I work as a doctor in a rural health clinic. Working closely with an underserved population. This is such an honest look at predatory business practices. I truly admire 2 cents for approaching this topic.
Thank you for your work. Sadly lots of doctors completely abandon rural areas for higher pay and access to more amenities, ending up in big cities. It's becoming a real problem.
I work as a tax collector in a poor area of a major city. There are many thought traps to which people in poverty fall victim. Thing they mentioned about convenience stores is absolutely true. Predatory lending with regard to payday loans or instant cash loans in pawn shops is also true. But what about tattoos? Some tattoo shops advertise that financing is available. I honestly can't think of a worse financial/life decision to make. Not only do these people want to eliminate their opportunities for well-compensated employment by getting tattoos (in many cases) in places where they're not concealable, but they want to pay high interest over time on something they don't actually need? Also, what about the health risks? At what point do you say it's their fault for making bad decisions?
I would agree that the title loans and the cash advance loans are definitely predatory, the credit card system and the banks not so much. It is less about being predatory and more about security. Security in the sense of how sure they can be that you will pay them back or not go below $0. A checking account is not a credit line. I do agree that overdraft fees have gotten to be a bit extreme, but they are meant to be a punishment that incentivizees proper use of the account. The bank that issues the credit card has to believe that there will be a likelihood of the debt being paid back. If they gave the higher APRs to those with top level credit those people wouldn't bank with them at all. The only credit cards that I would call predatory would be the ones that require a pay in at the beginning and carry an annual fee and interest rates above 25%.
Wish more people would understand this. When I was growing up, we were so poor I was malnourished and we regularly had to choose between food, a utility bill or a loan payment, so I hate it when I see people who have never struggled say things like "Just stop being poor" or "Poor people only have themselves to blame". Unbelievable.
I used to have to live like this, and let me tell you, it's hard to escape poverty. When I did, It took me at least two years to recover financially. It sucks
Everything costs more, so I ask for a raise, but then companies raise prices to cover their costs, and here we go again!Feels like a hamster wheel, going nowhere fast.
Knowledge is power. Research your industry's average salary and be prepared to negotiate for a raise that reflects the rising cost of living. Strong data makes a strong case. Personally I gave up on the raise and started chasing supplementary income via bond dividends and stocks.
Inflation has turned the stock market into a terrifying ride. So I hired a fiduciary to be my investment compass. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.
Two Cents I feel like every high schooler should watch your videos! You guys truly talk about finance and the how the big world works. Sadly to say, high school doesn’t even bother teaching the kids the important things.
Thank your for this video. Someone who I work for claims that poor people would not be poor if they only “worked harder”, I wish they could see this video and maybe, just maybe they could see the world through a different lens.
@@Cochise954. Just do what we do at our school. We teach our students these sort of things during our tutor classes. Short videos like this is perfect to get a class discussion going.
It made me think I'm in the wrong line of business. 806% ROI? Fucking hell. That's what I make, but without even a fraction of the hard work. I need to open up some -loan shark- cash-checking places. I'll put a bullet proof glass and a Mossberg 930 in each one, knowing what kinds of neighborhoods we're talking about.
When I was a kid growing up poor, it seemed like my family was the only poor one in the city. Now that I'm an adult, I realize how many people were actually just living "for show"...
Yeah there's alot of people in nice suburban homes, but in reality many of them are constantly struggling and have 90,000 or 120,000 in mortgages. That's poverty in the US. Modern day slavery.
@@Victor-tl4dk They are called “House poor”. Payments on the house take all their money plus property taxes, insurance and maintenance. A leaky roof is a major catastrophe because they have no extra money to fix it. If it goes unfixed it can cause more damage and lower the value of their home. Plus it could cause your house insurance to be canceled. People believe they own their homes. But try not paying property taxes. The city will foreclose on your home and sell it to recover their unpaid taxes. So did you really own it if someone can take it away?
@@garyfrancis6193 nope, I find property tax very hypocritical. But they do need money to maintain the surrounding lights, sewers, and streets, fire dept., etc. Imagine 40 homes in a neighborhood, but no one to tax. Then those people are leeching off the city. I think property taxes should be as completely limited as possible of they exist. They frustrate me.
@@garyfrancis6193 yes correct it is commonly know that a house is not an asset unless you are generating cash inflows if you have cash outflows from said house then the house they think they "own" is a liability not an asset.
My parents opened a credit union account for me when I was 8 years old, encouraged me to get a job as soon as I could (age 16) & wouldn't let me get a loan for my first car. I had to pay in full (even working minimum wage part-time it only took about a year to save $4,000 for a reliable used sedan since I was just a teen living at home with no real expenses). I left home with a used car that I fully owned & a bank account. I'm 27 now with a little family of my own. I've struggled at times but I always had a debit card & a car to get to the cheapest stores. I now realize those two things were the best things my parents did for me.
Have you started investing yet? Get a tax-free investment account going for your kid and teach them to put in 50/week in index stocks. They'll have quite a bit after they're 18.
I have a young friend who just turned 20, lives with her parents, and saves pretty much all of what she makes. Some might say she is spoiled, but I'm proud of her determination to save, and her parents' forsight to help her build a good foundation before she leaves the nest. We didn't all get that, but that is how it should be.
They sure don’t. Especially when they say ‘live within your means’ it’s not that simple and it’s easier to get set back. They think canceling Hulu means all their money problems are over. This video hit a good point on the time is money part. Can never get my friend to realize how a car is helpful and saves time.
@Johnny Guillotine Thought of starting a non-profit? That way you can do more than 2 people a year and not hurt your family. Maybe even fine another person who can help with the workload to help even more.
Hadn't Jesus already taught that in the parable of talents? Haves will have more, Havenots lose the little they have. If you ask how can you lose the little you have when you already have nothing to lose, well, the little you have is either borrowed or stolen. You have that little, but you don't own it.
True words ...i tend to get frustrated a lot with my mom and dad because they keep putting this excuse "this is all we can do , it's not our fault we are poor" but at the same time they don't keep any budget plan , they just throw money all ways . They have a huge debt to the bank and they literally don't know for how many years ahead they're going to pay , i even asked them about this and they always get defensive . i'm currently 18 and pray to God that i will do things differently , i'm tired of living like this .
It affect mood, health, crime, etc. So sad that the richest country could let this happen. Did you know Amazon paid no federal tax? While they want to cut food stamps. Wow so heartless.
I lived in a Motel for a year and waisted $25,000 because I wasn't making 3x the rent to get approved for an apartment. I finally found a room for rent but this video is 100% accurate. When your born into poverty you don't have many options. My mother was poor her mother was poor. It's hard to climb out of that when your own family doesn't know how to save money and lives paycheck to paycheck your whole life. That's all I know so it's not so easy to just get rich
Can't you take a loan or find someone that doest need 3 months down explain your situation something wasting 25 k on a motel when your already poor sounds ridiculous
Yeah than watch some finance videos learn to spend less for a while and work more hours invest in things like the s and p 500 after grinding for a few years you can probably back off a bit and not work as much but you should be set up well
@@DugrozReports how would he answer that? you would need to give more details. If the problem is the 3x rent thing you could look for some kind of short term loan
I’m glad you guys talked about the mental/emotional trauma being poor can have a on a person. I grew up poor and escaped it as an adult. Any major expense still scares me because I associate money with safety. The things you see and experience as someone truly poor stay with you for the rest of your life even if you escape the cycle of poverty.
I have such a hard time deciding what to spend money on even when I know I really need to because I’m terrified that I wont have it when something inevitably goes wrong. Also, even deciding what to prioritize is hard
@@stevenliang3213 Not other developed or first-world countires. The US is unique among those - essentially for most citizens it's a thrid-world country wearing a Gucci belt and shoes.
The best analogy to describe poverty for me was starvation. People often look poor people and wonder why they just "throw away" their money on lottery tickets, scratch-offs, etc. But when you don't have the cash to support basic amenities for yourself, your perception is totally different. It's the same feeling you get if you've ever gone an entire day, or even half a day, without eating. After a while, your stomach hurts and all you can think about is food. You can't enjoy anything, you can't pay attention to anything, you just need to satisfy that hunger. Poverty is the same way, only with money. If you don't have it, you *constantly* feel the stress of not having it, and you'll do pretty much anything to satisfy that need for financial security.
That is actually not correct at all and your statement also implies that poor people are more likely to commit crime to get money which is also totally wrong. Did you ever not eat for a day or more? Your body will stop telling you that it is hungry. You will feel the hunger once there is food in reach or when you anticipate to get food soon. Poor people are concerned with getting by day by day but they are most often more likely to help others out than rich people. Most poor people stay poor because they cannot break out of the confines that the society build around them, in other words because they stick to the rules imposed on them.
@@phelanwolf6747 shut up wolf, u clearly never know what it's like to try ur hardest everyday, to risk everything u have, and still never be accepted, and not have enough. And yes poor people are likely to commit more crime, not because they are morally wrong or think a certain way, but because what they are doing isn't working. Money don't buy happiness but a starving person isn't a happy one.
Wyatt Stevens I was homeless at age 18 and now I have over $420,000 net worth, own 3 rental homes, an make around 200,000 a year, due to a business I built by myself (and later that my wife also helped build). Getting out of poverty can be done if you’re smart
Wyatt Stevens from what I’ve seen, the problem is that poor people don’t understand what “opportunity cost“ is. They don’t realize the value of their time and money. They don’t realize that time is money. They don’t work in their free time, to develop their skill set or build their own business so that they can make more money later. They don’t realize that you need to work extremely hard, 80 hour weeks and living on beans and rice, to get out of poverty and save up money and invest that money. Once you’re comfortable it’s easy to then get richer and richer. Trust me I know. But the initial year getting out of poverty is a giant suckfest that most people don’t wanna put enough effort into
I've lived below the poverty line. When I was in college, I lived with three other guys and we all paid about $300 p/m for rent. Two to a room, scraped by with barely enough to eat. I now do much better for myself financially. What's really interesting is how the rules change in either direction. When you're very poor, the system essentially steps on your neck so you need to claw your way out (see the years of my life between 2015-2018 where every meal I bought for myself was from a discount grocer and consisted of mostly salt. Also, at one point I was sleeping in my car because I couldn't find a place I could afford to live.) You REALLY gotta work for it. What's equally interesting is once you hit that threshold, it becomes INSANELY easy to avoid taxes and a bunch of new rules apply. E.g., I started a side hustle doing dogsitting. The money isn't very much, but it puts miles on my car so I can expense part of my car on my taxes. Since I use the car partly for business, I get to write off repair expenses. I had to fix my transmission to get to dogsitting appointments and that cost me about $6,000. It became a write off. So that job that maybe pays me $100 became worth significantly more since it allows me to write off part of a transmission repair (depending on what percentage of the car is used for work). I can write off almost $30k in income between a 401k, a traditional IRA and an HSA. Basically, the name of the game in America isn't "How much can I make?" It's "How much can I keep?"
Agreed. I think your college experience is one that many people share. And it is alright. Many young adults who don't need money so badly do not bother to make any or save any. Our system is also stacked in favor of people who make a lot of money. I don't have much sympathy for ppl with multi-million dollar homes who don't think they could or should pay more to benefit their fellow man. Of course, our govt often does a poor job of using the money wisely. But, giant houses, wildly luxury products and extremely expensive vacations isnt using it wisely either. Voters are ultimately responsible. But, they watch TV and their minds are filled with shocking news about untrue or dramatized politics that make them blind to real issues that we could be tackling. I don't know what the solution is. We as adults need wiser adults to help us. Unfortunately, thise don't really exist.
“The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles. But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet. This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness.” -Terry Pratchett, Men At Arms
Unfortunately the standard of money vs effectiveness or quality has gone Down hill. It is the brand people look at. You can have trash eith that brand and people will buy it.
But the poor man can only afford cheap boots because he feels he deserves a big TV, the new iPhone, big gold chains to show off his "wealth", lots of tattoos for attention, huge tires for his truck or expensive wheels for his "whip". The first things he gets with his paycheck are a bag of weed, cases of beer, a carton of cigarettes, that new game for his Play Station; and if there's anything left, he thinks about his bills and necessities.
As somebody who grew up in the hood and made his way to the middle class all I can say is fuck these two and the horse they rode in on. You can tell that they're butter-bar middle-class dipshits who believe that the working class and below are too disgusting to even visit or interact with because had they done so they'd have realized what a load of baloney most of this video is!
I’ve tried to explain this to people with even relatively modest incomes who aren’t rich, but aren’t struggling either, and it’s hard for people who are even just two missed paydays away from being in this situation to understand how tough it really is to claw out of it.
Yes. As a society I think we should consider using the govt to intervene with many more families who are unable or unwilling to raise children into adults who have a reasonable chance to be happy and successful. So many children suffer from a bad home life that cripples them for life. This goes on all the time and our current system rarely gets involved.
Your content is truly amazing. Very few educators have taken on or even tried to explain the real struggles faced by low income individuals, due to their basic misunderstanding of how large those hurdles can be. I have shared your video with some of my contacts within the public health field. I regularly meet enthusiastic public health professionals/students, and a few years later their enthusiasm has changed to cynicism. Their passion to help turns to frustration working with the poor due to the poor's cylindrical bad decision making, many times for the very reasons stated in this video! I have done my best to try and explain the financial hurdles that the poor have to overcome, but this video covers many of their obstacles concisely and compassionately. Well done.
What amazing feedback. Thank you so much for those shares. And I can totally relate with the enthusiasm turning to cynicism. I've worked a bit with some vulnerable communities and that's so accurate. I think compassion is the only real antidote. And compassion sometimes takes work. Thank you for what you do!!
you're in public health? where? i also work in public health in a large city with high rates of poverty and this is something i'm training my field staff to be aware of when they are working with our patients and clients
Yep, same here. Our system is broken. But that’s how the elite want it. The more dumbasses there is out here, the less people that will climb to the top and take their spot
The hardest jobs I have had in my life have paid the least, while the easiest have paid the most… maybe just my experience, but poverty for me always seemed to make make me work much much harder for much less money.
@@EndPoliceBrutailty Last November when I was on vacation in Korea, I learned South Korea has a good system where because of government incentives the farmers are super rich.
Watched my pops live this kind of vicious cycle after divorce, completely heartbreaking as a teenager to realize it was too big of a hole for him to dig himself out of in his 40s, then he died of cancer and the hospitals barely tried much because no insurance or money. I vowed to never let myself get in that trap, and today I am far away from poverty but I had to become so good at what I do and jump many different jobs in my industry and still drive many hours a week to keep this lifestyle. It sucks having the commute but I know the alternative is far worse.
