How To Dig Yourself Out of Poverty
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- เผยแพร่เมื่อ 15 มิ.ย. 2024
- Digging yourself out of poverty requires some hard budgeting choices. At times, poverty means you are already spending more than you can earn even if the things you get are the bare minimum. You will need to find creative ways to cut costs while finding ways to earn more. Since earning at such a low level is hard to survive, this will take extra work to obtain the skills needed to make your efforts worth more. The more skills you obtain, the more valuable you become.
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5% reporting in.
- Below $25k a year in NYC
- Over 6 months expenses saved
- 1.5x that amount invested and growing at 9~12% (index funds)
- Have a roommate. Everything is split down the middle
- No cell phone
- No cable
- No debt
- Walking commute
- Everything cooked at home. $150 or less a month after the split
- Savings rate still sucks. It flops between 13% and 20%
If I were to plop this budget onto a $35k~$45k/yr salary, I'd be way closer buying my freedom from the workforce. But I have trouble comprehending how anyone gets paid that amount, let alone more.
Few skills. No clue how to market them. Low motivation. Lower confidence. Getting older. Browsing job listings in my area makes me want to punch holes in the wall. Personal development keeps me sane.
I hate working. I hate it with a passion.
I really appreciate your response because it helps me understand better and hopefully I can come up with something better in the future.
Remember that manual labor is cheap and an inefficient way to make money. You make money by creating value. The more value you create, the more salary you get. You create more value by doing things other cannot and that's from obtaining more skills.
Your comments really throws a brick into my terrible stab at how to dig oneself out of poverty. You have added the psychological difficulties involved so that is something I don't have an answer to right now but I'll be working on it.
What sort of personal development do you work on and do you have a credit card?
You're too humble. Your advice is sound. A video on the psychology of being poor (vs being rich and entrepreneur vs employee) is a great idea. Go for it.
I have a credit card with a $500 limit. I use it for convenience and an as a layer of protection vs debit. I got it because I'm weary of landlords and employers doing credit checks. Having no credit branded me as an oddball. Being an oddball in a highly competitive area requires one to creatively back it up. I ran out of patience for that.
Agreed on manual labor (and customer service and retail, and anything blue collar). Employers still have a lot more leverage than employees, and automation is creeping into many fields. it's necessary to create one's own value and control the creation. It's a great time to be an entrepreneur and a trying time to be an employee.
I lost faith in my ability to create several years ago. I see work as a bottomless energy drain. I go into the office afraid; I come out defeated. It will take time to unravel that thinking, hence personal development.
I'm studying self actualization for motivation, purpose, overcoming negative emotions (employers...) and positive habit formation. I've branched off into learning how to learn (A Mind for Numbers by Barbara Oakley). Her book showed me that learning is a process rather than a willpower battle.
You are so full of shit
- says all the dumb people
Congrats!
BoldFuturesAcademy: I've been asking myself that question a lot lately. The answers to what my purpose are so far:
1. Create beautiful things -- drawings, writings, thoughts -- and not have to worry about making money off them or gaining approval for them.
2. Restructuring cities so that they encourage people to find their purpose and live their happiness.
This is more possible than we realize. This sounds like dreaming because we're stuck doing things a certain way.and assume that the current way is the only way because it's easier.
if we do anything long enough, it becomes easy; including destructive things.
We put the weight on the individual to make great changes and break destructive habits... Yet we fail to treat our societies the same.
So, my end goal is to lay the groundwork for a society that's free from money and thrives on cooperation rather than competition.
@BeatTheBush - I wouldn't exactly use that particular blanket statement about manual labor. I think the issue that holds back a lot of blue collar workers is a psychological one.
People with motivation, time, and a strong mental state can easily make 6 figures in something like construction pretty much anywhere in the U.S. - whether you have a small contracting company, work in HVAC, plumbing or whatever.
My grandfather was taking home easily $100,000+ after he decided to save up, file business registration paperwork, and quit his job working for someone else.
The biggest problem I think is that if you have landed in a manual labor position, then you are probably more predisposed to lacking the motivation to truly succeed whilst working one of those tough jobs.
you're very humble, practical and wise.. I held a full time job and went to gym for showers and in 6 months had a thick bankroll that makes u feel so good.. independence is such a great feeling..paying no rent for 6 months and saving is better sometimes than living with crazy roommates roommates..
