Im tired of being broke what can I do

By Izzy M
Modified on April 26, 2023
I'm tired of being broke what can I do

Being broke all the time can be incredibly stressful. If you live paycheck to paycheck, you can’t properly enjoy life or make future plans. It’s easy to think your life may never change for the better, but you can learn how to take back control of your finances! Two critical aspects of personal finance include saving and making money. 

Keep reading below to learn how to increase your income and make your money grow if you’re tired of being broke!

How To Get More Money to Break Free From Debt

If you’re tired of being broke, you can look for ways to obtain extra money. The easiest way to stop struggling financially is to increase your cash flow. There are multiple ways to improve your financial success. You just have to consider what you’re willing to do. 

Get a Side Hustle

If you don’t have enough money left over once you pay your bills, you can try working a second job. One of the best ways to achieve financial success is to increase the amount of income you earn. 

Babysit Children

If you have younger siblings or enjoy spending time with children, you can get more money by babysitting! You can look for work through an online platform such as Sittercity or advertise your services on social media. You can choose your pay rate and the age group you are comfortable babysitting. You may even be able to earn extra cash in tips. 

Freelance Online

There are various skills you can monetize online through freelancing platforms such as Upwork. Companies are always searching for writers, editors, website designers, social media managers, and other professionals to complete tasks. You can search for projects by project length, pay rate, and skill level. 

Walk Dogs

Sign up to be a dog walker if you have a dog or simply enjoy spending time with four-legged animals. Many pet owners work in an office and cannot provide the necessary exercise a dog requires, so they hire dog walkers. You can sign up to be a dog walker through an online service such as Rover or advertise your availability on social media. In addition to making good money on your own schedule, you could earn extra money in tips. 

Model for Art Classes

Many art classes require models to pose for projects. You would stand or sit as directed by a coordinator while artists draw, sculpt, paint, or photograph you. While there are requests for nude models, you don’t have to worry about modesty because most art model jobs do not require nudity. Suppose you are willing to stay locked in a pose for extended periods. In that case, you can earn a decent paycheck for necessary expenses. 

Sell Your Plasma

If you have ever donated blood, you should consider donating your plasma. Plasma is an essential component of blood that contains 7% vital proteins and 92% water. Patients with traumatic injuries, autoimmune deficiencies, and certain diseases require plasma for treatment. The donation process can take about one hour and fifteen minutes. Still, eligible donors can make as much as one thousand dollars! 

Tutor Students 

Children may have to go to school, but many require help with their studies. Suppose you have retained knowledge of certain subjects, or stay updated on the modern curriculum. In that case, you may qualify to be a tutor. There is a need for tutors of all educational levels: elementary school, high school, and at the collegiate level. You can find online tutoring jobs or promote your services to students and parents using bulletin boards.

Drive for a Ride-sharing Service

Consider driving for a rideshare app to make extra money whenever you have some free time. You can set your own hours, earn tips, and choose which trips to accept. There are a few different rideshare companies for you to choose from. Some people even drive for multiple companies. 

Sell What You Don’t Need

Selling items you don’t need can help you clear up space in your house and get spending money. You could earn enough money for the month without getting a new job by selling clothes, shoes, accessories, and electronics. 

Sell Your Gently Used Clothing 

If you are tired of being broke, go through your closet and make a pile of clothes you no longer wear. If you have fashionable items in decent condition, you can try selling them online through eBay, Poshmark, or Depop. The interested buyer can even pay for shipping, so setting up a competitive market price is all you have to worry about. You can buy a brand new outfit with the cash you earn!

Sell Your Designer Handbags and Shoes

Many people search for gently used designer handbags and shoes online. If you have luxury brands, you may be able to get enough cash to cover this month’s housing expenses by auctioning them. To prove the quality of your items, take close-up images of the stitching, tags, hardware, and lining. You can sell your handbags and shoes online or at resale shops. 

Sell Your Electronics and Accessories

There are plenty of electronics you can sell for cash if you’re tired of living paycheck to paycheck. Certain items are more desirable than others. Most people sell laptops, tablets, cameras, gaming consoles, and video games. If you decide to sell through an online platform such as eBay, you can set a selling price or list your item for auction. Auctions allow shoppers to bid on your item for several days. 

Sell Your Furniture

If you are moving and no longer require certain furniture pieces, you can stop being broke by selling them. Furniture is an expensive purchase, and buyers may still pay a good amount of money for secondhand furniture. You can sell your furniture online by listing it for sale on a classified advertisements website such as Craigslist. Or, if you have time, you can hold a garage sale on the weekend. 

Ask For a Raise

If you are tired of being broke and feel comfortable doing so, you can ask your employer for a raise. Even if you make a decent income, you may be able to earn more. The moment you experience one of these situations, you should feel confident in your decision to ask for a raise:

  • You complete a year of work
  • Your company states a substantial earning period
  • You made a significant achievement
  • You nailed a performance review
  • You successfully took on more responsibility

These situations are all great opportunities to ask for a higher income at your place of employment. Keep in mind that you may not receive a raise when you ask for it. However, you can take advantage of a meeting by asking your manager if you are on track to earn a higher paycheck in the future. By showing initiative and hard work, you may be able to secure higher positions at the company in the future. 

How To Save Money if You’re Broke

An essential aspect of personal finance is saving your money. If you are tired of being broke, learning how to budget can help you save money for the future. Saving money can give you financial freedom and help you meet financial goals. 

