How to thrive with low income in a humble area

[RockBell]

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.

I think management is very important, regardless of the amount of income. All you said is true, and once you don't manage well it starts resulting into always collecting borrowing before receiving your payment. It is better to plan because he or she who does not plan in life is then planning to fail. That is where most people go wrong because they do not budget their income and do not plan.

[1715344264]

1715344264

[South Park]

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:

snip

Those are good tips and they are necessary to cope with your situation, but probably the most important thing when you find yourself in a situation like this is to try to earn more money, and there is no other way than to become your own boss and start your own small business, even if you got another job and worked for someone else you are not going to be paid what you are worth, then your only option if you want to improve your living conditions as fast as possible is to work on your own, now it would be unwise to leave your job when you are doing so badly already so you will have to keep your job for a time until your business succeeds.

[carlfebz2]

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:

snip

Those are good tips and they are necessary to cope with your situation, but probably the most important thing when you find yourself in a situation like this is to try to earn more money, and there is no other way than to become your own boss and start your own small business, even if you got another job and worked for someone else you are not going to be paid what you are worth, then your only option if you want to improve your living conditions as fast as possible is to work on your own, now it would be unwise to leave your job when you are doing so badly already so you will have to keep your job for a time until your business succeeds.

It would be a total suicide if you do quit up your current job just to pursue on what you do have in mind specially on building up your own business and trying to be independent.We should do the opposite or really

that waiting for the right time and dont make yourself in a hurry because when you do then this do usually cause huge mistakes that you might regret later on.Proper planning and considerations before someone
would really be making out decisions whether they would be leaving their current job and focus on other career or would stay and would observe if they are really that making some progress.

Not all do ends up on being successful for those people who had tried out to be going into that investment path.

[Vaskiy]

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.

I think management is very important, regardless of the amount of income. All you said is true, and once you don't manage well it starts resulting into always collecting borrowing before receiving your payment. It is better to plan because he or she who does not plan in life is then planning to fail. That is where most people go wrong because they do not budget their income and do not plan.

It is all about how we tackle the situation with the income made. Most of the time people have an attitude to manage the need with the calculation from the upcoming month. This means they borrow and so that by the upcoming month it can be settled. Something unexpected happens and unable to settle it becomes a big problem and the amount getting carried forward will be a hindrance.

[Strongkored]

Step by step you are going to improve your financial status, be patient and determined. Good luck!

What is equally important is to never take on debt just to fulfill life's desires or to buy goods whose value will quickly decrease even though we don't really need it unless the debt is needed for very important things and for activities that can produce money and only consume the food that is process at home instead of buying at a restaurant because this difference can make us save a little.

[og kush420]

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.

be it a humble area or modern urban area. Inflation is hitting everyone equally
Emergency funds is the need of the time - you never know when you are hit hard and what is coming up. But one should have a good emergency funds. But then i realize when there are natural disaster like one happened in Turkey. What are emergency funds going to do?

[Distinctin]

* 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.

Needs should be the priority first, and when you’re done with them, you can try to achieve your wants once you’ve got extra money to spend. But as I’ve said, if you’re struggling with funds, focus on your needs first. However, if you can have other sources of income, that would be a lot better so you can increase your income, reserve for your savings, and mostly you can do as much as you want with your extra money on hand.

[virasisog]

* 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.

Needs should be the priority first, and when you’re done with them, you can try to achieve your wants once you’ve got extra money to spend. But as I’ve said, if you’re struggling with funds, focus on your needs first. However, if you can have other sources of income, that would be a lot better so you can increase your income, reserve for your savings, and mostly you can do as much as you want with your extra money on hand.

Self-discipline is very important for us to have proper budgeting. Nowadays, the price of necessities are increasing which includes our bills so buying things that aren't really needed will just consume too much of our budget so we must delist them. As much as possible, we must live a lifestyle based on our salary and we shouldn't exceed too much so we can still have enough savings. Don't be attracted and tempted to buy unnecessary stuff to avoid misbudgeting. Control our urge to spend too much, especially on things that we can't afford. It's better to live a simple and well-managed life.

[carlfebz2]

* 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.

Needs should be the priority first, and when you’re done with them, you can try to achieve your wants once you’ve got extra money to spend. But as I’ve said, if you’re struggling with funds, focus on your needs first. However, if you can have other sources of income, that would be a lot better so you can increase your income, reserve for your savings, and mostly you can do as much as you want with your extra money on hand.

Do your best to have this kind of partition.

30% savings
30% food other similar expenses
5% transportation
10% bills
10% rent (if you dont have your own house)
15% Clothing

This is my partition on monthly basis.It depends on how much you do earn though since
we arent living on the same place and not earning on the same numbers.

[Rockstarguy]

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.

I think management is very important, regardless of the amount of income. All you said is true, and once you don't manage well it starts resulting into always collecting borrowing before receiving your payment. It is better to plan because he or she who does not plan in life is then planning to fail. That is where most people go wrong because they do not budget their income and do not plan.

