There are times in everyone's life when we find ourselves in deep Financial crisis,

These days for some is the reason they took strategic decisions that changed their financial history for good,

As for some, this is the beginning of a journey into abject poverty,

We all get to confront the same challenge now and then but in the end our decisions is what determines whether or not we would break free eventually,

In this article we would outline five things to do to help your navigation away from financial bondage

FIVE THINGS TO DO WHEN YOU ARE BROKE

1. FIND OUT WHY YOU ARE BROKE

As simple as this may sound there are two reasons why people often face financial difficulties,

Two people who work in the same firm, and receive the same salary can live differently, obviously one will always live better than the other, 

And painfully one will always have something to fall on while the other tends to always be stranded a week or two after payday,

In this case the problem is not the income,

Obviously the second man has an issue with spending,

We must sit down to find out if the reason why we are broke is a an income issue or a spending issue.

Income issue

This is a situation where you are stuck in a cross road where there is little or no income coming in,

If you find out this is the cause, then you will need to strategically make decisions to create streams of income 

I will provide an article stressing on streams of income 

This is one of the major cause for financial crisis.

Spending issues

The problem with this issue is that there is sufficient flow of income, but there is an issue of mis-management 

Most times your budget is higher than the finance at hand, and trust me this could be very frustrating,

It is worse than not having anything at all.

2. RE-EVALUATE YOUR BUDGET

Like it or not there are things we need, these things are the essential needs for human survival like food, cloth, and shelter.

There are other things we want, these things appeal to our appetite and are not necessary,

When making your budget, focus on what you really need and cut out as much unnecessary things as you can,

Don't try to stick to things because that's how you have been doing it,

Choose simple meals, simple wears that are not too expensive,

Remember this is not a time to prove any point,

When you reevaluate these things, you will increase your savings, 

Then you will always have something to fall back to during emergencies,

And even become debt free.

3. SEEK OUT EVERY MEANS TO INCREASE YOUR INCOME

 One of the major stair ways to financial freedom is to create several means of income,

You after you might have increased your savings, remember that those savings can become a seed that will yeild hundred folds when planted on the right place under the right atmosphere,

Create streams of income,

Find a side hustle that would not necessarily be demanding but will yield profit,

Invest wisely and let your money work for you,

Do in depth research on ways to grow your finance and how to make good financial decisions

A little here and a little there amounts to plenty.

4. AVOID LOANs WITH HUGE INTERESTS

There are times in our lives when we all need to borrow once in a while to be able to cater for certain emergencies,

However it is very important to avoid unnecessary interests on every loans we are going for 

Because they will end up draining you and stopping you from going forward 

If you must borrow, then avoid interests.

5. PRACTICE CONTENTMENT 

This issue of lack of contentment is the foundation for spending recklessly,

There will always be many things you wish you had but these things are not really necessary.

You see a man who earns $500,000 monthly buys a car worth $400,000 and boom! You also want to measure up to that class,

Yet your Earning is less than $5000 monthly you will spend all the time you were supposed to build your earning saving up to buy that car and maintaining it will drain you the more,

So focus on increasing your earning rather than lusting for things above your league.

This way your earning will be inline with your spending,

Tadaa you won't be broke ever again.