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10 Benefits of Being Broke

Updated on March 27, 2011

Being broke is something that most people really don’t like. Let’s think about it for a moment. It usually conjures up images of not enough of food, resources, fun… just about anything! And the longer one sits in the place of feeling broke, well, the longer it lasts.

So what can be good about being broke? Actually, quite a bit if you really think about it. You just have to look for the gold buried in the coal. Ok, I really have no idea if you can find gold in coal, but you know what I mean!

10 Benefits of Being Broke

  1. You do not have to decide how to spend the money you do have. This can be a welcome break when you’ve been stressing about how to or not to spend your money.
  2. You get to look around for items you no longer want or need and sell them. I’m not talking about Grandma’s heirloom jewelry that you cherish, but I am talking about those work clothes you no longer fit into or find fit your style. Taking items to a consignment shop or selling on Ebay is a good experience to have and brings someone else a little something they feel like they want.
  3. It might just spur you to reduce your expenses, at least for a time. Why would this be good? It is always good to strip one’s self down a notch as far as material or luxury possessions go. It keeps one humble. I’m not talking about suffrage, just a slight removal from thinking things have to be “just so”.
  4. You start thinking about why you’re broke. This definitely is a starting point. Is it over spending? Is it attitude? Is it the job? Is it lack of education or skills… or faith? What is it? Regardless, if you start trying to find the “cause”, you’ll eventually find it.
  5. Looking for things to do that don’t cost money. Searching out resources for no cost fun will take you to the true beauty of our world, if you let it. Nature, the wonder of children, and public places offer more entertainment value than many paid excursions. Take some time to be with the cloudy sky, let the wind whistle alongside your face, take a walk, feel the crunch of leaves underfoot. Allow the bounty of our Universe into your being and you will find that there is plenty to “do” that doesn’t cost a thing.
  6. You just might consider changing your relationship with money. It was once said that the love of money is the root of all evil. Wait a minute! The love of money as evil?! How about you can love what you do with it, but not love it? Or maybe it’s just fine to love it. Anyhow, being broke is certainly an opportunity to look into your relationship with money.
  7. It is likely you will reduce your impact on pollution and the environment. With less money it is likely you will be more conscious of what you do buy. (Come on, we all know how to scrounge for change, you know you will come up with some). When you’re scrimping on expenditures you will probably spend less on the “junky” stuff that you’d end up disposing of later.
  8. Possibly this experience will create a new sense of resourcefulness within you. You may need to seek out financial support in ways you did not previously imagine. Who knows… you might even meet some interesting people!
  9. You may just discover your true heart’s longing. Everyone has a dream they want to fulfill, a service they want to provide to participate in the giving and receiving cycle of life. Something about being broke (especially for what may feel like is perpetually) can take one to the place where a joyous life purpose is revealed. It does not have to be sought after, though, for it is within waiting to be discovered at the perfect time.
  10. In your desire to not be broke, you launch a super strong desire to find your way out of being broke. When you choose to follow that desire you will undoubtedly come to know the truth: the only thing separating you from financial freedom is a collage of thoughts and beliefs about money. Does this make it your fault? No, it just means you are the creative power in your life and you can have a harmonious life, if you choose. Don’t believe it? Start over at benefit #1.

I'm going to give you a hint... Those pennies you just collected to pay for that little something you wanted. You know how you felt kind of annoyed and the clerk or teller acted the same way? Well those little one centers, when looked at in a refreshing light, are the pure roots of a million dollars. How about that?

About Rainbow Recognizer

Amy Phoenix is a gentle, yet direct parenting guide and healing facilitator dedicated to sharing insights and practices to transform frustration and anger, heal the past and nurture conscious relationships – to appreciate all aspects of life. Visit her at


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    • RainbowRecognizer profile image

      RainbowRecognizer 4 years ago from Midwest

      Thanks, mama! :) I look forward to writing more very soon and still enjoy this one I wrote a few years ago. Fun to see where I've been and at the same time still feel the same about certain issues. :) Take care.