I imagine that might be an interesting experience. But once you get that bankroll as a cushion, you open up a lot of options and it'll actually save you money in the long run.
Brian: I had some pretty bad ones too, my stuff goes missing!
I lock most of my stuff, but I can't lock everything, like shampoo, facewash, groceries (pisses me off, I feel like yelling why don't you get your own stuff)
naysoo ha ha ha. . seriously though, I have been living with roommates for 12 years now, I have lived with vast variety of roomates. current ones ask everything... sugar, potatoes, pasta, milk, banana, utensils, dish scrubber, tomatoes, Hair conditioner, leave in conditioner are few to name, may be she want to try everything I have. ughhhh 😬 so annoying
naysoo trust me I plan my grocery shopping according to their time and schedule (they don't have car, they just graduated last month) but I always ask them if they wanna go with me or if they want me to bring anything for them, they always say they don't need anything,or they have more than enough. I took them for THEIR clothes shopping twice and they both didn't pay $1 parking charges first time & $4 second time, (excuse me, it's my car so I have to pay for parking just free taxi service is not enough) , I still try to help them as much as I can, like I have taken one of my roommate twice , 43 miles to her internship and I did not ask her a penny. and now she is mad cuz I said I don't want to share toilet paper, and I will buy my own seperate (my roomate uses half jumbo roll in sitting, which would last me for 10 days even if I use it to cover seat aswell)
I'm part of the 5%, you give me hope and you have helped me tremendously thank you!
I'm glad! =D
If you are homeless you can go to the library and look up truck driver training paid for buy company. 1 week of school, 2 weeks with a trainer and you have a place to stay and are grossing 1000 a week. Save your money and get back out.
I've been watching your videos for a long time now, and I have to say you've helped me out so much! I'm 24 now and use to be broke all the time. Now I've managed to start a home decor biz and I'm able to save money as well as stay financially responsible.
I'm sure I have nothing to do with you starting the business tho but this sounds awesome! I'm glad you are able to get your finances together. Reducing expenses to a very stable position is really liberating and allows you to try to go for your entrepreneur endeavors more easily.
I wish there was a high school economics class that covered this. It would help so many people, and you'd be a great teacher!
That's what this TH-cam channel is for. =D Several teachers have contacted me letting me know they shared my channel with their students. So it is reaching younger people.
WishAtElevenEleven home economics classes were actually removed from most school curriculums. I had 1 class in early 90s high school. Totally shocked when asking my nieces & nephew that they were not taught Home Economics 😱
I am a teacher doing that :D
absolutely love your videos. You explain things really well
=D Thanks! =D
Me too!
Guru yep
keep Americans frugal, dude...we have too many people living well above their means....not good, materialistic buying crap.
I think his calling is to teach.
The poverty line needs to be moved. The cost of living has gone up. The average rent is $600 to $700 for a low end apartment and that is just in my area... ...other areas are much higher. Then you have utilities, food, insurance and more. I would say $25k a year is poverty, but that is my opinion.
I don't think the poverty level is meant for, "One person to live on their own" like BtB said, get a roommate, ect. also, there is no way a "federal poverty level" can ever be accurate because it varies widely from place to place.
Rather than worrying about raising the wages on the poverty level, why not work to be above the poverty level? If you raise the poverty line, those people will still be poor, but tax dollars will be wasted trying to 'save them' from poverty.
Poverty is mostly a mindset issue. If you take everything away from a tenacious person that was a millionaire, they'll find a way to succeed again. If you give a million dollars to a person with poor habits, they'll be broke again (and likely in more debt). This is why most lottery winners end up bankrupt.
Arp I agree
SeanFromPVD yes the rich has education, family that’s helps them out ( not money wise but with experience how to balance ck book or buying a home) the poor person doesn’t An worry about food so there looking for how to make quick money
Great video! I also wanted to add that, a lot of people in poverty are on government assistance. It creates complacency and some are afraid to work because they would lose the assistance.
I now realize how little I know about this and well... it was worth a try.
Even though people are on assistance you methods do work. I have been studying your videos.
This is false. Many states require people on assistance to have a job. The idea of freeloaders is so wrong.
