Topic: What was your lowest point financially? How did you go through it ? - page 4. (Read 1974 times)

Maybe when my father left us, my mom is the only one who raised us from the age of 10 until 20. We lived in a third world country so it is really hard for s single parent to raise two children with only a few bucks salary per day. But we went though, thanks to our mom who is a hardworking one. When I was 20 years old, I started earning Bitcoin and I return the favor to my mom. I started spoiling her, she likes money since we didn't have that much before and that makes her happy whenever I gave him money.

She didn't ask me for it, I just wholeheartedly wants to give her all the good things she deserves because all of what she's done just to raised us.

We cannot feel investment instantly, but when later in the future investment will really help,
anywhere I think family is a priority and that's a good thing,
Preparing for the future takes time and sometimes results are not immediately visible.

It should not be shocking nor surprisingly to you that you were now given preferential treatment when you now have money as to when you didn’t have funds in the bank. It’s just the way of the world we’re living in today. People most times, treat unfairly or look down on poor folks cause they’re poor.
It sucks that our society has been divided by class and treats and regards you on how deep your pockets are. Thankfully not everyone is a slave to money and treats everyone fairly regardless of how much you’ve got.

Two years ago, I had over $100,000 in consumer debt, good credit, and a yearly income of $70,000, but I was also broke and had no one to teach me the value of money. I came across an article online one day that discussed the advantages and disadvantages of bankruptcy. I carefully examined it. Then I realize what I should have done differently. I was lucky to have only consumer debt. That happened two years ago. I used the strategies, paid off my debts, and am now able to save 70% of my income. I've seen what the depths of the financial pit look like, and I'll never return.

we must be ready for everything to happen and we must always have extra funds for expenses and we must always have investments for future because like what you said? your family is your priority and it is fine that we cannot eat but not our children and wife.
stand with your two feet and provide for their future.

The position when you are single and the position when you are married is certainly different and even some people who are married and already have children are no longer a problem if they have to endure hunger for a while to feed their children first and that is actually very common for a father who responsible for raising children in the family.

Everyone doesn't want to go back to the bad past even though at that time they were still single, because everyone who is married will definitely open their mind to earn money and eat in order to build a harmonious family. That's how I see and feel here in my environment now, so don't be surprised if someone who has become a father is willing to work hard as long as he can earn money to feed his children at home.

It could be several things which do not let her to tell anyone or seek help.
She may feel embarrassed about it and does not want anyone to know the full extend of her crisis, the fact she has considered to end her life may be a clue on her physique. I am not a doctor, but sounds like she is mentally unwell.

I assume that even if she could benefit from some charity or social services, she would not apply to them?

Yes, it can be said that married people who have experienced unemployment can say that they can do anything including steal as long as there is enough food on the table for their children. I am a married person, it can be said that not having enough to feed my children is a thousand times worse than when I had nothing to eat when I was single. I never want to think about those scenes again, they really scare me every time I think about it.

It becomes a bad situation, moreover, it concerns our family, it will definitely be hard to go through it all. Not everyone is strong enough to go through it, even my neighbor has experienced something similar and that made him lose his will and decide to end his life. The problem I see from this is, she doesn't want to tell anyone else and decides to keep it to herself so no one directs her on what to do to fix this. This makes me more sensitive, and tell anything to those closest to me about the problems I'm facing, whatever they are. Even though it's sometimes embarrassing, in that way there will be lots of input on what we should do.

My lowest point was probably during 2017, my family was battling against inflation to the point we were struggling to get money to buy food. I had no money.
I recall that there was a time specially traumatic for my mother when she did not have anything for us for dinner so she had to improvise.
Fortunately, things have improved a bit I would not like my mother or anyone in my family to go through any of that ever again.

One simply feel defenseless when the food and medical attention is gone.

well, in my case as I live in Africa where living conditions are not so good and it is normal to have some problems, I remember that at the beginning when I entered this cryptocurrency market I didn't have money in the bank to buy bitcoin so I had to sell my computer and bought bitcoin, but then I also spent years constantly asking my parents for money to buy bitcoin until a few years ago someone lied and stole from us and we had to sell a lot of things, it was a very bad phase of my life because I I saw that people already treated us badly because we were poor, it was shocking because when we had money they treated us very well

This is really the harsh reality that every people just can't admit. People think that they can be the next Elon Musk, Zuck, Gates, Bezos, etc just by following their footsteps and they did not realize on how fucked up the world really is. You could turn Twitter around more than what Musk can do, but you'll never be able to accomplish it if the luck is just against you. Sure, hardwork would pay off sometimes to open opportunities and somehow open luck, but if people would discriminate or hate, they will and there's nothing you can do about it.

