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Episode 31: 7 Reasons Why You Are Broke & How To Change It

Episode 31: 7 Reasons Why You Are Broke & How To Change It

Hello everybody, and welcome, welcome, welcome to yet another episode of Kosmo Unfiltered.

Once again… it’s me and my man Wes.

Today we’re gonna be talkin’ about something that’s a little bit of a touchy subject for a lot of people.

We’re talkin’ about money - the green stuff.

We’re gonna be brutally honest. So if you’re not ready for it… then this may not be the episode for you.

Again, remember we don’t run any ads, we don’t have any sponsors, and all we ask is that if you like the podcast, you can share it with a friend!

So before any further ado… let’s jump right into it! 

Uhh… This Is Why You’re Broke

OK. Let me preface this with something. I cannot give a one-size-fits-all answer as to why some people struggle with money. I just can’t.

But what I can do… is offer some advice based on what I’ve seen.

And the real reason why so many people are broke is because of a lack of discipline.

That’s the number one cause of being broke in our society, I think. 

And it all starts in school. People don’t get taught how to save money.

You get taught how to send a check, but not how to properly save.

Then… 20 or 25 years down the line, and people wind up in the situation that they’re in now. They just don’t know how to properly save money, and they go broke.

I mean, there are a lot of reasons why people might go broke. But the overarching reason, in my eyes, is just to do with a lack of discipline.

And a lot of that stems from trying to impress other people.

Here’s Why I Won’t Buy a Lamborghini

OK, so technically I could afford a Lamborghini.

But I ain’t gonna buy one. And I never will.

Then again… It was always my childhood ambition to own one.

So why would I give up the chance to own a Lamborghini when it was literally my childhood dream?

Because one day, I sat down and asked myself…

“Why do I want a Lamborghini?”

  • Because people will think I’m cool.

“OK, and how long will that feeling of happiness last?”

  • Like 2 weeks.

Then that day, I decided I didn't want a Lambo anymore. There was no way I was going to spend hundreds of thousands of dollars on a cool car for people to think I’m cool for about a month.

Just not worth it.

And this is the problem that most other people have…

They will go broke trying to look rich.

I mean, if you can go out buying designer shoes or handbags… that’s all great, but… can you really afford it? Being deeply honest with yourself?

Ignorance with money is one of the biggest reasons that people go broke.

I’ve also compiled some more reasons why people might go broke…


Man, this is absolutely crazy right now.

I have no idea what the hell is even going on.

But what’s even crazier to me isn’t just the actual prices. It’s how people are responding to it.

Like man, if your home was $100k eight months ago and now it’s $200k… It. Is. Not. Actually. Worth. $200k.

How more obvious can that actually be? The house is just not worth that much, and it’s gonna come crashing down soon. 

Oh man, I mean, don’t even get me started. I know this guy who recently bought this 7-figure beachfront house.

And I just thought: Man, I don’t know if I’ve ever heard a decision dumber than that.

I mean, seriously. Oh, and I know this guy, he 100% doesn’t intend on renting it out. He just wants to show it off.

Again, this all comes down to a lack of discipline.


This is a really big one in the town I’m from.

There’s a ton of casinos around my town. And think about this one logically…

If the odds were in your favor every single time you gambled… do you think the casino would let you play?

And if you multiply that by the tens of thousands or maybe hundreds of thousands of people who visit a given casino every week … would they still be in business…

I’ll let you answer that one yourself.


Again, this is one that I used to do all the time.

I thought I deserved it, so I would treat myself and head to the bar with some buddies.

But I always remember when I’d get home, I would just get this strong sense of guilt all the time.

And you know you could go out with the intention to spend just 30 bucks or so. Next thing you know, after buying drinks for other people and getting food, you could be down a hundred bucks or something.

It’s super expensive if you’re doing it every weekend too!


Where is an area that you could save more money in? Let us know on social media at @kosmounfiltered!


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