You are like the Warren Buffet of the low class to us LOL
Wow thanks! I do like his investing style. =D
THE MILLIONAIRE MILLENNIAL 🤣🤣🤣
This cracks me up!
ha ha ha :D
THE MILLIONAIRE MILLENNIAL lol , so true. He's great!
I was living on credit cards once, it took me to a chapter 13. now I learned my lesson.
Oh man. Sort of like run away debt where it balloons faster than you can pay.
Don't be so hard on yourself.....it's the new America.
Ohh sorry to hear that! I'm in the middle of paying off my card right now :/ sucks so much.
There are low cost sites like udemy and Lynda that offer low cost courses for people trying to learn new job skills. I love your advise on cooking at home. This is why many people are broke. They tend to eat out too regularly or burn too much gas for their cars. I suggest a person in proverty look into renting a room or buying a cheap mobile home and eliminate cable, and a car expense if possible and save the rest.
Seems like TH-cam offers a lot of new job skill info already. I feel accreditation is important for a job since that's what gets you in the door.
Many poor people are on housing, and they are not allowed to rent out any rooms, or they lose their housing.
It would probably take at least $5,000-10,000 down to buy a mobile home. Who has the money??
I know that the focus of this video is more on practical hands-on methods, but I think that it's important also to acknowledge how you must change your mindset from one of scarcity to abundance if you want to overcome poverty and STAY on the other side for the long term. I have never been in "real" poverty, although I've been pretty close during my childhood. I realized that I never noticed how little we actually had in comparison to others around us until I became a young adult, because my parents never allowed it to enter my mind that we were lacking in any way. If they couldn't afford a toy or something I wanted, it was "you don't need it" not "we can't afford it".
Then I became an adult and got fully sucked into the "keeping up with the Jones' " game that's taken me damn near 5 years to finally start consciously rejecting lol. In my early 20s, I went through a prolonged period of self-imposed perpetual brokeness because I was a dumb young 20-something year old who had no idea how to manage her finances. I was so used to barely staying above zero before making it to the next paycheck that even though I had the means to save a little, I just couldn't get it out of my mind that the minute I got some money, at least 99% of it had to go somewhere -- whether it be bills, rent, or frivolous spending. Even if my bills were already paid and I didn't even particularly want anything, I would almost subconsciously go find a reason to spend whatever was left in my account because it just didn't feel "right" to me that I had money just sitting there doing "nothing".
Anyway sorry for the long post! Just thought it was worth mentioning because in my case at least, it took me a long time to realize that this is what was actually going on psychologically in my mind. Hopefully someone in the same situation I was in just 2 years ago will see this and can act now instead of wasting their time like me.
I'm in that 5% 😧😣😩 I'm trying to dig myself out.
Best of luck! I'm homeless in order to save for a down payment on a house. This economy is crazy for the working class. smh
Me to boo
Don’t give up sister keep striving
I’m curious as to how you are now
2023 is a complete dystopia
How to Dig Yourself Out of Poverty:
1. Be fortunate enough to have some skills, education and live in a civilized country.
2. Be young.
3. Stop being a drug addict / alcoholic.
4. Stop being sick (including mental issues).
Then you can take advice from a young Sillicon Valley dude about how to save money on cheese.
You sometimes have to make do and do the best you can with what you are given.
Hey there. This is my first time watching your channel. I'd like to offer some feedback. I really appreciate your knowledge and heart behind this. I am living out of a vehicle right now. I have been on and off for almost three years. I am active with the homeless community as a volunteer and servant. Poverty is very complex. It is extremely difficult for someone who has not had experience of it to empathize and offer really sound advice. I would wish a taste of the experience on some people, not out of cruel intention, but to better serve others going through it. I cannot fully empathize with people who live on concrete. I want to share some of my experience constructively to enhance your perspective and journey through this TH-cam channel, without you having to experience this.
1) Many people on the streets have demons they live with beyond poor financial education. There are many extremely poor people that I see have extremely good financial knowledge and practice. There are many factors that keep people down. If you have a felony, it is very difficult to have any application accepted. Death of a loved one. Loss of parental rights. Health issues get worse and make it difficult to get on your feet. Addiction compounds all of these. When you hit a certain declared income level, debt collectors start taking interest. One of the biggest patterns I see to financial wellness is if your family historically has done well. If you come from poverty, it makes it more difficult to advance.
