Topic: How to thrive with low income in a humble area - page 8. (Read 1076 times)

When people start in personal finance or try to increase their wealth, the first thing they think about is saving. Then when they have some savings they think about investing, and the last step I see is to increase their income, which I would say is the one that gives the most results. When you are used to controlling expenses, saving and investing, finding ways to earn more makes you able to save more, invest more and spend more. Even in my case I introduced regular donations, which has not slowed down my progress, on the contrary.

The point is to get off your ass. If you live in a poor area with low income try to increase your income or even consider moving to another place where there are more opportunities.

But don't forget that nowadays with the internet you can earn a lot of money no matter where you live.

That was great tips and i am already using it in our daily lives except for occasional beers to celebrate small wins. I've also noticed about the lottery since mostly I've known they are spending like a dollar a day to try their luck. I'm not sure if this is wrong, but I find it costing you big by the end of the week since you'll be spending 1 dollar per day until you win, but what if you don't win? You lose money, right? It just came to me as I checked our budget and found out we spend money on the lottery.

* Don't forget to spend only a teeny tiny of money on wants, and only buy wants when you have a budget oversupply. Needs first — always.

* Increase your income. Saving can do so much.

I just want to add something as my experience told me, and that is to be with those people that also do same way as what you all mentioned , Meaning be with others that knows their finances to keep better and live a reasonable life.

being in Humble area cannot hinder us from having a best life but this will take Time, Effort and dedication because if one of those will not there then for sure you will live forever as how you have now.

As someone who has seen people living on the line of poverty before, I can tell you that this step is extremely tricky.
I am talking about people whose one of the few escapes from reality they had was smoking, drinking or gambling, most of the time as a social activity to relieve their struggles. They do not even bother to count how much money they spend on beer or cigarettes, by the way.

I recall certain case of this man who used to smoke so much that if he stopped smoking for a day he started to feel sick, flu-like symptoms.

One of the biggest difficults in life is to manage growing your patrimony and income, when earning minimum wage and living in poor areas where opportunities are scarce, as is the money circulating in the local economy. Some hints that could be useful:

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Get rid of addictions/habits: addictions or habits (in mild cases) are harmful not only for your health, but also for your finances. Cigarettes and alcohol are responsible for consuming a large portion of the income from individuals living on minimum wage. It's not that unsual to find people spending at least 1$ on cigarettes daily, what after 1 month will result in 30$ expenses, which could be going into bitcoin investment, for an example.

Choose carefully where you go shopping: some supermarkets are more expensive than others. Shopping on physical stores is more expensive than shopping online. Don't go for the first price you see on the labels. Search for promotions, try to adequate your demand for products to your currently financial budget in a way you don't spend all your money in the end of the month.

The impression which matters is the one you have about yourself: forget about boasting yourself to friends and suitors around. Live a realistic life and don't pretend to have a superior lifestyle in order to make people's eyes shine in front of you. There is nothing wrong in displaying some style, it's actually pretty good and satisfactory, but only when we can really afford it.

Doesn't matter how depressing is your day, never give up: everyone has their depressing days, but these days can't become a rule in someone's life. Don't feel pitty of yourself, don't blame your life and your currently conditions. Think it's just temporary and that an exit from this situation is reachable with good will, effort, hard work and a positive attitude with people around you. Sometimes opportunities come from where you least expected, so be receptive to the society in general, while being careful with potential abusers of every kinds.

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Step by step you are going to improve your financial status, be patient and determined. Good luck!