Topic: How do you manage your finances and family if your income is low range? - page 7. (Read 1838 times)

Side gigs or side hustles are almost everywhere today. Gig economy has been one way easy for everyone to have additional income.

Support won't be able to feed you if you are just talking about the moral support that you need when you're looking for side gigs. Because you've got mouths to feed.

The best thing to be done from the start on which we should really be living by our means and not by our wants because if you do find yourself that too impulsive on buying things which arent that priority and the money you are really that earning isnt really that sufficient then you are really that looking yourself for trouble and this is something that you should having in mind that set your priorities first and then if you do have some extra
then this is the time that you would really be considering on buying on things that you do like. Managing finances as a main provider or simply being the father or husband is never been simple because everyone is really that depending on you on which means that you would really be needing to be wise when it comes to spending or else you would really be that overdropped or would really get lost on your budget.
If you do have plans on trying out to expand or potential source of income adding up then it would really be just that wise that you should really be dealing or looking for another job which you can add up but of
course it would really be imposing some possible or potential sacrifices but for the sake of our family and means of supporting them then we should really be doing it without hesitation but of course you should be giving
importance with your body or simply still having the balance because if body would really be that compromised then earning extra income would be pretty darn useless.

That way at least we have savings even though it is small in value, but it's okay to save with even a small value because no matter how small we save if we have a strong determination there will be good results later, saving yourself in the bank or investing in anything that will provide positive value for ourselves. This is what should be applied to people with low income, even with the low income they get at least they save or invest to prepare for the future, because if they have a low income and only prioritize lifestyle it will not last long and there will be no end if we follow the lifestyle seen from the lifestyle that now people style with luxury to get praise from others. There is nothing wrong with following a lifestyle, but the other side that we must see will be the future that we will face ourselves.

Only some people can save with a low income but they don't hesitate to save in order to have savings for their future, people like this usually don't prioritize lifestyle but think about what their future will be like if they don't save from now on even though it's hard to save but we have to be able to at least set aside our income to be saved and can be used if there is an urgent need because basically no one knows when the disaster will come.

You're right; we should live within our means so that we can take care of our families. However, some people can never imagine that. There are many people who prefer to pursue a luxurious lifestyle to leaving a simple one so that outsiders should know that they have the money. As for me, we concentrate on a way that will bring us money so that we can be able to take care of our families. All they need to do is leave their current situation; we need to help them no matter how little money we make. It is okay to even tell them how much money we make, especially if we are still supporting our wives or other family members. A simple life is all we ask for; it should be simple to leave.

First of all, if we think our capacity is not enough, we shouldn't attempt and create a family because it's not only us is the ones that are going to struggle but also the innocent kids and then our wife. I know this is hard because people are selfish and only push their deserves. They can only regret at the end but if ever we are there on the situation, all we need to do is budget properly.

We shouldn't be afraid to tell it to our family and I'm sure they will understand us. We can also try to look for another source of income if our time and body still permits. Lastly, if we have extra income, maybe we can save it or invest. Cryptos are a good option because a small amount is welcome here.

Nowadays a tendency works in our mind where a person cannot afford to buy a thing but he does so with various loan facilities. As a result, when he continues to pay monthly installments, he tries very hard to reduce the expenses of his family to pay the monthly payment. But here, if he had saved some money instead of taking any kind of loan, he would not have been under too much pressure. It is a suicidal decision when we think of purchasing various expensive products to adapt ourselves to our environment. If I start borrowing once with bank loan or credit card then it will continue which can be life threatening. We should do whatever we can. If we follow others, we will invite our own disaster.

It must be very hard to save money when your income is already too low. There are couple of different methods that can be followed focusing on saving money first. To be able to invest money, you need to have money. So you should cut expenses so hard. Especially when you are young it's easier to cut expenses. Then when you have money you can basically try to buy flat with low rate fixed credit from banks. I think there's no better investment than a flat/house.

I understand your point and I honestly agree with you. If an individual really has the drive to find a way to make (additional) income they will somehow find a way to do so despite any discouragement they may get from others. Moreover, small income is still income and there are always available ways to increase it as long as we know how to critically analyze, plan, and put the plans we have into action. The economy is not favorable for most of us due to inflation and we can't really do anything about that state but what we can do is to adjust and find ways to constantly survive. We cannot let ourselves be stuck and just continuously cry and complain as that will obviously take us nowhere.

That's true and by having skills we can develop our own business potential even if it is small and in this way our income can increase slightly. If someone wants to try, there must be a way to make money, but because their prestige is greater they prefer to be unemployed rather than trying to find a solution. I also see that the circulation of money in the market is very large and if we just want to sell vegetables we can definitely make money because the market is never empty even if people don't have money.

Creating a program to grow vegetables in your yard could also be a solution amidst the ever-increasing prices of basic commodities, at least so that these needs can be met and you are not completely dependent on produce sold in the market. If these needs can be met, it will be easy for people to face these problems, because if salaries are not commensurate with the increase in prices of goods, it will certainly make it difficult for people to meet their family's living needs.

Its looks simple, life based on how much your income and not push your self with luxuries life if your income low range, regarding with many kinds of loan interested from debit card until online place for taking loan its not good ideas have to push up luxuries life with low range and have take much loan. I think when having low range financial condition try to make effective with all outcome and balance with passive income receiving, don't be shy around environment when they have luxuries life but make balance between income and life condition. One thing when you have low range income under $500 each month don't try to buy car with credit way, better use motor bike with lower range based on lower financial income than have to pay loan interested every month for showing to the other about luxuries life when having car.

"Make life more meaningful without have loan interest".

Yes. Live within your means. Do not live with life’s luxuries, but chose to live a simple life. If you do that, your life will be more at peace. And stay focus to yourself and your family, do not entertain destructions that will only lead you to ruin your set limits. And as much as possible, be grateful for what you have, but always encourage yourself to never limit yourself to only single skill and single job. Develop more skills so that you can also increase your sources of income. If that happens, you will never be drown into debt but will even make your life more meaningful and progressive.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.


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).

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.

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.

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.