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

[Dickiy]

Some if the ways we can meet to our income standard is to reduce the rate on how we spend on whether we have family or not. There are people that spend more than there income and it is very bad of us if we indulge in that kind of lifestyle. We need to always weigh how often we spend our money to avoid unnecessary insult or having to go and borrow from people around us. There is need for us to make a plan for all our expenses so we can know which one and how we ought to spend our money. Those do not make plan, plan to fail and we need to always put everything we do on plan.

Well that's right one of the ways that we can still balance between expenses and income is by managing our own finances, management will always be the best way to balance. True, no matter if you are married or not but certainly management, especially in terms of finance, must be formed from an early age, sometimes there are already some of them who are still confused about what is meant by "wants and needs", not infrequently the two things are confused, which is where they really want the item when in fact it will not provide any benefit or reciprocity for their lives, they assume that it is a necessity, but I honestly say they cannot distinguish which is meant by wants and needs, obviously if you want something just for lifestyle then it is your desire to always look perfect.

That's right, as I mentioned above, management is very important in any case especially in finance, allocate money only for something we really need and don't let you misinterpret between needs and wants, after that if you have money left over from needs then it's better to save it for future needs.

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[Aanuoluwatofunmi]

As a member of the family, when things are not working as expected, then it's high time to restrategize and make new moves, first of all, i will engage every member on doing something that could bring in an opportunity for independency for them, they can learn trade, develop skills, or look for menial jobs to do and earn from them, everyone cannot continue sitting down at home expecting a change to come up, we will take steps and act upon them, there won't be any form of overdependency on one single person, everyone will have to go out and look for opportunities and be independent.

[bestcoins1]

Yes, it is true but not everyone can be like that but most of them are bigger expenses than the income they get. this is what must be addressed by considering the expenditure of basic needs and the need to meet the current lifestyle, they must limit the current trend of lifestyle spending with luxury items or brands. and right as you said to avoid borrowing from others.

Avoiding borrowing from other people can start by not following too much of a luxurious lifestyle which you may not need to fulfill if your income is very limited. I also agree with your opinion because consideration of spending money on basic needs should be the main basis for everyone in spending money on what they need, but I exclude people whose income is greater. Because those with large incomes can easily follow the lifestyle trends they want.

Some people only prioritize the need to meet the current lifestyle compared to their basic needs, precisely when we don't have a family, this is our chance to prepare it, it can be by saving or investing, it can even be by having your own business, no matter how small the business is, as long as it produces it, do it well.

For some people who still live alone or don't have a family to support, of course they have to be smart enough to take advantage of opportunities to build a brighter future. Even though everyone must continue to work and hope for good luck with their discipline in managing the money and income they get through their work, because if during their single years someone is still quite generous in using money, of course they will find it very difficult to organize their future for the better.

[Litzki1990]

This condition is very common and is not something new. Well, I think this is where we need to activate coordination and communication with our wives. To be honest and I don't think it's wrong to tell the actual income conditions, the figures for how much income comes in every month. That way, our wives can understand and try to manage it optimally and of course there must be additional efforts to help cover these deficiencies. Yes. Being honest is better because we as heads of families have conveyed the true conditions because the final goal of what we are trying is only for our family and not for other.

The best thing to make things easy is to open up to the partner to know how much money that comes in for the month,  communication and understanding can help families manage no matter how small that comes in as their allowance and it will make them to manage money well not unnecessary things. When every member of a family understands what is the income that is keeping the family for the month they have no choice of adjusting every budget and standard just to meet up with bills that is very important for the family.

We have to spend according to our income every month. If the amount of money we earn every month, at the end of the month, if it is seen that the monthly expenses are more than our monthly income, but it is not possible to manage the family with additional expenses. The best plan would be to try to meet the monthly needs of the family by taking a portion of the total amount of money coming in monthly. To avoid overspending, make a list of how much money you spend every day or where you can spend money in a month. It is possible to manage a family well with relatively less money if you plan properly.

[Mahanton]

This condition is very common and is not something new. Well, I think this is where we need to activate coordination and communication with our wives. To be honest and I don't think it's wrong to tell the actual income conditions, the figures for how much income comes in every month. That way, our wives can understand and try to manage it optimally and of course there must be additional efforts to help cover these deficiencies. Yes. Being honest is better because we as heads of families have conveyed the true conditions because the final goal of what we are trying is only for our family and not for other.