2) I am satisfied in my situation. I don't really want an apartment because with that I would have to focus my energy on upkeep, furnishing, rent. I enjoy looking out for others and serving my community. Poverty umbrellas a victim script. Many people have had horrific trauma and are victims. I've met people who have been liberated from stressful 9-5 lives with something terrible like their house burning down. It's not common for me to find homeless people who need a savior to better their situation. The most powerful tool I have found is to listen to peoples' stories.
3) You are on a very good path. You know a lot about financial empowerment and have a very good heart. If you live near a major city, here is my recommendation: Make a couple of really nice home cooked meals. Go downtown with a smart phone camera. Find some people down on their luck. Offer a free meal in exchange for story sharing or an interview. Some people panhandle for lesser intentions. Look for authenticity more than anything. Ask about their financial habits as someone who makes youtube videos on financial education. I think it could be some really wonderful content.
Best of luck,
Benjamin
you're a good dude
=D
Your channel really is something special. Thanks so much for your wisdom and compassion. 🙏🏽✨
Let me go ahead and thank you in advance.... my friend for being so consistent and creative with these videos.
much appreciated from Vegas...
You're welcome! =D It's my pleasure really.
Go to libraries for internet, entertainment, and learning
Good point. But how many people do you see doing that? Most library books also do not teach real life skills but are rather more book smart skills.
BeatTheBush Some libraries have a good selection of magazines and recent books., but ok, 2 out of 3 at worst.
Your guess is as good as mine. I haven't stepped foot in one for a long time because they are so out of the way for me.
BallawdeQuincewold yup I use to do the same thing
This is a really good suggestion for families struggling to make ends meet. Kids need to be entertained and that can be hella expensive. Public libraries offer tons of free programs for kids and teens and even adults. Ours have free movie nights, free reading incentive programs with prizes for participants, and even free night out programs where you can drop your kids off for four hours for free while parents get a much needed break. Libraries offer free current movie rentals, and even free video game rentals along with tons of free lectures about anything from cooking, health and wellness, finance, college preparation, you name it. Libraries have come a long way from just checking out a few books. Granted I live in the wealthiest county in the US, but we have plenty of families that really struggle because the cost of living here is also so inflated. Our County even offered free breakfast and lunch for all children under 18 at about 10 public libraries and schools no questions asked. Just show up and you could get a meal. This is because we have many families dependent on the free lunch program during school that there was concern that in the summer months those children would not have proper meals.
great information as always! you have some of the best content on TH-cam regarding finances, and it's actually free. subscribed and can't wait for more content!
Great video, I love watching them! I originally found your channel after wanting to raise my credit score. So far, no change in the score but it takes time. Keep up the work!
I'm glad I'm able to entertain you! =D Yeah, the change takes a long time. But the boost method works in less than a month but temporary.
Absolutely love your videos and your tips. Sometimes we do not realise how much we think of as needs vs wants. Thanks for sharing your wisdom.
Wants is too often confused with needs. More often a person do not know how to get themselves off of needing a certain thing since they are so accustomed to the item or service.
you're very kind hearted
=D Only those who are ambitious enough to help themselves will be able to do this.
Are you a Econ major in college? Your video feels like the lecture from my econ professor, making a lot of sense. I'm a college sophomore and already preparing for these things. So good to have you here.
I'm not. I was an engineering major. I did take some econ classes before and I'm a finance super enthusiast as that is what pays the bills.
Hi Beat the Bush!.. thank you for the great videos!.
I absolutely lived at a campsite for 3 weeks because we had a gap between an apartment sublease and dorms opening up again. Fortunately, there was a shower at the campground and work was only 7 minutes away.
Wow... that must be interesting and DO-able. =D
This is SUPER HELPFUL instant subscribe
You’re a Blessing.Thank you.
You always have good and helpful information.
=D Thanks!
I am so grateful to be a subscriber
I'm grateful to have you as a sub! Thanks! =D
Another great video, love your channel!!!
Thank you! =D
I am really appreciating your videos! Cheers from Brazil! 👍👍👍
Thanks! Cheers! =D
Skill is where it's at. Education is the ultimate way out of poverty. Certainly not the only way but a great way
That or entrepreneurship but then that's probably harder than education.