I've seen normal people go insane after they realize their lives are over. No job, no money, no friends, no nothing but debts, bills and even jail. It's not hard to imagine why there is so much despair out in the streets.
This is absolutely true for those in urban areas, but theres a completely different type of poverty in rural areas. Cars are an absolute necessity in these areas which leads people to purchase unsafe vehicles just to have any access to work or groceries. The lack of jobs in rural areas leads to excessively high commutes and children left in poor care if any is available at all. Utilities and services can be expensive or even absent such as trash service, internet, or specialists. There usually aren't universities or colleges within close commute so higher education costs more to those able to put rent on student loans. Those that have dependents or are otherwise unable to secure loans are hard pressed to improve their situation. I grew up in absolute poverty. The issues of rent was less of a concern than unsafe/inadequate housing and lack of transportation. Being poor in a rural area is isolating.
Kozickih yes, rural poverty is worse than urban poverty based on lack of public transportation. It’s a vicious cycle that can’t be broken easily. I got out, but that was thanks to student loans. I was smart enough to graduate from a University and secure a good paying job, but I’m still paying off the debts from student loans, and other credit cards that were not paid because of it.
I haven't experienced this myself but I've heard a lot about it. Many rural communities have just been forgotten and left to die. Some places don't even have functional sewage system. It's horrible and I feel bad for the people that have to feel it in their daily lives
Been there done that. I grew up poor and was poor though my 20's. I quickly learned all the things you covered in this video and more, sometimes the hard way. Being poor is a skill. Growing up poor gave me an advantage over kids who's parents had a little money to spoil them but had to make it on their own after leaving home. Having an unreliable partner is another risk and can create an unlimited liability. If you are poor forget "hot" or "fun" until you find yourself a "reliable" partner who is smart enough to avoid all these traps and willing work with you, not against you.
@@westenev When your partner is unreliable it not only shows they care nothing for you it means they don’t care about anything or anyone. I used to think they only cared about themselves but they can’t even manage that. If something bad happens to them that just produces a bit of drama so they can feel alive for at least a few seconds.
Good point on the "unreliable partner". My wife and I are on the same page looking at costs. We don't fight over money and we spend carefully. We aren't rich, but we are comfortable because we were BOTH careful.
I’m probably in the upper end of the lower class scale. Not wealthy at all and have several financial troubles, but do have some wiggle room. Can only imagine what it’s like to live like that. Anyone who is experiencing this right now. Stay strong!
Chen's I cant believe, give a UBI to poor people. It’s ironic, but it works. The UBI should be a few thousand dollars, at least between 1000 USD and 10,000.
@@cowsteal3780 If you fix the price of rent, it reduces the new home construction rate (supply), the population will increase over time, and housing runs out.
I am in a lower class financial bracket and this made me tear up just thinking about those who are in a worse position. I am so blessed and there's always someone that's got it harder. Thank God for what I do have.
@@CrimsonEclipse I'm Nihilistic, but optimistic and I think the same way as him, being like that doesn't mean that we throw our life away Completely. Everyone has to find their own way to life I guess.
░▒▓█▇▆▅▄▃▂Gous▂▃▄▅▆▇█▓▒░ that is actually a contradiction since a nihilist thinks nothing matters and there is no hope. Maybe you are talking about being realist, or pragmatist. You can see the bad things and criticize things but that actually doesn’t make you a nihilist.
I'm glad I didn't grow up in poverty. I always had enough to eat, my clothes were clean and I even had my own room in my family's home with a garden. So it really wasn't bad. However, I remember my parents struggling to pay our bills as they had to pay back the mortgage for the house. Because of that my sister and I didn't have fancy clothes, a trampoline or things like iPhones. We also ate out about 3 to 4 times a year as a family apart from vacation which, fortunately, my parents always saved money for. Every year we went to our neighbouring country Italy and spent 5 to 7 days on the beach. There, we ate out every evening which was always very special. My parents did their best at getting us everything we wished for. They scraped every penny to pay school fees for me and my sister for us to receive an advanced level of education. Thanks to them my sister and I were both able to go to college and graduate. I'm incredibly thankful for my parents' sacrifices. However, my childhood will forever be a reminder not to have children myself unless me and my partner can provide them a more or less carefree childhood. Because that's something my sister and I didn't fully have as we witnessed money troubles all our lifes until we finally got reasonably paid jobs ourselves.
This needs to be taught at middle- high schools. I didn’t even learn about this until college. And it saddens me that these basic concepts aren’t taught so people can actually understand how life in poverty is.
The reason they don't is because the test publishers' investors are more important than anything else in what passes as education in the US. Learning how to budget is not on the standardized tests.
The reason why you're not taught this in school is because this is a big f pile of crap. A video full of lies and that treats the viewers as stupid gullible kids. If you are broke don't f use credit, use just the debit. Whats the logic? Aw, I can't afford things so I'd better borrow money? People don't calculate if they can pay the money back? If you don't afford a bank account then don't get one. And f no, 3% out of $20 is not bigger than 3% out of $100 wtf. (3% out of $20 = 0.6 ; 0.6×5 = $3;) they make it seem is 15% out of $100 when summed ($15). Fair credit VS good credit, are you insane? Why in the hell we talk about credit cards when we talk about people having problems surviving? All this bs is not the solution, it only brings more poverty. You give them more money, they will just spend more recklessly. It's been seen again and again with lottery winners, in no time they get back to where they were because they don't have the discipline and they don't make good decisions. Aw you work 12 hours a day 5 days a week and you have problems surviving?(most likely you don't, but for the sake of argument) you want more? You still have 12 hours to read, to hone a skill, to take classes to become better so you can have a better job, use the weekends. Change the people around you, don't waste time with losers that spend their nights and weekends drinking and benching Netflix, or simply doing nothing. Crying about it won't help you. Being gifted more money won't help you.
@Austin Martín Hernández its exactly the same thing. Its more money out of a sudden that you don't have the discipline to use it the proper way. You will simply spend more, waste more, and end up on no money before end of month or have problems with rent food w/e. The analogy isn't about the sum of money its about being reckless and undisciplined. And about the work hours. You want a f better life? You gotta work. More of the same brings you more of the same. With 40 hours a week only doing your part you won't get anywhere. You'll just stay where you are. If you think life is a journey, and you waste 3 hours daily on cooking and cleaning then you have your answer for being poor. That is 21 hours a week on cleaning and cooking. Half the work program. That is being an idiot and wasting your life. I didn't see you comment on their f 5th grade math problem and on the fact that they take it for granted that broke people should use credit cards. Anyway all of their points are void and purposely misleading. But hey, the truth isn't pleasing, people don't like being told is their fault for being losers. It's easier if you blame some invisible enemies that just work 24/7 to put you down. And keep you poor. Its not your fault don't worry.
I have taught my middle school students the basics. Credit/debt cards, loans, cost of living, etc. Now whether or not they are listening and taking it all in is a different story.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
@DATING HARLEY QUINN Sounds like daddy's money. Personally I've been poor and I now have enough that I'd never need to work again. I know which is better. Someone who was born with gold up their ass don't.
DATING HARLEY QUINN Wouldn't you say that there's a happy medium where you can have enough to live comfortably, but not enough to buy a rolex or a Bentley, and therefore probably not need bodyguards, that would probably be close to $100,000 for most parts of the country, and somewhat higher for some of the more expensive parts of the U.S.
When I was about 5 my family was dirt poor, There were some days we couldn’t eat some nights but now I am 14 and we have a decent amount of money and I am VERY grateful for it
Vanessa Bayardo this maybe realistic but it’s isn’t helpful on a finical level. More like excuses and validation for feeling trapped in the system. Realistically people should be aware what they have and what they can spend. If you have less than $1400 in your bank account as a adult there is something wrong with your life and it needs to be evaluate. If you are a college student you won’t have that kind of bank fee on a college bank account.
@@CrimsonEclipse So you're talking about realism but you're arfuing from an Idealistic viewpoint? Seems inconsistent, if you want to talk about realism then bring up empirical arguments, don't just talk about how people or things "should" be.
paperinkglue you spoken like an ignorant person. Truth be told I grew up poor than most so called low income American since I actually grew up as a legal immigrant with parents who were uneducated and worked minimum wage jobs and less than minimum wage all their lives. I grew up in a poor neighborhood and what I noticed about typical low income Americans is they have bad spending habits. My family couldn’t get welfare or food stamp since we weren’t citizen. I notice poor children in America are actually privileged. Americans complain a lot and Americans likes to trap themselves in victim mentality. Also many lack poor life skill since they were born since. If a poor immigrant family could overcome and have a savings account so can you.
Mario Perez it’s basic math but I guess you guys failed to understand math. For one even I grew up poor and from a immigrant low income family who’s parents work minimum wage jobs majority of their live. I’m a first generation immigrant. My family didn’t qualify for welfare or food stamps but I knew many low income Americans since I grew up in a poor neighborhood. I learn a lot about saving money from my family and learn how to manage with what I got. I also notice most American are accustomed to debt and excuses. I see many lack resilience and self-responsibility. It’s always someone else’s fault. America is the freest country in the world you guys don’t know what is poverty, you guys don’t know what is struggle. It’s close to impossible for an American to starve to death since you have so many charities handed to you. The only time I seen a starving Americans is when they are a drug addicts and/or a neglected child. You guys have the fattest homeless people I ever seen. Even homeless people can’t starve to death since government and volunteers feed them. I swear the major problems most homeless are dealing with is mental illness. Most Americans have so much self doubt. My uncle always said. If you are smart and hard working you can achieve anything. If you are dumb and hard working you will do ok. If you are smart and lazy you will get by. If you are dumb and lazy you won’t survive. He also said a dumb and hard working person will do better than a smart lazy person since a smart lazy person will under achieved. It’s about the willingness to try. If you never try you will never get anything done. My uncle survive a lot. He survive the worst famine in history, survive communism, he worked since he was a child and he could barely read even now. He came to America with very little money and started a decent life in the US. He was a bust boy and dishwasher but later on he learn, developed and grow and have a decent life based on his skills, talents as a jeweler and work ethnic. He later on got marriage with 2 kids but his wife was a gambler and a cheater. He divorced his wife but she took the house, money and everything while he has 2 young son to take care off. One of them was a toddler. He was still paying his ex-wife’s debt which was in the almost half a millions, since his name was jointed with his ex-wife. He continued to work and got himself back up and built his life all over again. Now he owns his own jewelry shop and his 2 son’s graduated from college got decent jobs. I told him he had a very hard and tragic life. He said there is no point to feel sorry for himself. Humans are tough. If you have will power you can easily survive anything. Worst thing a person can do is feel sorry for yourself since you gave up your life by choice. About realistically of money management and finance. It’s basic math, additions and subtraction. You count how much you make each month. Line up your monthly expenses. You divide it up into categories. You figure out a budget plan and make budget cuts. Sure it feels hard but it will feel better on the long run. Depending how poor you are and which city live in you can qualified for subsidized programs to pay electricity bills, and rent and even internet and cell phone bills. Again that is just depending on your household income and city. If you don’t qualify for it, it is not the end of the world. If you worried about not having food you could volunteer at the food bank. They give all their volunteers huge amounts of good quality food as compensation. Doesn’t matter if you aren’t low income. Many college student does this to save money for food. An hour of your time for a weeks worth of food. If you are single you have no excuses. Single people has the best situations they don’t have to take care of another person. Even if a single person work a minimum wage job they can get by with life. A single person can also move anywhere. If you still live with your mom you even have less excuses. If you whine and complain how you have nothing while living with your parents it’s a personal problem.
It's really easy to miss or forget how fortunate you are sometimes, and this video puts that into perspective. Apparently we used to be in a similar situation many years ago when I was like 3 years old. I don't remember, but my mom tells me that simply going to McDonald's with me and my sister was quite the expense, and I remember that quarters were so valuable to us because we used them at gas stations to pump our tires. While we're definitely not wealthy now, we are in a much better place and are able to spend a bit of money on ourselves every once in a while, and every time I can I'm very thankful for that.
This is very true especially in place with poor transit systems. Takes years to dig out of that. Taking bus loose 1.5 hrs to make a trip that would take 20-30 in a car. Living with someone else to make cost of living cheaper have no utilities in name. Need groceries for 2 weeks cant hold them while holding onto bus rails so make multiple round trips trying to eat healthier or pay someone $20 for gas money and time to drive to grocery store. Want to work at that job that pays more bus doesn't go there. Dont want to walk in sweaty from the half hour walk. So now try to get a loan from a good lender, not enough credit, no proof of long residency or income too low. So buy here pay here double price for car that needs to go to mechanic every month draining the little raise of pay you got. Single parent can't afford day so have to work multiple part time jobs to go between friends and family who rotate watching your child so government doesn't take your child. Being poor and not having family or friends who can teach you how to get out is a drain of life source. The list goes on and on. Some people buy stuff just to give themself a thank you to say all this loss of time wasn't for nothing. While some are just impatient and delusional and spend all their pay check to put up an image.
It's so true. I've taken public transit as my main method for several periods of my life. It absolutely DEVOURS your free time, making it hard to get ahead, build a "side-hustle", go back to school, etc.
@Carlos Masso That is awesome!! Hats off to your family. There are many people who start off poor but use their time and talents to make a better future. Just annoying to hear people say people are poor by choice when people poor takes away the luxury of choosing most days. Getting out of poverty takes drive, determination and most times. I myself came to this country as an immigrant by. Lucky to have gotten a scholarship, rode a bicycle I bought for $100 to not rely on the bus as much. Worked in landscaping, arboring and website hustle until I finally got hired 2 years after graduating from college as software developer. When you dont have money all you can trade is time and effort. Throughout those two years of overdraft fees, bad landlord and constantly taking car to mechanic and pawning stuff to make the rent and still pay late fees plus court fees, managed to still study and work towards things. I knew I was going to loose time to get where I needed to be so It was either going to make it count or count my self out. We all have choices and we are never defined or limited by our current state.
@@TwoCentsPBS thank you for your great and down to earth content very relatable and easy to understand and mentally digest. As it relates to time that was the most annoying thing to deal with when I didn't have the income Inhave now. Time and choices are so limited when you are in poverty. You get so frustrated and overwhelmed with all the decisions and cuts you have to make till the next pay check plus Sallie Mae and the gang garnishing paycheck and taking tax returns, overdrafts should be illegal I woke up on day to $175 of overdraft fee on a Tuesday I just stopped dead in tracks and cried thinking about how I have to look at my wife and tell her we have no money and may have to paen our electronics or rings. I am so happy my wife and I made it through but we used to lay in bed looking at the ceiling like this feels hopeless but we can't waste our days away so let's keep doing this loop of insanity until something different happens. And sure enough after many interviews, late nights surfing and applying, multiple attempts at MLMs and side gigs. Little by little positive changes started to happen.
