How do you manage your finances and family if your income is low range?

[Lida93]

There are many people around us, where their income is not enough to manage a family how do you manage your family and economy? There are many people who manage their family very well even though their income is very low in their personal life, how do you manage it?

When you know your income isn't enough to cover the whole needs of your family there are certain needs you'll have to drop and just like in a scale of preference the family only need those things that are very important that you can't do without. Just as @Abu-Naim said you cut the family expenses, there's no need trying to live a stupendous life to impress anyone. You don't choose what you want you allow your income do the choosing. The most reason people are in debt is because they are servicing a lifestyle that is above their paycheck and that's not a kind of lifestyle a family should keep under this economic hardship that's getting worsening by the day.

[pawel7777]

When you're living under low wages, you really have no choice but to work with what you have, that includes budgeting, making sure that you don't fall out of line when it comes to your expenses, watching how much you spend over what you earn and what you are able to save, and all that stuff. You could look at applying for another job but understand that this comes with the consequences of not being able to have much time for yourself moving forward, since it's going to eat up on whatever time you have for yourself and for your family for the sake of money.

I think the major problem here is people accepting being "low-paid worker" as their identity, as something that cannot be changed. If you find yourself in a situation where your job is hardly earning you enough to survive, and there's no opportunity to move up internally, your priority should be finding a better-paid job. There are always some options.
Working minimum-wage jobs should be seen as temporary by default, but when people stay in them for too long, they get drained out of energy and they just accept it as something normal.

[Gaza13]

One of the difficulties of managing finances with a low (small) salary requires extra commitment and patience, always thinking positively and focusing on the goals you have planned. There are times when we need to manage our expenses. Note down all the smallest things in our expenses And get used to the daily needs of the family. Build a habit of living frugally in any case. the solution in my opinion is to improve your skills and look for additional income,

[Egii Nna]

Managing your household needs is simple if you can differentiate between what is very important in your life and those things that are just for the sake of a luxurious life and expensive things. When you, as the head of the family, have identified all these things and can differentiate them, then you will have to consider your income, whether it is daily, weekly, monthly, or yearly. You can then create a budget for your income. With that, I think you can manage your life and provide the best possible for your family members. Even though it is low, you can still use the process.

[MFahad]

The first thing to do is to plan how to use your income. You should have a budget that guides your financial endeavors. You should also take note of the following.

1. Focus on only basic needs and reduce luxury to a large extent. Seek for a cheap alternative for the thing you buy.
2. Search for alternatives for making additional income. You might need to learn a new skill or get a certification.
3. Invest in durable products, don't be enticed by flashy but fragile products. You don't need to change any of your belongings when they are still in good shape.
4. Cut the cost of living by reducing your expenses. You can decide to use public transport instead of driving or moving to a cheaper accommodation. 
5. Pay attention to your health. Don't joke with exercise, healthy food, and hygiene. It is cheaper to maintain your health than to seek medical attention when ill.

Try to know about your spending that on which things you are spending money if you find out something that is not necessary then leave spending on it. This will make you more economical so you can manage your income in right way.

Presently you cannot get the additional job because finding a single job is very difficult for a person so if you fail to find alternative way of earning then just stop using money in unnecessary things so you will have no need to worry about your expenses.

Investment in risky asset is not wise decision therefore don't try to alter your investment into gambling and thing positively as your active mind will help you more than you luck.

[Dzwaafu11]

Managing your household needs is simple if you can differentiate between what is very important in your life and those things that are just for the sake of a luxurious life and expensive things. When you, as the head of the family, have identified all these things and can differentiate them, then you will have to consider your income, whether it is daily, weekly, monthly, or yearly. You can then create a budget for your income. With that, I think you can manage your life and provide the best possible for your family members. Even though it is low, you can still use the process.

Yes, it’s true that identifying what is necessary for your family is very important and will help you to manage your family needs without any worry. However, when your income is low, you will definitely need to have a low budget that will suit your income so that you will not be running around owing people money and collecting loans, because that is what affects people now. They don’t consider their ways of income before making a decision to purchase something, which is very bad.

However, many people today like competition. When a friend gets something, they also have the intention of getting the same thing, forgetting that our destiny is not the same, and competition always results in bad things like stealing, rituals, and other things that cannot help our lives.

