Don’t go broke

If you don’t earn money and go on spending it, you will soon go broke.

Sunil spent so much money to get better at English speaking that he went broke.

Ok, that was an exaggeration but it gets across the point. To go broke means to completely run out of money and all assets, to go bankrupt, to be rendered penniless and not in a position to pay off your debts and loans.

Now, going broke technically may mean completely running out of money but figuratively you can use it to siugnify a situation where someone has very little money.

Let’s take some examples:

1. Seth Dhaniram was the richest man of this city. His forefathers had traditionally been rich merchants and they had a lot of land and property. However, one of their sons fell in bad company and in less than a decade, the family went broke.
2. Many companies go broke because their managers are not able to manage their cashflows properly. They spend where they should not and be stingy where they should be spending.
3. He makes a lot of money but he spends without much thought. That’s the reason he is always broke.
4. His dad went broke after heavy losses in the share market but with his persistence and hard work, he generated a lot of wealth again.

Speaking loosely, going broke means becoming poor – and it is the stronger phrase. Let’s close with some more examples:

1. India almost went broke in 1991 when it had to mortgage it’s gold deposits.
2. We were always broke in our student life. After paying the mess bills, we would hardly have Rs 500 for the entire month, still the happiest time in our life was when we were in college. Money really doesn’t have much to do with happiness.
3. He spent so much money on his daughter’s wedding, he almost went broke. Still, there was not a sign of worry on his face.