Personal Finance Experts Says These 6 Phrases Are Keeping You Broke (And Are Major Red Flags)

Personal Finance Experts Says These 6 Phrases Are Keeping You Broke (And Are Major Red Flags): Financial advisor reveals the toxic money language that’s sabotaging your saving efforts

Key Points:

Money expert identifies six common phrases that signal a harmful financial mindset and keep people trapped in cycles of debt

Expert explains the damaging beliefs behind phrases like “I deserve this” and “I’ll start saving when I earn more”, and offers practical mindset swaps

Financial advisor warns that these red-flag statements reveal self-sabotaging money habits that prevent long-term wealth building

We’ve all heard them – those throwaway comments about money that on the surface sound harmless, but actually reveal something much deeper about the person saying them. Whether it’s justifying another impulse purchase, or making excuses about why saving is impossible, certain phrases act as warning signs of a mindset that keeps people financially stuck.

According to money expert Fred Harrington from Vetted Prop Firms, a platform specializing in trading education and financial strategies, these verbal red flags are more than just casual remarks. Rather, they’re symptoms of beliefs that actively work against financial success.

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“The language we use to talk about money shapes our financial reality,” explains Harrington. “When someone consistently uses certain phrases, they’re reinforcing patterns of thinking that guarantee they’ll stay broke.”

Harrington, who has analyzed thousands of trading accounts and financial portfolios, has noticed these patterns repeatedly among clients who struggle to build wealth.

Drawing from his experience helping traders develop disciplined financial habits, he’s identified six of the most common red-flag phrases that signal trouble ahead – and more importantly, what to say instead.

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The 6 Red-Flag Phrases That Keep You Broke

1. “I Deserve This”
   This seemingly innocent phrase is actually one of the most dangerous justifications for overspending. It turns wants into needs, and shopping into emotional therapy.

“When people say ‘I deserve this’, they’re usually spending money they don’t have on things they don’t need,” says Harrington. “It’s emotional spending disguised as self-care, and it’s a fast track to debt because there’s always another thing you’ll ‘deserve’ tomorrow.”

The harmful belief behind this phrase is that spending equals reward, creating a cycle where every small victory or bad day becomes an excuse to open your wallet.

What to say instead: “Can I afford this without affecting my financial goals?” This shifts the focus from emotion to logic and keeps your long-term plans in view.

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2. “I’ll Start Saving When I Earn More”
   This classic excuse assumes that income is the only barrier to saving, ignoring the real issue: spending habits that expand to match any income level.

“I’ve seen people making £30,000 and people making £100,000 use this exact same excuse,” Harrington notes. “The problem is not the amount coming in, but the mindset that spending everything you earn is acceptable.”

This phrase reveals a belief that financial discipline is only for people with “extra” money, when in reality, discipline is what creates extra money.

What to say instead: “I’ll save a percentage of what I earn right now.” Start with even 1% – the habit matters more than the amount.

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3. “It’s Only £5”
   Small purchases feel harmless, but this phrase signals a complete disconnect from the cumulative impact of spending decisions.

“Those ‘only £5’ purchases add up to hundreds, sometimes thousands per year,” warns Harrington. “People who say this have usually never tracked their spending, so they have no idea where their money actually goes.”

The dangerous belief here is that small amounts don’t matter, leading to death by a thousand cuts for your bank account.

What to say instead: “This £5 could be £150 over a month.” Always think in terms of patterns, not individual purchases.

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4. “Money Doesn’t Matter”
   This phrase often masks financial anxiety or past money mistakes. It’s a defense mechanism that prevents people from engaging with their finances properly.

“When someone tells me money doesn’t matter, I know they’re probably stressed about money constantly,” says Harrington. “It’s like saying food doesn’t matter while you’re starving – it’s clearly not true.”

This belief system treats money management as shallow or unimportant, ensuring that financial problems never get addressed.

What to say instead: “Money is a tool that helps me live the life I want.” This reframes money as something useful rather than something to avoid thinking about.

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5. “I’m Bad With Money”
   This self-defeating statement treats financial skills like an unchangeable personality trait rather than learnable abilities.

“Saying ‘I’m bad with money’ is like saying ‘I’m bad at reading’ and then never picking up a book,” explains Harrington. “It becomes a self-fulfilling prophecy that excuses poor financial decisions.”

The harmful belief is that financial success requires special talents that some people simply don’t have, when it actually requires basic skills anyone can learn.

What to say instead: “I’m learning to manage money better.” This acknowledges room for improvement while maintaining a growth mindset.

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6. “I Don’t Have Time to Budget”
   Time is the most common excuse for avoiding financial planning, yet the same people often spend hours on social media or watching television.

“Everyone has time to check their bank balance on their phone,” says Harrington. “When people say they don’t have time to budget, it often just means they don’t want to face the reality of their spending.”

This phrase reveals a belief that budgeting is complicated and time-consuming, when basic money management can take just minutes per week.

What to say instead: “I’ll spend 10 minutes this week reviewing my finances.” Small, consistent actions beat perfect plans you never implement.

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Expert Insight
Fred Harrington, money expert at Vetted Prop Firms, commented:

“Financial success starts in your head, not your bank account. The language you use around money either moves you toward wealth or keeps you trapped in struggle. Every time someone says ‘I deserve this’ or ‘money doesn’t matter,’ they’re programming themselves for failure.

I work with traders who manage significant capital, and the successful ones all share one thing: they speak about money with respect and intention. They don’t make excuses or treat spending decisions casually.

The good news is that changing your money language is free and immediate. You don’t need more income to start saying ‘Can I afford this?’ instead of ‘I deserve this.’ You don’t need a finance degree to track your spending or set up a basic budget. What you need is the willingness to stop making excuses.

Most people spend more time planning their weekend than planning their financial future. Your words reveal your priorities, and if your words around money are full of excuses, your bank account will reflect that reality.”

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About Vetted Prop Firms
Vetted Prop Firms is a trusted online platform dedicated to helping traders navigate the complex world of proprietary trading firms. It offers in-depth, data-driven reviews and rankings of prop firms across markets like forex, crypto, and futures, highlighting key metrics such as account sizes, profit splits, challenge requirements, payout reliability, and platform performance.

The site features side-by-side comparisons, exclusive discount codes, and regularly updated evaluations to keep traders informed of the latest offers. Designed to benefit traders at all experience levels, they provide personalized recommendations and comprehensive guides on strategies, account types, and best practices.

Their mission centers on transparency, impartiality, and empowering traders to grow their careers with confidence.