If you can’t cover a month of lost income in an emergency, you’re financially fragile. Many people can’t cover a $400 emergency, let alone a full month. Are you broke? The number one thing I do is teach people how to increase their revenue. You need more cash flow. The truth is there are just different levels of broke. How broke are you?
Grab a sheet of paper and take this broke test and see how you do:
(Add 1 point for every answer that is true of you.)
You know you’re broke when you….
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You look forward to a refund from the IRS
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You don’t write off your car, meals, and computer from your taxes
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Your vacations are planned on Groupon
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You live paycheck to paycheck
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You clip coupons
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You can only fly coach
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You grab on sale items even if you don’t need them
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You only partially fill your gas tank
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You visit garage/yard sales
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You can only afford to ride the city bus
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You mow your own lawn
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You believe the government can fix your problems
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You change your own oil
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You think rich people are evil
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You think money is evil
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You only buy healthy food occasionally due to cost
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You never invest in yourself
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You don’t even know how much is in your bank account
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You go to pawn shops
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You make your own coffee rather than “splurging” at Starbucks
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You earn less than $100K a year
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You eat fast food
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You carry loose change around
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You argue over money with your spouse
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You feel like giving $20 to charity is making a difference