How to Stop Being Broke in 2021:- In this article you learn the various ways how you can stop and avoid being broke.
No one sets out to be broke. Bad investment, poor money making skill, poor saving habits; these are some reasons you’ll often revert to broke status.
Being broke is not having a reliable source of income. Being broke is living paycheck to paycheck with no savings intact. Being broke is being in debt up to your eyeballs.
If you’re sick and tired of being broke, it’s time to take control of your finances! Whether you need to work on your spending habits, learn how to save, or find ways to earn more money, you can find a way to stop being broke.
So today, i will share with you 9 things you should do to stop being broke this year.
How To Stop Being Broke in 2021 – 9 Important Things You Must Do To Stop Being Broke
1. Learn to live within your means
Spending above what you earn will only leave a trail of debt behind you. If you’re spending beyond your means because you need to keep up with your friends or show others that you can afford a certain lifestyle, you’re not doing yourself any good.
In one word, i will say be “Prudent in spending”.
Stop worrying about what others can afford and think about how you can live within your means. Put your credit or debit card away. They make it easy to spend money you don’t need to spend.
Change your attitude on consumer goods. Stop reading fashion, home style, and consumer technology magazines and watching flashy TV shows.
They only feed your vain desires. Learn to live below your means. That way you’ll have something left at the end of each month.
2. Develop a skill
You are often broke either because you don’t earn enough or because you spend more than you earn. There are three money skills you need to develop; money making, money keeping and money growing skills.
You can’t keep or grow money you don’t have. So the most important thing to do to stop being broke is to develop your money making skills. And what other way than to have skills people are willing to pay for.
People don’t usually have money problem. What they often have is skill problem. If you have skills people are looking for, they will pay money to get it.
So if you want to stop being broke, start developing a new skill. If you love to write, develop your writing skill. If you love logical reasoning, you can try your hand in coding.
If you love art, learn design, video production, graphic, photography. There are many skills you can develop. Just go and get more self education.
3. If you already have a skill, make good use of it
If you already have a marketable skill and are still broke, it is either your skill is not good enough for people to pay for it or your marketing skill need some work or tweaking.
IF you have skill of developing website/blog, i will advise you provide quality services to clients, by doing so, your work will be spread across their friends and up you will go.
Take advantage of digital media to reach more prospects. If you are selling a product or service, try online advertising. Learn social media and content marketing. And use this skill to promote what you do.
4. Only lend money you can afford to lose
Leave a comment below if you have had a bad experience lending money to someone close to you. You end up losing your money or even hurting a friendship. I’m sure a lot of you can relate to this.
It’s okay to lend a helping hand to someone in need. But that should be when you can afford to. If you are still struggling to find your feet financially, lending money you cannot afford to lose leaves you at the mercy of the borrower. To be on safer side, only lend money you can afford to let go in the worse case.
5. Use the 50/30/20 rule
Senator Elizabeth Warren popularized the so-called ’50/20/30 budget rule’ in her book, All Your Worth: The Ultimate Lifetime Money Plan.
The idea behind this rule for budgeting is that 50% of your net income should go toward “needs”, 30% should go toward “wants”, and the remaining 20% should go into savings. “Needs” would include things like groceries, prescription medications, rent, and insurance. Some examples of “wants” are Netflix, cable, and manicures.
You may not necessarily hit the exact numbers but work towards splitting your earnings around that percentage.
To make this more effective, strive to pay yourself first. Set aside your 20 percent saving before any other spending. Once you’ve exhausted fund for the month, let every unimportant thing wait till next month.
6. Stop buying on impulse – Stop Being Broke
Instant gratification is getting you into trouble time and time again. There are many ways to spend money but fewer ways to make them.
An important step to getting your finances in order is to tell your money where to go instead of wondering where it went.
A budget puts you back in the driver’s seat so you’re no longer at the mercy of impulse spending. If your potential purchase isn’t in the budget, slow down and back away.
Remember that making minor sacrifices now will pay off in the long run. Know what your end goal is, and then go after it!
If you always have a plan for what you will buy, you will have a much easier time managing your finances. If you have a hard time controlling your purchases when you go to the mall, try to avoid going to the mall at all.
Your urge to buy unnecessary items will likely wear off after several days or sometime a few hours. Instead plan for every big spending. Save towards it. And make the decision thoughtfully.
7. Avoid debts as much as possible
It’s easy to buy things on credit or ask for a loan but they always come back to haunt you when your earnings arrive.
Sometimes accumulated debts could halve your income even before you take a dime out. So avoid debts as much as possible and only take loans when there is no other way around a financial situation.
