What Does Being Broke Mean To You?
June 2, 2009 by Tisa Silver
Filed under Finance
Tired of people around you crying broke? Broke is everywhere. Perhaps, it is used so often that the severity of true broke-ness has been diminished.
Suze Orman wrote a book for the “Young, Fabulous & Broke.” ABC recently aired a special called UN-BROKE: What You Need to Know About Money.
Photo by RBerteig, courtesy of flickr
What does it mean to be broke? Here is what I like to call The Four Degrees of Broke-ness:
Dead broke – You are operating at a deficit, and have exhausted all of your options. You have overdue bills and no relief in sight. You won’t even come out for free events.
Broke – You have no money to spare. You are barely getting by, but one emergency (a car breaks down, a health issue) could throw you into dead broke-ness.
Mildly broke – Things are tighter than you prefer, but your obligations are met and you have some money to spare.
Selectively broke – Generally speaking, you are financially comfortable. You say you’re broke, but it depends on your surroundings. For example, if you are willing to pay $100 for a meal, but complain when it is time to tip the server, then you are suffering from a case of selective broke-ness.
Being broke or rich may mean different things to different people. A billionaire whose fortune dwindles to a mere million may consider herself broke, whereas a man living paycheck to paycheck may win the lottery for one million dollars and consider himself rich.
This is my first draft of the Four Degrees of Broke-ness, if you have any suggestions, please let me know.
If you are truly broke, I know it is a tough place to be, and it is no laughing matter. wikiHow offers some tips on How to Stop Being Broke and if you have any questions about money, debt, investing, please ask!