A friend always says, "don't let school get in the way of your education."
Many of the most financially successful people learn their trade by self education.
Great video Beat
=D
Great job ! Thanks for taking the time to talk about all this ^_^
No prob! I'm getting a lot of good feed back for a better future follow up vid.
Thank you brother..it really helps.
Awesome Video with Great information. Thank you for All your videos you post 👌
You're welcome! =D
thank you so much
Great video I Love the analogy with the burger.
=D Thank you!
I love this information! Especially the part about never eating out and fast food places and what it costs you later in medical.
It really does and you see this in hospitals all over the place. Diabetes? All that sugar even in the hamburger buns? Crazy.
I really enjoy these videos
I really enjoyed these videos....keep it up
Thanks! Will do. =D
I love your videos. You do these types of videos very well.
Thank you! =D
Great video! I haven't commented on youtube in over 7 years. I'm making 30,000 a year with no kids and a roommate and still fell like I'm living in poverty. Recently started saving, working on my credit, and trying to change my way of thinking regarding finance. Your vids are helping a lot. Thanks for sharing.
Wow, I really appreciate this first comment. =D Yeah with $30k and living with a roommate, you should be able to save $5-10k a year while living a comfortable lifestyle with spending $15k a year. It's all about replacing things with something lower cost but equivalent and buying durable things instead of one time use things, etc.
Broad spectrum of well-executed very insightful videos. One of my favorite TH-cam channels. Nice job Sir. Thanks for sharing.
Thank you! Very much appreciate you comment! =D
I really love your approach to how you go about your videos. They are very practical. I am right around the poverty level, and am working to start a small business. I can't do room mates. I'm an empath, which means I absorb others energies, and moods very quickly without wanting to. I'd love ideas. I wasvthinkin of moving into an RV and running my business that way, on top of 2-4 side jobs I can run myself so I can travel, and do it that way. But poverty is hard to beat. I went to 3 colleges too! So a degree doesn't help much these days. And you're right, skills is where its at.
I am learning soooo much from your videos 🙏🏾🙏🏾thank you!
You're welcome! =D
Great video! No filters, no excuses! 👏🏻👏🏻👏🏻
=D You have to do what you have to do.
thanks for the information
=D
Great tips
I very much appreciate you imparting your wisdom upon us!
You're very welcome! =D
some good tips for people who like to eat out, find an all you can eat that allows you to take home leftovers. Mongolian Grill is the best value if you plan to go out to eat. dont forget to fill your bowl to the sky and take home 3 days worth of leftovers for around 10 dollars.
Not bad. I suppose you could load it up with the hjghest value items per volume and make a run for your money there. I suppose you might not care about the stares if you're trying to make ends meet.
Good advice delivered without patronising anyone, thanks for the video!
I'm glad you think so. =D
I cut my cable to basic; just to watch the news; I used to enjoy basketball game and nfl but I've been without it for 2 weeks ; and I have to say it's not that painful; I do catch some highlights through youtube. and movies I still am subscribe to Netflix ; I am starting to read more now too and spend time to actually more exercise. been doing push ups and run in my neighborhood; cancelled my gym membership. so your channel helped me changing my life a little bit. so thank you.
I'm glad! These little changes really adds up a lot. Before you know it, you'll be saving huge sums. =D
Great Insights
Realism versus idealism.
Love the channel bro.
Thank you! =D
very motivating thanks a ton 👍
You're welcome!
You are awesome...GOD BLESS YOU FOR SHARING!!!
No prob! Gladly! =D
thank u so much
I just love your videos.
=D Thank you.
you're welcome
I also love all the videos he shares with us.
your channel is the best channel i come across on youtube..pls give us more value instead of salena gomez
Like BeatTheBush, I've never been in this extreme situation, but I've visited a lot of people who do live this way, especially immigrants of every nationality. I agree that getting multiple roommates is often the only way to make it. It's more than just lowering the cost of housing:
1. you can buy in bulk by pooling your money together. Not just food, but your TV costs, transportation (you might be able to carpool or share a monthly pass for public transportation), and durable goods like vacuums.
