Many Americans end up broke month after month.

• One third of households earning $75,000 or more a year — live paycheck to paycheck.
• The average indebted household credit card debt is $15,863.
• 73 percent of Americans have less than $1,000 in their savings account.

Even with income above the poverty line, overspending leaves many financially poor.

Here are twelve ways to always be broke, with a typical response:

1. Put Today's Happiness before Future Financial Needs

Just be happy today, there is always Social Security.

2. Not Making Savings a Priority

I’ll get around to saving soon.

3. Not Knowing Where Your Money Is Going

Where does my money go? “I haven’t a clue.”

4. Not Separating Wants from Needs

If I want it, I must need it.

5. Investing In Stuff- Instead of Yourself

Invest in myself, what do you mean?

6. Trying to Get Rich Quick

Just give me a way to get rich, and Quick!

7. Not Sticking to a Budget

I tried a budget once, it didn’t work.

8. Buying Depreciating Assets

But, cars, boats, and the latest electronics are much more fun.

9. Being Unwilling to Sacrifice

The future, it’s a long way off.

10. Trying to Have It All

I work hard, I deserve it and now.

11. Spending More Money Than You Make

Oh, I’ll just charge it to my credit card.

12. Avoid Earning More

If I earn more, taxes will take it all.
(This is simply untrue. Taxes take a percentage, let’s say 25%. Wouldn’t it be better to have 75% of a dollar instead of none of it?)

Questions to ask yourself before spending, to help avoid being financially poor

• Why do I want it?
• Is it actually needed today?
• Can I honestly afford it?
• If I spend now, what happens to me later?