15 Simple Habits of People Who Are Never Broke

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Take back control of your finances by developing one or more of these simple and effective habits of people who are never broke.

15 Habits of People Who Are Never Broke

Tired of not having any money? It’s a common misconception that you have to be rich to be financially secure. But that is simply not true.

Managing money is a skill that can be learned and honed over time. Many financially stable people are not born into wealth. They simply know how to make their money work harder and go further for them.

So get inspired to wrangle your finances under control, and start developing one or more of these fifteen simple but effective habits people who are never broke all work on.

1. They set a weekly or monthly budget

At a high-level, money management is straightforward. If you spend more than you make, you’ll always be struggling for money.

People who are never broke start with a budget. They write down their essential outgoings, such as rent and bills, then set a budget that covers both essential and casual spending that does not exceed their income.

2. They stick to their budget no matter what

People who manage money well are strict with their budget. They don’t let some impulse purchases slide and promise to do better next week or month.

They stick to their budget, no matter how difficult it is in the beginning. This helps build a healthy habit of spending control and knowing how to manage money.

3. They track both their income and expenses, no matter how small

While a bag of chips here and a couple of beers there may not feel like much money, those little expenses can add up over the course of weeks and months.

Those who are never broke track every incoming payment, no matter how small. They use apps, spreadsheets, or tracking printables to make sure every cent is accounted for.

4. They live within their financial means

People who are never broke are realistic. They understand how much money they make and what that means for their lifestyle.

These people avoid taking out large leases on cars or larger mortgages for bigger houses, and they shop at places that are affordable to them.

5. They learn how to cook simple meals

We all need to eat every day. And although our busy lives make takeaway food far more appealing, its cost quickly adds up.

Even if it’s once or twice a week, people who manage money learn how to cook even simple recipes. That way, they can also save money on food, with a little effort and planning every week.

6. They always have an emergency fund

From medical bills to car repairs, we can’t avoid paying out significant sums of money sometimes in life.

But if those unforeseen costs come out of our day-to-day living expenses, we can quickly be plunged into debt or struggle to keep our heads above water.

Those who manage money well put aside a little of their income every month to an emergency fund, no matter what. That way, they can always cover high, unbudgeted costs that arise out of the blue.

7. They don’t impulse buy and practice spending control

For many of us, shopping is a means of therapy. Buying shiny new tech or glamorous clothes can help relieve stress and make us feel good.

However, people who are never broke learn how to control their impulses. They find other means to relieve stress, such as exercise or gaming.

8. They actively look for deals and discounts

People who look after their money know that little savings here and there, over time, add up.

They will constantly keep an eye out for deals and discounts on their regular spending, such as food and clothes shopping.

And they will document their savings so that they can visibly see a monetary value they have saved, and then they set that amount aside for savings or investing.

9. They don’t buy things they don’t need

Not living a life trying to impress and create an impression of wealth to total strangers massively helps you save money.

People who are never broke find a balance between practical and value for money when it comes to buying anything. Plus, they tend to buy needs, rather than wants.

10. They don’t buy designer brands

Designer brands are incredibly expensive because you are buying into a lifestyle and vision rather than an actual product.

People with a handle on their money stick to affordable brands. They realize that you can still dress smartly and look and feel great on a budget.

11. They spend some free time building multiple revenue streams

While there is nothing wrong with spending your free time playing sports or watching TV shows, it is highly likely that someone who is not broke has more than one income.

They use their free time to start side hustles and little businesses. It could be selling crafts in an Etsy shop or doing freelance writing alongside their regular job.

By building up multiple revenue streams, you not only make more money, you take the stress off your main job or regular work being your only source of income.

12. They educate themselves about money

Managing money is a skill that can be learned over time. Just like riding a bike or learning a language, people who are never broke treat money management as a hobby.

They educate themselves about how money and economics work by reading books or watching educational, personal finance videos. And they keep a constant eye on the news, the stock market, and trends.

13. They invest a little money every month

While people who manage money well don’t set out to become stock traders, they often invest a little money every month in stocks, shares, and other investments.

They make 10, 20, or 30-year plans and grow their portfolio for the long run. In later life, they know they’ll have big returns on their long-term investments.

14. They treat themselves with experiences rather than material things

People who are frugal don’t necessarily save everything they have. Rewarding yourself for good management is important for morale and motivation.

However, people who are good with money treat themselves with spa days, weekend getaways, and fun activities, rather than spending money on things they don’t need, such as buying a new iPhone when you already have last year’s model.

15. They gamify money management to make it fun

The sight of numbers, spreadsheets, and formulas can be nauseating for many of us. So much so, it makes it easier to ignore our money rather than manage it.

People who are never broke learn how to make investing, tracking, and managing money fun. They gamify it by setting themselves target amounts of money they would like to save.

They also making tracking money fun through printables, colorful charts, and fun activities. And they make sure to reward themselves when they hit certain targets.


Don’t put off getting better at managing your money to tomorrow. Start today with one or two of these simple habits, and realize this is a marathon, not a sprint.

People who are never broke live far more stress-free lives. They understand that the little actions we take today will make their lives far more comfortable and lucrative in the future.

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15 Habits of People Who Are Never Broke

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