2. the household is often better off by having someone as the housekeeper/cook. This person can easily save you more money than they would contribute if they were working
3. Provides ready-made entertainment. Talk to one another, do things together, support each other
4. Similar to 1, you also share risks. For example, if your house needs repair, you can share in the cost of fixing it. Hopefully, you can also share skills and labor, too
There are a lot of negatives, too, of course. Otherwise, everybody would live this way. But it's definitely cost-effective as long as you can trust the other people you live with.
Pooling together does indeed lower costs greatly. If we live space efficiently, we really do not need that much space. It could be something temporary to saving enough for emergency savings as having that alone will save you a lot.
dang, these og vid ideas. this was so surprising when i watched it the first time. its interesting how there is kind of like this self fulfilling prophecy. there is a french saying that translates to "where there is a will there is a way", except I like the blunt french version literally translates to "to want to, is to be able to". like some off the cuff asian dad logic wrapped up in criticism lol.
its interesting how mathematically stuff like dave ramsey's debt snowball is almost always a less efficient way to get out of debt, and will take longer than others, but ironically is successful because of how emotional we are with money and spending. I miss these money philosophy vids of yours. hope you have a happy new year
You’re quickly becoming one of my favorite TH-camrs! You’re wise beyond your years.
I am in the 5% and trying to dig my way out. I’ve had multiple spinal surgeries and on disability
Elsewhere people have no money to pay for surgeries. They have to wait for the charity kind of treatment that is free. Again it is up to the rich to organize this sort of charities.
Awesome. You're amazing! Thank you for sharing. I bet you're parents are so proud. You should be very proud of your self! Way to go.👍🏼🍎
Seems like a better example could be made though. My first try at elast.
Maybe I'm missing something, but this advice is suited for a poor person who does not have dependents, or a student...It is useful, but only for a certain demographic. If you have children/spouse- or aging parents, it would be pretty hard, nay, impossible to pull off.
Although the "live in a car" advice made me laugh--I've read about a woman who used the parking lot of a local Wallmart for about a year as her residence. She lived in her car, moved the car around pretty often during the day (not to get caught), and searched for jobs. A year later she landed a job, saved enough money for renting, and off she went :).
As usually, thank you for the video, it was awesome!
I agree, any sort of extra baggage in terms of dependents, medical requirements, or credit card payment servicing will make that digging out of poverty that much harder. The deeper you are the hard it is of course. I assume there could be a point where you are in so deep, there is just no way out. However, I'd like to think there is always a way out for a person willing to work hard , clear thinking, and has the ambition to learn.
First vid that I gave u thumbs up. Big improvement. Thanks
Lol, thanks !=D
Your videos are excellent! I had credit card debt several years ago and it took some time to get them paid off and now I am debt free and able to save money.
yu are so helpful...thank you..
Love you Beat the Bush, thanks for the videos
You're welcome! =D
thank you so much for this video! You are awesome.
You're welcome!
im not even joking this is basically 1 year of my studies on living on a low budget into one single 12 min video!!!! awesome!i aways loved the art of war and surviving so having a strategy for a situation that anyone can go in is just satisfying to me !!!! im planning to teach allot of people that have low income those things and don't ask for return :)!thank you so much it was a great interesting video!
You're welcome!
I rarely ever subscribe to any yt channels...you got 1 more subscriber.Very gut content..
People in dire circumstances should also consider community resources such as food banks or church pantries. Also, some organizations will assist people with utility shut off notices. Also, it's important to consider what absolutely must be paid (rent, vehicle) and what can be paid later without credit dings.
That's a good point. Even food banks would have unhealthy foods but it keeps people fed. It's okay to do for short duration but really important to get off of the unhealthy food long term.
That isn't necessarily true. Food banks give out whatever gets donated to them and as people have become more health-conscious, they donate better foods. The one in my area makes a good effort to give people healthy choices - asking people if they would prefer white or whole-grain, for example, and have a list of suggested healthy foods to donate. If you're in a tough spot, using available community resources for awhile can allow you to take a breath and use what you would otherwise spend on those things to begin paying off a debt or buy a bus pass to get to work.
New subscriber! I love your videos so far. I haven't looked through all your videos so sorry if you already have a video on it, but what do you think about filing bankruptcy? I would love to see a video on that.
I don't have one on that as I've never even been close to bankruptcy. I assume it would be good as a last resort but generally to be avoided even at great cost.
Best place to go when you're broke is to work.