[Pingrapole]

We should really focus on the basics first, and then we should look at the expenses if I don't have any problem removing myself from those expenses firstly it will be very difficult But if possible, remove yourself from those needs that seem luxurious or socially uncomfortable because society will not support you with money only insults so don't look at society look at your own good then you will see when you are good then society will judge you well then you will like that i was right.Personal income may be less today may be less tomorrow may be more so wait and patiently ask God then you will see that you are happy with less money if you have more money you will see more danger This is normal so learn to make the best use of little money like if you use a car don't use it now use other vehicles where you Eat with your family when you're eating and drinking in a better place.The last thing is to save little by little, people never have crores of rupees saved for work needs, so learn to save little by little, then you will see that one day you will Owners of property are tiny little girls, not dots of water, seas, oceans. Look at this saying. People may have very little income from your income, but they are happy and you If you don't fulfill the basic needs, maybe there will be some problems, but You will see the solution to your problem gradually. At last, I can say you go well, and your problem will be solved, and you will be back to your previous position.

[dothebeats]

One of the difficulties of managing finances with a low (small) salary requires extra commitment and patience, always thinking positively and focusing on the goals you have planned. There are times when we need to manage our expenses. Note down all the smallest things in our expenses And get used to the daily needs of the family. Build a habit of living frugally in any case. the solution in my opinion is to improve your skills and look for additional income,

I completely agree with you. The ultimate answer to the problem is to find additional sources of income while ensuring that we are spending our money smartly. You see the problem with people who think that once they get an additional source of income everything will start playing out well for them is that they also start spending money more as they feel like they have more money now, what they fail to see is that additional income doesn't mean more money to spend but money to save.

[mamesso]

Very low personal income to meet life's needs is a challenge in itself, requiring hard work and effective strategies to manage finances so that needs can be met. Managing finances with a small salary is not easy, but that doesn't mean you can't do it. As long as you are disciplined in implementing financial management strategies, your financial condition will remain well maintained. The first step so that the strategy for managing finances continues to run is to record expenses to find out which expenses are important and which are not important.

[Peanutswar]

One of my major concerns first is to pay all the possible debts because you can't repeat seeking money to other people if they didn't pay those debts, I consider this as one of the important, next is to have the daily needs, and bills so you don't need to check it every time if you paid on time most of us right now these is a must so you don't need to forget it included this are the food and clothes for the remaining is the savings and needs its ideal if the savings is higher than needs this save you up for your emergency funds, I know not all people have this possible routine and afraid to take a risk to find another job or sideline but this is life there's no luck on it, better to make more strategy than you don't eat for a whole day. Also, the government can't already cater to the number of people seeking financial assistance. One another burden part is you are the eldest among siblings you are the responsible for your families needs too so you need to grind more than before unlike you are alone living.

[DabsPoorVersion]

One of my major concerns first is to pay all the possible debts because you can't repeat seeking money to other people if they didn't pay those debts, I consider this as one of the important, next is to have the daily needs, and bills so you don't need to check it every time if you paid on time most of us right now these is a must so you don't need to forget it included this are the food and clothes for the remaining is the savings and needs its ideal if the savings is higher than needs this save you up for your emergency funds, I know not all people have this possible routine and afraid to take a risk to find another job or sideline but this is life there's no luck on it, better to make more strategy than you don't eat for a whole day. Also, the government can't already cater to the number of people seeking financial assistance. One another burden part is you are the eldest among siblings you are the responsible for your families needs too so you need to grind more than before unlike you are alone living.

Many people can relate to what you have said including myself. I do listing of all my needs and expenses to keep on track with every amount of money that was spend. Excluding to buy the unnecessary things and focus only to the needs likes food, rent, utilities, vitamins, emergency fund and savings. For utilities, I always try to keep the use to minimum. If unused, better to unplug the appliances.

Trying to have another source of income for instances or if ever there's unexpected thing that happen would be better. This is to avoid having debts that will make our life even harder as having debts really destroy how we manage our finances in a monthly basis.

[dothebeats]

One of my major concerns first is to pay all the possible debts because you can't repeat seeking money to other people if they didn't pay those debts, I consider this as one of the important, next is to have the daily needs, and bills so you don't need to check it every time if you paid on time most of us right now these is a must so you don't need to forget it included this are the food and clothes for the remaining is the savings and needs its ideal if the savings is higher than needs this save you up for your emergency funds, I know not all people have this possible routine and afraid to take a risk to find another job or sideline but this is life there's no luck on it, better to make more strategy than you don't eat for a whole day. Also, the government can't already cater to the number of people seeking financial assistance. One another burden part is you are the eldest among siblings you are the responsible for your families needs too so you need to grind more than before unlike you are alone living.

