Topic: How to thrive with low income in a humble area - page 4. (Read 1076 times)

What is equally important is to never take on debt just to fulfill life's desires or to buy goods whose value will quickly decrease even though we don't really need it unless the debt is needed for very important things and for activities that can produce money and only consume the food that is process at home instead of buying at a restaurant because this difference can make us save a little.

It is all about how we tackle the situation with the income made. Most of the time people have an attitude to manage the need with the calculation from the upcoming month. This means they borrow and so that by the upcoming month it can be settled. Something unexpected happens and unable to settle it becomes a big problem and the amount getting carried forward will be a hindrance.

It would be a total suicide if you do quit up your current job just to pursue on what you do have in mind specially on building up your own business and trying to be independent.We should do the opposite or really

that waiting for the right time and dont make yourself in a hurry because when you do then this do usually cause huge mistakes that you might regret later on.Proper planning and considerations before someone
would really be making out decisions whether they would be leaving their current job and focus on other career or would stay and would observe if they are really that making some progress.

Not all do ends up on being successful for those people who had tried out to be going into that investment path.

Those are good tips and they are necessary to cope with your situation, but probably the most important thing when you find yourself in a situation like this is to try to earn more money, and there is no other way than to become your own boss and start your own small business, even if you got another job and worked for someone else you are not going to be paid what you are worth, then your only option if you want to improve your living conditions as fast as possible is to work on your own, now it would be unwise to leave your job when you are doing so badly already so you will have to keep your job for a time until your business succeeds.

I think management is very important, regardless of the amount of income. All you said is true, and once you don't manage well it starts resulting into always collecting borrowing before receiving your payment. It is better to plan because he or she who does not plan in life is then planning to fail. That is where most people go wrong because they do not budget their income and do not plan.

That’s how it should be. Focus on your needs, not on your wants so you can live your life accordingly based on your set target. And stay away from all those temptations that are only considered unnecessaries in life. That way, you will live your life at peace, away from being drown to debt. And yes, have your own emergency funds so you will always be prepared for whatever unforeseen events that may happen unexpectedly in your life.

We are living under different circumstances. Not because some people having the same salary are able to make it through the day, same thing will go to every people. We have different bills to pay and life we are living. I do get the point of being more positive with life, strategizing things to make one's income more efficient, and such but that's not how simple life works to each and every one of us. Environments would matter as well, perhaps you are already a bread winner of your family and it happened that you have created your own. Would disengaging to your biological family be a key? No. 'coz we are born with different cultures. We simply need help from governments. Small salary won't be sufficient if the market goods are just expensive.

It shouldn't be a thing for low income countries but I remember years ago I read a news where in one poor country the government increased excise duty on Tobacco and Alcohol and there was a big protest inside the country. People were saying things like: We have low income and how to get the fun out of life if we aren't able to buy tobacco and alcohol. Now they want to take it away from us. || So, yeah, the government truly keeps it lower to keep people quiet but at the same time even if you try to increase prices on these addictive things, it will cause more protest among them. I think it's like being a poor and having a possibility of little fun at the same time sometimes becomes a comfort zone that people don't want to leave.

That depends on the country. As far as I know there isn't a huge difference between buying grocery things from Amazon vs supermarkets in the USA but if you compare amazon.de prices to Kaufland for example, you'll find tremendous difference. And in Germany Rewe is an only option to buy directly from the store in its original price, most supermarkets don't have delivery or you have to use some 3rd party apps that aren't a great option either.

Btw once I was in one Eastern European city where Bolt Food was a new thing at that time and they had so amazing promotions for more than a month that it was very savvy for me to order absolutely every food and grocery online via their app instead of shopping in local supermarkets. Almost everything was -40% off for a very long time.

Life isn't all about saving and only thinking about investing, you have to be able to balance everything without being too stingy to yourself. Oh hey, I need cigarettes and I need drink, eat and lifestyle - but everything needs balance with income and expenses. It's fine to live simply, but you may never be able to enjoy the fruits of your labor if you are too strict on yourself.

I'm not going to be this strict with myself because basically I'm still thinking about how to enjoy the fruits of my own labor. I'm not sure how strict you are, but I think it would be ridiculous to live so simply when you have money.

People are now doing organic garden - and this is helping them save few bucks.
There are so many things we can do to save some funds. and this is the good practice too. I would try not to go to market for window shopping. I am not going for the minimal approach

Some supermarkets are selling overpriced commodities. You spend more on the same item one could get for less at a corner shop or a thrift shop.
If you earn low, there is no need to act rich by going to the malls, or having expensive launch and dinner dated or breaking the bank to designers whatever to impress people who do not like you.

