10 reasons you're still broke

Put the credit cards down and walk away slowly. Here's why your finances are a mess.

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VIDEO ON MSN MONEY

420Comments
Jul 9, 2014 11:52PM
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Can we STOP sending BILLIONS of dollars to all these foreign countries that steal and squander it....why are Americans living in the street or shelters and American kids are going to bed hungry while we send money to the Syrian Rebels?? SO TIRED of our government giving so much money to other countries instead of FIXING OUR PROBLEMS.
Jul 9, 2014 11:14PM
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How about the 75 to 85% of YOUR money that YOU pay to various governments, FEDERAL, STATE, AND LOCAL????

You think that maybe, just maybe that THAT might be the reason you're so poor??

Think about it, income taxes, [federal, state and sometimes local], sales taxes, excise taxes, property taxes, health insurance [mandatory now] auto insurance [mandatory in most states]. And I'm including these insurances because they are MANDATORY, AND NOT A CHOICE, now. If you HAVE to pay it, it's a TAX and NOTHING ELSE. I Don't care what the politicians and bureaucrats call it, if you have no choice in paying it, IT'S A TAX

Jul 9, 2014 9:22PM
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They did not mention the basic reason for being broke.   You spend more than you earn.  
Jul 10, 2014 11:44AM
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or because we get taxed to death because the government doesn't know how to spend money
Jul 9, 2014 7:47PM
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Reason number 1 is because you are forced to pay for foreign garbage worldwide!
Jul 10, 2014 11:35AM
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Taxes and the feds. The 2 killers of the middle class!
Jul 10, 2014 11:18AM
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Inflation & prices going up while wages stay the same. Sort of like a penny poker card game where the hosts takes out 25 cents a hand. At the end they are the winner.
Jul 10, 2014 10:37AM
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So if those are the 10 reasons I'm supposed to be broke, and I'm not guilty of any of them, and I'm still broke, what's the deal?
Jul 9, 2014 7:47PM
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I am not broke, I have lowered my standard of living pretty good since 2001 but I am no where near broke.  I will have to settle for a lot less than I had planned for when retirement comes in 20 years.  The way the nation has been since 911 I am looking forward to not living long after retirement.  Hell if I don't wake up tomorrow morning I am fine with that too, my bucket list is complete and I have made my peace with God.
Jul 10, 2014 11:17AM
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Getting so tired of these articles....some people just can't get ahead. Unexpected things come up and eat everything they have saved. They are still responsible people, working hard and trying to get by. Many couples I know have a safety net of $$$ from parents or grandparents, they don't have better goals than I do, just a lucky gene pool. 
Jul 10, 2014 9:45AM
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I quickly stopped being broke after I made the decision to stop being poor.
Jul 13, 2014 3:38PM
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What a fluff list! I think we need some real advice for those of us that have an education or two, work and still barely pay the basic bills each month. NO fancy cars, have had the same one for 8 years, no extras or expensive electronics, just ones that work. The cost of Gas, Electric, Water, Food and Medical, especially insurance is a major problem! This is before the mortgage gets paid each month, the biggest bill of all. Then you need a phone, especially if you have a business or you work or if you don;t and you are looking for work. Cable or internet connection which has become a huge rip off business the last few years. Taxes, on the property and income until there isn't enough left to pay the bills much less save $250 a month, ridiculous! In the 1980's I did that, saved every month. I don't think I would have been able to keep a roof over our heads this long if I hadn't, but it's gone now. This economy, lack of the cost of living in increases and the greedy government in the pocket of big corporations has taken those possibilities away from most hard working Americans.
Jul 9, 2014 9:42PM
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You'll always be short because Barry distracted you with his right hand while his left hand was pilfering your wallet.  mmm, mmm, mmm!

Jul 10, 2014 12:56PM
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Hey, here's a few reasons why I'm still broke, federal tax, state tax, self employment tax, sales tax, personal property tax, property tax, business tax, etc...  let's not forget all the fees, that's a three letter word just like tax. my effective tax rate is about 60%. Let's not forget all the taxes and regulations on business that drive prices up. Why don't these idiots start writing about the real costs that are putting people in the poor house?
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You don't save your change for a rainy day:

Yeah, you can't buy much of anything with a nickle or a dime...but you'd be surprised at how fast they add up when saved.
A big bowl of change, say, can help pay for a minor emergency much handier than tapping into savings. Just a thought.

Jul 10, 2014 10:49AM
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There is one more reason missing.

Your skillset is not in demand. 
Jul 9, 2014 6:52PM
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because you use Hillary as a mentor.
Jul 13, 2014 3:17PM
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Of course ya can't count on the lottery to bring you out with good luck. But you CAN count on bad luck to take you down. I worked 3 jobs often times in my life to keep a roof over my kids heads and food on the table. We made it pretty well and my wife and I were on our way to fair retirement, That was until she got sick. and stayed sick for about 10 years before she died. The medical bills  and scripts just kept coming but because we were in pretty good shape we kept up pretty good.We didn't use credit cards so we could not spend more than we had and paid our mortgage. Because of that we could use the house equity to pay off med bills that we couldn't otherwise. To top off the string of bad luck my job was gone a year after my first wife passed so no income at all. I was able to survive (barely) for the year and a half before getting another job .  You can do all the things listed here right and it all get blown up in smoke from BAD LUCK but rest assured the experts that do this type of story will point out that you must have done something wrong it didn't just happen.
Jul 10, 2014 11:53AM
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Your still broke because you still spend more than you earn. The rest is all bullsh..t.
Jul 10, 2014 9:24AM
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Bottom line.  We can get by on  whatever we make or we can broke on whatever we make.  We make many poor choices as we are more interested in satisfying today.  Plan for tomorrow, live for today.   We get that backwards.
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