Just don't get it why some people do not get it.

My lowest point was for sure in 2015/16. I really thought this could be the end but managed to power through with a bit of depression. I had a good paying job in 2014 and most of 2015. I kept on investing half of what I was earning into bitcoin and that was a lot of money in my terms, usually more than 1.5k USD a month funneled into BTC for over 18 months and then I lost the job and started watching my investment and that was exactly when the bear market was bottoming, but I was a newbie back then, thought only about how much money I had in bitcoin and how little it had become.

I was in deep shit, had maybe 5k in savings, my bitcoin investment was worth less than half of what the money would be had I not bought crypto, I had no job, so I said fuck that I'm not giving up if that's lost I'm starting from 0. I didn't sell and instead focused on renewing my apartment, rented it out and went to live in a summer cabin that my parents had in the woods A year later Bitcoin was worth more than when I started buying, I still had tenants in my apartment and made the cabin into a cozy place to live all year round. That's when the bull market of 2017 came and pulled me out of my financial problems. Never had any since that day.

I have had many low points in my life but the most recent lowest point in my life, happened about some months ago. Honestly, I thought I wasn't going to make but I am glad I came out strong. The company I worked for became a target of oppressive government because they discovered and exposed huge corrupt practices between the board member and some government officials. First, I lost my job and wasn't paid. My accounts were frozen by the government and I had to live from hand to mouth and depended on the goodwill of friends. It was painful that someone who was a provider became a dependent. As luck would have it, I got a new job and things settled for me.

One could have assumed the financial lowest circumstances in life as the moment whereby there's no means to earn a living when there's plenty of responsibilities around, this could be as a result of low income, joblessness, losses from business and other inevitable means to low financial records in life, when income cease from flowing as before, i count this as the lowest staye of financial situation in my life when am unable to pay my bills as the needs arises.

Menh i totally understand what you are saying, i can remember when I was living the single life when i had to think about only my stomach to feed. It was way more easier to cope with especially when you are in country like mine where the unemployment rate is really alarming and the cost of living really high. Feeding a family is like everyday war ground and if you are financially stable it becomes a major issue in your life.
  My lowest financially point i experienced was when my wife was pregnant for me and she was due for delivery(around 8months) but Just as faith programmed that period i was eventually sacked from work and it was like hell for me surviving through that period i had to work myself out everyday just to make sure i meet up with the needs of a pregnant woman and every husband will know how demanding they can get.
  I thought i have seen hell but not until the day of delivery and the doctor called me and told me that the baby had to come out through cs(operation) and that moment i felt like melting because the funds to carry out such process wasn't there and it was something of dier urgency. But luckily i was save by my aunty, she paid for the whole process and even funded me with enough money to care my wife and my new baby. I just pray that i won't experience such times again.

Being single is easy in times of financial difficulties but if you have a family with a kid, bills, and a mortgage to pay it's the lowest point where you are almost going to beg for a job with a higher rate. Family men are the most vulnerable, they might commit crimes so they could put food on thier table.

I was single at that time and I live in a city where no one else to rely on, I end up finding my old schoolmates and asking if I could hang around their shop. Sold my motorbike just so I'll have some funds for my meals.

Sometimes in investment or whether storage of value, it would help to just keep it in one coin and yeah I know and you know it is Bitcoin. Other shitcoins out there aren't worth "diversifying" for and might just yield you hundred percent losses in the end.

Optimism won't help if project devs would just run away with you money. I've been optimistic to some projects back in 2017 up to 2018 until I went all-in to Bitcoin. Sure there are still alternatives like ETH, but I prefer it to Bitcoin.

I feel like this is my lowest point with all my money in investments and the market going down for more than a year now.

I've never been really poor and never had to borrow money from others but as time goes by I kept investing more and more, putting all my money into it and expecting to have enough left to go by but in the recent months the prices of goods went up so much that my bills are 30% higher than a year ago. I'm spending 50% more on food every month and all that with 70% drop in bitcoin, so I'm not doing too good.

The problem with raising goats is that it really takes time before you can sell them, so there are definitely a few months that you don't have income from them. I don't want to go deep into your experience, but let's just make it a motivation to work hard so that we won't be experiencing it again. Work as if there's no tomorrow. I use my past experience as motivation mostly when I feel tired working, as I don't want to go back to those stages of my life.