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?
I listed some advices with Quotes.
No matter how low a person's income is, even if it is difficult, people are able to run their family with that small amount of income.
That is quite an optimistic view, but no one can run a family on an income of $1 per day or less. There are basuc necessities that has to be paid for, of which the most important is food and shelter, if you cannot provide these 2 basic needs, there is no family
The higher your income the higher your expenses the lower your income the lower your expenses.
The lower your income, the more necessities you have to let go off. Your expenses does not reduce, but you adjust (by letting go of some things) to make it work. For example, you can forfeit an education for shelter, even though both are important, you opt for the most basic need.
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.
This is a very difficult situation. Even if you give up your personal expenses and spend your income for your family, in some cases you may not be able to afford everything. In such situations, one needs to have a strong mental structure. He needs to find additional income to manage his difficult situation. If he cannot earn additional income, he should make the best use of the money he earns.
They should get their needs in the cheapest way and avoid additional expenses. There are many people living in difficult conditions and they somehow survive. Everyone needs to plan for their financial situation and find the best solution.
Who are them? it's your friend? your cousin? people you see in social media? your neighbor? if you haven't live with them at least for a week, you can't say they can manage their family very well because you're only see the "cover", you don't know about the inside of their family.
Haven't you heard "fake it, until you make it"? I don't believe someone can manage their family "very well" when their income are low range.
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?
It starts by knowing how much the family uses in a month that's from utility bills(water, electricity, phone & data), food, your transport or fuel Bills and if kids are in the picture school fees need to be worked into the calculations then draw up your budget to know how to use available resources.
If one finds themselves in a budget deficit then a side hustle or second job needs to be considered as these bills won't pay themselves...
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.
Mature advice right here !!!
Communication is the key to solving these problems, if both husband and wife need to get a job, then let it be so until husband finds a well paying job to get wife off work duty.
The expression “very well even though their income is very low in their personal life” is not entirely true. Maybe these people and families are well-fed; maybe they are clothed, but we don’t know their real needs. Most likely, they deprive themselves and their children of the most ordinary things, such as what we provide for ourselves and our children. Yes, many people have different levels of happiness. And not everyone’s happiness is measured precisely by money. However, for you to feel good, you first need health, and maintaining it is becoming very expensive these days. But be that as it may, people should not kill themselves with suffering because they are not getting something in life. As harsh as it may be, the fact that someone is poor is always their fault. The fact that people agree to be poor is the biggest problem for them.
There are many people around us, where their income is not enough to manage a family how do you manage your family and economy?
If your income is not enough to manage a family and you do not have a family yet, Do not start one.
There is already a high rate of crime, do not bring children into this world when you know you cannot yet carter for them, that is just adding more to the problems of the society. You should be able to take good care of yourself first before you start a family, do not fall into that trap where you are advised that you can start a family first, that money will come to take care of them, that is a lie!
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?
Planning is the word that explains it all.
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?
Though to me it is very simple to manage a family according to my income, if my income is low, then definitely there are things I will let them go for the main time. No condition is permanent. So people who have a low income will know how to manage their families. For example, if you earn $50 a month and plan for $80 in expenses, that is not a good plan. Cut your cut according to your size. You need to let some things go while you want to have other things. So as a responsible man who wants to manage his family in a good way and has a low income, you will know what kind of expenses you will bring up.
Another solution for less people who have little to survive is to ensure that they do family planning, stop giving birth to kids that you cannot control, you cannot control the economy but you can control your family to your budget so as to live without pressures.
Exactly. The way the world economy is moving now, family planning is very important, and I think it will be the only way to reduce our expenses if we really want to make our family happy financially because things are getting high every day and the income is low. But when this family planning is implemented, you will definitely manage your family's financial status well.
If there’s no other way to earn more then the only option left is to make adjustment with your expenses. Average salary would still give you chances to make it bigger but lower salary on the other hand will be a real problem wherein most of the time, people are the ones who adjust in order for your daily income to be enough for the rest of the day. Managing finances means you should be aware of the amount of money which is circulating with your family’s environment. However one should not settle with low salary especially if you have the skill and knowledge to know more and to earn more. Tough times would indeed push you to adjust your lifestyle for the meantime but that would be for your own good. To those who are saying investment is the key; keep in mind that ot all people has the capability to do so.
A man should always provide. This is what we have learned as we grew up. So doesn't matter what your income is, a man can find ways to provide for his family. I live alone so I may not know about it, but when there is a responsibility on my shoulders, I will find a way somehow. Maybe I will have to suffer, or my family will suffer too, but that's the push that I will need to expand my way of earning.
Here's an interesting fact. As a Muslim, I believe in it. So here it is.
The word Rizq is mentioned 123 times in the Quran and most of which essentially addresses how it comes from Allah the Exalted. It is He who determines what a person will obtain in this life. It is Allah who gives us happiness and Allah who sets the events for sadness. He is Allah Ar-Raziq and Ar-RazzaqSourceSo you have to do what you can to earn but Allah is the one who will provide for you. But the thing is you need to try and keep on working. When you are providing for your family, their rizq(Some scholars translate Rizq as ‘sustenance’, ‘provision’ and some call it ‘blessings’. ) will also come from your hand. So somehow everything will be alright. All you need to do is work in order to get it.
Some people find great value from family and manage to scrape through life very happy in these situations. Sure, they would gladly like the have more money but I have encountered plenty of families who have a very strong bond in comparison to others after going through this lifestyle. There are all sorts of ways to save money in a family, like sharing clothes across the generations - especially for younger kids. Making meals go further with lots of cheaper vegetables. They really have to think creatively and always be on the hustle where they can. Taking advantage of benefits available to them should also be a top priority because in some ways large families are supporting future generations so should be encouraged or at least helped.
Live by your means
Live according into your capability
Live a life which you dont make yourself too lavish on spending
Choose first your priorities
Proper money management
People do really differ on this aspect on which there are ones who do really that ending up on devastated just because of wrong budgeting or spending out of their income which they are
going into those borderline without even thinking on whats tomorrow but there are those people who are really that having that good financial planning on which despite of having not that
sufficient number of their salary but still they do able to partition it out well and able to compensate somehow. Yes, its hard but its not impossible. It would really just depending
or would really be entirely be basing up on how well you do handle yourself when it comes to this matter.
Some cant really just be able to realize that living within their means does give out that kind of advantage. Dont make yourself chasing on being on the trend and buying
shit things along the way because it would really be derailing you out if you are really that making a budget.
If your income is low, you have an extra work to do in order to sustain your family. You must first be smart to detect that your present income is not enough to cater for your family. You have to do the following;
- Try and handle more jobs in order to earn more in order to sustain your family.
- You have to learn to spend less. Deprive yourself some luxuries because of your family.
- Plan to relocate with your family in the case you are living in a very advance area.
- Endure you do not lose money carelessly
- The most important is to train your child to leave according to what you have
I would suggest try to find more money is the only thing that you can do. Trying to learn to live with a small amount is not acceptable and you are going to end up with something that would be a lot worse. If you go from 1000 dollars to 500 dollars and get used to it, then you will get used to 300 and then to 200. Don't do that, find a way to grow your income, I do not know what OP can do or anyone else that can read this can do, we all have our own separate lives so always try to find something that fits you personally but I believe that unless you try to make some more money than you are not going to do a lot better.
I think it should be important to remember that we are going to end up with a better life not by cutting down on our expenses but get better life by earning a lot more money by finding something we love doing.
I will also record some more advice in my diary....
Cheer,