I've had to take the bus too, but there is a way to make lemonade out of those lemons. A library card is free, and that's time that you can spend educating yourself to get to a better place emotionally, financially, etc.
I think all they mean is, being rich won't make you truly happy. Having the option to do what I want would make me happier. I would focus on fitness, and learning skills, and less on making money. But for example, car companies want to sell you on getting the fancy car to be happy, whereas if you just have a reliable car that is comfortable and safe, you've got the security and freedom covered, so you really don't need anything fancier to be happy. I forget which study it was, but basically, after around 120k a year, the reported happiness reported levels out. In other words, someone making 130k, and someone making ten million a year could have the same level of happiness in terms of money.
@@kristoferhutter3873 I agree to certain extent but having money doesn’t mean I would go and buy a toilet made out of gold or spend $$$$ on designer t-shirt, fancy car... but we can’t deny that money can make your life easier, safer and happier Example, we are in the mists of Covid-19 pandemic. If I have money, it would allowed me to buy / rent a home that come with garden, pool, gym, ocean or mountain view, some place where I feel safer and just relax . If I don’t have money, I am stuck. Got to go to work even if I don’t feel safe because I can’t afford to lose my job. Hoping I don’t get sick because of the obscene costs of medical bill. Can’t help others in need financially.
Which is bullshit, because in the book that character also had good choices. Her parents were going to pay for her college and continue to support her financially if she chose a field that had good job prospects, but she wanted to be an artist which her parents didn't support, and so chose to be a surrogate where she had a couple's baby for money, but then ran off with the baby instead and lived a nomadic life. She had good choices and screwed them up, and couldn't take responsibility for her actions until the truth came out and her daughter forced the issue.
Yo watching this video, it made me realize I got it good. I live like 10 minutes away from a grocery store. I have a car. I live with my parents. I have extra money to spend on video games and other things. I can afford healthcare. I'm thankful for the lifestyle live.
Parents won’t let you stay there forever though. Trust me from experience. (They also could die… just being honest.) So you need to get successful and raise your income, soon. Start a good paying business or go back to college
@@charlesg7926 My Advice To You Is Go To Nevada Find A Brothel That Will Hire You And You Will Be Rich In No Time It's Legal In Nevada That's Why I LOVE Nevada It's Hard To Pass Up That Kind of Income And It Don't Take Any Real Skill To Get Into That Profession And The Set Up Costs Are Actually Pretty Cheap Too Not Only That It's A Job You Can Actually Get Addicted To 🥰
The concept of overdraft fees are a joke. You're being fined for not having enough money. EDIT: The bank can simply decline a transaction if it goes into overdraft, instead it chooses to loan you money so it can collect the fine.
You are being fined for using more money than you have without agreeing beforehand with the provider. Going negative with no pre-planned overdraft is essentially theft, thoughtful or not
That's why I moved from Chase to a new bank called Chime. I don't have any overdraft fees, or any fees at all. Like when I used an out of network ATM, I was charged a fee, but Chime refunded that fee back to me.
@@TheMajorpickle01 , you can't use money you don't have. The provider "fronts" you the money for more in return instead of just declining the transaction. You referring to it as theft is comical.
This is my entire childhood. Growing up out in the sticks in eastern Kentucky there ARE no good jobs. There’s no high-paying office or warehouses or factories because companies avoid that area. I’m lucky enough to have made friends on the internet who went out of their way to give me whatever I needed to get my feet under me and still have trouble with important things like seeing a doctor or keeping the car in good repair. It’s a glue trap. The more you struggle to escape it the more stuck you become. The system is DESIGNED that way to keep people desperate because desperate people are easy to take advantage of. Someone looking to get a BETTER job and/or who has a lot of money in savings is less easy to exploit (and thus less profitable and manipulatable) than someone living paycheck to paycheck or who’s been out of work for a while with no savings is gonna take whatever job is available, which allows corporations to offer lower pay and fewer benefits in worse working conditions. It’s like how wolves don’t prefer to chase down a healthy buck, they’d rather go for a doe or a younger buck that’s already got a limp.
I grew up low income, by the time I was 14 we were homeless because my mom was a drug addict. I seriously felt all alone and so hungry all the time but I wasn’t alone. Unfortunately a lot of people grow up that way under many circumstances. It’s not always because of drug use some people actually get it unfair and I’m blessed I have the opportunity to now help people like I wanted people to help me growing up.
True. Dave Ramsey goes over this really well, too. There’s 4 things that lead to people STAYING in poverty: 1) drug use. 2) not doing one of the following: not starting a successful business, not graduating college, and not going to trade school either. You gotta do at least 1 of them. 3) having a child before you’re married and financially ready. 4) not having a full time job. If you avoid these 4 things, you’ll avoid poverty and/or get out of it within a reasonable amount of time, 99% of the time
@@charlesg7926 college and trade school cost money, and starting a business often does as well (and the vast majority of businesses fail) so it's simply not possible for everyone. Not to mention that any hour spend on these is an hour spend not earning a wage.
@@charlesg7926 I find drug use leads to complacency, as when I’m high on weed, I feel very happy with where I am financially. Depends on the drug though I guess, adderall makes me just a smarter person, but I don’t take it because I love food and it makes eating repulsive.
@@ChannelOfJoris Can’t you take student loans for college and pay them back? I get it though if the person in question isn’t from a country that has college access and they would have to migrate to a place like that, that would cost money. I get what you’re saying about wage though. This is what I’d do in a country with student loan support: - apply for scholarships for poor people - apply for student aid (my state has a lot) - get a job - get loans - go to community college for general education (cheaper, transfer after two years) For college with a place to live: - use the money from working to share a place with roommates - save up money for a rice cooker and eat oatmeal, beans/rice, spaghetti And if I wanted to just attend college homeless (assuming no car): - where I live, homeless people actually get “free” money, but if it’s a place that doesn’t do that, then beg or work nights (where I live, I met people who I’m pretty sure were homeless working nights) - buy a gym membership (for showering) - purchase camping stuff and set up a tent near a bridge (lots of homeless encampments near me and they like bridges) - take the trolley/bus - buy a tiny portable stove that plugs in - buy a pan - buy a pot - plug the stove in (parks where I live have outlets) - cook If there is a car involved, then live in that and drive to college as opposed to taking public transit, and there are some mini stoves that can be plugged into the car so that could work as a place to cook as well. Maybe I’m missing something, but that’s at least what I would do where I live. Tons of homeless people where I live. As for other places, I’m not sure how it is.
Grew up poor. I used to go dumpster diving as a child with my mom at the recycling plant for all the unpurchased Sunday newspapers with the coupons. I'd also dumpster dive at the corner gas station and the dumpster had lots of chips and snacks that weren't even expired.
I'm in poverty right now. I live in a beautiful apartment complex but I'm surrounded by people who shoot the place up, rob each other, abandon and neglect their children. I do dialysis at home so this situation constantly triggers my PTSD I've been in counseling for since 6 and I'll be in counseling til I die. I've learned to not beat myself up because I've been taken advantage of by everyone and everything such as these banks, payday loans, high interest rates and my credit is good. Everything in this world seems to be an illusion of some sort or another.... I'm just happy to find people like you who enjoys deep conversations 💕🫂🎉 I'm happy to find the help I need.
I remember living like this in college and realizing that everything costs more when you're poor. Banks charge you maintenance fees which my parents never had. Not having a car to get around put us at the mercy of the local shops which always charged a premium. Don't have a laundromat in the cheap apartment and had to drive out to one, the laundromat charges 25 cents to break a dollar. Stealing toilet paper out of the library bathrooms. When you were poor, you were at the bottom rung of society and subject to everybody's little fees and charges to deal with you, and it still makes me angry to think back on it. I finished college and then med school. I'm not a 1%er but I'm a 3%er and I never frequent those businesses anymore. When I was refinancing my mortgage BofA asked me why I used to have a checking account with them and never went back, I told them it was because of those experiences getting nickel and dimed for everything when I had nothing.
Yep. I had missed one rental payment because of a draft from my account that I didn’t intend to authorize for a trip I was planning. I received an eviction notice, and had to shell out a lot more in late fees. I incurred overdraft fees, which would reduce how much I had received from my next paycheck. I would pay a bill every other month, and gotten my electricity cut off once. I slept in the dark until my paycheck came the next day. May car was repossessed. Yep, being broke is expensive. Solutions for me: Eat and cook at home. Earn a professional certification and keep trying to apply and interview for jobs. Cut out cable. Cut out subscriptions. Stop the overdrafts first, then see where you can save a few hundred, then a thousand. A second job often helps, but it’s draining!! Eventually made it to being a homeowner. Phew!
Alexis Jankowski speaking as someone who actually is poor (I'm disabled my income is $1045 a month) I don't have cable, I haven't been to so much as a fast food restaurant in 10 years, can't afford to subscribe to anything, (my family pays for my internet or I wouldn't be able to contact them) I'm disabled so getting a certificate or a degree would be a waste of money. It doesn't sound like you were that bad off since you could afford to plan a trip?
@@ColorFusical "Just buy a house" sounds so outrageous in this context that I'm having trouble telling if you're a troll or not, like, I laughed at that but then you continued with a more serious tone. Hmm..
@@gargoyles9999 If that's your take then you've missed the point of the video or are too dense to process and understand it. And the Alexis Jankowski person absolutely didn't have it bad in comparison
This was beyond truthful and the most researched view I’ve seen said out loud. Problem is, I was hoping to see a solution or at least a glimpse of hope for people in that position instead of a mere, be thankful that you’re not in that position.” But, I understand that the problem is complex. Bravo on doing a deep dive on this subject. Maybe it’ll reach the ears of someone willing to influence change. 😢
Food banks need to be well stocked. Charities need to be well funded. People need to be educated. Governments needs to do what they can to create opportunities for young people whose families have been stuck in poverty so they can escape it.
Food banks need to be well stocked. Charities need to be well funded. People need to be educated. Governments needs to do what they can to create opportunities for young people whose families have been stuck in poverty so they can escape it.
@@DA-bm2mj As a lil boi who's family was extremely poor in the first years of my existence, this is not a joke, more of a reflection of real life.... Oh wait
When you’re poor you know who your friends are. People who go from wealthy to poor lose everyone they thought are friends. Payday lenders are the devil. Run like hell.
If a wealthy person hangs out with other wealthy friends then I doubt he would lose them. What use would a wealthy firend have for that person's money if they also have it? But if you're rich and all the people you surround yourself with are poor then yeah, they're most likely fake friends.
Yes that happened to me. Learned who my real friends were very quickly. When I suddenly couldn't afford to go out to eat, go to Disneyland, get manicures, etc, I was suddenly a nobody to the vast majority of my "friends."
I can relate a lot to this video. After college I had a really hard time getting a job because of the housing market crisis. Working minimum wage and paying almost half my income on student loans meant that I had very little extra to spare. This resulted in relying on credit cards and my boyfriend (now husband) was relying heavily on check cashing because he couldn't even get a checking account. We both had unpaid medical bills that followed us for years. I was lucky. I had my now husband and no children and lived in a very affordable town. Because I am a nerd and I have a good education, I was able to get myself out the cycle. I taught myself how to code and was able to get good work and slowly paid off my debt. I can attest to the fact that when you are so poor that you can't think about anything but how you are going to pay your bills it is incredibly stressful. No one should have to worry about paying for the basics. This time was incredibly stressful for me but I am lucky that it was only a short portion of my life. There are too many people that live this cycle and can never get out. I think this short time in my life eventually made me a more savvy person who can have empathy for people in this position so I can't say that I regret it completely but no one should have to spend their whole lives in these situations especially when it affects children. When I look back at photos of ourselves, you can see how being poor affected us physically. We were extremely thin, not just 20s thin, like you can see my collar bones sticking out of my neck thin. We were also extremely pale because we rarely went out and did things that weren't in our own home or at someone else's home or work. I can say this time had long term affects on me. I definitely have some food hoarder tendencies. Throwing away food makes me hurt. Sometimes I can't resist stocking up on a consumable that's on sale, even if we have plenty at home. We recently bought our first car but I still hate driving it and prefer riding bikes because even though is very old, it feels like some unaffordable luxury. It wasn't all bad, getting through this very difficult phase together has made me and my husband true life partners.
If you feel bad about throwing away food, you could learn to compost to at least make the thrown away food generate something of value for you or someone else. You can make composting almost as easy as taking the trash down once a week. There’s a bit of learning and investment up front, but after that, it’s simply a learned skill just like riding a bike or cooking a certain dish. I spend no more than 20 minutes a week on my slow compost bin that builds hundreds of dollars worth of soil for free. I’ve probably built $1600 worth of compost in three years this way. It’s not weed free (tomatoes are my #1 weed) but the nutritional value for plants is equivalent to a premium bagged product.
This hits really close to home & I wanted to thank you guys for this video. This describes my financial situation for pretty much all of my adult, working life, from my 1st job in high school up until ~3yrs ago. Despite working full time I wasn't even making enough to cover all my bills. Luckily, I had my parents for support & would lend me a $100 every so often so I could pay my bills. So many ppl are on their own & don't have any help. I find it hard to believe somebody out there doesn't know about all this consideration not just how much of my life this - oppressive rigging of every aspect of the economy against those who need the most help - consumed 35 of my 38yrs on this planet. If someone doesn't know how much every thing is rigged to keep ppl down, then share this w/ them bc a huge change is necessary here
Banking system in US is really scary for me, as Indonesian, i could say living here is much much more comfortable and almost worry free if you have a job that pay minimum wage..
That is so true bro. I lived in the USA for an exchange program in high school, so i kinda knew how the system is. Now, as an small-business entrepreneur in Indonesia, i feel that life is relatively easy, though i'm not exactly wealthy either. I dont think that Americans would be able to enjoy life as we do in Indonesia with only minimum wage
Alhamdulillah if so...this is why we must be grateful and do not transgress in to following other countries unsustainable trends...avoid usury(riba), avoid millennials consumerism and invest in 'REAL' money and Insyaallah you'll be fine 🤗
But sadly, nowadays our credit union (koperasi) are used to be fronts for scams, albeit pyramid or ponzi scheme,and our koperasi ministry let it so!. And preditory bank are starting shows up again like in the 98.
It's so strange to me that to get cheap groceries or a child out of school you would need a car. While in post-USSR countries homes are kinda ugly looking (although very strable) , schools and shops are always near your home. It's interesting to compare, thanks!
