How to Walk Out on Poverty

Change your bad money habits

Most of our money problems come from various bad financial moves we keep on making out of habit, laziness or just not knowing better.

Unsubscribe from shopping sites, stop reading magazines that make you buy

If you don’t get ANY news about a new sale, chances are you won’t know or care about it. Too many times we forget to de-clutter our inboxes, which means we waste time with reading all this junk and it also makes us want to buy, triggering something that’s called ‘Fear of Missing Out‘. If you know you won’t resist temptation, cut the connection with such magazines, newsletters and the likes.

Stop using your savings for whims

Understand the difference between wants and needs.

No, you don’t need a new TV set, as long as your current ones still works. You do need shelter and food, maybe medication.

It’s OK to deplete your savings for a real medical emergency, it’s not such a great idea to do so to purchase that new iPhone you crave for.

Give up expensive (and unhealthy) habits

Do you smoke? Congratulations. You’re slowly killing yourself (and those near you), while also wasting thousands of dollars each year with something that brings absolutely no value to your lifestyle.

Same with video-games (if you are paying for premium items). While you’re wasting a lot of valuable hours, that could be used to earn a side income, get better educated or just spend time with your dear ones, you’re also forking your hard-earned money for useless virtual crap.

Stop lending money to others

Yes, you want to be a great friend and help those in need. But this can (and usually does) backfire. You’ll either need to wait for months/years to get your money back or even never get it back.

Happened to me few times and I’m not willing to do it again.

Be charitable, but with a limit

There are people who are giving A LOT of money to charities, while still struggling to make ends meet.

Don’t get me wrong.

I’m all for giving back to society, helping someone in need etc. It’s noble to think farther than your own needs.

But don’t spend a lot of money on charity, when you are broke. Use more money to get out of your financial problems and then you can increase your donations.