Many people can relate to what you have said including myself. I do listing of all my needs and expenses to keep on track with every amount of money that was spend. Excluding to buy the unnecessary things and focus only to the needs likes food, rent, utilities, vitamins, emergency fund and savings. For utilities, I always try to keep the use to minimum. If unused, better to unplug the appliances.

Trying to have another source of income for instances or if ever there's unexpected thing that happen would be better. This is to avoid having debts that will make our life even harder as having debts really destroy how we manage our finances in a monthly basis.

Same here! I always keep track of all the expenses I had during the week, I also ensure to keep track of every cent I gain to ensure that I am informed of just how much I can allocate for the week's food and utilities needed. Additionally, I also started meal planning so I have a general idea of what ingredients I'll be needing to buy and just how much I can spend on food. Takeouts can only be done once a week, either Saturday or Sunday as a reward for my long week of working (I usually go for the cheapest fastfoods I can find). Although some may think that it takes a lot of effort and time to list down everything, the effort is worth it for me as it keeps me on track with my budget.

I also agree with you with finding additional source of income as you can never go wrong with that as long as it is legal.

[GxSTxV]

I would like to discuss my own personal experience and how I learned from my dad who managed to keep us filled even with a low income. I must say that I have learned a lot from him as I have grown up and responsibilities increase with age. My father with three children and a wife, was the only provider for our family on a limited income as he held the same stable job for over 15 years. He ensured that we focus in our studies and taught us that money isn't everything in life. He also showed us how to find happiness in simple things without being fancy.

As I started working and earning money by myself, I came across many experiences that made me realize that with the same salary my dad had when I was young, he could feed us and cover all our expenses for a month without any issues. But I faced financial difficulties with the same income, only to discover that money management is more important than the amount of income itself.
I learned the importance of saving for unexpected emergencies, such as medical conditions and accidents, and when to invest.

[EluguHcman]

First I would say the ability to hold the family stance is capitalized on the providers capacity and ability to manage a home before considering the rate of his income.
There are people who receives high and higher incomes and yet it seems not enough to run the family and not even on the fact that he has other necessity to tackle or he is saving to realize capital for an investment other than governing a family.

Talking about managing a family with a low income is depends on the impression the provider has invested on the family such as nurturing the family on extravagant or complex lifestyle living.
Hence... You can manage your low income with family my living according to your income rate of possible a minimal to your income because there is surely of other issues arising that is gazed at financial problem.
So the family must live a low cost rate as to befit the low income without exceeding the rate of the of the providers income.
There is no acceptable advice to watch your family crawling on hunger and shelterless or even facing health issues all in the name of financial economization (savings).

There are terms to overlook or minimize considering a low rate income such as>>>
* Mindful of quality of food and the squares of meal and other consumptions.
* Quality of the family's engagement pertaining bills.
* Conciousness of health as not to trigger unnecessary expenses or escalation of expensive expenses as to manage health care.
* Eliminations of self pleasures.

[Vaskiy]

Live with what is available. There is a common statement used by the older generation, "born poor is not our mistake, but dying poor is our mistake". We can continue our life, making calculation based on what we save and what all the expenses need to be met in that particular month. Through the traditional statement I would like to suggest to extend the connections and make yourself better earning person. This is possible, when we're ready to work on it.

If a single person is earning and the family is suffering low income, maybe the other can also find some job. One person's earning can be kept for savings and investment. Another person's earning can be used for all the life needs.

[cabron]

Live with what is available. There is a common statement used by the older generation, "born poor is not our mistake, but dying poor is our mistake". We can continue our life, making calculation based on what we save and what all the expenses need to be met in that particular month. Through the traditional statement I would like to suggest to extend the connections and make yourself better earning person. This is possible, when we're ready to work on it.

If a single person is earning and the family is suffering low income, maybe the other can also find some job. One person's earning can be kept for savings and investment. Another person's earning can be used for all the life needs.

You're in the family together so there must be expected cooperation to contribute to the earnings of the family.  If some people take second jobs to survive, someone else in the family contributes to pay the bills will be a relief for the father who already has a hard time earning a few dollars a day.

But while the money is not flowing well, it's best to just control the spending. People today already are in this situation, living paycheck to paycheck and it's hard to see children today will not go to school because of the economy.