Time is big key factor. Free time means you can garden, DIY fix's, and other hobbies to make money, also time to shop around, time to learn, time to research stocks.
I'm so tired of middle class people pushing the stock market on the poor. I have 60,000 in student debt and only make 20,000 annually. You can't buy stocks when you can't even afford groceries and have to walk to a food ministry.
@@idlevalley how was I pushing stocks to the poor. I'm poor myself with about 60k in school debt and I work a food delivery job. I'm trying to start doing ride share soon to make more money.
Recently, I started watching these Two Cents videos and now, I'm hooked. I know squat when it comes to money so these videos help out a lot. I've learned more about money from watching these videos than the 25 years I've been alive. I really want to become more financially savvy. I am now officially a subscriber. Thanks for the videos you two! ☺
I can finally understand why some people spend all their money on alcohol and drugs rather than saving up and figure out a way out of poverty. The system is designed to trap them into poverty so they won’t come out of it unless mystery happens, so day dreaming is the only thing they can do to maintain hope of surviving. Honestly saying, I don’t think I’ll make it more than a month if I’m in that situation, I might just end all my things all together.
I finally escaped poverty recently and its shaped every part of me to the point that I can't even date people because they've never had "the poor life". I didn't watch TV or drive to concerts, I stayed at home drinking tea and staring at the trees. I've been told I have the personality of an old woman even though I'm 20 , I've earned all my things and I don't get too excited over video games and movies, I only care about money and success. Making friends has been hard because they weren't working since the age of 14 and everything's been handed to them. It's like being poor is still there even after escaping.
I can relate to this feeling to a certain extend but you must not forget to life and feel enjoyment to be proud of the things you reached. I usually dont really hang around with people who had it easy in their lives or at least they have some other motivational drive and i can detect spoiled people within seconds since they ususally live way to hedonistic and they often have no idea of life. Most of my friends are immigrants also. Coming from a poor background my focus was heavy on making money since *being poor was my only problem* and i never had other problems. Now earning enough i get little satisfaction buying *material things* with money. I want to buy time and therefore education to never fall back into the *poor trap* . My mom had debt because of my aunt failing to make a restaurant and making her responsible in the contract but my mom had no financial education and so we were very poor living many years from wellfare but she did her best and later found work and with my new stepdad and brothers its getting better every year. Then i grew up in foster care and there i learned to work hard for my money and was so eager to go working in the school holidays so i had to wait until i was 15 for my foster mom to allow it and then i worked every day of holidays and got the feeling of earning my own money at a farm. During school i worked at mc donalds and during university i worked many hard jobs like in a hot early hospital kitchen job. I used our german student wellfare programm but still had not enough money and I borrowed money from a good friend multiple times when i had no job for a few months. I also wanted to live so i also spend little money hanging out with friends and going to cheaper student parties. At the end of the month grocery shopping was just stressfull since no money left in the bank. I spend hours waiting at trams and bus stops and realized during university that "waiting" and wasting your life is the main reason the poor will stay poor. Until I got a decent working student programmer job at siemens with good salaray and still working at weekend hard as a mover live turned to the better side. I finally had 400 euro left every month and could buy some things, do some holiday, party and live with my friends. After this my next job working student job i stayed 6 years till i became senior developer and IT manager and now earning 100 € per hour as external consultant for this company but i learned the next lession in financial education: Money is exchange for time and realizing this, even at 100/h, i started my own startup so i can control my own working time everyday. My motivation is not money, my motivation is more independence and reaching the "rich cycle", instead the "poor trap cycle". *I never want to have those family or grocery shopping issues from the past again!*
Be thankful for it, that self-actualization is something that you will own forever. I personally have no problem with other people even If I cringe a bit when hearing people who've had it all handed to them but that is something that you just have to live with, be greatful for it, it will lead you to further wealth.
How the fact they haven’t worked when they were 14 is stopping you from making friends? I think the only reason you can’t make friends it’s because you have a bad attitude.
My boyfriend is the same way because he grew up poor, and when we first moved in together we were poor too; it honestly helped because I was privileged growing up. But everyone judges him because of his personality, what he likes to do, and the simple things that calm him down, but I just kinda realized he wants peace and I want it too! Peace is so hard to find (especially when you’re poor). I find saving, planning, and being at home to be quite nice. We do like to splurge on our food, but we are by no means partiers. I’m glad you’re not poor anymore-we aren’t either, but I’ll never forget.
I live in my car and a few weeks ago a landscaper doing the parking lot where I sleep said that I should rent a hotel room and that the one he stayed at was only $75/night. Umm, gee thanks dude, I'm not in my car because I'm broke, I just wasn't aware of the existence of hotels.
Elizabeth Barrera It's not uncommon for people to have income but not enough to rent a place to stay. Smartphones are a necessity when you don't have a landline. You need a way for people to contact you, and I can't even remember the last time I saw a payphone. Most poor people only have cellphones now. It's not the 90's when cellphones were a sign of wealth.
Blame the democrates . Supermarkets are nortorous for avioding poor neighborhoods because of demand to save ma&pa stories . And raising the minimum wage causes infation
@@osmosisjones4912 Blame the republicans who spread lies that poor people are lazy mooching democrats, while republicans won't regulate predatory businesses out of existence, or fund a sufficient social safety net.
I am still in the low class but not in poverty anymore. It feels good to see someone talking with understanding of this difference... There are other perks that were not spoken about and do make a difference. For instance, being poor is often associated with mistreatment from society which often leads to depressions making it harder to fight. Being stuck in the bottom also blocks access to information that may help a person grow. More, even employers have prejudice against poor people
weirdly having a kid got us out of this situation, or at least a little wiggle room. A tax return at our poverty level with a kid in the mix greatly increased the amount we got back. We started holding on to our tax return as long as possible to get us through the bulk of the year without the decision fatigue and scarcity trap that we were definitely in. Two years later and the stimulus checks we just afforded a move that gave us a large boost in our health and things are working out okay so far...
It's crazy how that works! I had my daughter like right after I moved out but before I filed my first ever tax return so I didn't realize the amount we got back was higher than some people's. I remember the first time my sister told me she got back like $7k, which was mind boggling to me (mine was usually $2.5-3k). And the stimulus money was so helpful; I still have a good amount of it and I'm not rich by any means. So, good for you! 🥳 And if you haven't yet, put your savings in a high yield savings account online and not in your local bank. You'll earn way more in interest and you can access the funds at any time.
Thanks PBS for your honesty. Most TV networks would blame the poor themselves for being poor, but you showed how things work without distorting anything. You are a great network. I also love Eons, Infinite and most of all space time. You guys are awesome.
The govt should get involved with people who neglect their children or cannot afford to care for them so the children have a chance. Starting with the worst circumstances. (In many cases, even when terrible drug addiction is involved, the government isn't getting involved.) I don't see any other effective solution. And yes, I know the govt is naturally ineffective because of nobody personally stands to benefit from taking responsibility. But, the children deserve a chance for us to try. And we deserve a world with less broken people that might hurt us or steal from us.
Aren't supermarkets like Walmart forced to aviod poor neighborhoods to save Ma&Pa stores. And if they the Minimum wage Price's while rise .so those making minimum wage just same those on fixed in come reling on saving. Inflammation would be detrimental
European guy here. If this video is anything to go by, you guys have it rough. The banking part especially seems very unfair. Paying more the less money you have in your account, for just having it and for transactions. What? I have several bank, savings etc. accounts, two credit cards, and none of it costs anything by itself. Sending money also doesn't cost anything. The difficulty of buying in bulk, well, that's probably the same everywhere. I would add to it the difficulty of buying more quality products that last you longer and therefore help you save money in the long run. But never in my life have I heard of anyone having financial troubles because they had to pay for a bank account.
America has really bad mobile internet. And really bad banking system. I live in second world country, but I can pay my loan with two clicks in bank app. My bank don't even have a lot of real offices. It has bank app and 24/7 customer support.
It may be a problem you or I never truly experience Ruby, but understanding the real struggle of millions of Americans can help us become more aware and more passionate about advocating for change. Great to see in you in the comments like always!
Two Cents I grew up in this kind of poverty. I was lucky to be able to escape it, but my parents still live in it. Sometimes I get frustrated when my dad makes terrible financial decisions. I have to remind myself that he makes these choices because he wanted relief in the short term and has trouble looking into the future due to how bad their financial situation is.
@@laurasweightlossjourney You hit the nail on the head, I as well did not live fantastic life growing up, but I manage my money properly now I live in a decent neighborhood and a 770 credit score.
This is super frustrating; for years places like Costco won't even touch us. Pay day loan and rent to own places make me beyond angry. I am truly thankful for the things I have.
Alright you are in need of some unethical tips. Go find some peeps you can trust in your neighborhood, pool your money together, buy a costco membership, and congrats, you now have a community costco membership. The details of how you'll handle the memebership card is going to change a lot depending on the situation, but neccesity is the mother of all inventions
Don't go to Costco, they are a bunch of stuck up, wannabe rich a***h*. Go to Sam's Club, and when checking out, ask a nice person to use their card to pass through and then you pay for your own stuff.
The real problem is that most people aren't as frank and honest about the problem without putting people down like Two Cents here. There's a LOT of demonizing those in poverty along with those that are the rich and wealthy to the point where most people get so fed up with it that they just don't bother to go find out the facts. Thus nothing changes for those who really need a way out of poverty. In the meantime predatory companies are more than happy to keep people in bad situations for as long as they can.
gwgux this is so true. Poverty is also a habit at least for the first world. I know for a fact since my family came to the US with nothing not even an high school education but they did pretty well with what they got because of being conscious about money and spending. I feel like the lack of awareness many people have in the first world tend to put them in poverty. I do believe the US is the land of opportunity since I seen so much success from immigrant families who actually lived through dictatorship, real poverty, starvation and famine. Even my parents did pretty well for themselves even if they could only get minimum wages jobs. At the end my parents saved up their money and lived happy and simple lives. They are happy they have a house, they have food, they have a car and their kids are out of the house and have their own life. So far I seen is the destruction of the first world are self-inflected. First world poverty is self-inflected with a lot of self-doubt, laziness, and hopelessness. It’s like an extreme victim mentality. Sure Predatorial companies are out there but by law they gave everyone the details and fine print before anyone agree to the contracts. This is more than what some countries get from companies. In the US you can filed for bankruptcy, you can ask for loan forgiveness, you can even settle a deal with the loan companies to pay less than you owe if you can give them money up front. I know since I had friends who in huge amount of debt and they been handling the case for years and companies settle. In other countries you won’t even be this lucky. You will go to jail in another country. Even the US prison system is not as bad. Most people don’t fear the US prison itself but only fear the other inmates since it’s like summer camp to them. I noticed there is so much social programs, low income programs for utilities, rent, housing, public transportation. If you are low income enough you can even get a free refrigerator, free computer, etc. So much social support for higher education and job placement programs for the low incomes. So much public support in the US and yet it’s so hard for some people to do the research and fill in the application. Even food is free at the food bank and even if you aren’t low income you can get a weeks of fresh organic groceries with an hour of volunteer work. I even noticed there are so many ways to get out of those banking service fee. Direct deposit is one of them, and so is online banking. People don’t do the research. I feel like this video is encouraging this helpless mentality people have that they are screwed because they are poor. It only see all the negative and none of the possibilities or alternatives. I noticed people spend more money than they earn. Even the poor ghetto people has IPhones and multiple cell phones. So called college students with Mac books and drinking Starbucks, summer vacation and complain they don’t have money in their bank account and can’t pay there student loans. There are student loan forgiveness programs. I paid off my student loans even if I didn’t get the career my degree was for. I just kept working and saving my money. It’s like the lack of self-awareness. Lack of basic math skills like addition and subtraction. I’m glad I was born in a poor immigrant family and my parents taught me the concept of savings. At the end I saw both the low and high in society. At least I know how to save for a rainy day. My uncle has this saying: -If you are hard working and smart you will do well in life. -If you are hard working and dumb you will do ok in life. -If you are lazy and smart you will get by in life. -If you are lazy and dumb you won’t survive. He said it’s better to be hardworking than smart since at least if you are hard working you will do something with yourself. Most lazy and smart people will do the bare minimum. Most of them are underachiever and likes to be in their comfort zone. Lazy and dumb person will just makes life worst. Never try anything, never think for themselves and expect someone to care for them like a child. They are more of a burden.
@@CrimsonEclipse Well fucking said, I'm not living in first world country so your detailed description painted a different picture from what I imagine poverty is like and the opportunity of said poor people in the USA In where I live we don't have those things, I'm lucky enough to be born in a relatively well off family so I never have to worry about my future but I know a lot of people who is less fortunate and it pains me to see them being stuck unable to improve and get out of their poverty Sometimes hard work is just not enough :/
@@CrimsonEclipse I was going to reply to gwux but then I saw your response and you aptly replied so I don't need to say much more. I only want to add that the so-called predatory corporations are not evil they're just doing business. The bank is in business to make a profit for its shareholders. There is nothing wrong with them charging fees on customers who don't carry enough of a balance for the bank to be able to lend that money for car loans and mortgages at a profitable interest rate. If you don't like it then don't put your money in the bank. Instead of looking for someone to blame, poor people need to look at their own choices and actions in life. They cannot control whether they are born into a poor family or not. But they can certainly control the choices and actions they make after that point. The very first one is the choice to apply themselves in their free public education. I'm thinking of a student who just graduated this year and says he wants to be rich yet every teacher in the school says he's lazy and doesn't do anything in class. The next big decision the young people make is whether to get pregnant or not. I'm thinking about a girl in the same graduating class this year who had a baby halfway through her senior year. These two young people practically doomed themselves to a life of poverty by their bad decisions.
@@CrimsonEclipse Honestly, I think it is the fact that Americans spend more when they see others spending more. Here's an article that helps explain that, although it doesn't really start until theories 4 and 5: www.theatlantic.com/business/archive/2016/04/why-dont-americans-save-money/478929/
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Thank you for reminding us what it's like to be impoverished. May we never forget about those who are less fortunate than us. I get upset when people say poor people should work harder. This video proves that impoverished communities don't have the same opportunities as the more affluent. And we haven't even begun to discuss crime and quality of education. One of your best videos. Thank you!
@@wlonsdale1 you're right. For 1 marking his way out of the ghetto, how many failed? Why did they fail? sometimes, people who are in the bottom of the hole have nothing to cling to and each time they slide, they sink a little more.
@@Gymcana - PEOPLE LIKE LONSDALE never seem to grasp the simple fact that for every person who gets a slot at Harvard, there is another person, equally as qualified, for whom that slot is forever denied.