I guess that makes it so you don't spend but some people work two or three jobs and are still broke.
then I hope they watch your other videos about spending and try to learn a skill they can put to work
I really like how you added how fast food costs you money in the long run! A lot of people think eating fast food is the cheapest route but you can meal plan and make simple low cost meals! Thanks for this video.
Sometimes, eating fast food is the only route because it's fast and cheap. All the more you have to try to learn how to get the fresh food and cook it quickly though.
Your the best BTB, love your smile, it makes me smile :)
Does it? =D =D
omg thank you
I appreciate that you acknowledge how difficult it is to be poor and the lack of options and the hamster wheel cycle of being trapped in poverty. I do feel that some of your suggestions were a bit unrealistic or not fleshed out enough to seem practical. I'd be interested to see some actual examples of folks who have used some of these ideas, to get a better sense of how it plays out in reality. I also appreciate your desire to have a conversation about this, even with individuals, and knock ideas around.
People are often stuck in a position where they are spending every penny they have or more to even survive. Sometimes the hole is so deep that it'll take an extreme effort to get out of. I.e. if you had kids and are dependents and working 3 low wage jobs with not extra time for self improvement. In that case, how is it possible? That is a pretty big question I don't really know how to answer.
People who are in good health thank you for your suggestions...really, they should.
=D You're welcome. =D
Subscribed!
Thanks!
Thank you ! really good information. This is what I need to practice. I have been a single mom of four and It has always been hard making ends meet and try to save at the same time. Now that my children are more independent, I finally get a chance to practice some of the advice given on Beat The Bush. However my will power must be strengthened. Thanks for getting me started.
Initial part of getting more income is indeed hard as you have to start making more and saving more. When you are working 2 jobs or 3, you have no time for this but as you save more, it does get easier because you are spending less on financing.
You are a very compassionate
I live below the poverty rate. 12K a year. I have a fixed income. No job but my bills are low. I save by keeping my bills low. I dont flush when i pee. It goes like rhis. When it is yellow let it mellow. When it is brown let it drown. Most times i dont use the light when i use the bathroom. I just leave the door open....i keep my heater at 67 degrees in the winter time n in the summer i keep it at 80. I use a grocery list n when i find sales i use my food saver to freeze meat n others things from getting freezer burned....im very tight when it comes to my budget but it works 4 me....😊😊😊
For credit cards, IF you're going to use them I would really suggest to:
1. Never use credit cards for things that are only "wants", Always use credit cards for things like:groceries, bills, gas, only necessities of living.
2. Save your entire monthly income and pay off the amount on the credit card in its entirety. Having a credit card should never be to buy items that you know you can't afford, and it should never be for topping them off and paying monthly minimums with high interests.
Really depends on your spending habits. For those that have no self control, please just stay far away from credit cards.
Very true
Credits cards are not always bad to get you out of the hole. The issue is it is very difficult to obtain good deals on credit cards if you are in poverty, assuming your credit is not good. If you were able to obtain a "cash back" card, it is best to use it every chance you get, assuming you would have used cash or your check card anyhow. The cash or check card money that you didn't use, must go towards paying off the credit card balance (monthly or bi-weekly) that you just ran up. This principle is how you can make credit card companies pay you monthly. If every one did this, you would likely start seeing cash back programs drop dead because the credit card companies would be losing a ton of money. The credit card companies know that 90% of folks are not that disciplined and they can make zillions of dollars off of interest charges. That is why they are able to offer such wonderful deals and be successful "debt" dealers, similar to drug dealers.
BeatTheBush you are doing such a wonderful job schooling us, I do appreciate your knowledge and efforts in helping us, I need major help on a Deferred Compensation, IRA question, do you have an email or is there anyway I can send my question privately.
There is an email in my about page you can use.
you should get paid to make these videos, so helpful, I'm not in poverty but find the info you provide so useful
LOVE YOUR VIDEOS KEEP EM COMING! LOL
Will do! =D
2nd of your videos, you're amazing. Subscribing.
Thanks! Hope you can get some value out of them. =D
:) You're just a good guy. Thanks.
