work or from work where you don't even have the mall on your path and that way you're not tempted to stop so when you think about yourself discipline how can you make it easy for yourself to achieve the goal you have set for yourself does it mean leaving your credit at home does it mean not hanging out with certain people start thinking about ways write down a list of the things that you can do to make it easier for yourself
to become more self disciplined and tie that into your why let your wide be your motivator let it be the thing that inspires you to want to to work on your self-discipline and get better another tip to help you stop that feeling of always being broke is to stop borrowing for everything if big mistake people make is using their credit card for every single expense and telling themselves you know what I'll pay this at the end of the month but they haven't really built those expenses into their budget they're just spending money on credit because
it's convenient and it's easy and because they're doing it in small increments it seems like it's just going to be really easy to pay at end of the month and when people get that bill at the end of the month what they find is that they've spent much more than they can afford or they can even pay in full and you know this is really this is an easy trap to fall into because when you're making the transaction to your credit cards a lot of times you think they're just small amounts but they actually add
up and so that essentially is you know by using your credit card for your transactions without having a plan to pay for them in full at the end of the month is essentially you barring it's you borrowing time rates and that time comes at a cost and that cost is interest that's compounded on that balance and so make up your mind that you're going to stop borrowing for everything and instead you're gonna go back to the earlier points I made where you're going to plan out your expenses in your budget including your fun money that's
okay it's okay to go to the dinners it's okay to spend time with your friends hanging out but you want to make sure that you accommodate all those things all that spending and your budget and you do it in a way that you can afford it it's a really really key tip here to help you stop feeling broke is to stop spending money that you don't have stop borrowing on credit for every single thing another key tip to help you is to make sure that you have a plan where you're prioritizing paying off your debt
the quicker you can pay off your debt especially that high interest that that's costing you a ton of money as a result of interest being compounded the quicker you can pay off that debt the sooner you can free up money to put towards your savings your emergency fund your long and short term goals and other things and this will help minimize that feeling of always being broke when you're putting so much money towards debt a lot of times you can feel really tight you can feel like there's no room for anything else and as a
result you feel like you're broke all the time and so if you make it a focal point of viewers to put as much money as you can towards your debt especially that high interest that that's costing you the most amount of money then the sooner you get rid of that debt the sooner you free up more money to put towards your savings and your other goals another key thing that you want to do is to stop putting off savings until you earn more money this is another really big mistake that so many people make they
tell themselves well I'm not making enough money to save so I'm just gonna wait until I get another job until I get a raise until I graduate until I move to a new city until I get married before I save this is a big mistake when it comes to saving it's really important to establish the habit and the consistency over time in those early stages of building wealth it's less about the amount and more about the action habit and consistency I have a video on this channel that I did a while back where I talked
about when I was ramping up on saving money I actually drove all the way to my bank to deposit a single dollar and for me it was not about the amount it was about me trying to stay consistent with the habit of saving frequently every time I got paid and so to stop putting off your savings even if you can only save a dollar five dollars ten dollars whenever you get paid you want to build that consistency so that once you start making a lot more money it becomes second nature for you to save and
you're able to wrap up your savings organically without having to overthink it there are so many people who make tons of money and have zero savings because they haven't built up the habit and consistency to actually save another thing you want to do to help stop feeling so broke is to start investing if your employer offers a retirement plan that has a match take advantage of it if there's an opportunity to contribute to your importance plan even if there is no match you can also still take advantage of it you can open your own investment
accounts and make sure you check out the investment series that I recently did on this channel if you're thinking about how to invest and what it all means but investing is one way that you can start to bulk up your portfolio right and start to have money in the bank so when you think about feeling broke you think about the fact that you don't have any money it's a lack experience for lack of better words and so essentially the whole idea is that you want to have less debt and more money in the back and
more money in investment so that even if you don't have a lot of money in your daily checking account you know that you have money in other places and that overwhelming feeling of being broke is minimized another key thing is to stop competing with other people so many people are in debt because they're buying things that they cannot afford to impress people who don't really care and the truth is the people they are trying to impress they don't really care so many people are buying stuff to post on Instagram to share with strangers who don't
even know them who don't care once they swipe past that photo you'll be competing with friends or even family but the truth is when they lay their head down in their bed at night they may think about you for a couple seconds but they're really focused on their own problems and so that's what you should be doing you should be focusing on your own goals are the things that you want to accomplish you cannot care what people are gonna think about you in this space of you trying to get your finances in order and you
definitely don't want to go broke or find yourself in tons of debt trying to compete with or impress people who don't really care at all and then finally you need to stop being scared I think a lot of people get into this space where it's like I have no money I have all this debt I feel like I'm always broke and they sort of accept it they hate the idea of always being broke of not any money but they get comfortable with it and they accept it and they just stay in this space where all
they do is complain about what they don't have and what they can't do and they don't take any action and a lot of times people do this because they are they are scared they don't want to step out of their comfort zone but in order for you to shed that feeling of always being broken order for you to bulk up your accounts pay off your debt achieve financial wellness you're gonna have to do some things that are uncomfortable you know there's gonna be things that you're going to have to do like getting a second job
or like sacrificing in certain areas or doing things that people may even laugh at you for doing you know becoming more frugal but you're going to have to do those things if you really want to accomplish your goals I know that for me personally when I'm trying to take on something big a big challenge right a lot of times fear will creep up and tell me you can't do this well who are you to think you can do this thing and if you get in that space where you find yourself being afraid it's okay understand
that with everything new with any big challenge fear is always going to be there but it doesn't have to overwhelm you and you can ask it to be quiet and you're you can trust the next step that you're going to take so I encourage you not to be scared right find ways to motivate yourself find your why adjust your mindset and get in that space where regardless of fear you still take the actions necessary to improve your finances and get out of that space where you were always broke so I hope you guys enjoyed watching
this video and you have ideas in place and actions you're going to take to help you end that cycle of being broke all the time especially if you're in that space where you feel like your money is just slipping through your fingers for no reason and as I mentioned at the beginning of the video I'd love for you to head over to clever well-financed comm and get access to our clever ball financial roadmap it is an awesome resource to help you work through creating your own financial plans and it's gonna guide you through the six
components that we have put together to help you establish a solid financial plan including all the different things I mentioned all the key tips I mentioned in this video and finally if you haven't already followed us on instagram head on over to act clever go finance on Instagram and check out our community there we have a ton of fun engaging and talking through money tips and money stories thank you guys so much for watching and I will talk to you in the next video
