The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
  • Building Wealth
  • Investing
  • Credit Scores
  • Student Loans
  • Paying for College
  • Saving Money
  • Real Estate
  • Credit Card Debt
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
No Result
View All Result
The Money Coach
No Result
View All Result

5 Money Tricks to Stop Feeling Broke

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Personal Finance
Reading Time: 3 mins read
money tricks
9
SHARES
154
VIEWS
Share on FacebookShare on Twitter

There are lots of reasons why you might feel broke or like you’re living paycheck to paycheck.

Maybe you eat out way too often, spend too much on clothes, or perhaps you live in a high-cost area where housing is outrageously expensive (I’m looking at you: San Francisco and New York City).

Regardless of the reasons your money is so tight, there are some quick and easy ways to fix some of your money problems.

Here are 5 money tricks you can use to stop feeling so broke.

  1. Use windfalls wisely

A windfall is any extra lump sum of money that comes your way. A Powerball jackpot would be nice, but let’s be realistic.

I’m talking about more common “windfalls” like a bonus from work, an insurance settlement, a divorce payout, an inheritance, or even your yearly income tax refund. Using those windfalls wisely – by paying off debt or building up your emergency savings – can help you avoid being constantly broke.

  1. Give yourself an instant raise

Speaking of income tax refunds, the IRS says the average tax refund is about $3,000. The good news is: you don’t have to wait every year to get your money back from Uncle Sam. Get that cash now simply by adjusting your W-4 withholdings at work.

Here’s what to do: just increase the number of allowances you’re claiming. That will decrease the amount of taxes being taken from your paycheck.

If you do get a $3,000 refund, adjusting your withholdings will add around $250 per month to your paycheck. Instead of overpaying your taxes, you’re giving yourself an instant ‘raise’ – which can make you feel a lot less broke.

  1. Start a side hustle

Small business owners and freelancers are increasingly driving the American economy. If you feel broke because your current job isn’t paying enough, or maybe because you don’t even have a job, start a side hustle or an entrepreneurial gig.

It can be anything: writing/editing, building websites, tutoring, or maybe selling hand-made art. Wherever you have skills, put them to use, especially by turning hobbies into cash.

  1. Take advantage of freebies

Instead of focusing on all the things you can’t do because your pockets are empty, re-direct your thoughts and activities to all the free resources and freebies around you.

Go to local parks, visit museums and zoos on their free days, or simply organize game nights where you sit around playing board games or just talking with friends.

  1. Stay off social media

The average adult in America spends about two hours a day on social networking sites like Facebook, Twitter and Instagram. That’s one of the worst possible things you can do when you’re feeling broke.

Obsessing online about what other people have done or bought, or where they’ve traveled, is only going to make you feel jealous — or perhaps even tempted to spend money trying to “keep up with the Joneses.” Not a good idea.

Also, most people’s activity on social media is for pure entertainment, socializing online or just mindless browsing. All that time wasted could be better spent on more productive things – like figuring out creative ways to make or save money.

So do yourself a favor and stay off social media, or at least drastically cut down on it. The exception: do build up your LinkedIn profile – and feel free to use that platform or others for job-hunting, networking and business related activities.

Follow these five money tricks and tips and you won’t feel so broke all the time.

Tags: Windfalls
Previous Post

HotelsByDay.com Offers Affordable, Nice Rooms for the Day

Next Post

4 Options to Refinance Student Loans and Save Money

Related Articles

A Student’s Guide To Filing Taxes
Personal Finance

Breaking Down the ‘Penalties’ of Single Tax Filings

by Lynnette Khalfani-Cox, The Money Coach
tax refund
Personal Finance

Making the Most of Your Tax Refund

by Lynnette Khalfani-Cox, The Money Coach
Here’s How to Handle Stock Market Volatility
Personal Finance

How to Manage Your Finances with Inflation on the Rise

by Lynnette Khalfani-Cox, The Money Coach
AskTheMoneyCoach
Personal Finance

The Split-Second Shopping Decision That Could Save You Hundreds of Dollars

by Lynnette Khalfani-Cox, The Money Coach
Financial Advice on TikTok
Personal Finance

NEWS DIGEST: Breaking Down TikTok Finance Myths on Good Day New York

by Lynnette Khalfani-Cox, The Money Coach
Financial New Year's Resolutions
Personal Finance

Why Your New Year’s Resolution Should Start on Thanksgiving Day

by Lynnette Khalfani-Cox, The Money Coach
Lynnette Khalfani-Cox
Personal Finance

The Long View: Lynnette Khalfani-Cox: ‘There’s a Huge Wealth Gap in America’ Podcast

by Lynnette Khalfani-Cox, The Money Coach
Lynnette Khalfani-Cox
Building Wealth

Start Building Wealth in 2021

by Lynnette Khalfani-Cox, The Money Coach
Black tax
Building Wealth

Here’s what the “Black tax” does to so many families (Vox)

by Lynnette Khalfani-Cox, The Money Coach
Next Post
refinance student loans

4 Options to Refinance Student Loans and Save Money

About

Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.

Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.

Quick Links

  • Money Coach University
  • Lynnette's Personal Site
  • The Money Coach Corporate Site
  • Video Portfolio
  • Privacy Policy

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2022 TheMoneyCoach.net, LLC. All Rights Reserved.

No Result
View All Result
  • Meet Lynnette
  • Money Coach University™
  • Books
  • Financial Coaching
  • Speaking
  • The Money Coach Recommends™
  • Media Kit
  • Contact

©2009-2021 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist