Going bankrupt while working

[davis196]

So I ask you, what do you think should change for the working man to be in a better spot among all this?

1.No money printing from the big central banks. This would reduce inflation severely(it might probably create deflation).
Deflation might lead to a recession and increased levels of unemployment, but the prices of everything will start going down.
2.Effective anti-immigration policies, so no immigrants would be able to steal your job.
3.Big corporations and banks shouldn't be able to purchase real estate properties. This should lower housing prices.
4.Free international trade policies and zero tariffs. The people should be able to afford cheaper goods manufactured in countries like China.
Unfortunately none of this is ever going to happen in the real world.

[maydna]

A working man or employee must improve his skills to have a better salary because that is what the company concern. They will not hire someone who cannot give their best performance especially in this era which have a tight competition between the employee. We know that the expenses increase following the economic situation so if we can raise our salary by having more skills, that will makes us survive in the hard situation. Perhaps, they can create a new business besides of their main job so they can earn more money to live in. It needs awareness from those who want to change their lives better.

[Wonder Work]

What i figured out in the life of people is just that majority of people who are salary earners, always want to live above their standard regardless of the fact that they ain't earning enough to meet their daily demands. It is true that the cost of living is very expensive now but will increment in earning actually solve the problems of human wants not being satiable?

If a person has more needs than his income, then it is impossible to meet his needs with that income. On the other hand, if the salary increases from his work, then his problem will be solved.

If his salary increases, he may be able to meet his needs with that money, but if this happens, despite the increase in his salary, his needs have increased further, so even after the increase in his salary, his needs will not be met. If there is a limitation to meet his needs, then everything will be fulfilled, but if he prolongs it further, it will not be possible to meet his needs in any way, no matter how much the salary increases.

Nowadays, with the improvement of life, it has become very expensive. Considering that we now have to struggle a lot to meet the needs of daily life, we will have to struggle even more to determine the standard of living above ourselves.

[Findingnemo]

As individuals we have only two choices here, it's either increasing out revenue or decrease our spending but I get we are at the point we almost stopped every unnecessary spending still the prices of things we buy on daily basis keep increasing for that government has to step in by controlling the inflation and price increases via policies and also controlling the exports while the people in their own region lacking or buying it for high cost.

[Wexnident]

~

The system kind of needs to change? The flow of money has changed by quite a bit, but only on the hands of those above. For the common people? They're still pretty much stuck a few years back hence why we're seeing impacts like this. The change has to start there, or the people of now have to do multiple things of what they were initially supposed to do one at a time only. The so-called "hustle" I guess? I mean I'm not denying that it's good, but it shouldn't be the bottom line to start living normally imo.

That's for the people at the bottom anyway. If you're middle end and you can't save, you might need to question your life decisions.

[lovesmayfamilis]

You can give thousands of pieces of advice, but any advice should be individual. Talking about a part-time job will not bring anything new, since some work eight hours a day, if not more. When do you suggest a part-time job? In the same way, talking about opening a business also requires free funds, and if you understand the OP, they are always insufficient. Travel, vacations, or spending time on your interests also go into the negative.
What is the way out, and what should change? Perhaps regular self-education, for which you need to allocate time, and sacrifice rest, after which the creation of self-employment is possible in the company of like-minded people. However, this should also be on the condition that you will not deprive yourself or your family of basic needs.
For someone, moving to other countries that provide the opportunity for a better job in the required specialty, and accordingly a better salary, will be an option. But again, it is very difficult for people to change their comfort zone, although it has long been uncomfortable.

[Wapfika]

So I ask you, what do you think should change for the working man to be in a better spot among all this?

Change company that pays better!

There’s always a better company that you can find either abroad or your local that pays better salary. Also some country has high salary that in need of workers like Canada and Australia due to their small population compared to the land they own.

In my case, I study for higher background education and master different skills that will give me a good salary grade. Sometimes you are just not in perfect location or line of work that’s why you can’t earn better.

[Yucky]

Change company that pays better!

There’s always a better company that you can find either abroad or your local that pays better salary. Also some country has high salary that in need of workers like Canada and Australia due to their small population compared to the land they own.

In my case, I study for higher background education and master different skills that will give me a good salary grade. Sometimes you are just not in perfect location or line of work that’s why you can’t earn better.

It's easy to say "switch careers" or "change job types," but the reality is that it's not that simple. How do you know which career path is best for you? For someone who studied accounting in school and is determined to be an accountant, it's not easy to just switch and say, "I want to be in tech and do graphic design."

You also say switch careers, career changes require self-reflection, exploration, and often, additional education or training. It takes time to figure out which career path aligns with your passions, skills, and values. Moreover, it's not just about switching careers, but also about finding a new career that pays well and provides job security.

Furthermore, not everyone has the privilege of pursuing a new career or education. Some people struggle to make ends meet, and taking time off to pursue a new career is not feasible. Others may have family or financial obligations that prevent them from making a career change.

Given these challenges, I believe we should shift to learning how to manage our income effectively, regardless of your career. Also  maintaining a full-time job while building side hustles to create a sustainable stream of income. Having investment plans and multiple streams of income is crucial, especially since many governments are not making intentional efforts to help citizens earn better.

I advise everyone to be patient and take the right steps. Good things take time, so it's essential to have patience while building your side hustles, investments, and job prospects. Don't rush into decisions or move under pressure; take your time, and things will fall into place.

[Apocollapse]

Change company that pays better!

There’s always a better company that you can find either abroad or your local that pays better salary. Also some country has high salary that in need of workers like Canada and Australia due to their small population compared to the land they own.

In my case, I study for higher background education and master different skills that will give me a good salary grade. Sometimes you are just not in perfect location or line of work that’s why you can’t earn better.

It's not as easy as that.

I see that you have a privilege because you can study high and learn new skills, while people who're not study high and not have time to learn new skills due to having family, sandwich generation, live in a bad environment etc.

When you have a responsibility and you're not have a good degree or high skills, you might not able to change your life, unfortunately most people end up in this endless cycle.

[Zanab247]

Change to were you will be value in the company  is very important to workers because the moment the managements of the company start value your presence in the company, it will give you more opportunities to earn a good salary that will better your life.

I believe you heard many people that was sack in the COVID-19 pandemic season base on some companies were running some losses which there was still some workers which the companies were still accommodating till now because the managements know that they mean so much to the companies and the companies cannot do without them. But if you force yourself out from such companies, it will be difficult for such people to get a better job that will pay them more than the amount the company that values them were paying because the new company will not trust them for anything yet, until they spend some years to pass some test before they can promote them to change their salary and trust them.

[lizarder]

A larger percentage of the the population is unable to save anything now than pretty much anytime before in recent decades.

If we can't achieve the success that most people have in financial matters then we should be fighting harder to find solutions. The growing population is not limited to solutions and instead we need to find a solution to this problem and giving up is a frustrated human attitude and has no goals in life.

So I ask you, what do you think should change for the working man to be in a better spot among all this?

Working is indeed a must because we are required to be responsible for our personal and family lives. But what we need to do cannot be separated from what we prepare and if this is related to finances then find the best solution to increase our ability to make money. If you have a permanent job then set aside money to build a small business because that way we will grow and can divert profits to make other more potential investments in bitcoin.

[Salahmu]

Change to were you will be value in the company  is very important to workers because the moment the managements of the company start value your presence in the company, it will give you more opportunities to earn a good salary that will better your life.

The issue is not even about changing to were the company will value you, the salary is actually the problem here because you can even change to any department and still your salary is just the same, so the solution Is what should be addressed, so actually for me the only thing that can change the working man is being creative in the sense that they will use their mentality to create other things that would support their salary, actually being creative is not only by forcing yourself to save as little from your salary but there are other business that's very good with higher demand such as transport business because I no of someone who do a normal job but because of the high cost the money is not enough, so he had to turn his small car for commercial use, so whenever he comes back from his two weeks leave he use the time to hustle with the car without much stress and just within days to his resumption he had already made almost his salary and to him he is on the better spot because he is wise enough to multiply his income, so actually without creative in terms of looking for the solution there wouldn't be anyway out, so anybody who believe that changing the company he is working for will be solution then finding the solution will not possible for him because he will keep changing company all the time.

[Jegileman]

So I ask you, what do you think should change for the working man to be in a better spot among all this?

The working man should not give up whatsoever. The system they said was designed to make us poor but a busy man will never fail to the system despite the challenges. The economy is not really getting better and those that are even in the government suffer it the most because of their full dependency on salary only. Having multiple streams of income is the best and for salary earners, it is usually not juicy for them all the time after been promised cloud by the governments system. Salaries are no more increased in the same proportion as the level of economical change in the society, so it makes life’s more harder for them the insider than it should for them the outsiders. 

[Mame89]

A working man or employee must improve his skills to have a better salary because that is what the company concern. They will not hire someone who cannot give their best performance especially in this era which have a tight competition between the employee. We know that the expenses increase following the economic situation so if we can raise our salary by having more skills, that will makes us survive in the hard situation. Perhaps, they can create a new business besides of their main job so they can earn more money to live in. It needs awareness from those who want to change their lives better.

True. When facing a difficult situation including the increase in all prices due to a difficult economy and a small salary that is not even balanced with expenses. Of course the first thing we do is save and have to hone our skills so that we can improve our work standards or can find a side job.

Basically in such a situation we have to change our mindset, to become sustainable rich or Instant Rich. I mean Sustainable Rich must always be responsive to the general situation and position the general situation to remain in a profitable position to maintain the sustainability of his wealth in a good way. while your momentary wealth is mixed with general circumstances into your personal life, in this case you cannot manage your finances properly. So to overcome this you must have ambition, change your mindset by utilizing time to move forward and must dare to make decisions and responsibilities.

In addition, do not often have debts, especially for consumer goods. It is better to focus on basic needs first. If there are savings, it is better for investment. Don't think about what it will be for later, because we don't know what sudden needs will arise in the future.

[passwordnow]

So I ask you, what do you think should change for the working man to be in a better spot among all this?

I think it's still being wise in handling finances and being an investor. Look at the rich did, they're all hard workers and majority of them came from the first generation of wealth. They did the hard work for what they have now and they all have the same thing in common, and that's most of them are investors. So, a commoner like me needs to be better at handling finances and at the same time, keeps trying the best fit investment that I can have for which, I've found it with Bitcoin but that doesn't end there because I am still continuing finding one.

[maydna]

~snip~

True. When facing a difficult situation including the increase in all prices due to a difficult economy and a small salary that is not even balanced with expenses. Of course the first thing we do is save and have to hone our skills so that we can improve our work standards or can find a side job.

Basically in such a situation we have to change our mindset, to become sustainable rich or Instant Rich. I mean Sustainable Rich must always be responsive to the general situation and position the general situation to remain in a profitable position to maintain the sustainability of his wealth in a good way. while your momentary wealth is mixed with general circumstances into your personal life, in this case you cannot manage your finances properly. So to overcome this you must have ambition, change your mindset by utilizing time to move forward and must dare to make decisions and responsibilities.

In addition, do not often have debts, especially for consumer goods. It is better to focus on basic needs first. If there are savings, it is better for investment. Don't think about what it will be for later, because we don't know what sudden needs will arise in the future.

Changing the mindset is necessary so we can think for more ideas to have a chance to search for the other source of income. We can not just give up with the situation and doing the same thing that will not change our situation especially if we must fill our family needs. That is the thing that will make us be more creative to solve our problem and the important thing is we can survive and have a saving.

Perhaps we will think to create a small business with our family and ask them for the ideas what we can do together. I am sure if they also thinks about the condition, they will try to help us to solve the problem. If all people in our family can do the same, we will solve the problem and will not have to face the difficult situation because we are ready with anything that will happen. You don't have to take debts if you think you can still handle the situation so you will not think about how you will pay the debts.

[Accardo]

A working man or employee must improve his skills to have a better salary because that is what the company concern. They will not hire someone who cannot give their best performance especially in this era which have a tight competition between the employee. We know that the expenses increase following the economic situation so if we can raise our salary by having more skills, that will makes us survive in the hard situation. Perhaps, they can create a new business besides of their main job so they can earn more money to live in. It needs awareness from those who want to change their lives better.

True. When facing a difficult situation including the increase in all prices due to a difficult economy and a small salary that is not even balanced with expenses. Of course the first thing we do is save and have to hone our skills so that we can improve our work standards or can find a side job.

Saving up smaller salaries hardly adds up, it's proper to improve the skill and invest partitions of the earnings to grow whatever small business the acquired skill could run. In a moment as this when people are advised to stay frugal, growing wealth with little enterprise beats the notion of savings. Due to the inflation rate of the world, the money in the bank losses lots more value each day. Unless the savings is in Bitcoin.

[fruktik]

The feeling a worker gets is increasingly being driven out of everything.
You can't buy the food you like, you can't spend on going out, you can't go on trips.
You can't rent in the neighborhood you grew up in etc...

The economy has recovered since COVID and kept doing ok, but the large numbers don't represent more individuals.
The salary has not gone up as much as the costs. Life is too hard now and even with two income earners in a household, expenses are so much you have to give out all your money to pay stuff without being able to save much if at all.

A larger percentage of the the population is unable to save anything now than pretty much anytime before in recent decades.


So I ask you, what do you think should change for the working man to be in a better spot among all this?

In the Russian Federation, the inflation rate has become so high that several tens of millions of people cannot even afford to buy clothes. They wear the same thing for many years in a row. If a second child appears in the family, then this becomes extreme. Why? And all because this is a direct path to poverty and destitution. Although there are some social programs to support families with children, the payments are so meager that it is pitiful and sad to look at this money. The state is doing everything to significantly reduce the population. The country has been dying out for the last few years.

How can you help a working person? I see only one way out - to create several sources of income and not lose the only one.

I myself became a "victim" of the COVID pandemic, when the company where I worked simply went bankrupt and was laid off. And what about the authorities? No one even gave me a single cent to keep my pants on. Then I realized that I live in an antisocial country where the mafia rules the ball and they do not care about the ordinary working class.

[NotATether]

People with 2-3 jobs simultaneously working go bankrupt even.

In fact, I think that's the demographic that's most at risk of going bankrupt. Because the jobs aforementioned are usually minimum-wage, so they don't pay as well combined as one quality job.

It also contributes to burnout, so instead of doing that, you need to take some time off to learn a high-value skill so that you can claw your way out.

[tottong]

I think it's still being wise in handling finances and being an investor. Look at the rich did, they're all hard workers and majority of them came from the first generation of wealth. They did the hard work for what they have now and they all have the same thing in common, and that's most of them are investors. So, a commoner like me needs to be better at handling finances and at the same time, keeps trying the best fit investment that I can have for which, I've found it with Bitcoin but that doesn't end there because I am still continuing finding one.

Not all rich people come from the same category even though people today say investors have a much greater chance of determining success.
We can determine financial problems based on our respective abilities in handling them and if bitcoin is one way that can be utilized then do it according to the category we have.
Most people fail to achieve financial freedom because they do not understand the pattern and instead they only see the process that people do to succeed.

But if someone does not learn to go through the process then it is difficult to achieve success in investment or even business.
I also see potential in bitcoin but it requires knowledge and responsibility in handling it so that we can further control the risk.