MJ Noce , I do agree with you, but it’s modern age. I had some money saved in a traditional bank and they would pay me.15 % . I thought to move that money to a credit union since they were offering better rate, but sadly the catch was I have to do certain transactions in a period of time over and over then I will qualify for that rate.believe me if I would hit my savings that many times as the credit union asked me to I won’t have the savings I have. Simply given savings to an online bank and way better rate and it’s working great.
That's why it's so important to have loving parents, role models and good teachers when you grow up. Education is the way out. Once you're grown up, it's much harder to get out of poverty. If you're in this situation, don't lose hope though.
If you're surrounded by people who aspire to be nothing in life, it's pretty hard to find good role models. The same could be said for teachers, especially in inner city schools, they only care about their paycheck. They'll be the first ones to strike knowing damn well they don't teach a single thing in the classroom.
Can we discuss being right above the poverty line? The point where you’re cut off of public benefits but you can barely afford to live? That in some ways was more exhausting than being in poverty.
hahahaha im homeless right now actually :'))) it's a struggle and every day you just want life to end. trying to get through this best i can pls wish me luck :(
@MantisSZNYA2 i do, central florida is where im at currently. i actually have put in serious thought about pursuing youtube to help my situation, but my problem is content? and gaining traction, of course. long term it may work, though im trying to find more short term solutions. its difficult but im not trying to stay homeless and hungry haha. thank you for the suggestion!
I just got out of a homeless shelter. I inherited a little money & bought a car, which I now call home. I have a 50$ a month track phone, & it & the vehicle allow me to do food app deliveries. There's seldom more than a hundred dollars in my checking account, & I'm constantly hustling just to keep those from going into the red.
No need to pay for phone service. If you’re low income you can get a free phone and service. Check out Assurance Wireless or something similar for your area.
I experienced nearly everything talked about in this video. When I got my first apartment, I didn't have a refrigerator, a bed to sleep on (I slept on the floor), and a number of other essential household items. I relied on public transportation and had to take two buses to get to the grocery store. As you saw in the video, I had to carry a bunch of grocery bags on the bus. Once I did get a used but unreliable car, the car would break down about every three weeks; thankfully the car parts for a 1991 Oldsmobile were cheap with the occasional expensive repair. I graduated with a B.S. in mathematics during the recession and was unable to find a job for about a year and racked up a lot of credit card debt which led to dealing with debt collectors. I was depressed during this time and I did not hear back from employers for any of the jobs I had applied for (good or bad) despite applying for over 200 jobs. Since I didn't have I job I considered doing volunteer work but unfortunately I didn't have much money for gas lol. Of course things got better and I finally landed a very good job and I also went back to school and got a masters degree in statistics. Life is good now. For those of you who are in this situation...keep working hard and don't be afraid to ask for help!
Poor as the day is long !!! I escaped it by living in my car and parking in friends and families driveways and shwoering at the gym for 5years while paying bills down. When i paid all bills off i save for down payment on a place of my own and did not move in until i had an EXTRA for emergiencies. Doing great now. Bought a house and paid for it with cash.
Don't forget even if you have a bank account, when they see you're poor they're less likely to help you through any issues. Meanwhile if you have a lot of money in the account the employees will bend over backwards for you. I've been treated both ways and it's upsetting.
Well, so far, my bank has been great to me. I have a free checking account and I have no savings, I literally use my account down to the last dollar before my next direct deposit. I've had three overdraft fees in seven years and each time I called them to plead poverty and they've always removed the charges for me. Maybe I just got lucky with Citizens Bank. I recommend them if you have them in your area.
All you need to do is sign up for direct deposit of your pay checks. Most banks will give you a free account with direct deposit and they won't see you as poor as you'll have money going into the account every week (or every two weeks depending on how you get paid).
Sadly, banking is a business, and they are in it to make money. It's nice when they can help, but they are unlikely to place a wager on someone they know cannot pay them back. That's business my friend.
Supermarkets like Walmart are forced to aviod poor neighborhoods to save Ma&Pa stores. And raising the minimum wage Price's while rise . So those making minimum wage just the same. For those on fixed income living what was saved over years. On government programs just the same
I don think they should be illegal. They should be regulated. Maybe with a interest cap. Payday loan companies charge $15-$30 fee for every $ 100 borrowed, which is insane. It comes out to 400-800% APR. If we passed a law that capped interest to say 50% APR (which is still very high, but much more reasonable than 400-800%), it would cost people $2 for every $100 borrowed, instead of $15-$30. People that use payday companies are people that are in a bind, and being charged $15-$30 for every $100 is just insane and predatory. They are literally better off getting a conventional high-interest personal loan or using a high-interest credit card, but I'm guessing the people that use those services either have no credit or bad credit, which is why they resort to payday loan companies.
@@fckbweeb I would rather have these things not exist but if people need money, 50% interest is a lot better than 400-800%. and its better than them not getting no money at all. I am a capitalism. A Human-centered capitalist. I endorse Andrew Yang as my next president. #Yang2020
Payday loans might pry on desperate people, but the high interest rate also has to account for the number of people who skip out on paying back the loan. Something that’s more likely to happen to someone with a lower income.
That's so dumb aye! I was once caught in that trap I had to take all my money out for a bind fee for a house. Then I was financially fucked for ages. And cos all my wages were going on other things, I never had money in my account. It got to the point where I owed the bank 1,800$ for having no money. I managed to slowly pay it off. But I'm still not in an ideal situation.
@@annaeverette8960 don't have them here if you go to the atm outside your bank its free but if you use a different atm at a different bank its costs you, not at the time. They wait till the end of the month and charge you then so if your in a hurry and don't have time to go to your own banks atm and there is a few closer during the month and use them it all ads up, I've been slapped with a $120 atm withdrawal fee before. Took me ages to cotton onto what the hell was causing it.
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
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When I was a kid, my mom was poor for a couple years. I remember her timing our showers to 5 minutes and having us wear clothes twice before washing them, so she could squeeze an extra $20 out of the water bill.
@@vaderladyl yeah I know lmao. she explained it to us kids that way as a fast and clear rule because a 6 year olds judgement isn't really good when it comes to laundry
Bruh.. Easy fix on the water bill. 1. Get yourself wet 2. Turn the shower off 3. Clean yourself 4. Rinse And that should be less than 30 seconds of running water
I am in an apartment complex where my neighbors get evicted with tearjerking regularity. Helping them move out has helped me understand the problem. They have big screen TVs, big beds, furniture that they don't need, and some hoarding. Their cars are newish. In comparison, I have a very nice fat tire bike that I keep in my apartment. No car. Sure, Uber is $70 roundtrip to the airport or VA Medical Center but I save $9K per year by not having a car. The bus is $4 for a full day of riding when i have the time away from work. Because I get over an hour of cycling in every day, sometimes in the snow, I don't need a gym and sleep wonderfully due to the exercise. Frozen salmon in bulk for a week of breakfasts and dinners costs me about the same as one plate of sushi going out to eat. Used books at the library cost about $1 for some amazing and current nonfiction titles that last me years sometimes. Borrowing DVDs and books from the library is a very inexpensive and social way to cut down on entertainment expenses. Order nonperishable food off of Amazon to save on shipping costs and impulsive buying. Vegetable gardening on the porch is healthy, relaxing and prevents food deserts. If I was allowed to, I would raise chickens. My bed is inflatable and my table and benches fold up fast. I see a lot of fear in the purchases of my evicted neighbors. What is causing their financial downfall is their fears of losing their stuff or rank in society IMO. We all pay the same rent, but my neighbors spend about $25K per year more on living than I do. That's a problem.
Yeah people tend to try to go beyond their means just to save face. I've known people who were as broke as me staying in fancy apartments, going to to eat 4 times a week, buying things like a gaming computer for $1500 while I would stay in a cheap apartment and get a roommate, had a regular computer for $329 from a black friday sale and would download free books on my kindle for entertainment. After several months I was able to improve my situation while they were being evicted and asking me to bail them out.
@Roy_Thousand , thank you! More than 12 moves in my lifetime have hammered home the lesson that I need to prepare to move again and less stuff is better than more. That being said, I have about 300 pounds of reference books because I don't like to lose my references when the power goes out.
You nailed it, I don't care about society points, no car payment, rent,every bill and fee is under $1000 , I still have nice things and I eat well, and that 25k a year to maintain a fake social status isn't spent. I have well over 1500 in disposable income that I can invest or blow on whatever makes me money.
I’ve been dirt poor but always managed to avoid pay day lenders. Got out of rent trap with 1st time homebuyer loan that only required $2000 down for a condominium. Kept old cars going with my own tools acquired over the years and knowledge from TH-cam. I’ve fought off alleged creditors pro se. I’m in a better position now, but to do so I had to become my own mechanic, my own lawyer, my own nutritionist and doctor, my own financial advisor, my own vocational trainer, my own therapist and, yes, even my own surgeon. And yes, all of this competence came at the cost of my time.
One more thing that I experienced. When I earned less, I used to spend significantly bigger amounts on travelling and vacations, mostly because the place I lived wasn't very pleasant. Now I live in a much better neighbourhood and really feel comfortable at home without an urge to always run away for holidays
I apologize for what I said yesterday. It ended up sounding so judgemental & that's NOT how I meant for it to sound at all! To travel is to experience new places, people & ways of life. It means you were truly living & not just going through the motions stuck in a rut that so many find themselves in. Every day looks the same. You go to work, you come home & the most excitement you experience is in the worry of how you're going to pay your bills & keep a roof over your head & food on the table. I would've loved to do more traveling but there was just never any money for it. It took everything I made & then some just to survive. I did drive a tractor trailer across country for about 8 years when I started dating a truck driver so I was able to see places I probably would never have gotten the chance to see otherwise & I LOVED it. I'm glad you had the opportunity & the ability to live a little. I think it's a shame that in a country like ours that so many people work their butts off for such a small amount of money that they never get to do things like that. So many go their whole lives & never get to do or experience much beyond working & struggling & that's sad. I never really cared about being wealthy. I just think everyone who works should be able to pay their bills, keep a roof over their heads & food on the table & every now & then do something fun, like travel. There's really no reason why that can't be by other than greed by those who have way more than they could ever possibly need in their lifetime.
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I work as a doctor in a rural health clinic. Working closely with an underserved population. This is such an honest look at predatory business practices. I truly admire 2 cents for approaching this topic.
Supermarkets Walmart were Forced to aviod poor neighborhoods. To save ma&pa stores remember it was big campaign. On how destroy small business
Thank you for your work. Sadly lots of doctors completely abandon rural areas for higher pay and access to more amenities, ending up in big cities. It's becoming a real problem.
I work as a tax collector in a poor area of a major city. There are many thought traps to which people in poverty fall victim. Thing they mentioned about convenience stores is absolutely true. Predatory lending with regard to payday loans or instant cash loans in pawn shops is also true. But what about tattoos? Some tattoo shops advertise that financing is available. I honestly can't think of a worse financial/life decision to make. Not only do these people want to eliminate their opportunities for well-compensated employment by getting tattoos (in many cases) in places where they're not concealable, but they want to pay high interest over time on something they don't actually need? Also, what about the health risks? At what point do you say it's their fault for making bad decisions?
We have google
I would agree that the title loans and the cash advance loans are definitely predatory, the credit card system and the banks not so much. It is less about being predatory and more about security. Security in the sense of how sure they can be that you will pay them back or not go below $0. A checking account is not a credit line. I do agree that overdraft fees have gotten to be a bit extreme, but they are meant to be a punishment that incentivizees proper use of the account. The bank that issues the credit card has to believe that there will be a likelihood of the debt being paid back. If they gave the higher APRs to those with top level credit those people wouldn't bank with them at all. The only credit cards that I would call predatory would be the ones that require a pay in at the beginning and carry an annual fee and interest rates above 25%.
Wish more people would understand this. When I was growing up, we were so poor I was malnourished and we regularly had to choose between food, a utility bill or a loan payment, so I hate it when I see people who have never struggled say things like "Just stop being poor" or "Poor people only have themselves to blame". Unbelievable.
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some poor people do, some dont
The thing is poverty is a complex issue and trying to simplify it has bad results
I mean if you’re poor and you still have kids then you just made your situation 10 times worse. That’s on you.
@@mrpablomx aand thats why birthrate has crashed to 1.4 and we have imminent population issue in most western countries lol fuck boomers
I used to have to live like this, and let me tell you, it's hard to escape poverty. When I did, It took me at least two years to recover financially. It sucks
I hope you’re doing well now
It took me like 7 years to escape, luckily i learned how to live with so little that i am able to save like 70% of my current salary
You did amazing-congratulations! Sending you love and support!
@Charles Cute, another take on "poverty is just moral failure".
I'm just getting out from under, ironically because of the pandemic. Now I have survivor's guilt. Yay.
Everything costs more, so I ask for a raise, but then companies raise prices to cover their costs, and here we go again!Feels like a hamster wheel, going nowhere fast.
Knowledge is power. Research your industry's average salary and be prepared to negotiate for a raise that reflects the rising cost of living. Strong data makes a strong case. Personally I gave up on the raise and started chasing supplementary income via bond dividends and stocks.
Inflation has turned the stock market into a terrifying ride. So I hired a fiduciary to be my investment compass. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.
I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor??
Google Sonya Lee Mitchell and do your own research. She has portfolio management down to a science
I ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
Wow. This is your first video that made me sad. Still great content that most avoid talking about.
Taylor B. I thought I was the only one that felt sad.
We get it. There's important and hard things to talk about. Thanks for engaging with it and hanging in there with us!
Two Cents I feel like every high schooler should watch your videos! You guys truly talk about finance and the how the big world works. Sadly to say, high school doesn’t even bother teaching the kids the important things.
I still can't get my head around paying for a Dr visit. No matter how many times I hear about the US healthcare system
Thank your for this video. Someone who I work for claims that poor people would not be poor if they only “worked harder”, I wish they could see this video and maybe, just maybe they could see the world through a different lens.
Again, should be required as part of high school education class.
We think so too!
they won't though. it's a shame
I think a lot of politicians and decision makers would get value from this too.
@@Cochise954. Just do what we do at our school. We teach our students these sort of things during our tutor classes. Short videos like this is perfect to get a class discussion going.
It made me think I'm in the wrong line of business. 806% ROI? Fucking hell. That's what I make, but without even a fraction of the hard work. I need to open up some -loan shark- cash-checking places. I'll put a bullet proof glass and a Mossberg 930 in each one, knowing what kinds of neighborhoods we're talking about.
When I was a kid growing up poor, it seemed like my family was the only poor one in the city. Now that I'm an adult, I realize how many people were actually just living "for show"...
