How to thrive with low income in a humble area

[stompix]

~

I'm not a smoker, so I did an average calculation considering a cigarette pack costs about 1$, as I found prices varying from 1$-1,60$ and I know people usually smoke a pack a day (20 cigarettes).

Hmm, how do we call this thing, being lucky or truly unlucky that a pack is so cheap? It's usually around 5-7 for a pack here depending on the blend. I'm usually against taxation but making things like alcohol and tobacco cheap for countries with low income shouldn't be a thing, normally one should think of making them even more prohibitive than in rich countries where they can afford this, but it seems like every politician wants to keep those cheap
Panem et circenses to keep the masses happy.

But I have to say the shipping system is getting better each new year. Delivery is getting faster and costs remain acceptable, as the state's courier/post office's service lost protagonism and private companies and individuals are taking its place (example of delivery fee: a bit less than 1$, just now for a smartphone purchase).

Yeah, you have low costs with gas and probably bike transport, low wages, if that is applied to a high-density populated area you can bring those fees down, anyhow I have zero delivery fees here for some only shops but it still can't beat in store prices, at most it'ss the same prices but you will never get a better deal online alone for groceries, most real good deals are of limited availability and not even feature in the app as they are sold out in hours.
Second, most of the chain stores have a 20-50% discount on products near the expiring date, those are only for in person so somebody in desperate need of savings will still go to a physical store.

I still think that the best way to save is by what you buy not really what method of shopping you use.

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[Smartvirus]

* Don't forget to spend only a teeny tiny of money on wants, and only buy wants when you have a budget oversupply. Needs first — always.

* Increase your income. Saving can do so much.

Does it ever gets surplus @Budget? Mine often ends in deficit no matter how hard i try but somehow, I get to archive most of what I've got palnned out.

I really do think how to survive is not something you really get to teach someone. Most persons have got the know how to this tricks but somehow, perhaps due to societal influence, peer pressure and low self esteem, one tends to go out of his or or way to measure up in status. That's such a sad way to live really. You'll just find yourself living another man's life while yours stay inhibited andost times, your left thinking just how to make your shoes fit.

Just know your income range and when it comes periodically, the better. You scale your needs and wants to what is commensurate as per funds and spread it through when your sure to get the next pay. Also, learn to keep something aside for emergencies and some investment. Cool!

[fadhilz123]

Successful people will make anything potential, many successful people in areas who have low income, I see the things they do is dare to provide convenience and capital loans so that they can get big profits, for example agricultural areas and there are people who dare to finance farmers from processing Land to harvest and he gets very good profit sharing.

It only takes advantage of existing opportunities to earn income because those who have capital also see who still needs capital to carry out their work by applying loan regulations to the agricultural sector and also other sectors besides agriculture. Because the target of the capital provider is to get profit through this in order to continue to rotate their capital so that the income is always there and does not make them too tired in managing it.

[Davidvictorson]

To thrive with a low income, the individual must have a monthly budget and stick to it strictly. Failure to do this would result in the individual falling into debt, and this can spiral into an unending hardship. Also, always go back to your budget and have an emergency fund set aside to take care of any unforeseen situations that may come up later.

[AmoreJaz]

To thrive with a low income, the individual must have a monthly budget and stick to it strictly. Failure to do this would result in the individual falling into debt, and this can spiral into an unending hardship. Also, always go back to your budget and have an emergency fund set aside to take care of any unforeseen situations that may come up later.

simply put it, don't live beyond your means. if you know you are in tight budget, just make your own coffee rather than buy in starbucks or other coffee shop. just a simple example that will give you idea how you need to act in your situation. have a monthly budget of your necessary needs. as much as possible pay your bills on time. piling up would not do good in your budget as it may incur penalties.

[uneng]

Hmm, how do we call this thing, being lucky or truly unlucky that a pack is so cheap? It's usually around 5-7 for a pack here depending on the blend. I'm usually against taxation but making things like alcohol and tobacco cheap for countries with low income shouldn't be a thing, normally one should think of making them even more prohibitive than in rich countries where they can afford this, but it seems like every politician wants to keep those cheap
Panem et circenses to keep the masses happy.

Lucky or unlucky, it depends on the point of view, I guess.

Even though cigarettes' costs here are much cheaper, the corresponding percentage to taxes is already quite high: it can reach to 88% of the product's costs, depending the state of the federation. It's considered the good with highest taxation of the country.

Anyway, I suppose the quality of the cigarettes you have access in your country must be superior (composition, ingredients, blend, texture, etc).