Getting a roommate or even making a private entrance into the house if it is owned by you, can offer some creative options to those who hesitate opening their home to someone else. Picking a good match for a roommate is important. Too many people who try this do not choose wisely. Staying with someone of the same sex/age bracket is best, I think. Coverting a garage into living space is another option for the DIY handyperson who can put up drywall and do some elementary plumbing. Watch the zoning though, as neighbors love to complain. Learning where to shop for sales for food is important, and learning ways to be frugal is crucial. Thank you for this video. I hope to see more of them on your channel, because people are getting desperate as prices go up on everything.
Learning on new ways to be frugal is indeed critical. Trying new ways to be frugal on for size and possibly getting used to it. If it doesn't fit or too hard then you can always go back. Often times, you'll realize is not so bad when you substitute in equivalent products while staying away from things that harm your health in the long term.
☆☆☆☆☆ GREAT VIDEO! LOVE THE DETAILS !
=D
I’ve been enjoying your channel to this point, but I don’t think you have any idea how insulting it is to listen to someone who readily admits they have no experience with real poverty, giving advice that they have never followed on how to get out of it.
I lived below the poverty line for several years, but I don’t even feel like I have the right to speak about getting out of poverty from a position of experience because I had family I could have gone to in true emergencies and I came from a highly educated family. The majority of people living in true poverty have so many variable that prevent them from following the analytical advice you laid out.
I appreciate your good intentions, but taking a moment to acknowledge those realities and address them directly, instead of saying, “oh, here are some things I guess would make this hard,” makes a lot of difference. When I heard you say, “live in your car” and then “cook all your own food,” without acknowledging that these two things are completely incompatible, it was pretty obvious that you hadn’t really thought this through as a cohesive plan. You’ve provided a lot of one off ideas to combat isolated problems, but that do not work together.
I don’t mean to be unkind, but this is a topic that, when treated glibly, only contributes to the idea that poor people are poor because they don’t have the initiative or intelligence or work ethic to get out of poverty. Did I get out? Yes, but I didn’t start from the point of the generationally poor. I didn’t grow up poor, having to make my education secondary to taking care of siblings so my parents could work multiple jobs and/or working myself to help pay my family’s bills. I didn’t have to care for children or siblings or elderly parents while I was working, going to school, and digging myself out. I appreciate these distinctions, and maybe you do too, but the tone of your video suggests that getting out of poverty can be approached as an equation, similar to your early retirement plan videos and it is just not that simple or dispassionate an issue.
This guy is a genius and so on point
I've always wanted to see someone go from homeless to owning a house... in fact feel like giving everything away and trying it myself. Maybe an idea for a TH-cam series?
Someone's strange way of challenging themselves. But it's not a fair start because said person could have been privileged and have some core skills already part of them. This skill is value so they can just turn around, get a job and poof, cash positive and has a place to live immediately.
yeh it is kinda strange haha... there would have to be some kind of handicap in place such as doing it in a foreign country or something
Joshua Miller there is a book called scratch beginnings where a guy did just that took a bus to a new city when right to a homeless shelter and worked his way to prosperity. I think he went to college but didn't use it as stepping stone albeit he did have that mental capacity to put to work. He had some goals/timeline that he ended up beating like getting a truck and apt and amount of $savings.
I say no fair because of his mental capacity even if he's not using his degree. Was the point that a poor person could climb up really easily if they try? Or perhaps that HE could do it.
its been awhile since I read the book but I think he took construction and janitorial jobs. I wouldn't say it is unfair, what if someone was unable to go to college (funding or had to take care of family etc) but still had natural common sense and a great work ethic.
Jeremy from Jersey just subscribed
thanks
=D
I realize I have bought the major pieces of furniture in my house at thrift shoppes ie $900 armoire I paid $87.00 also, I would love to see more videos on this topic. I love listening to u. Your voice is soothing while talking about finances which could stress a lot of people. Also, I always said I would not have children unless I was financially and emotionally stable at the same time. Single parenting also does not interest me.
Huh... I totally did not realize that, thanks for your input. So you are requesting how to spend on furniture?
Indeed.(on your voice)and interested in topics on leaving the status of poverty. I am in a unique situation that I don't want to share in public but lets just say it benefits me to hear your ideas from poverty--getting out of it to your strategizing future wealth.
@@BeatTheBushI bought an arm chair in very good condition from a thrift shop for the grand sum of $40
you are addressing clinical major depressive disorder. Thank you