    • Thundermama profile image

      Catherine Taylor 4 years ago from Canada

      I thoroughly enjoyed this hub and you are so right, there are gifts and wonderful lessons in living through lean times. I look back on many of the times in my life I had to do without with fondness and a sense of pride. It's an amazing resource to know you can live with very little. Loved the positive energy of this hub. Hope to see you writing more. Voted up and sharing.

    • Talullah profile image

      Talullah 5 years ago from SW France

      Thought-provoking hub! In fact, I think that having too much money could be almost as problematic, especially when you have to decide where to put it; not that I've ever been in that situation - at least not yet! Those mega-lottery wins that hit the headlines - what on earth do the winners actually do with hundreds of millions?

    • Bhanu.Jas profile image

      Bhawana Salaria 6 years ago from Australia

      Believe you me,Great hub.


    • Mrs. J. B. profile image

      Mrs. J. B. 6 years ago from Southern California

      When you own a house, cars and have children. You are always broke. I am use to it. Plus being broke you learn how to do other things for fun and it's free!

    • whcobb profile image

      William Cobb 7 years ago from Clarksville, TN

      I love this hub. I put myself into a "broke" lifestyle in July 2009 when I obtained a Credit Card, with a $13,000 limit to go to Disney World with my wife and 2 year old daughter and her brother and his family. I figured that with the extra money I would be making in the year I was to be deployed during the year following the trip, I'd be able to pay the card off and get rid of it... Well, here it is over year later and I've been back from the deployment for about 3 months now and the balance is just over $12,000. I'm gonna have to try some of these ideas... Great hub!

    • lisakleinweber profile image

      lisakleinweber 7 years ago

      Hi Amy, this lens was great :) you rock. are you any less broke these days? or are you still 'living it'? :)

    • RainbowRecognizer profile image

      RainbowRecognizer 8 years ago from Midwest

      I love it, Lou! So true! :o)

    • Lou Purplefairy profile image

      Lou Purplefairy 8 years ago from Southwest UK

      Fantastic hub and I agree wholeheartedly!

      I may be as broke as the birds and the bees, but my needs are the same as theirs (food, sheltr, warmth etc) and they dont have to "pay', so, I guess by being broke I am closer to my natural state of being: free.

      Also, I am rich in many other things that when you are not broke (or the opposite of broke) most people seem to be lacking: honesty, patience, love and compassion, qualities all the gold in the world cannot buy, so I often ask myself, am I really broke? or is this system of "gotta buy, gotta have" what's really broke in this world? Food for thought...

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      Thanks, Patricia, Lisa, & Neil :o) I totally agree - abundance is it!

    • profile image

      Neil Mersy-Frank 9 years ago

      Thank you Amy for some great reminders of how to make the best out of what might seemingly be the worse for many. Our household is going through reaching towards many of the points you make and it feels wonderful! And you've given us even more concepts to consider. Abundance is so much more meaningful that wealth!

    • Lisa Nance profile image

      Lisa Nance 9 years ago from North Carolina Mountains

      It's all about dwelling on what you have, not on what you don't have. Great Hub!!

    • Patricia Costanzo profile image

      Patricia Costanzo 9 years ago from Behind the Redwood Curtain

      I think I was the most broke in college. Going out for $5 pizza on Friday nights was like champagne and caviar now. Its just perspective isn't it?

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      You're welcome, AEvans and I totally agree, RGraf :o).

    • RGraf profile image

      Rebecca Graf 9 years ago from Wisconsin

      Very true. We've been there and done that. To be honest, being broke can be fun and lifting.

    • AEvans profile image

      Julianna 9 years ago from SomeWhere Out There

      Great tips!!! Thanks for sharing and giving such positive information. :)

    • mrs know it all profile image

      mrs know it all 9 years ago from The Windy City Suburbs

      Forgive me Rainbow, I've been away for a few months so missed this one!  I concur with this wholeheartedly and this is a good piece.  My husband and I have been in tough times in our electrical business and we have been humbled, grown more and learned more in this time than ever before.  It truly is a blessing in disguise to be broke - and everything our parents warned us about...thank you

    • ripplemaker profile image

      Michelle Simtoco 9 years ago from Cebu, Philippines

      Being broke before taught me the lesson on how to live within my means. It taught me the value to live simply. And enjoy simple pleasures in life. :) And yes, I learned how to be resourceful in looking for ways to earn. So it's all beautiful. Thanks Amy for a great hub and thoughts to ponder upon. :)

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      Yeah - it's crunch time for many...

