Why You Shouldn’t Care If People Think You’re Broke, According to a Financial Activist
Written by
Catherine Collins
Edited by
Zuri Anderson
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Social media makes it easy for people to compare themselves to others, and sometimes, it might be challenging for those who feel like their friends, loved ones, or even strangers are judging the phase of life they’re in.
However, financial activist Dasha Kennedy, founder of The Broke Black Girl and author of the book “Moving Beyond Broke: The Power of Perseverance in Personal Finance,” encourages her followers not to care what other people think.
She recently shared a lengthy Instagram post on the topic, encouraging her followers to focus on their finances without concern for what others think of their journey. In fact, she said what matters most is people work hard to cultivate a peaceful life surrounded by supportive people who care about uplifting them.
Below are a few other reasons why Kennedy said you shouldn’t care if people think you’re broke.
Faking Wealth Doesn’t Fix, Money Problems
Kennedy said that when people try to appear like they’re wealthy, it can harm their long-term financial health. She said it’s not worth trying to impress other people or keep up with them if it causes people stress about their personal finances.
In fact, Kennedy explained, when people try to emulate lifestyles they can’t afford, it can lead to credit card debt and financial stress. Instead, she encourages her followers to stop trying to live in a way they can’t afford and to start building a financial life they’re proud of.
Being Broke Is Not Permanent
The second reason Kennedy said is being broke is temporary. The financial activist noted people do not have to make being broke part of their identity. She explained it’s simply a state of being and a moment in time where people can work on their finances and improve their well-being.
Recent Vanguard research showed that having at least $2,000 in emergency savings can improve people’s financial well-being by 21%. In fact, once someone has emergency savings, according to Vanguard’s research, they cut the time they spend thinking and dealing with their finances by about half.
To put it another way, research shows that once you save at least $2,000, your mental health and your financial worries will significantly improve. That means that being broke and worrying about money doesn’t have to be forever.
Working on Your Money Quietly Helps
Finally, Kennedy said if people think you’re broke, it’s a good thing. In fact, it can be a useful financial strategy because people tend to underestimate those they believe are broke.
During this time, Kennedy explained that some people might whisper about you or speak badly about your financial situation. However, there will also be others who are supportive, and this process can help people find those who genuinely want them to succeed.
Kennedy concluded by reminding her followers that they don’t have to show up in designer clothes to prove they have worth. They don’t have to defend their choices to anyone or take the mental energy to explain them. Rather, she encourages others to spend time improving their financial lives, working to pay down debt and saving for the things that matter.
Ultimately, she said, achieving financial security can bring people significant peace of mind and numerous long-term benefits, regardless of what anyone else thinks.
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