Financial Planning

How to Cope with being Broke

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"How to Cope with being Broke"
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Can you be broke and still be happy? Yes, it is possible. Get your head together and pinch, pinch, pinch. Don't count the peas on everyones plate just pay more attention to what you are doing. The thought of being broke leads to panic in most, although it isn't as bad as it may seem.

That is as long as we merely mean broke and not at rock bottom trying to claw your way out without any help.

People associate being broke with a number of things. The inability to pay the bills, buy the basic needs to survive and going without mostly. This is usually a struggle to keep up.

Some people even associate being broke with not being able to spend a months worth of rent on a handbag. Spending a months worth of rent on a handbag is not the best idea anyway.

The struggle to pay the bills and put food on the table at the same time is more common than anyone would like to think. Millions live paycheck to paycheck, while they have a roof over their heads there is the constant worry over losing that roof.

Saving is something they can't figure out how to do because it seems that there is never anything left to save. Cutting back each and every week is common for a lot of people.

Clipping coupons and sitting in the dark isn't the only way to cope with being broke. Prioritize. Bills and basic needs come first.

Sit down and figure out how much money you have coming into the home every month. Now figure up all of the bills, include gas and groceries as a bill.

Rent, Mortgage payment, lights and phone are basic bills. Cable, internet and credit cards are extras. It is possible to live without extras. If you absolutely have to have these extras include them in the bills list.

Make a list to go to the grocery store with. Sticking to the list will be easier if you take the time to check and find out what you truly need before leaving the house. Hiding money here and there when you're under budget will end up surprising yourself with "extra" every now and then.

Being broke while not just a state of mind and affects your state of mind. Feeling sorry for yourself won't help you cope with being broke. Adjust to it and find that it is possible to survive even if you can't afford the runway fashions from famous designers.

Don't worry about what everyone else is buying and spending. Learn to be happy with what you have.

More about this author: Laurie Childree

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