Yeah there's alot of people in nice suburban homes, but in reality many of them are constantly struggling and have 90,000 or 120,000 in mortgages. That's poverty in the US. Modern day slavery.
@@Victor-tl4dk They are called “House poor”. Payments on the house take all their money plus property taxes, insurance and maintenance. A leaky roof is a major catastrophe because they have no extra money to fix it. If it goes unfixed it can cause more damage and lower the value of their home. Plus it could cause your house insurance to be canceled. People believe they own their homes. But try not paying property taxes. The city will foreclose on your home and sell it to recover their unpaid taxes. So did you really own it if someone can take it away?
@@garyfrancis6193 nope, I find property tax very hypocritical. But they do need money to maintain the surrounding lights, sewers, and streets, fire dept., etc. Imagine 40 homes in a neighborhood, but no one to tax. Then those people are leeching off the city.
I think property taxes should be as completely limited as possible of they exist. They frustrate me.
@@garyfrancis6193 god imagine we could just live. have houses. wtf lmao.
@@garyfrancis6193 yes correct it is commonly know that a house is not an asset unless you are generating cash inflows if you have cash outflows from said house then the house they think they "own" is a liability not an asset.
My parents opened a credit union account for me when I was 8 years old, encouraged me to get a job as soon as I could (age 16) & wouldn't let me get a loan for my first car. I had to pay in full (even working minimum wage part-time it only took about a year to save $4,000 for a reliable used sedan since I was just a teen living at home with no real expenses). I left home with a used car that I fully owned & a bank account. I'm 27 now with a little family of my own. I've struggled at times but I always had a debit card & a car to get to the cheapest stores. I now realize those two things were the best things my parents did for me.
You are doing very well keep it up!
Have you started investing yet? Get a tax-free investment account going for your kid and teach them to put in 50/week in index stocks. They'll have quite a bit after they're 18.
@@GangsterWu No, I have not. But I'm open to ideas! I'm nervous to do anything tied to the stock market.
Have you looked up Dave Ramsey? If you haven’t I suggest you follow him he hasgreat money videos
I have a young friend who just turned 20, lives with her parents, and saves pretty much all of what she makes. Some might say she is spoiled, but I'm proud of her determination to save, and her parents' forsight to help her build a good foundation before she leaves the nest. We didn't all get that, but that is how it should be.
So many people dont undetstand this! Poverty is a deep pit!..great video
They sure don’t. Especially when they say ‘live within your means’ it’s not that simple and it’s easier to get set back. They think canceling Hulu means all their money problems are over. This video hit a good point on the time is money part. Can never get my friend to realize how a car is helpful and saves time.
@Johnny Guillotine Thought of starting a non-profit? That way you can do more than 2 people a year and not hurt your family. Maybe even fine another person who can help with the workload to help even more.
Hadn't Jesus already taught that in the parable of talents? Haves will have more, Havenots lose the little they have. If you ask how can you lose the little you have when you already have nothing to lose, well, the little you have is either borrowed or stolen. You have that little, but you don't own it.
True words ...i tend to get frustrated a lot with my mom and dad because they keep putting this excuse "this is all we can do , it's not our fault we are poor" but at the same time they don't keep any budget plan , they just throw money all ways . They have a huge debt to the bank and they literally don't know for how many years ahead they're going to pay , i even asked them about this and they always get defensive . i'm currently 18 and pray to God that i will do things differently , i'm tired of living like this .
It affect mood, health, crime, etc. So sad that the richest country could let this happen. Did you know Amazon paid no federal tax? While they want to cut food stamps. Wow so heartless.
I lived in a Motel for a year and waisted $25,000 because I wasn't making 3x the rent to get approved for an apartment. I finally found a room for rent but this video is 100% accurate. When your born into poverty you don't have many options. My mother was poor her mother was poor. It's hard to climb out of that when your own family doesn't know how to save money and lives paycheck to paycheck your whole life. That's all I know so it's not so easy to just get rich
Can't you take a loan or find someone that doest need 3 months down explain your situation something wasting 25 k on a motel when your already poor sounds ridiculous
Yeah than watch some finance videos learn to spend less for a while and work more hours invest in things like the s and p 500 after grinding for a few years you can probably back off a bit and not work as much but you should be set up well
If your living paycheck to paycheck for live you need to realize it is a issue of your habits and view of money
What would you suggest for a practical way to get out?
@@DugrozReports how would he answer that? you would need to give more details. If the problem is the 3x rent thing you could look for some kind of short term loan
I’m glad you guys talked about the mental/emotional trauma being poor can have a on a person. I grew up poor and escaped it as an adult. Any major expense still scares me because I associate money with safety. The things you see and experience as someone truly poor stay with you for the rest of your life even if you escape the cycle of poverty.
Ikrrr
I have such a hard time deciding what to spend money on even when I know I really need to because I’m terrified that I wont have it when something inevitably goes wrong. Also, even deciding what to prioritize is hard
I'm so glad you also mentioned how time consuming being poor is.
It is exhausting
They didnt mention that this is very limited in western countries. Its just USA.
But of course. USA is their world
@@slampest : No, it’s all over the world. Many countries do this
@@slampest true, none of these points they mentioned are true in my country here in Europe
@@stevenliang3213 Not other developed or first-world countires. The US is unique among those - essentially for most citizens it's a thrid-world country wearing a Gucci belt and shoes.
The best analogy to describe poverty for me was starvation. People often look poor people and wonder why they just "throw away" their money on lottery tickets, scratch-offs, etc. But when you don't have the cash to support basic amenities for yourself, your perception is totally different. It's the same feeling you get if you've ever gone an entire day, or even half a day, without eating. After a while, your stomach hurts and all you can think about is food. You can't enjoy anything, you can't pay attention to anything, you just need to satisfy that hunger. Poverty is the same way, only with money. If you don't have it, you *constantly* feel the stress of not having it, and you'll do pretty much anything to satisfy that need for financial security.
That is actually not correct at all and your statement also implies that poor people are more likely to commit crime to get money which is also totally wrong.
Did you ever not eat for a day or more? Your body will stop telling you that it is hungry. You will feel the hunger once there is food in reach or when you anticipate to get food soon.
Poor people are concerned with getting by day by day but they are most often more likely to help others out than rich people. Most poor people stay poor because they cannot break out of the confines that the society build around them, in other words because they stick to the rules imposed on them.
@@phelanwolf6747 shut up wolf, u clearly never know what it's like to try ur hardest everyday, to risk everything u have, and still never be accepted, and not have enough. And yes poor people are likely to commit more crime, not because they are morally wrong or think a certain way, but because what they are doing isn't working. Money don't buy happiness but a starving person isn't a happy one.
I feel that stress
Wyatt Stevens I was homeless at age 18 and now I have over $420,000 net worth, own 3 rental homes, an make around 200,000 a year, due to a business I built by myself (and later that my wife also helped build). Getting out of poverty can be done if you’re smart
Wyatt Stevens from what I’ve seen, the problem is that poor people don’t understand what “opportunity cost“ is. They don’t realize the value of their time and money. They don’t realize that time is money. They don’t work in their free time, to develop their skill set or build their own business so that they can make more money later. They don’t realize that you need to work extremely hard, 80 hour weeks and living on beans and rice, to get out of poverty and save up money and invest that money. Once you’re comfortable it’s easy to then get richer and richer. Trust me I know. But the initial year getting out of poverty is a giant suckfest that most people don’t wanna put enough effort into
I've lived below the poverty line. When I was in college, I lived with three other guys and we all paid about $300 p/m for rent. Two to a room, scraped by with barely enough to eat. I now do much better for myself financially. What's really interesting is how the rules change in either direction. When you're very poor, the system essentially steps on your neck so you need to claw your way out (see the years of my life between 2015-2018 where every meal I bought for myself was from a discount grocer and consisted of mostly salt. Also, at one point I was sleeping in my car because I couldn't find a place I could afford to live.) You REALLY gotta work for it.
What's equally interesting is once you hit that threshold, it becomes INSANELY easy to avoid taxes and a bunch of new rules apply. E.g., I started a side hustle doing dogsitting. The money isn't very much, but it puts miles on my car so I can expense part of my car on my taxes. Since I use the car partly for business, I get to write off repair expenses. I had to fix my transmission to get to dogsitting appointments and that cost me about $6,000. It became a write off. So that job that maybe pays me $100 became worth significantly more since it allows me to write off part of a transmission repair (depending on what percentage of the car is used for work). I can write off almost $30k in income between a 401k, a traditional IRA and an HSA.
Basically, the name of the game in America isn't "How much can I make?" It's "How much can I keep?"
Agreed.
I think your college experience is one that many people share. And it is alright. Many young adults who don't need money so badly do not bother to make any or save any.
Our system is also stacked in favor of people who make a lot of money. I don't have much sympathy for ppl with multi-million dollar homes who don't think they could or should pay more to benefit their fellow man.
Of course, our govt often does a poor job of using the money wisely. But, giant houses, wildly luxury products and extremely expensive vacations isnt using it wisely either.
Voters are ultimately responsible. But, they watch TV and their minds are filled with shocking news about untrue or dramatized politics that make them blind to real issues that we could be tackling.
I don't know what the solution is. We as adults need wiser adults to help us. Unfortunately, thise don't really exist.
“The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness.”
-Terry Pratchett, Men At Arms
Good one. Unfortunately I had paid heavily for a pair of hush puppies that didn't even last six months of delicate use.
Unfortunately the standard of money vs effectiveness or quality has gone Down hill. It is the brand people look at. You can have trash eith that brand and people will buy it.
@@InvaderTak176 Supreme bricks.
But the poor man can only afford cheap boots because he feels he deserves a big TV, the new iPhone, big gold chains to show off his "wealth", lots of tattoos for attention, huge tires for his truck or expensive wheels for his "whip". The first things he gets with his paycheck are a bag of weed, cases of beer, a carton of cigarettes, that new game for his Play Station; and if there's anything left, he thinks about his bills and necessities.
@@Truthist1776 Fuck off with your victim-blaming strawman bullshit.
I'm never going to moan about being 'broke' again. A great video, and eye opener.
Ben Ridsdale Same I am more grateful for what I have and if I learn to keep budgeting well hopefully I will never actually be “broke”
As somebody who grew up in the hood and made his way to the middle class all I can say is fuck these two and the horse they rode in on. You can tell that they're butter-bar middle-class dipshits who believe that the working class and below are too disgusting to even visit or interact with because had they done so they'd have realized what a load of baloney most of this video is!
@@UltraPenguin720 No
wiggle room
I thought I was broke because I was immigrant it good to know I’m not the only one thanks America 🙏🏿🙏🏿
The animation was truly marvelous. The subject matter was really good. Keep rocking.
Thank you so much!!
I’ve tried to explain this to people with even relatively modest incomes who aren’t rich, but aren’t struggling either, and it’s hard for people who are even just two missed paydays away from being in this situation to understand how tough it really is to claw out of it.
Yes.
As a society I think we should consider using the govt to intervene with many more families who are unable or unwilling to raise children into adults who have a reasonable chance to be happy and successful.
So many children suffer from a bad home life that cripples them for life. This goes on all the time and our current system rarely gets involved.
@@jamisojoHow will this fix anything?
Your content is truly amazing. Very few educators have taken on or even tried to explain the real struggles faced by low income individuals, due to their basic misunderstanding of how large those hurdles can be. I have shared your video with some of my contacts within the public health field. I regularly meet enthusiastic public health professionals/students, and a few years later their enthusiasm has changed to cynicism. Their passion to help turns to frustration working with the poor due to the poor's cylindrical bad decision making, many times for the very reasons stated in this video! I have done my best to try and explain the financial hurdles that the poor have to overcome, but this video covers many of their obstacles concisely and compassionately. Well done.
What amazing feedback. Thank you so much for those shares. And I can totally relate with the enthusiasm turning to cynicism. I've worked a bit with some vulnerable communities and that's so accurate. I think compassion is the only real antidote. And compassion sometimes takes work. Thank you for what you do!!
Shame on the school that don't teach this to kid
you're in public health? where? i also work in public health in a large city with high rates of poverty and this is something i'm training my field staff to be aware of when they are working with our patients and clients
Honestly, I've learned more watching TH-cam videos than the actual education system
And yet my mom still says *i don't learn*
tbh, i need to see more classes on life in school
Yep, same here. Our system is broken. But that’s how the elite want it. The more dumbasses there is out here, the less people that will climb to the top and take their spot
this is our education system now
🙄
The hardest jobs I have had in my life have paid the least, while the easiest have paid the most… maybe just my experience, but poverty for me always seemed to make make me work much much harder for much less money.
Probably how it should be
@@Pisschangoatsmeller bruh
Yes, that's unfortunately typically how it is. That's why CEOs are rich and farm workers usually aren't.
@@Roecleanditto!!
@@EndPoliceBrutailty Last November when I was on vacation in Korea, I learned South Korea has a good system where because of government incentives the farmers are super rich.
Watched my pops live this kind of vicious cycle after divorce, completely heartbreaking as a teenager to realize it was too big of a hole for him to dig himself out of in his 40s, then he died of cancer and the hospitals barely tried much because no insurance or money. I vowed to never let myself get in that trap, and today I am far away from poverty but I had to become so good at what I do and jump many different jobs in my industry and still drive many hours a week to keep this lifestyle. It sucks having the commute but I know the alternative is far worse.
I've seen normal people go insane after they realize their lives are over. No job, no money, no friends, no nothing but debts, bills and even jail. It's not hard to imagine why there is so much despair out in the streets.
@@ZaKRo-bx7lpalso being hard working person getting crushed by life making one's effort pointless is crazy traumatic.
@@mlekosojowe7312your effort is not pointless that's just a dumb mindset.
This is absolutely true for those in urban areas, but theres a completely different type of poverty in rural areas. Cars are an absolute necessity in these areas which leads people to purchase unsafe vehicles just to have any access to work or groceries. The lack of jobs in rural areas leads to excessively high commutes and children left in poor care if any is available at all. Utilities and services can be expensive or even absent such as trash service, internet, or specialists. There usually aren't universities or colleges within close commute so higher education costs more to those able to put rent on student loans. Those that have dependents or are otherwise unable to secure loans are hard pressed to improve their situation.
I grew up in absolute poverty. The issues of rent was less of a concern than unsafe/inadequate housing and lack of transportation. Being poor in a rural area is isolating.
Kozickih yes, rural poverty is worse than urban poverty based on lack of public transportation. It’s a vicious cycle that can’t be broken easily.
I got out, but that was thanks to student loans. I was smart enough to graduate from a University and secure a good paying job, but I’m still paying off the debts from student loans, and other credit cards that were not paid because of it.