The best thing to make things easy is to open up to the partner to know how much money that comes in for the month,  communication and understanding can help families manage no matter how small that comes in as their allowance and it will make them to manage money well not unnecessary things. When every member of a family understands what is the income that is keeping the family for the month they have no choice of adjusting every budget and standard just to meet up with bills that is very important for the family.

We have to spend according to our income every month. If the amount of money we earn every month, at the end of the month, if it is seen that the monthly expenses are more than our monthly income, but it is not possible to manage the family with additional expenses. The best plan would be to try to meet the monthly needs of the family by taking a portion of the total amount of money coming in monthly. To avoid overspending, make a list of how much money you spend every day or where you can spend money in a month. It is possible to manage a family well with relatively less money if you plan properly.

Live by your means
Live on something that would be focused on wants
Live according into your income
Spend on something which is important
Not to spend too much on leisure or wants
Dont try to reach things if you cant realistically be able to do so.

If you are the husband or father of said family then it would really be that responsibility that you would really be needing to manage your finances and budget management.
If you do find out that it is really that lacking or not enough then it would be smart that you should really be looking for another side income on which it would really be
patching up on whats lacking..

Just dont make yourself do spend on things which arent really that important. Always set and prior those necessary things rather than on making yourself
involving on something on which arent really that in necessary because if you do or you are a fan of it then most likely you would really be messing up
things later on.

[cabron]

This condition is very common and is not something new. Well, I think this is where we need to activate coordination and communication with our wives. To be honest and I don't think it's wrong to tell the actual income conditions, the figures for how much income comes in every month. That way, our wives can understand and try to manage it optimally and of course there must be additional efforts to help cover these deficiencies. Yes. Being honest is better because we as heads of families have conveyed the true conditions because the final goal of what we are trying is only for our family and not for other.

The best thing to make things easy is to open up to the partner to know how much money that comes in for the month,  communication and understanding can help families manage no matter how small that comes in as their allowance and it will make them to manage money well not unnecessary things. When every member of a family understands what is the income that is keeping the family for the month they have no choice of adjusting every budget and standard just to meet up with bills that is very important for the family.

We have to spend according to our income every month. If the amount of money we earn every month, at the end of the month, if it is seen that the monthly expenses are more than our monthly income, but it is not possible to manage the family with additional expenses. The best plan would be to try to meet the monthly needs of the family by taking a portion of the total amount of money coming in monthly. To avoid overspending, make a list of how much money you spend every day or where you can spend money in a month. It is possible to manage a family well with relatively less money if you plan properly.

Live by your means
Live on something that would be focused on wants
Live according into your income
Spend on something which is important
Not to spend too much on leisure or wants
Dont try to reach things if you cant realistically be able to do so.

If you are the husband or father of said family then it would really be that responsibility that you would really be needing to manage your finances and budget management.
If you do find out that it is really that lacking or not enough then it would be smart that you should really be looking for another side income on which it would really be
patching up on whats lacking..

Just dont make yourself do spend on things which arent really that important. Always set and prior those necessary things rather than on making yourself
involving on something on which arent really that in necessary because if you do or you are a fan of it then most likely you would really be messing up
things later on.

Oftentimes, it's always the mother who manages the household economy from utility bills to finances involving food and kids' school fees. She will go the extra mile to submit a promissory note to the school for the kids to be able to go to school up until she can save money through the husband's salary. The father usually works and maybe even gets 2 full-time jobs for them to survive.

Sometimes the mother will make veggies to save money. If they are knowledgeable in planting crops and animal farming right in their backyard, she will do it. I've seen one mother do this actually.

[GiftedMAN]

This condition is very common and is not something new. Well, I think this is where we need to activate coordination and communication with our wives. To be honest and I don't think it's wrong to tell the actual income conditions, the figures for how much income comes in every month. That way, our wives can understand and try to manage it optimally and of course there must be additional efforts to help cover these deficiencies. Yes. Being honest is better because we as heads of families have conveyed the true conditions because the final goal of what we are trying is only for our family and not for other.