Also, despite cigarettes being cheap, there are people who still go for cheaper illegals ones from international smuggling. Can you believe that?

Yeah, you have low costs with gas and probably bike transport, low wages, if that is applied to a high-density populated area you can bring those fees down, anyhow I have zero delivery fees here for some only shops but it still can't beat in store prices, at most it'ss the same prices but you will never get a better deal online alone for groceries, most real good deals are of limited availability and not even feature in the app as they are sold out in hours.
Second, most of the chain stores have a 20-50% discount on products near the expiring date, those are only for in person so somebody in desperate need of savings will still go to a physical store.

I still think that the best way to save is by what you buy not really what method of shopping you use.

Transport is mainly done through highways by trucks. Diesel costs about 1,30$ per liter. Wages are minimal for most workers involved on the process, that is true. The point is that there are many warehouses being built by different delivery companies in key positions, so they can supply the largest number of cities around in a minimal time frame, with reduced costs. There is also a lot of partnership among different stores, so when looking for a product in a popular shopping website, they will contact an accessible partner who has the product you are looking for and he will execute the order.

Physical stores are more expensive because you pay for the seller's comission who treat you physically in loco.

[lienfaye]

One of the biggest difficults in life is to manage growing your patrimony and income, when earning minimum wage and living in poor areas where opportunities are scarce, as is the money circulating in the local economy.

That's true. I'm living in a third world country and life here is really difficult if you're not from a middle class or rich family. The minimum wage salary is not enough to sustain the needs of a family of 5 or more, it's already hard to budget due to the increase of almost everything unless other family members are also working.

So to survive, you really need to prioritize the needs before the wants. I think if you already experience hardship, you're already aware of what you should do that can make you become wiser when it comes to managing your money. In addition it is advisable to not rely on your main job because as we always said, having an extra income is much better because this can maximize your earnings. This way you can provide for what your family needs and can somehow save.

[Hispo]

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I guess that’s because that man is simply closed minded. Although I have often hear same instances like that, but to put it in general, those kind of people are just afraid to change because they think they would still fall on their vices again later on. And as what I have often observed, those who fall for different vices are usually those who have no permanent jobs, as they have more time for their vices than to look for a stable source of income that will make them busy with and that will give them a good income.

It can be a vicious cycle, actually.
People do not get a job because their vices, since they do not have a job then focus on their vices. There can also be some kind of mental illness or affliction which makes things harder to them.

I generally try not to judge people in those situation because I do not actually know them or know why there are "trapped" in such life style.

[Darker45]

Where I come from, the problem most of the time is that many want to impress others. Many live their lives trying to be pleasing to the eyes of other people. So they want to have branded clothes, branded shoes, branded everything. They want to have an expensive phone even if it means taking a loan to buy it.

With a low income, I'd rather live in the most practical and simplest way possible. My friends used to make fun of my keypad phone because everyone else was already using smart phones.

The main factor in destroying a person is lifestyle. so that many people are destroyed because they follow the trend while their income does not support it, so that in the end it makes it difficult for themselves because of an inappropriate lifestyle. indeed it would be better even though we are rich, but still have a simple lifestyle, so that our assets will continue to increase, and guarantee our old age life, when we are unable to work. because nowadays many people prioritize prestige rather than function of an item

I don't actually know what people get by showing off. If you are worth $10k and you pose yourself to worth $500k, you only putting yourself under pressure and also then people will only be surprised at you when you cannot live upto the expectations for people who worth $500k.
But when you are worth $2M but appear to worth $10. Everyone will be surprised when they know your actual worth

Showing off is rather deeply embedded in our DNA. It could even be traced to our natural tendency to spread our genes, find a mate, survival, and so on.

Anyway, what's funny is that if you are worth $10k and you would want to appear to be worth $500k, you might end up spending $50k. On the contrary, somebody who is actually worth $500k only needs to spend $1k and he/she would still appear more worth $500k than you are.

When a poor man tries to impress others by wearing original branded and expensive stuff, others will assume those are all imitation. When a rich man wears cheap imitations, others will conclude right away those are all truly original and expensive.

[Die_empty]

That's true. I'm living in a third world country and life here is really difficult if you're not from a middle class or rich family. The minimum wage salary is not enough to sustain the needs of a family of 5 or more, it's already hard to budget due to the increase of almost everything unless other family members are also working.