Oh wow, I'm grateful I saw this comment. This is a whole new perspective I've never thought of. Thanks for shedding light on rural areas
I haven't experienced this myself but I've heard a lot about it. Many rural communities have just been forgotten and left to die. Some places don't even have functional sewage system. It's horrible and I feel bad for the people that have to feel it in their daily lives
@@CardsNHorns04 Urban poverty is just as shitty and complicated
@ɮօʊռċɛ օʄʄ Way too expensive
This time last year i was homeless. Now im im my apartment..rrent is paid..bills are paid. My refrigerator is full. God is so good.
What advice would you give on how to survive if times were tough for a single mother with several kids
I'm so happy for you
That's great news....and I'm glad you feel like god is good (at least to you anyway)
So happy for you! God is definitely good
God isn't real. You are responsible for your own actions.
Been there done that. I grew up poor and was poor though my 20's. I quickly learned all the things you covered in this video and more, sometimes the hard way. Being poor is a skill. Growing up poor gave me an advantage over kids who's parents had a little money to spoil them but had to make it on their own after leaving home. Having an unreliable partner is another risk and can create an unlimited liability. If you are poor forget "hot" or "fun" until you find yourself a "reliable" partner who is smart enough to avoid all these traps and willing work with you, not against you.
Well said.....most people ignore this fact
Yeah, it's sad to see friends wake up from their puppy love, only to find themselves deep in the shit financially and mentally.
@@westenev When your partner is unreliable it not only shows they care nothing for you it means they don’t care about anything or anyone. I used to think they only cared about themselves but they can’t even manage that. If something bad happens to them that just produces a bit of drama so they can feel alive for at least a few seconds.
Good point on the "unreliable partner". My wife and I are on the same page looking at costs. We don't fight over money and we spend carefully. We aren't rich, but we are comfortable because we were BOTH careful.
@@frankcoffey your describing me
I’m probably in the upper end of the lower class scale. Not wealthy at all and have several financial troubles, but do have some wiggle room. Can only imagine what it’s like to live like that. Anyone who is experiencing this right now. Stay strong!
This was eye opening on how I take way to much for granted
Chen's I cant believe, give a UBI to poor people. It’s ironic, but it works. The UBI should be a few thousand dollars, at least between 1000 USD and 10,000.
UBI is just gonna make rents go higher
@@Zymru Price ceilings.
@@cowsteal3780 If you fix the price of rent, it reduces the new home construction rate (supply), the population will increase over time, and housing runs out.
Yup, this is normal for my family
I am in a lower class financial bracket and this made me tear up just thinking about those who are in a worse position. I am so blessed and there's always someone that's got it harder. Thank God for what I do have.
Shout out to all the low income parents doing all they can to give their kids the best life possible🧡
Don't have kids if you have low income.
@@TomsBin then don’t be against abortion when the condom breaks or that 1% chance that birthcontrol failed.
@@TomsBin Yes!
@@TomsBin "Don't you dare have kids if you're poor"
There are a lot of people that lived in poverty but their influence on the society was enormous
@@factory_enslavement We need poor people to operate as a capitalist society, but that doesn't excuse raising poor children in bad conditions.
Sounds like I should be more grateful for what I have.
Yea, to yourself, because you earned it.
That is actually a good mindset to have. Being nihilistic gets nothing done beside making you stuck.
@@CrimsonEclipse I'm Nihilistic, but optimistic and I think the same way as him, being like that doesn't mean that we throw our life away Completely.
Everyone has to find their own way to life I guess.
░▒▓█▇▆▅▄▃▂Gous▂▃▄▅▆▇█▓▒░ that is actually a contradiction since a nihilist thinks nothing matters and there is no hope. Maybe you are talking about being realist, or pragmatist.
You can see the bad things and criticize things but that actually doesn’t make you a nihilist.
I write in my diary book app each day why l'm happy, and all the things l'm happy and thankful for to have in my life. It cheers me up😁👍
I'm glad I didn't grow up in poverty. I always had enough to eat, my clothes were clean and I even had my own room in my family's home with a garden. So it really wasn't bad. However, I remember my parents struggling to pay our bills as they had to pay back the mortgage for the house. Because of that my sister and I didn't have fancy clothes, a trampoline or things like iPhones. We also ate out about 3 to 4 times a year as a family apart from vacation which, fortunately, my parents always saved money for. Every year we went to our neighbouring country Italy and spent 5 to 7 days on the beach. There, we ate out every evening which was always very special.
My parents did their best at getting us everything we wished for. They scraped every penny to pay school fees for me and my sister for us to receive an advanced level of education. Thanks to them my sister and I were both able to go to college and graduate.
I'm incredibly thankful for my parents' sacrifices. However, my childhood will forever be a reminder not to have children myself unless me and my partner can provide them a more or less carefree childhood. Because that's something my sister and I didn't fully have as we witnessed money troubles all our lifes until we finally got reasonably paid jobs ourselves.
I just stumbled upon this, and Im glad I did.
Extremely informative yet presented in a non-boring manner.
This needs to be taught at middle- high schools. I didn’t even learn about this until college. And it saddens me that these basic concepts aren’t taught so people can actually understand how life in poverty is.
The reason they don't is because the test publishers' investors are more important than anything else in what passes as education in the US. Learning how to budget is not on the standardized tests.
The reason why you're not taught this in school is because this is a big f pile of crap. A video full of lies and that treats the viewers as stupid gullible kids.
If you are broke don't f use credit, use just the debit. Whats the logic? Aw, I can't afford things so I'd better borrow money? People don't calculate if they can pay the money back?
If you don't afford a bank account then don't get one.
And f no, 3% out of $20 is not bigger than 3% out of $100 wtf. (3% out of $20 = 0.6 ; 0.6×5 = $3;) they make it seem is 15% out of $100 when summed ($15).
Fair credit VS good credit, are you insane? Why in the hell we talk about credit cards when we talk about people having problems surviving?
All this bs is not the solution, it only brings more poverty. You give them more money, they will just spend more recklessly. It's been seen again and again with lottery winners, in no time they get back to where they were because they don't have the discipline and they don't make good decisions.
Aw you work 12 hours a day 5 days a week and you have problems surviving?(most likely you don't, but for the sake of argument) you want more? You still have 12 hours to read, to hone a skill, to take classes to become better so you can have a better job, use the weekends. Change the people around you, don't waste time with losers that spend their nights and weekends drinking and benching Netflix, or simply doing nothing.
Crying about it won't help you.
Being gifted more money won't help you.
@Austin Martín Hernández its exactly the same thing. Its more money out of a sudden that you don't have the discipline to use it the proper way. You will simply spend more, waste more, and end up on no money before end of month or have problems with rent food w/e. The analogy isn't about the sum of money its about being reckless and undisciplined.
And about the work hours. You want a f better life? You gotta work. More of the same brings you more of the same. With 40 hours a week only doing your part you won't get anywhere. You'll just stay where you are. If you think life is a journey, and you waste 3 hours daily on cooking and cleaning then you have your answer for being poor. That is 21 hours a week on cleaning and cooking. Half the work program. That is being an idiot and wasting your life.
I didn't see you comment on their f 5th grade math problem and on the fact that they take it for granted that broke people should use credit cards. Anyway all of their points are void and purposely misleading. But hey, the truth isn't pleasing, people don't like being told is their fault for being losers. It's easier if you blame some invisible enemies that just work 24/7 to put you down. And keep you poor. Its not your fault don't worry.
Will never happen.
I have taught my middle school students the basics. Credit/debt cards, loans, cost of living, etc. Now whether or not they are listening and taking it all in is a different story.
It sounds like they are talking to us as if we were teenagers, but I’m 33 and just now learning some of this stuff.
How would it be different if they'd talked to adults?
@@tomlxyz It’s the background music and ultra expensive facial expressions that make it feel like a kids show.
And this is exactly why this information should be taught in High School
I thought the same. they look like mom and dad
I'm 3 years ahead of you and I wish I can retain this stuff plus I recently had a head injury been drugged and accidentally drunk
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I'm in a good position financially now, but the scary thing is you never know what could happen.
Totally
@DATING HARLEY QUINN that sounds like most people won't go through that but sorry you had too
@DATING HARLEY QUINN Sounds like daddy's money. Personally I've been poor and I now have enough that I'd never need to work again. I know which is better. Someone who was born with gold up their ass don't.
Exactly!
DATING HARLEY QUINN
Wouldn't you say that there's a happy medium where you can have enough to live comfortably, but not enough to buy a rolex or a Bentley, and therefore probably not need bodyguards, that would probably be close to $100,000 for most parts of the country, and somewhat higher for some of the more expensive parts of the U.S.
When I was about 5 my family was dirt poor, There were some days we couldn’t eat some nights but now I am 14 and we have a decent amount of money and I am VERY grateful for it
athebeast 17 lol broke sksksksksk we own restaurants, nightclubs, shops sksksksksk ayyyyy
athebeast 17 I’m sorry you had to go through that!
So happy ya'll are in a more solid place now!
You guys are way more realistic than the financial gurus I've bumped into on youtube previously. Thank you!
Vanessa Bayardo this maybe realistic but it’s isn’t helpful on a finical level. More like excuses and validation for feeling trapped in the system. Realistically people should be aware what they have and what they can spend. If you have less than $1400 in your bank account as a adult there is something wrong with your life and it needs to be evaluate. If you are a college student you won’t have that kind of bank fee on a college bank account.
@@CrimsonEclipse So you're talking about realism but you're arfuing from an Idealistic viewpoint? Seems inconsistent, if you want to talk about realism then bring up empirical arguments, don't just talk about how people or things "should" be.
@paperinkglue true.
paperinkglue you spoken like an ignorant person. Truth be told I grew up poor than most so called low income American since I actually grew up as a legal immigrant with parents who were uneducated and worked minimum wage jobs and less than minimum wage all their lives. I grew up in a poor neighborhood and what I noticed about typical low income Americans is they have bad spending habits. My family couldn’t get welfare or food stamp since we weren’t citizen. I notice poor children in America are actually privileged. Americans complain a lot and Americans likes to trap themselves in victim mentality. Also many lack poor life skill since they were born since.
If a poor immigrant family could overcome and have a savings account so can you.
Mario Perez it’s basic math but I guess you guys failed to understand math. For one even I grew up poor and from a immigrant low income family who’s parents work minimum wage jobs majority of their live. I’m a first generation immigrant. My family didn’t qualify for welfare or food stamps but I knew many low income Americans since I grew up in a poor neighborhood. I learn a lot about saving money from my family and learn how to manage with what I got. I also notice most American are accustomed to debt and excuses. I see many lack resilience and self-responsibility. It’s always someone else’s fault. America is the freest country in the world you guys don’t know what is poverty, you guys don’t know what is struggle. It’s close to impossible for an American to starve to death since you have so many charities handed to you. The only time I seen a starving Americans is when they are a drug addicts and/or a neglected child. You guys have the fattest homeless people I ever seen. Even homeless people can’t starve to death since government and volunteers feed them. I swear the major problems most homeless are dealing with is mental illness. Most Americans have so much self doubt.
My uncle always said. If you are smart and hard working you can achieve anything. If you are dumb and hard working you will do ok. If you are smart and lazy you will get by. If you are dumb and lazy you won’t survive. He also said a dumb and hard working person will do better than a smart lazy person since a smart lazy person will under achieved. It’s about the willingness to try.
If you never try you will never get anything done. My uncle survive a lot. He survive the worst famine in history, survive communism, he worked since he was a child and he could barely read even now. He came to America with very little money and started a decent life in the US. He was a bust boy and dishwasher but later on he learn, developed and grow and have a decent life based on his skills, talents as a jeweler and work ethnic. He later on got marriage with 2 kids but his wife was a gambler and a cheater. He divorced his wife but she took the house, money and everything while he has 2 young son to take care off. One of them was a toddler. He was still paying his ex-wife’s debt which was in the almost half a millions, since his name was jointed with his ex-wife. He continued to work and got himself back up and built his life all over again. Now he owns his own jewelry shop and his 2 son’s graduated from college got decent jobs. I told him he had a very hard and tragic life. He said there is no point to feel sorry for himself. Humans are tough. If you have will power you can easily survive anything. Worst thing a person can do is feel sorry for yourself since you gave up your life by choice.
About realistically of money management and finance. It’s basic math, additions and subtraction. You count how much you make each month. Line up your monthly expenses. You divide it up into categories. You figure out a budget plan and make budget cuts. Sure it feels hard but it will feel better on the long run. Depending how poor you are and which city live in you can qualified for subsidized programs to pay electricity bills, and rent and even internet and cell phone bills. Again that is just depending on your household income and city. If you don’t qualify for it, it is not the end of the world. If you worried about not having food you could volunteer at the food bank. They give all their volunteers huge amounts of good quality food as compensation. Doesn’t matter if you aren’t low income. Many college student does this to save money for food. An hour of your time for a weeks worth of food.
If you are single you have no excuses. Single people has the best situations they don’t have to take care of another person. Even if a single person work a minimum wage job they can get by with life. A single person can also move anywhere. If you still live with your mom you even have less excuses. If you whine and complain how you have nothing while living with your parents it’s a personal problem.
It's really easy to miss or forget how fortunate you are sometimes, and this video puts that into perspective. Apparently we used to be in a similar situation many years ago when I was like 3 years old. I don't remember, but my mom tells me that simply going to McDonald's with me and my sister was quite the expense, and I remember that quarters were so valuable to us because we used them at gas stations to pump our tires. While we're definitely not wealthy now, we are in a much better place and are able to spend a bit of money on ourselves every once in a while, and every time I can I'm very thankful for that.
I'm personally broke, but I'm very fortunate to have never been poor. If it wasn't for my family, I don't know where I'd be today.
This is very true especially in place with poor transit systems.
Takes years to dig out of that. Taking bus loose 1.5 hrs to make a trip that would take 20-30 in a car. Living with someone else to make cost of living cheaper have no utilities in name.
Need groceries for 2 weeks cant hold them while holding onto bus rails so make multiple round trips trying to eat healthier or pay someone $20 for gas money and time to drive to grocery store.
Want to work at that job that pays more bus doesn't go there. Dont want to walk in sweaty from the half hour walk. So now try to get a loan from a good lender, not enough credit, no proof of long residency or income too low. So buy here pay here double price for car that needs to go to mechanic every month draining the little raise of pay you got.
Single parent can't afford day so have to work multiple part time jobs to go between friends and family who rotate watching your child so government doesn't take your child.
Being poor and not having family or friends who can teach you how to get out is a drain of life source. The list goes on and on. Some people buy stuff just to give themself a thank you to say all this loss of time wasn't for nothing. While some are just impatient and delusional and spend all their pay check to put up an image.