The best thing to make things easy is to open up to the partner to know how much money that comes in for the month,  communication and understanding can help families manage no matter how small that comes in as their allowance and it will make them to manage money well not unnecessary things. When every member of a family understands what is the income that is keeping the family for the month they have no choice of adjusting every budget and standard just to meet up with bills that is very important for the family.

We have to spend according to our income every month. If the amount of money we earn every month, at the end of the month, if it is seen that the monthly expenses are more than our monthly income, but it is not possible to manage the family with additional expenses. The best plan would be to try to meet the monthly needs of the family by taking a portion of the total amount of money coming in monthly. To avoid overspending, make a list of how much money you spend every day or where you can spend money in a month. It is possible to manage a family well with relatively less money if you plan properly.

The income we do get from different jobs is something that we need to plan on how we use it and spend to pay our bills. There are people that earn weekly and also workers that earn monthly, this is kindly different and if the salary is not huge enough, it can be very difficult for monthly workers on taking care of there bills. When the capital we get or profits we get fr different jobs we offer can not handle our budget, it is very important for us to cut some of our expenses so that we are not going to be spending more than our budget at the end of the month or week when we get paid for work done.

[kawetsriyanto]

We have to spend according to our income every month.

Sure. We mustn't have bigger spending than our income. If it happens, we probably take the option of borrowing money. When we have a debt, it will burden your expenses every month. So, we must avoid it, never think to take a loan money if it isn't for an urgent need.

To avoid overspending, make a list of how much money you spend every day or where you can spend money in a month.

Yep. Making a list of all our spending daily/weekly is needed. It will make easier to allocate how much money to spend daily/weekly. So, we spend the money on the right things. We can avoid something that isn't really needed. It is an effective way to optimize the use of money (minimize excessive spending).

It is possible to manage a family well with relatively less money if you plan properly.

Indeed. A good plan will make easier to manage the money. 

[Franctoshi]

Managing your finances and family when your income is low can be very challenging and sometimes It can even lead to brain stress in the sense that the expenses you do at the end of the day, weeks, and month outweigh the amount of income, and with the current economic situation in place, people with low-income range tend to suffer and feel the heat the most, and to curb this, multiple streams of income are highly encouraged.

[bhadz]

Stop eating outside, cooking your food is a better option than going outside. If you're a family and you've got a limited budget, that's one lifesaver that one has to remember. Obviously, that's what gonna work for a family that's consuming food because you'll not even be able to afford to eat outside because of how expensive food is nowadays. And do not settle that you're just the sole provider to the family if there are some of you that can work just as you, you need to convince them that they also need to work and provide for everyone.

[Lorence.xD]

Stop eating outside, cooking your food is a better option than going outside. If you're a family and you've got a limited budget, that's one lifesaver that one has to remember. Obviously, that's what gonna work for a family that's consuming food because you'll not even be able to afford to eat outside because of how expensive food is nowadays. And do not settle that you're just the sole provider to the family if there are some of you that can work just as you, you need to convince them that they also need to work and provide for everyone.

Also if you have leftover food that you can still use like reheat and to add, like for hams that can go along to anything like sandwich and part of the recipe. I think that way you can also saved up money, cause my mother is good at recooking foods that could last for a week. Whenever you're going to grocery, always have a list to follow cause for sure you would see everything that will led you to buy as well the unnecessary things. Don't also forget the discounts like the buy one take one, it's actually also good as saver, cause I always buy a lot to have stock at home with the same price but double product so it's a win situation. Well, I started to give some money for the needs in the house early at 16, any part time and side hustles would do as long as it's legal.

[poodle63]

Managing your finances and family when your income is low can be very challenging and sometimes It can even lead to brain stress in the sense that the expenses you do at the end of the day, weeks, and month outweigh the amount of income, and with the current economic situation in place, people with low-income range tend to suffer and feel the heat the most, and to curb this, multiple streams of income are highly encouraged.

thats the only key to solving this problem in my opinion, if someone isn't skilled enough that their income are really small, then they should seek 2 jobs, even better if they can hone their skills or learn a new ones.
might seem so difficult to do, even though it is, but really there's no other way, money aren't gonna just fall from sky solving the financial problems.
other than that, I can't really think of life turning solution.
overall, as you said managing low income is really stressing and mentally exhausting, its just not worth it thinking too much of managing the low income when really if the price of basic needs are high, then there's really no way to save money.