Use your tongue to count your teeth is a famous saying.

Thrive is the hardest part. I mean if you have a low income then even if you live in a humble area then you can't really thrive there, or maybe your understanding of thrive is different than mine.

I personally believe that if you want to thrive, then you should be making more money than people around you, I used to make as much as x4 more than what people around me made, but these days the inflation caused it to be terrible right now and because of that people are getting a lot more money, even though their purchasing power is similar, or maybe even lower, which caused my x4 to be a lot less, barely x2 these days, not even that much. This is why it's a trouble.

We can always witness these kind of people living in squatter’s area as most of them live their lives poorly but overspend when it comes to gambling and vices addiction. That makes them poorer in the process, instead of looking for jobs and saving for their kids future. But I don’t tend to generalize since a lot are also struggling to sustain from their low paid jobs and do a lot of ways to save so they can sustain living their day to day activities.

It is difficult and challenging to follow those procedures you outlined given the current economic condition. I firmly believe that if you want to improve your life, start by improving yourself. A positive outlook from within can really enable you to go past your difficult circumstances. I believe that your community and government also have a significant impact on our ability to live fulfilling and prosperous lives by creating jobs for those who lack formal education or who dropped out of college.

The unique fact today is that there are many millionaires from areas or places where the majority are poor, if we want business and quick profits then the best thing is to look for areas with a low economy, there are better opportunities than in cities that have to compete with old players and more known to the public, if we think positively then it is no longer wrong to start a business from a place or area with a low economy.

I also live in a third world country where inflation is over 50% and the government have not increased the minimum wage. This has led to high rate of crime and suicide in my country. What me and my family did was to cut down on our expenses. We observed that school fees was eating up most of our finance and if we don't reduce it, we might starve. My partner is a qualified teacher, so we decided to get the necessary approval and started homeschooling the children. And it worked perfectly because the children were able to pass all the standardized examination last year. We also reduced our spending on clothing. We ensured that we bought quality clothing that are durable so that we don't keep spending consistently on wears. Our family also had to move from our neighborhood to a cheaper house somewhere else. We also had to learn to eat locally produced food and reduced our spending on some expensive imported meals. These changes were very painful, but we had to make these sacrifice so that we can survive in this perilous times.     

Showing off is rather deeply embedded in our DNA. It could even be traced to our natural tendency to spread our genes, find a mate, survival, and so on.

Anyway, what's funny is that if you are worth $10k and you would want to appear to be worth $500k, you might end up spending $50k. On the contrary, somebody who is actually worth $500k only needs to spend $1k and he/she would still appear more worth $500k than you are.

When a poor man tries to impress others by wearing original branded and expensive stuff, others will assume those are all imitation. When a rich man wears cheap imitations, others will conclude right away those are all truly original and expensive.

It can be a vicious cycle, actually.
People do not get a job because their vices, since they do not have a job then focus on their vices. There can also be some kind of mental illness or affliction which makes things harder to them.

I generally try not to judge people in those situation because I do not actually know them or know why there are "trapped" in such life style.

That's true. I'm living in a third world country and life here is really difficult if you're not from a middle class or rich family. The minimum wage salary is not enough to sustain the needs of a family of 5 or more, it's already hard to budget due to the increase of almost everything unless other family members are also working.

So to survive, you really need to prioritize the needs before the wants. I think if you already experience hardship, you're already aware of what you should do that can make you become wiser when it comes to managing your money. In addition it is advisable to not rely on your main job because as we always said, having an extra income is much better because this can maximize your earnings. This way you can provide for what your family needs and can somehow save.

Lucky or unlucky, it depends on the point of view, I guess.

Even though cigarettes' costs here are much cheaper, the corresponding percentage to taxes is already quite high: it can reach to 88% of the product's costs, depending the state of the federation. It's considered the good with highest taxation of the country.

Anyway, I suppose the quality of the cigarettes you have access in your country must be superior (composition, ingredients, blend, texture, etc).

Also, despite cigarettes being cheap, there are people who still go for cheaper illegals ones from international smuggling. Can you believe that?

Transport is mainly done through highways by trucks. Diesel costs about 1,30$ per liter. Wages are minimal for most workers involved on the process, that is true. The point is that there are many warehouses being built by different delivery companies in key positions, so they can supply the largest number of cities around in a minimal time frame, with reduced costs. There is also a lot of partnership among different stores, so when looking for a product in a popular shopping website, they will contact an accessible partner who has the product you are looking for and he will execute the order.

Physical stores are more expensive because you pay for the seller's comission who treat you physically in loco.