Im tired of being broke what can I do

I'm tired of being broke what can I do

You may be able to get out of a financial hole by increasing your income, following a financial plan, and cutting down on expenses. 

Many people live paycheck to paycheck, so don’t feel like you’re alone. In fact, 1 in 3 adults have trouble covering basic expenses.1 Keep reading 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! 

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 online or through a garage sale. 

Household ItemAverage Selling Price (USD)Notes
Clothing$5 – $60Brand, condition, and fashion trends can affect prices. Designer items tend to fetch more.
Electronics (e.g., old smartphones, laptops)$20 – $300Functionality, model, and brand influence the selling price.
Furniture$10 – $200Condition, material, and size are significant factors. Antique items may be valued higher.
Books$1 – $30Rare, first editions, or textbooks can sell for more.
Kitchen Appliances$10 – $150Small appliances like toasters or blenders sell at the lower end, while refrigerators and ovens are at the higher end. Condition and brand matter.
Sports Equipment$5 – $100Items in good condition, especially popular or high-end brands, sell for more.
Jewelry$5 – $2,000Material (gold, silver, etc.), brand, and craftsmanship significantly affect the price.

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. 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 1000 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 hand washing 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 a debt consolidation loan if you want more money to spend throughout the month. Improve your current 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 finances 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% — 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. 

Frequently Asked Questions About Living Paycheck to Paycheck 

What are the first steps I should take if I’m tired of being broke and want to change my financial situation?

The first step in changing your current situation is acknowledging that you need a change. Start by reviewing your personal finances in detail, understanding where your money goes each month, and identifying any bad spending habits. Setting a realistic budget that accounts for all your expenses and potential savings can be a game-changer. Don’t forget to set aside a small portion of your income for emergencies.

How can I improve my financial literacy to avoid living paycheck to paycheck?

Improving financial literacy is a lifelong journey, but it’s worth every step. Start by educating yourself on basic personal finance concepts, such as budgeting, debt management, and savings. There are plenty of free online resources, workshops, and even local community classes that can help. Remember, the more you know, the better decisions you’ll make regarding your finances.

I’m struggling with multiple debts and living paycheck to paycheck. How can I manage these effectively?

Juggling multiple debts can be overwhelming, but there are strategies to manage this. Consider approaches like debt consolidation or contacting your lenders to negotiate terms or request hardship assistance. It’s important not to ignore your debts; instead, be proactive in seeking solutions and possibly professional advice to navigate your financial situation.

Can improving my credit score help with my financial situation, especially if I’m tired of being broke?

Absolutely, a higher credit score can significantly impact your financial situation. It can lead to lower interest rates on loans and credit cards, which means you’ll pay less over time. To improve your credit score, ensure you pay your bills on time, try to lower your credit card balances, and avoid taking on more debt than you can handle.

How can I make a realistic budget when my income is inconsistent, and I’m living paycheck to paycheck?

Budgeting with an inconsistent income can be challenging but not impossible. Start by calculating your average monthly income over the last six months to a year and use this figure for your planning. Prioritize your essential expenses first, and if your income allows, contribute to a savings account regularly to help cushion months where your income might fall short.

What are some common mistakes people make with their personal finances that keep them from breaking out of the “tired of being broke” cycle?

Common mistakes often include not having a budget, making impulsive purchases, accumulating unnecessary debt, and lacking an emergency fund. Many people also delay seeking financial advice until they’re in a severe crisis. Awareness and proactive management of these areas can help in breaking the cycle of financial stress.

How important is it to have an emergency fund, and how can I build one if I’m living paycheck to paycheck?

An emergency fund is crucial as it provides a financial safety net for unexpected expenses, helping you avoid debt. Start small by setting aside a manageable amount from each paycheck, even if it’s minimal. Cut back on non-essential expenses where possible, and any windfalls such as tax returns or bonuses should go straight into this fund. Remember, every little bit counts towards securing your financial future. 

A Word From CreditNinja on Being Broke

Being broke does not have to continue negatively affecting your life. With hardwork and determination, it’s possible to change your financial situation for the better. But if you ever need a quick emergency loan, CreditNinja is here to help! While there are always many lenders out there, like coffee break loans, OppLoans, CreditNinja, and more, it’s important to make sure you find the right one for you.

We offer flexible personal installment loans with competitive rates. A personal loan can help tide you over in the event of an unforeseen bill or expense. We consider more than your credit score when determining approval, so you do not necessarily need a perfect credit score to be eligible.

If you’re looking for direct deposit loans, apply online today to see if you qualify for fast cash! 


  1. Paycheck-To-Paycheck Nation │ NPR
  2. The Importance Of Plasma In Blood │ Red Cross
  3. When to Ask for a Raise  │  Monster
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