Why am I broke???

The excuse is universal as to why we lack a decent savings account, “we just don’t have the money”.  In some cases this excuse is legitimate.  The individual may be laid off, have large medical expenses and other reasons that can be financially devastating. In most instances it is not whether or not they have the money, but instead it’s what they are doing with it. If it is a real challenge for you to fill your car with gas for the week, then maybe you don’t need that $4.75 Starbuck coffee every morning. Skipping the coffee alone would save $23.75 per week, or $95.00 per month, that would help with some gas money, or take that same $95.00 per month and start a 529 college savings account for your child. Imagine your son or daughter having $33,000 to start college…Wow! This is one of those much LARGER goals!  That’s what your coffee money could become over 18 years at a conservative earning of 6%.

             The thought of waiting for your big break, a large raise at work, or to stumble onto a pile of money is wishful thinking. Nothing is going to change unless you make a change. There are not too many people that would say their salary is where they want it to be. The misconception lies at the source, your money. It’s not that you don’t make enough money, it’s making smarter decisions with the money you have. 

It starts with the most difficult part of the entire process, taking a look in the mirror.