[Lanatsa]

Live with what is available. There is a common statement used by the older generation, "born poor is not our mistake, but dying poor is our mistake". We can continue our life, making calculation based on what we save and what all the expenses need to be met in that particular month. Through the traditional statement I would like to suggest to extend the connections and make yourself better earning person. This is possible, when we're ready to work on it.

If a single person is earning and the family is suffering low income, maybe the other can also find some job. One person's earning can be kept for savings and investment. Another person's earning can be used for all the life needs.

You're in the family together so there must be expected cooperation to contribute to the earnings of the family.  If some people take second jobs to survive, someone else in the family contributes to pay the bills will be a relief for the father who already has a hard time earning a few dollars a day.

But while the money is not flowing well, it's best to just control the spending. People today already are in this situation, living paycheck to paycheck and it's hard to see children today will not go to school because of the economy.

Lucky for you as a Father who do have a children that really having those kind of concern when it comes to family income and supporting whenever someone in need because we know that not all  sons/daughters would really be having those kind of concern or thoughts specially inside the family but rather on the time that they would really be able to get their job then they would really be likely on being that going solo and wont really be minding about giving some help or support to other family members on which this is indeed the fact or reality of this world. This is why as a Father then it would really be always on setting out aside some savings which are really that intended solely for emergencies or into those situations on which you would really be needing up that kind of funding to support whenever there's a hardship.

Never ever make yourself that anticipating on getting some help from your children because you cant really be that so sure that you would really be getting any help from them when time comes. This is why before you would really be making yourself getting involved or attached with married life then its always been that suggested or recommendable that you should really be that save up as much as you can and having that proper financial planning so that you wont really be struggling when the time comes. After that on which on the time that you are already running on your own then it would be always ideal on living
by your means and not with your wants then you would be finding yourself that having a good financial life on which you wont really be having that headache.

[Twentyonepaylots]

Sharing this photo that might help you to reflect on your current life status


Photo from facebook

The key takeaway here is to get yourself out of debt, in all honesty, I'm in debt to various people, friends, and relatives. I got in debt from my previous situations where I really needed money for some emergencies that I have not been prepared for. Having a low income sucks, especially when you don't really have an option, or trying to get other options, but do yourself a favor to no borrow or loan because this where the most problem will start. Try to save as much as you can, may not be that much but small savings could help. Be debt free, or pay your debts first before anything else without sacrificing your daily needs. Once you got out take a portion, even not 15%, just take time to know what you are investing on and you're investment will be worth.

I've been thinking a lot after seeing this photo, reflecting on my next steps in life, hopefully I'll be able to follow these baby steps and live out a happy and contented life.

[pawel7777]

The key takeaway here is to get yourself out of debt, in all honesty, I'm in debt to various people, friends, and relatives. I got in debt from my previous situations where I really needed money for some emergencies that I have not been prepared for. Having a low income sucks, especially when you don't really have an option, or trying to get other options, but do yourself a favor to no borrow or loan because this where the most problem will start. Try to save as much as you can, may not be that much but small savings could help. Be debt free, or pay your debts first before anything else without sacrificing your daily needs. Once you got out take a portion, even not 15%, just take time to know what you are investing on and you're investment will be worth.

I've been thinking a lot after seeing this photo, reflecting on my next steps in life, hopefully I'll be able to follow these baby steps and live out a happy and contented life.

If that image has helped you change your mindset, that's fine. But it's more of a general, common-sense advice rather than a plan. If you have a massive debt, i.e. a student loan, then you should probably focus on: 1) graduating; and 2) use your degree to put yourself on the right career track that will earn you serious money eventually.
Times are changing and what was a good advice 10 or 20 years ago, might not work as well in the current day.
Focusing on being debt-free at a young age is not always the best way to go. It's usually better to take some risk, go into debt to get solid qualifications and increase your income, rather than be stuck in a dead-end job for decades.
Also, the $1,000 emergency fund is way too small. The general rule of thumb says it should be at least x6 times your monthly wages. I suspect that image is from quite some time ago.

But best of luck in getting out of debt and improving your life. Don't give up on yourself.

[Pejoh Asu]

The cost of living is very much determined by location or place, as we know that the cost of living in cities is certainly greater than in villages, almost everything has to be purchased from water, gas, electricity and so on, in most villages in my country there are still many houses that don't want to have electricity and living. It's still traditional so the cost of living is very low, of course I can do this when I have a low income.