[bhadz]

Stop eating outside, cooking your food is a better option than going outside. If you're a family and you've got a limited budget, that's one lifesaver that one has to remember. Obviously, that's what gonna work for a family that's consuming food because you'll not even be able to afford to eat outside because of how expensive food is nowadays. And do not settle that you're just the sole provider to the family if there are some of you that can work just as you, you need to convince them that they also need to work and provide for everyone.

Also if you have leftover food that you can still use like reheat and to add, like for hams that can go along to anything like sandwich and part of the recipe. I think that way you can also saved up money, cause my mother is good at recooking foods that could last for a week. Whenever you're going to grocery, always have a list to follow cause for sure you would see everything that will led you to buy as well the unnecessary things.

Yes, that's a wise move whenever you've got left overs. As long as it is editable, do not throw it, you'll be able to understand the importance of having these foods that you can still eat by just reheating them. It doesn't have to be a few days old, maybe if you're too delicate and sensitive with food, you can just try to reheat that and test if your stomach will intake it. Otherwise, you're not for this food so you have no option but to cook for another meal and dish that you want to have.

Don't also forget the discounts like the buy one take one, it's actually also good as saver, cause I always buy a lot to have stock at home with the same price but double product so it's a win situation. Well, I started to give some money for the needs in the house early at 16, any part time and side hustles would do as long as it's legal.

Bargaining too, if you're the one does the groceries and buying it in market, not supermarket, you can also bargain with a few bucks from the total amount of your purchase which we usually do too aside from the discounts.

[pawel7777]

Stop eating outside, cooking your food is a better option than going outside.

Absolutely. Cooking yourself and eating unprocessed food is not only cheaper but, with the right quality ingredients, is much healthier too. Some link eating low-nutritious food with obesity - when you don't provide your body with what it needs, this results in craving more food despite eating large amount of calories. Makes sense to me.

And do not settle that you're just the sole provider to the family if there are some of you that can work just as you, you need to convince them that they also need to work and provide for everyone.

A man should be the provider, especially when a woman takes care of little children. Sending a woman to work and children to a daycare (which is often quite expensive) makes little sense from the economic point of view and will cause damage to family dynamics (see the decay of family values in the West). A man should focus on increasing his skills and income, and forcing his spouse to work should be the last resort (unless for childless couples or when children are old enough to take care of themselves).

[darkangel11]

I used to be in that situation long time ago, during my studies.
I had a very low income, couldn't get a good job because unemployment was high and nobody wanted to hire a student for a part-time job, when there were so many unemployed people that could work full time. Anyway, I had a few sources of income, but they were all small and I was forced to take money from my parents, which they were happy to give, but that made me take the least I could and try to survive somehow by cutting all expenses.

That involved living with my girlfriend, because it was much easier when we combined incomes. We'd cook a lot of the same type of food and freeze the leftovers. Many dishes are very tasty when reheated, even after a month in the freezer.
I also had much smaller needs than I do now. I could do without so many things that just lie around.
I'm doing some construction work at the moment and I use a lot of tools that I don't really need but they speed things up, make work more convenient. Its the same with basic appliances. I used to have a corded vacuum cleaner, but now I have a cordless one that is twice more expensive, but light and easy to use. I sued to keep a mobile phone for up to 4 years, but now I change it every 2 years.
When your income is low you don't look for new things to buy and you're still happy. I used to be happier when I had less money, to be honest.

[MarjorieZimmermanGinger]

thats the only key to solving this problem in my opinion, if someone isn't skilled enough that their income are really small, then they should seek 2 jobs, even better if they can hone their skills or learn a new ones.
might seem so difficult to do, even though it is, but really there's no other way, money aren't gonna just fall from sky solving the financial problems.

Any skill if you don't have a permanent job will make it difficult for people to manage budget expenditures and finding two jobs in conditions like today is impossible and many people have even lost their permanent jobs in uncertain economic conditions like now. So trying to live frugally must also be accompanied by the extent to which we make money each month and if this is not balanced there is no way to get out of this problem.

other than that, I can't really think of life turning solution.
overall, as you said managing low income is really stressing and mentally exhausting, its just not worth it thinking too much of managing the low income when really if the price of basic needs are high, then there's really no way to save money.