So to survive, you really need to prioritize the needs before the wants. I think if you already experience hardship, you're already aware of what you should do that can make you become wiser when it comes to managing your money. In addition it is advisable to not rely on your main job because as we always said, having an extra income is much better because this can maximize your earnings. This way you can provide for what your family needs and can somehow save.

I also live in a third world country where inflation is over 50% and the government have not increased the minimum wage. This has led to high rate of crime and suicide in my country. What me and my family did was to cut down on our expenses. We observed that school fees was eating up most of our finance and if we don't reduce it, we might starve. My partner is a qualified teacher, so we decided to get the necessary approval and started homeschooling the children. And it worked perfectly because the children were able to pass all the standardized examination last year. We also reduced our spending on clothing. We ensured that we bought quality clothing that are durable so that we don't keep spending consistently on wears. Our family also had to move from our neighborhood to a cheaper house somewhere else. We also had to learn to eat locally produced food and reduced our spending on some expensive imported meals. These changes were very painful, but we had to make these sacrifice so that we can survive in this perilous times.     

[19Nov16]

The unique fact today is that there are many millionaires from areas or places where the majority are poor, if we want business and quick profits then the best thing is to look for areas with a low economy, there are better opportunities than in cities that have to compete with old players and more known to the public, if we think positively then it is no longer wrong to start a business from a place or area with a low economy.

[autumnleaf]

It is difficult and challenging to follow those procedures you outlined given the current economic condition. I firmly believe that if you want to improve your life, start by improving yourself. A positive outlook from within can really enable you to go past your difficult circumstances. I believe that your community and government also have a significant impact on our ability to live fulfilling and prosperous lives by creating jobs for those who lack formal education or who dropped out of college.

[Finestream]

Get rid of addictions/habits: addictions or habits (in mild cases) are harmful not only for your health, but also for your finances. Cigarettes and alcohol are responsible for consuming a large portion of the income from individuals living on minimum wage. It's not that unsual to find people spending at least 1$ on cigarettes daily, what after 1 month will result in 30$ expenses, which could be going into bitcoin investment, for an example.

As someone who has seen people living on the line of poverty before, I can tell you that this step is extremely tricky.
I am talking about people whose one of the few escapes from reality they had was smoking, drinking or gambling, most of the time as a social activity to relieve their struggles. They do not even bother to count how much money they spend on beer or cigarettes, by the way.

I recall certain case of this man who used to smoke so much that if he stopped smoking for a day he started to feel sick, flu-like symptoms.

We can always witness these kind of people living in squatter’s area as most of them live their lives poorly but overspend when it comes to gambling and vices addiction. That makes them poorer in the process, instead of looking for jobs and saving for their kids future. But I don’t tend to generalize since a lot are also struggling to sustain from their low paid jobs and do a lot of ways to save so they can sustain living their day to day activities.

[el kaka22]

Thrive is the hardest part. I mean if you have a low income then even if you live in a humble area then you can't really thrive there, or maybe your understanding of thrive is different than mine.

I personally believe that if you want to thrive, then you should be making more money than people around you, I used to make as much as x4 more than what people around me made, but these days the inflation caused it to be terrible right now and because of that people are getting a lot more money, even though their purchasing power is similar, or maybe even lower, which caused my x4 to be a lot less, barely x2 these days, not even that much. This is why it's a trouble.

[mvdheuvel1983]

One of the biggest difficults in life is to manage growing your patrimony and income, when earning minimum wage and living in poor areas where opportunities are scarce, as is the money circulating in the local economy. Some hints that could be useful:


Choose carefully where you go shopping: some supermarkets are more expensive than others. Shopping on physical stores is more expensive than shopping online. Don't go for the first price you see on the labels. Search for promotions, try to adequate your demand for products to your currently financial budget in a way you don't spend all your money in the end of the month.

Some supermarkets are selling overpriced commodities. You spend more on the same item one could get for less at a corner shop or a thrift shop.
If you earn low, there is no need to act rich by going to the malls, or having expensive launch and dinner dated or breaking the bank to designers whatever to impress people who do not like you.

Use your tongue to count your teeth is a famous saying.

[og kush420]

One of the biggest difficults in life is to manage growing your patrimony and income, when earning minimum wage and living in poor areas where opportunities are scarce, as is the money circulating in the local economy. Some hints that could be useful:


Choose carefully where you go shopping: some supermarkets are more expensive than others. Shopping on physical stores is more expensive than shopping online. Don't go for the first price you see on the labels. Search for promotions, try to adequate your demand for products to your currently financial budget in a way you don't spend all your money in the end of the month.