Cut Monthly Bills

If you don’t want to be broke anymore, learn how to drastically cut expenses to save your sanity. The paycheck to paycheck cycle can be broken by decreasing the number of bills you have to pay each month. You can use that extra income to start building wealth through investments. 

Make a list of your monthly bills and consider cutting a few. For example, your streaming services. While ads can be annoying, you can easily cut expenses by switching to free streaming services instead of paying for premium subscriptions. You can simply buy a TV antenna to enjoy free televised entertainment. Another example could be a service like a gym membership. If you have a gym membership, consider how often you go and if the services are worth the cost. You may be paying a lot of money for a well-equipped gym when you only use the treadmill. You can find cheaper fitness options at smaller gyms. Cutting expenses like these can potentially help you save up to $1,000 in 30 days

Minimize Monthly Bills

If you can’t cut a lot of monthly bills, take the necessary steps to minimize them. If your lease is almost up, consider lowering your housing expenses. Financial advisors recommend not spending more than 30% of your income on housing. 

Electricity bills account for 12% of the average household budget. You can improve your financial life by simply taking steps to conserve more energy. Here are a few tips on how to lower your energy bill:

  • Unplug electronics when not in use
  • Consider handwashing instead of running the dishwasher
  • Switch to energy-efficient light bulbs
  • Keep the thermostat at a low temperature
  • Turn off the lights when not in use

You can request adjustments to save more money if you have home or car insurance. You can stop being broke by talking to an insurance agent about your safe driving record. You may even be able to find a cheaper insurance package with a different company, so don’t hesitate to shop around.  

Consolidate Your Debt 

Consider debt consolidation if you want more money to spend throughout the month. Improve your financial situation by merging multiple bills into a singular payment. If you have a lot of credit card debt, you may spend a lot of money on interest fees. When you use low-interest online quick cash loans to pay off your high-interest credit cards, you can stay focused on one affordable monthly bill. 

Debt consolidation may also make it easier to avoid paying unnecessary fees. It can be challenging to keep track of multiple due dates every month. If you lose track of your bills, you may end up having to pay late fees, dishonored payment fees, and Nsf fees.  

Start a Budget Plan 

Saving money can help you reach your financial goals and stop being broke. By establishing a budget plan, you can start working towards being debt-free. Sticking to a budget method can help you learn how to stop overspending and save more money. Instant gratification from spending your hard-earned income is short-lived. Still, you can learn how to curb impulsive spending habits by budgeting. 

These are a few popular and effective budgeting methods to pay off debt faster:

Debt Snowball Method

The debt snowball method helps you focus on paying off debts quickly. You make minimum payments on most of your debts but pay additional money toward your smallest debt. 

If your smallest debt is your store credit card balance, you should first focus on paying that debt off. This budgeting method improves your financial situation by helping you reduce the number of bills you have to pay. Tackling smaller debts first can help you stay motivated.

Debt Avalanche Method

The Debt avalanche method is the kind of the opposite of the debt snowball plan. Instead of paying off your smallest debt first, you focus on the debt with the highest interest rate. Pay as much as you can toward your high-interest debt and make the minimum payment for all additional debts. 

High-interest rate loans can limit the amount of money you have available to spend because the fees are expensive. If you have less money than you should every month, it’s hard to build wealth. Low-rate loans have smaller fees, so you can go ahead and ignore them while you focus on paying off the loan with the highest rate. 

50/30/20 Method

The 50/30/20 rule helps you budget money on a low income to save big. This budgeting method can quickly help you stop being broke, but you need to be strict with your income. Every month, you have a limited amount of money to spend. Take a look: 

  • 50% for — Half of your income should be used on necessary expenses. This financial category includes housing, gas, groceries, daycare, car payments, etc. 
  • 30% — About 30% of your income should be spent on desirable expenses. This category includes spending money on entertainment, takeout, clothes, and anything that makes your life fun. 
  • 20% — The last 20% of your income should be put into a savings account. Every month, putting aside money can help you stop being broke and slowly build wealth. 

The 50/30/20 budget method requires a complete overview of your income and expenses. Calculate how much money you receive monthly after taxes to know how much you can spend on expenses. Then make a list of your monthly bills and consider how you can keep expenses low.

The benefit of this budgeting method is that you can customize it to fit your financial needs. Suppose your necessary expenses require 60% of your monthly income, and you want to prioritize starting an emergency fund. In that case, you can spend 10% on desirable expenses and keep putting away 20% of your money into a savings account. 


The Importance Of Plasma In Blood
When to Ask for a Raise
12 Easy Ways to Cut Your Expenses
Debt Avalanche or Debt Snowball Calculator

Read More
Several types of lenders specialize in easy loan approval for bad credit borrowers. These loans may not require a credit check or may have loose…
personal loans 700 credit score
A good rate for your personal loan will depend on your specific financial situation. While you may be eligible for several different types of personal…
2000 loan for bad credit
You can borrow up to $2,000 from personal loan options, some payday loans, title lenders, or possibly a pawnshop lender. Some of these loan options…
loans like uprova
Uprova is an online lender that offers installment loans. Many low-credit borrowers apply with Uprova online, but is this the right choice for you?  Are you…

Quick And Easy Personal Loans Up To $2500*