    • funnebone profile image

      funnebone 9 years ago from Philadelphia Pa

      I would expect a lot more visits to this Hub in the coming weeks!

    • shawna.wilson profile image

      shawna.wilson 9 years ago from Arizona

      This is a great article. Having little money can actually make for a much simpler life than the stresses large amounts of money can bring. The tips you highlight in this article are great for everyone, not just those who are "broke." Good job!

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      I think there will be more than 10 ;o)

    • epictruth profile image

      epictruth 9 years ago from Frisco

      10 benefits of being rich? Waiting on that one. Thanks!

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      You're on top of the game! Comfortable is it :o) Thanks for your comments!

    • Constant Walker profile image

      Constant Walker 9 years ago from Springfield, Oregon

      Amy. Good one. I live comfortably because I keep my expenses down to things I actually use, and am always looking for ways to save on the power bill (unplugging things when not in use makes a big difference), and checking to see if there is a better monthly deal on a cell phone, etc. The cheaper I can live - comfortably, the more money I have for the things I enjoy. And yes, I keep a change jar, and a penny jar. And I'm happy to say I rarely need to use them.

    • Dottie1 profile image

      Dottie1 9 years ago from MA, USA

      Great article. Many times when my kids were younger I had to look for things to do that didn't cost money. It seems like those are the very things that I hear them still talk about today. It really doesn't cost anything to have fun or to build memories.

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      I was anticipating a good laugh from your comment as I clicked from my inbox to view it - Thanks, Funne!!! :o)

    • funnebone profile image

      funnebone 9 years ago from Philadelphia Pa

      I feel better now thank you. I am going to name my couch cushions rainbow after you under them lies my only worldly weath.

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      Agreed :o)

    • pastorreachout profile image

      pastorreachout 9 years ago


      Keep up the positive. The best times I remember with my kids when they were little was going and being at the city Park. We played laughed imagined and it didn't cost anything. I think we get closer to God too when we are broke.

    • jim10 profile image

      jim10 9 years ago from ma

      Some good really does come out of every situation. Sometimes its just hard to find it. Thanks for the help.

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      But of course! And once someone can get into appreciation mode about a life event they initially perceive as negative... well, doors open... wide!

    • talented_ink profile image

      talented_ink 9 years ago from USA

      This is an interesting hub because of the perspective you take on being broke. I agree the most with the fourth benefit because I firmly believe that our thoughts determines the direction of our lives.

    • RainbowRecognizer profile image

      RainbowRecognizer 9 years ago from Midwest

      I'm glad everyone enjoyed this one :o) I had a feeling... It's all in the way we look at things. This life is supposed to be pleasant, not miserable. It's my aim to show how we can make that happen while we're still alive!!! :o) Love to all!

    • Health Conscious profile image

      Health Conscious 9 years ago from South Florida - USA

      Thumbs up Amy

      I especially like the thought on pennies. I love the question "Which would you rather have, 1 million dollars or 1 penny doubled for 30 days?"

    • Eileen Hughes profile image

      Eileen Hughes 9 years ago from Northam Western Australia

      This is a really great hub. Maybe more people should appreciate this because what you say is so true. So many people winge and moan for nothing. We all need to sit back and take stock on what is really important. And get on with life.

      Really thought this was thought provoking. Thanks for sharing this

    • MasonsMom profile image

      MasonsMom 9 years ago from U.S.A.

      Great ideas!

    • 516Ads profile image

      516Ads 9 years ago from Long Island

      Rainbow, Only you can take being broke and turn it into something positive. That's why when you HUB, I read.

    • barryrutherford profile image

      Barry Rutherford 9 years ago from Queensland Australia

      very good I enjoyed reading this !