Some supermarkets are selling overpriced commodities. You spend more on the same item one could get for less at a corner shop or a thrift shop.
If you earn low, there is no need to act rich by going to the malls, or having expensive launch and dinner dated or breaking the bank to designers whatever to impress people who do not like you.

Use your tongue to count your teeth is a famous saying.

People are now doing organic garden - and this is helping them save few bucks.
There are so many things we can do to save some funds. and this is the good practice too. I would try not to go to market for window shopping. I am not going for the minimal approach

[_BlackStar]

Life isn't all about saving and only thinking about investing, you have to be able to balance everything without being too stingy to yourself. Oh hey, I need cigarettes and I need drink, eat and lifestyle - but everything needs balance with income and expenses. It's fine to live simply, but you may never be able to enjoy the fruits of your labor if you are too strict on yourself.

I'm not going to be this strict with myself because basically I'm still thinking about how to enjoy the fruits of my own labor. I'm not sure how strict you are, but I think it would be ridiculous to live so simply when you have money.

[Synchronice]

I'm not a smoker, so I did an average calculation considering a cigarette pack costs about 1$, as I found prices varying from 1$-1,60$ and I know people usually smoke a pack a day (20 cigarettes).

Hmm, how do we call this thing, being lucky or truly unlucky that a pack is so cheap? It's usually around 5-7 for a pack here depending on the blend. I'm usually against taxation but making things like alcohol and tobacco cheap for countries with low income shouldn't be a thing, normally one should think of making them even more prohibitive than in rich countries where they can afford this, but it seems like every politician wants to keep those cheap
Panem et circenses to keep the masses happy.

It shouldn't be a thing for low income countries but I remember years ago I read a news where in one poor country the government increased excise duty on Tobacco and Alcohol and there was a big protest inside the country. People were saying things like: We have low income and how to get the fun out of life if we aren't able to buy tobacco and alcohol. Now they want to take it away from us. || So, yeah, the government truly keeps it lower to keep people quiet but at the same time even if you try to increase prices on these addictive things, it will cause more protest among them. I think it's like being a poor and having a possibility of little fun at the same time sometimes becomes a comfort zone that people don't want to leave.

Yeah, you have low costs with gas and probably bike transport, low wages, if that is applied to a high-density populated area you can bring those fees down, anyhow I have zero delivery fees here for some only shops but it still can't beat in store prices, at most it'ss the same prices but you will never get a better deal online alone for groceries, most real good deals are of limited availability and not even feature in the app as they are sold out in hours.
Second, most of the chain stores have a 20-50% discount on products near the expiring date, those are only for in person so somebody in desperate need of savings will still go to a physical store.

I still think that the best way to save is by what you buy not really what method of shopping you use.

That depends on the country. As far as I know there isn't a huge difference between buying grocery things from Amazon vs supermarkets in the USA but if you compare amazon.de prices to Kaufland for example, you'll find tremendous difference. And in Germany Rewe is an only option to buy directly from the store in its original price, most supermarkets don't have delivery or you have to use some 3rd party apps that aren't a great option either.

Btw once I was in one Eastern European city where Bolt Food was a new thing at that time and they had so amazing promotions for more than a month that it was very savvy for me to order absolutely every food and grocery online via their app instead of shopping in local supermarkets. Almost everything was -40% off for a very long time.

[Yatsan]

We are living under different circumstances. Not because some people having the same salary are able to make it through the day, same thing will go to every people. We have different bills to pay and life we are living. I do get the point of being more positive with life, strategizing things to make one's income more efficient, and such but that's not how simple life works to each and every one of us. Environments would matter as well, perhaps you are already a bread winner of your family and it happened that you have created your own. Would disengaging to your biological family be a key? No. 'coz we are born with different cultures. We simply need help from governments. Small salary won't be sufficient if the market goods are just expensive.

[freedomgo]

To thrive with a low income, the individual must have a monthly budget and stick to it strictly. Failure to do this would result in the individual falling into debt, and this can spiral into an unending hardship. Also, always go back to your budget and have an emergency fund set aside to take care of any unforeseen situations that may come up later.

That’s how it should be. Focus on your needs, not on your wants so you can live your life accordingly based on your set target. And stay away from all those temptations that are only considered unnecessaries in life. That way, you will live your life at peace, away from being drown to debt. And yes, have your own emergency funds so you will always be prepared for whatever unforeseen events that may happen unexpectedly in your life.