The problem is that the increase in basic needs is not accompanied by an increase in workers' wages, giving rise to an imbalance between the wages of any worker and these goods, which continues to increase significantly. This is just talking about the match between wages and rising prices of goods, not to mention if people lose their jobs due to layoffs.

[uswa56]

Any skill if you don't have a permanent job will make it difficult for people to manage budget expenditures and finding two jobs in conditions like today is impossible and many people have even lost their permanent jobs in uncertain economic conditions like now. So trying to live frugally must also be accompanied by the extent to which we make money each month and if this is not balanced there is no way to get out of this problem.

At least with your existing skills you can open up employment opportunities for yourself so you can earn extra money. It's not easy to find additional income, but that doesn't mean it's impossible, there are many things you can still do and to manage your finances so that they are stable we don't always have to have a steady job, there are many ways to make money as long as we are willing to do/look for them.

The problem is that the increase in basic needs is not accompanied by an increase in workers' wages, giving rise to an imbalance between the wages of any worker and these goods, which continues to increase significantly. This is just talking about the match between wages and rising prices of goods, not to mention if people lose their jobs due to layoffs.

This is currently a problem in various countries, the increase in prices of basic commodities due to global conditions is not accompanied by increasing wages, so many people are having difficulty stabilizing their finances to meet their daily needs.
There really is no other way than to save money and also earn extra money.

[DeathAngel]

To be able to manage finances and family with a low income requires careful budgeting and prioritisation. Look to start by creating a realistic budget that accounts for essential expenses like housing, food & your transportation. Look for ways to reduce costs such as cutting back on non essential expenses or finding cheaper alternatives. Take advantage of government assistance programs & community resources that can help with food, healthcare or childcare costs. Communicate openly with your family about the financial situation & involve them in finding creative solutions. Consider seeking additional income through a second job or exploring opportunities to improve your earning potential through education or training.

[bhadz]

Stop eating outside, cooking your food is a better option than going outside.

Absolutely. Cooking yourself and eating unprocessed food is not only cheaper but, with the right quality ingredients, is much healthier too. Some link eating low-nutritious food with obesity - when you don't provide your body with what it needs, this results in craving more food despite eating large amount of calories. Makes sense to me.

Yup, it's healthier and people think that healthy foods are more expensive than processed and fast foods. Some gotta be but if you do it yourself, you'll see that it's much healthier and cheaper. I understand people becomes easily crave with the food ads that they see on social medias, don't get along with those as most of them are made to be attractive but when you get the meal, they're expensive and yet far from images provided.

And do not settle that you're just the sole provider to the family if there are some of you that can work just as you, you need to convince them that they also need to work and provide for everyone.

A man should be the provider, especially when a woman takes care of little children. Sending a woman to work and children to a daycare (which is often quite expensive) makes little sense from the economic point of view and will cause damage to family dynamics (see the decay of family values in the West). A man should focus on increasing his skills and income, and forcing his spouse to work should be the last resort (unless for childless couples or when children are old enough to take care of themselves).

Well, you're right about that. But it's not literally I am pointing out to the love of your life as it's the toughest job to become a mom. I haven't just mentioned how big the family is, because in our country. A big family and only one man supports everyone while the other members of the family(not mom) are capable of working and helping with other needs but they just don't and are too lazy. This isn't particular to only one family but too many to say.

[TimeTeller]

To be able to manage finances and family with a low income requires careful budgeting and prioritisation. Look to start by creating a realistic budget that accounts for essential expenses like housing, food & your transportation. Look for ways to reduce costs such as cutting back on non essential expenses or finding cheaper alternatives. Take advantage of government assistance programs & community resources that can help with food, healthcare or childcare costs. Communicate openly with your family about the financial situation & involve them in finding creative solutions. Consider seeking additional income through a second job or exploring opportunities to improve your earning potential through education or training.

For one, you need to list all your basic needs for a month and see where you can reduce some of your expenses.
Like for example, your electricity bill, what do you think are the major contributors in your bill and how to lessen it?
When it comes to rent, maybe, if you are renting, assess how much you are currently paying as compared to other cheaper options around your area.
And when you talk about food, how often are you buying from restaurants? Can you make your own food which will incur you lesser expenses?
Those basic necessities alone, will already give you idea how much you can save if you opt to some saving tips.
Afterwards, that's when you look at your daily activities where you are spending extra funds and how to trim it down.