8. Stay Away from Get-Rich-Quick Schemes
Many people have lost a lot of money in get-rich-quick schemes that come as high yield investment programs.
They make you believe you have to take risk to put your money to work for you. But in the end, it ends up making a few people rich and the rest broke.
Investing is a great way to grow your money. But, we aren’t all experts in investing. In fact it’s easier for most people to make money than to invest it profitably. But if done right, investing can lead to unexpected wealth.
There is calculated risk and there is dumb risk. The best investors only invest in what they know and understand. That is taking calculated risk.
They don’t invest with emotions. They rely on market analysis and projections among other information. You too can start grooming your investing skill in a field of interest.
Remember, this rule always apply; if it is too good to be true, then it’s most likely too good to be true. You are better off saving your money than losing it in a get rich quick scheme.
9. Let go off friends that encourage negative habits will help you stop being broke
It’s been said that “you are the product of the five people you spend most of your time with”. Make a list of your friends and put them into two categories: toxic and non-toxic.
You’ll learn that some of the people you hang out with are not worth spending your time with anymore.
Maybe every time you hang out with them, you come home feeling emotionally drained or you’re forced to drink against your wish.
Perhaps all your friends do is spend money on frivolous things, and now you find yourself doing the same things. Free yourself from those friends.
If you are always around people who spend money carelessly, their habits are likely to rub off on you. Try spending time with more frugal people.
In conclusion, the habit you develop with money when you earn a little will translate into when you start earning more.
If you spend on impulse with a little, you will not change automatically when you start earning more. If you don’t plan your spending with a little, the same habit will accompany you with earning more.
Start now to develop you financial intelligence. Develop and brush up your skills to increase your ability to earn.
Your future self will be proud of you. What money habits will you be developing in the new year? Tell us about it in the comment’s section.
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Goi Peace Foundation International Essay Contest 2021 for Young People
Goi Peace Foundation International Essay Contest 2021:- The Goi Peace Foundation is now accepting entries from young people anywhere in the world for its 2021 Essay Contest.
About Goi Peace Foundation International Essay Contest 2021
This annual essay contest is organized in an effort to harness the energy, creativity and initiative of the world’s youth in promoting a culture of peace and sustainable development.
It also aims to inspire society to learn from the young minds and to think about how each of us can make a difference in the world.
This program is an activity within the framework of UNESCO’s Education for Sustainable Development: Towards achieving the SDGs (ESD for 2030)\
Goi Peace Foundation International Essay Contest Theme
“What is Life?”
What does life mean to you? Have you had an experience that made you think about the meaning of life? What kinds of things can you do to cherish and invigorate your own life and all life on earth?
Goi Peace Foundation International Essay Contest Eligibility
- Essays may be submitted by anyone up to 25 years old (as of June 15, 2021) in one of the following age categories:
- Children (ages up to 14)
- Youth (ages 15 – 25)
- Essays must be 700 words or less in English or French, or 1600 characters or less in Japanese. Essays must be typed, with your name and essay title included at the top of the first page.
- There are no particular rules regarding formatting (font style, size, line space, etc.). However, essays must be submitted in either MS Word (DOC/DOCX) or PDF format.
- Teachers and youth directors may submit a collection of essays from their class or group by creating an ‘account for school/organization entrant’ on the online registration page.
- Essays must be original and unpublished. Plagiarized entries will be rejected.
- Essays must be written by one person. Co-authored essays are not accepted.
- Copyright of the essays entered will be assigned to the organizer.
Goi Peace Foundation International Essay Contest Prizes
The following awards will be given in the Children’s category and Youth category respectively:
- 1st Prize: Certificate, prize of 100,000 Yen (approx. US$900 as of March 2021) and gift for 1 entrant.
- 2nd Prize: Certificate, prize of 50,000 Yen (approx. US$450 as of March 2021) and gift for 3 entrants.
- 3rd Prize: Certificate and gift for 5 entrants.
- Honorable Mention: Certificate and gift for 25 entrants.
- 1st to 3rd prize winners will be invited to the Winners Gathering to be held online.
- Additional awards (Best School Award, School Incentive Award) will be given if applicable.
- All prize winners will be announced on October 31, 2021 (Japan time) on this website. Certificates and gifts will be mailed to the winners in December 2021.
You may also apply for the African Union Continental Essay Competition
How to Submit Entries for Goi Peace Foundation International Essay Contest:
Entries must be submitted online. To send your essay online, you must go to the online registration page, and follow the required steps. Entries submitted by postal mail or e-mail are not accepted.