Life is planning,  the only way we can meet up to our target in life is to adjust the lifestyle in which money is been spent. It alway difficult or impossible to meet up when there is no planning on how money is been spent. Money is mysterious,  no matter how much amount of money is coming in, if there is no good planning I'm managing it, it can all go off without one having any knowledge to give account about it. Money can be difficult to get but very easy to spend no matter how big it is.

[Ludmilla_rose1995]

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.

I think management is very important, regardless of the amount of income. All you said is true, and once you don't manage well it starts resulting into always collecting borrowing before receiving your payment. It is better to plan because he or she who does not plan in life is then planning to fail. That is where most people go wrong because they do not budget their income and do not plan.

One example of a plan is "I want to go out and I have to take an umbrella or a coat because maybe when I'm enjoying the outdoors, it may rain or shine."

in life, a plan is vital, don't let it happen when you lose your job, your family gets sick or even dies, the cost of education is increasing but you don't have the money to fulfill it all.

[zaki12]

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.

When I was young, my money ran out quickly, even though I was a person who worked diligently and had a decent income. I can't control spending. But now I always say I don't want to spend money for something unnecessary. I already understand which needs and which wants. Desire is included in the category of unnecessary things. Because we don't know what will happen in the future, so maximize your income to invest or to save.

[rahmad2nd]

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:

This will really depend on where a person lives. in particular, those living in poor neighborhoods or areas. The problem is that environmental factors will greatly affect how the people see themselves, most of the poor do not have sufficient resources. whether it's in terms of income, or the way they think. the ways you describe in this thread are very useful, but to implement them is not as simple as we discussed. especially the marginalized, who do not have proper education. almost most poor people think and what they know, how to find food today, for tomorrow, how later. let alone saving, even to meet basic daily needs, sometimes they are not met. I think it will be very difficult to implement it, especially in the midst of a crisis that has hit the world economy, food hunger, and so on.
but in essence, the methods that you convey in this thread will apply if someone wants to train and educate himself so that he is released from the poverty trap.

apart from all that, overall, the points you convey are very useful tips and advice. I like it, especially the last point.

[boyptc]

Social media is effective and that's why having ads there will really push us to buy things even if we don't need it. You'll get to see the algorithm of them work.

If you're telling something while you're connected to the web and you have their apps on you, later on an ad will pop just exactly what you've mentioned.

That's why it is encouraging for everyone who sees those ads especially if they're food as you crave. Control yourselves with that and you'll get to save money.

[Kasabus]

* 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.

Live within your means and stay out of luxuries in life so that you will not be tempted from taking unplanned debt. That way, you can focus on the necessities like your needs, and avoid all those unnecessary things that are not even useful at all. That way, you can expect to live within your own comfort and peace without being triggered by some unpaid matters.

[Lubang Bawah]

To be successful in business, there are many things that we have to pay attention to, and for the location, of course, we have to take good account of it, if we focus on business in locations with a low economy, the most important thing is to understand what is needed there, for example, agricultural areas which usually have a low economy. different from the city area.

[og kush420]

To be successful in business, there are many things that we have to pay attention to, and for the location, of course, we have to take good account of it, if we focus on business in locations with a low economy, the most important thing is to understand what is needed there, for example, agricultural areas which usually have a low economy. different from the city area.

To me hardwork is the key be it the area of low income of expensive town life is difficult.
But only hard word - honest and the invasion is the best of the all.

[Cryptock]

To be successful in business, there are many things that we have to pay attention to, and for the location, of course, we have to take good account of it, if we focus on business in locations with a low economy, the most important thing is to understand what is needed there, for example, agricultural areas which usually have a low economy. different from the city area.

I think the best approach is the minimal approach - less is. more - spending money on the items which are not needed should be avoided
Have some patience on buying and save up a little. Life doesn't remain the same - neither happy nor sad!

[Cryptmuster]

I think management is very important, regardless of the amount of income. All you said is true, and once you don't manage well it starts resulting into always collecting borrowing before receiving your payment. It is better to plan because he or she who does not plan in life is then planning to fail. That is where most people go wrong because they do not budget their income and do not plan.

Financial literacy of a person is one of the most important items that a person should have. This will allow you to correctly plan an available budget, so that not only enough to survive, but also to create some kind of start-up capital (albeit not large), which will allow you to start a business, or start investing. We are not taught financial literacy in school, this is what we must learn ourselves.

[Joshapat]

Many countries that we say are poor countries but in fact there are many world-famous rich businessmen, in many developing countries with per capita income of less than $2000 per year but he can become a millionaire, the main factor that makes someone earn big income in areas with small income is cultural approach , when they are accepted it will be easy to do marketing. In my country which is still poor there are some people who can master the economy, but they always provide services and are easy to help.