Entries must be received by June 15, 2021 (23:59 your local time).
For More Information Visit the Official Essay Contest Webpage Here.
Chinese Government Scholarship – Bilateral Program
Chinese Government Scholarship – Bilateral Program 2021/2022 for International Students (Undergraduate, Masters, PhD) is a full or partial scholarship established by Chinese Ministry of Education in accordance with educational exchange agreements or consensus between Chinese government and governments of other countries, institutions, universities or international organizations.
About the Chinese Government Scholarship – Bilateral Program:
The Bilateral Program supports undergraduate students, graduate students, general scholars and senior scholars. Undergraduate scholarship recipients must register for Chinese-taught credit courses.
Graduate and non-degree scholarship students can register for either the Chinese-taught program or the English-taught program if applicable.
- Applicants must be a citizen of a country other than the People’s Republic of China, and be in good health.
The requirements for applicants’ degree and age are that applicants must:
- be a high school graduate under the age of 25 when applying for the undergraduate programs;
- be a bachelor’s degree holder under the age of 35 when applying for the master’s programs;
- be a master’s degree holder under the age of 40 when applying for the doctoral programs;
- be under the age of 45 and have a high school diploma (or higher) when applying for the general scholar programs;
- be a master’s degree holder or an associate professor (or above) under the age of 50 when applying for the senior scholar programs.
Value of Bilateral Program Award:
The Bilateral Program provides both full scholarships and partial scholarships.
Duration of Program:
- Undergraduate students: 4-7years
- Master’s students: 2-5 years
- Doctoral students: 3-6 years
- General scholars: up to 2 years
- Senior scholars: up to 2 years
How to Apply for the Bilateral Program:
- Step 1 – Apply to the dispatching authorities for overseas study of your home country for CGS opportunity;
- Step 2 – Apply to your target university for the Pre-admission Letter once recommended by the dispatching authorities as an eligible candidate (you will receive an Award Letter for CGS Candidate);
- Step 3 – Complete the online application procedure at CGS Information Management System for International Students (Visit http://www.csc.edu.cn/studyinchina or http://www.campuschina.org and click “Application Online” to log in), submit online the completed Application Form for Chinese Government Scholarship, and print a hard copy. You should consult the dispatching authorities for overseas study of your home country for Instructions of CGS Information Management System for International Students and Agency Number;
- Step 4 – Submit all of your application documents to the dispatching authorities of your home country before the deadline.
15th April 2021
finduddannelse.dk Sustainability Scholarship
Sustainability Scholarship by finduddannelse.dk, a Danish platform for lifelong learning, is offering a Sustainability Scholarship to students from around the world who have applied (or will apply) for a Masters program that can help them make the world more sustainable. The Masters program in sustainability could be taught in any language, and in any part of the world.
The scholarship will be awarded for the fall/autumn semester of 2021.
Level/Field(s) of study:
Masters degree in sustainability
International students from around the world
finduddannelse.dk Sustainability Scholarship value/inclusions:
The scholarship award is up to €5000 to help cover tuition fees.
Applicants can be of any nationality, from any country, and they can undertake their Masters program study anywhere in the world. But it is important that you can argue why you have chosen your university and country when applying for this scholarship.
To be eligible, you must be applying for, or have applied for, an on campus Masters program in Sustainability, for studies commencing Fall Semester 2021 and must meet the entry requirements for the university or graduate school, including holding a valid undergraduate degree and meeting the language requirements for the program. Where applicable, you should also be eligible to obtain a relevant study visa for that program. Online degrees are not eligible.
Ideally, you should be an individual who is committed to taking action. Someone who is ideal would be for instance, one who is planning on starting a Masters degree that can help alleviate the impact of the climate change. You should be someone:
• With a global mindset, and interested in combating climate change – whether it be within clean energy, biology, architecture, economics, business, health, agriculture, law, political science, journalism, anthropology or any other relevant field.
• Motivated and inspired to positively change the world and
• Who is a high academic achiever with the grades to prove it
• Involved in sustainable initiatives and projects (volunteering work, job etc.) and
• Who is excited to take responsibility and determined effect change.
To be considered, you must submit your completed application by 12 April 2021. Applications must be submitted in English or Danish. In the application, you have to submit a short essay (500-700 words) on the following questions:
• What motivated you to choose this particular study program?
• How is your program going to help you fight/alleviate the impact of the climate change?
• Overall, how do you think education and the fight against climate change are connected?
It is important to visit the official website (link found below) for detailed information on how to apply for this scholarship.
For More Information Visit the Official Scholarship Webpage Here
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