It's so true. I've taken public transit as my main method for several periods of my life. It absolutely DEVOURS your free time, making it hard to get ahead, build a "side-hustle", go back to school, etc.
@Carlos Masso That is awesome!! Hats off to your family. There are many people who start off poor but use their time and talents to make a better future. Just annoying to hear people say people are poor by choice when people poor takes away the luxury of choosing most days. Getting out of poverty takes drive, determination and most times. I myself came to this country as an immigrant by. Lucky to have gotten a scholarship, rode a bicycle I bought for $100 to not rely on the bus as much. Worked in landscaping, arboring and website hustle until I finally got hired 2 years after graduating from college as software developer. When you dont have money all you can trade is time and effort. Throughout those two years of overdraft fees, bad landlord and constantly taking car to mechanic and pawning stuff to make the rent and still pay late fees plus court fees, managed to still study and work towards things. I knew I was going to loose time to get where I needed to be so It was either going to make it count or count my self out. We all have choices and we are never defined or limited by our current state.
@@TwoCentsPBS thank you for your great and down to earth content very relatable and easy to understand and mentally digest.
As it relates to time that was the most annoying thing to deal with when I didn't have the income Inhave now. Time and choices are so limited when you are in poverty. You get so frustrated and overwhelmed with all the decisions and cuts you have to make till the next pay check plus Sallie Mae and the gang garnishing paycheck and taking tax returns, overdrafts should be illegal I woke up on day to $175 of overdraft fee on a Tuesday I just stopped dead in tracks and cried thinking about how I have to look at my wife and tell her we have no money and may have to paen our electronics or rings. I am so happy my wife and I made it through but we used to lay in bed looking at the ceiling like this feels hopeless but we can't waste our days away so let's keep doing this loop of insanity until something different happens. And sure enough after many interviews, late nights surfing and applying, multiple attempts at MLMs and side gigs. Little by little positive changes started to happen.
I've had to take the bus too, but there is a way to make lemonade out of those lemons. A library card is free, and that's time that you can spend educating yourself to get to a better place emotionally, financially, etc.
Read a book in between transits. reading is never a waste of time. Knowledge is everything
This is why I hate when people say “Money can’t buy happiness”. Money provides you so much comfort, security...so YES that would makes me happy.
It buys you choices - you can then choose to be happy. But many don't
They just don't know how to use that money.
I think all they mean is, being rich won't make you truly happy. Having the option to do what I want would make me happier. I would focus on fitness, and learning skills, and less on making money. But for example, car companies want to sell you on getting the fancy car to be happy, whereas if you just have a reliable car that is comfortable and safe, you've got the security and freedom covered, so you really don't need anything fancier to be happy. I forget which study it was, but basically, after around 120k a year, the reported happiness reported levels out. In other words, someone making 130k, and someone making ten million a year could have the same level of happiness in terms of money.
@@kristoferhutter3873 I agree to certain extent but having money doesn’t mean I would go and buy a toilet made out of gold or spend $$$$ on designer t-shirt, fancy car... but we can’t deny that money can make your life easier, safer and happier Example, we are in the mists of Covid-19 pandemic. If I have money, it would allowed me to buy / rent a home that come with garden, pool, gym, ocean or mountain view, some place where I feel safer and just relax . If I don’t have money, I am stuck. Got to go to work even if I don’t feel safe because I can’t afford to lose my job. Hoping I don’t get sick because of the obscene costs of medical bill. Can’t help others in need financially.
So rich people are happy. Right?
People really understimate the exhaustion of poverty, as someone slowly working myself out of it I'm thankful that you did this video.
This reminds me of a film quote. I can't remember what film it is from. "You didn't make good choices. You had good choices."
Googled it for ya, it's from Little Fires Everywhere
@limelight81 I agree. Good advice.
Which is bullshit, because in the book that character also had good choices. Her parents were going to pay for her college and continue to support her financially if she chose a field that had good job prospects, but she wanted to be an artist which her parents didn't support, and so chose to be a surrogate where she had a couple's baby for money, but then ran off with the baby instead and lived a nomadic life. She had good choices and screwed them up, and couldn't take responsibility for her actions until the truth came out and her daughter forced the issue.
@@razmiddle9410 Huh. Hadn't read the book.
Yo watching this video, it made me realize I got it good. I live like 10 minutes away from a grocery store. I have a car. I live with my parents. I have extra money to spend on video games and other things. I can afford healthcare. I'm thankful for the lifestyle live.
Me too. we’re so lucky. Most people in the world spend their lives in poverty and can make only a few dollars a day.
same bro 😖
and I also have 2 gerbils (mongolian squirrels)
Parents won’t let you stay there forever though. Trust me from experience. (They also could die… just being honest.) So you need to get successful and raise your income, soon. Start a good paying business or go back to college
You should also invest some of that extra cash.
@@charlesg7926 My Advice To You Is Go To Nevada Find A Brothel That Will Hire You And You Will Be Rich In No Time It's Legal In Nevada That's Why I LOVE Nevada It's Hard To Pass Up That Kind of Income And It Don't Take Any Real Skill To Get Into That Profession And The Set Up Costs Are Actually Pretty Cheap Too Not Only That It's A Job You Can Actually Get Addicted To 🥰
The concept of overdraft fees are a joke. You're being fined for not having enough money.
EDIT: The bank can simply decline a transaction if it goes into overdraft, instead it chooses to loan you money so it can collect the fine.
You are being fined for using more money than you have without agreeing beforehand with the provider. Going negative with no pre-planned overdraft is essentially theft, thoughtful or not
That's why I moved from Chase to a new bank called Chime. I don't have any overdraft fees, or any fees at all. Like when I used an out of network ATM, I was charged a fee, but Chime refunded that fee back to me.
That's why you don't overdraft.
You are giving the banks money to someone else. So you’re gonna pay for it.
@@TheMajorpickle01 , you can't use money you don't have. The provider "fronts" you the money for more in return instead of just declining the transaction. You referring to it as theft is comical.
This is my entire childhood. Growing up out in the sticks in eastern Kentucky there ARE no good jobs. There’s no high-paying office or warehouses or factories because companies avoid that area. I’m lucky enough to have made friends on the internet who went out of their way to give me whatever I needed to get my feet under me and still have trouble with important things like seeing a doctor or keeping the car in good repair.
It’s a glue trap. The more you struggle to escape it the more stuck you become. The system is DESIGNED that way to keep people desperate because desperate people are easy to take advantage of. Someone looking to get a BETTER job and/or who has a lot of money in savings is less easy to exploit (and thus less profitable and manipulatable) than someone living paycheck to paycheck or who’s been out of work for a while with no savings is gonna take whatever job is available, which allows corporations to offer lower pay and fewer benefits in worse working conditions. It’s like how wolves don’t prefer to chase down a healthy buck, they’d rather go for a doe or a younger buck that’s already got a limp.
*Well, that just sounds like slavery with extra steps.*
Eek barba durkle, somebody’s gonna get laid in college
sal 6942013 and all other cool numbers. Rick and Morty!
Capitalism in a nut shell.
*You son of a bitch, I'm in!*
Ha that’s a quote from the gay scientist on the....…………
Big-bang theory
I grew up low income, by the time I was 14 we were homeless because my mom was a drug addict. I seriously felt all alone and so hungry all the time but I wasn’t alone. Unfortunately a lot of people grow up that way under many circumstances. It’s not always because of drug use some people actually get it unfair and I’m blessed I have the opportunity to now help people like I wanted people to help me growing up.
True. Dave Ramsey goes over this really well, too. There’s 4 things that lead to people STAYING in poverty: 1) drug use. 2) not doing one of the following: not starting a successful business, not graduating college, and not going to trade school either. You gotta do at least 1 of them. 3) having a child before you’re married and financially ready. 4) not having a full time job.
If you avoid these 4 things, you’ll avoid poverty and/or get out of it within a reasonable amount of time, 99% of the time
@@charlesg7926 college and trade school cost money, and starting a business often does as well (and the vast majority of businesses fail) so it's simply not possible for everyone. Not to mention that any hour spend on these is an hour spend not earning a wage.
much love to you and for all you do
@@charlesg7926
I find drug use leads to complacency, as when I’m high on weed, I feel very happy with where I am financially. Depends on the drug though I guess, adderall makes me just a smarter person, but I don’t take it because I love food and it makes eating repulsive.
@@ChannelOfJoris
Can’t you take student loans for college and pay them back? I get it though if the person in question isn’t from a country that has college access and they would have to migrate to a place like that, that would cost money. I get what you’re saying about wage though.
This is what I’d do in a country with student loan support:
- apply for scholarships for poor people
- apply for student aid (my state has a lot)
- get a job
- get loans
- go to community college for general education (cheaper, transfer after two years)
For college with a place to live:
- use the money from working to share a place with roommates
- save up money for a rice cooker and eat oatmeal, beans/rice, spaghetti
And if I wanted to just attend college homeless (assuming no car):
- where I live, homeless people actually get “free” money, but if it’s a place that doesn’t do that, then beg or work nights (where I live, I met people who I’m pretty sure were homeless working nights)
- buy a gym membership (for showering)
- purchase camping stuff and set up a tent near a bridge (lots of homeless encampments near me and they like bridges)
- take the trolley/bus
- buy a tiny portable stove that plugs in
- buy a pan
- buy a pot
- plug the stove in (parks where I live have outlets)
- cook
If there is a car involved, then live in that and drive to college as opposed to taking public transit, and there are some mini stoves that can be plugged into the car so that could work as a place to cook as well.
Maybe I’m missing something, but that’s at least what I would do where I live. Tons of homeless people where I live. As for other places, I’m not sure how it is.
Grew up poor. I used to go dumpster diving as a child with my mom at the recycling plant for all the unpurchased Sunday newspapers with the coupons. I'd also dumpster dive at the corner gas station and the dumpster had lots of chips and snacks that weren't even expired.
I'm sorry about that. I hope you're okay now.
I'm in poverty right now. I live in a beautiful apartment complex but I'm surrounded by people who shoot the place up, rob each other, abandon and neglect their children. I do dialysis at home so this situation constantly triggers my PTSD I've been in counseling for since 6 and I'll be in counseling til I die. I've learned to not beat myself up because I've been taken advantage of by everyone and everything such as these banks, payday loans, high interest rates and my credit is good. Everything in this world seems to be an illusion of some sort or another.... I'm just happy to find people like you who enjoys deep conversations 💕🫂🎉 I'm happy to find the help I need.
I remember living like this in college and realizing that everything costs more when you're poor. Banks charge you maintenance fees which my parents never had. Not having a car to get around put us at the mercy of the local shops which always charged a premium. Don't have a laundromat in the cheap apartment and had to drive out to one, the laundromat charges 25 cents to break a dollar. Stealing toilet paper out of the library bathrooms. When you were poor, you were at the bottom rung of society and subject to everybody's little fees and charges to deal with you, and it still makes me angry to think back on it. I finished college and then med school. I'm not a 1%er but I'm a 3%er and I never frequent those businesses anymore. When I was refinancing my mortgage BofA asked me why I used to have a checking account with them and never went back, I told them it was because of those experiences getting nickel and dimed for everything when I had nothing.
Please, stop explaining my life.
HAHAHAHAHA
ikr
HAHAHAHAHA
Sorry bud 😰
"please, keep me dumb," - that's what you wanted to say?
Yep. I had missed one rental payment because of a draft from my account that I didn’t intend to authorize for a trip I was planning. I received an eviction notice, and had to shell out a lot more in late fees. I incurred overdraft fees, which would reduce how much I had received from my next paycheck. I would pay a bill every other month, and gotten my electricity cut off once. I slept in the dark until my paycheck came the next day. May car was repossessed. Yep, being broke is expensive.
Solutions for me: Eat and cook at home. Earn a professional certification and keep trying to apply and interview for jobs. Cut out cable. Cut out subscriptions. Stop the overdrafts first, then see where you can save a few hundred, then a thousand. A second job often helps, but it’s draining!!
Eventually made it to being a homeowner. Phew!
Alexis Jankowski speaking as someone who actually is poor (I'm disabled my income is $1045 a month) I don't have cable, I haven't been to so much as a fast food restaurant in 10 years, can't afford to subscribe to anything, (my family pays for my internet or I wouldn't be able to contact them) I'm disabled so getting a certificate or a degree would be a waste of money. It doesn't sound like you were that bad off since you could afford to plan a trip?
@@roberts459 or buy a house lol. Typical privileged white people saying they have it bad
@@ColorFusical "Just buy a house" sounds so outrageous in this context that I'm having trouble telling if you're a troll or not, like, I laughed at that but then you continued with a more serious tone. Hmm..
Andrea V you jelly?
@@gargoyles9999 If that's your take then you've missed the point of the video or are too dense to process and understand it. And the Alexis Jankowski person absolutely didn't have it bad in comparison
This was beyond truthful and the most researched view I’ve seen said out loud.
Problem is, I was hoping to see a solution or at least a glimpse of hope for people in that position instead of a mere, be thankful that you’re not in that position.”
But, I understand that the problem is complex. Bravo on doing a deep dive on this subject.
Maybe it’ll reach the ears of someone willing to influence change. 😢
Food banks need to be well stocked. Charities need to be well funded. People need to be educated. Governments needs to do what they can to create opportunities for young people whose families have been stuck in poverty so they can escape it.
Food banks need to be well stocked. Charities need to be well funded. People need to be educated. Governments needs to do what they can to create opportunities for young people whose families have been stuck in poverty so they can escape it.
I have lost thousands of dollars in overdraft fees living paycheck-to-paycheck. It's messed up. I got out finally.
This happened to me. They manipulate your transactions to make you acquire more fees. Never again bank of America.
*Why It's More Expensive To Be Poor:*
1. Everything is expensive when you're poor
yep, duh!
poverty is nothing to joke about. you must be proud of yourself.
Lmao
@@DA-bm2mj As a lil boi who's family was extremely poor in the first years of my existence, this is not a joke, more of a reflection of real life....
Oh wait
I felt this in my heart n soul
When you’re poor you know who your friends are. People who go from wealthy to poor lose everyone they thought are friends. Payday lenders are the devil. Run like hell.
Close family is all you can really rely on. Friends come and go.
SURVIVING Julie Silversmyth yep including family 👌🏻 when you can’t buy them expensive gifts etc anymore
When you’re poor you learn who isn’t your friend as well cause when you go from poor to wealthy people expect shit from you and lash out
If a wealthy person hangs out with other wealthy friends then I doubt he would lose them. What use would a wealthy firend have for that person's money if they also have it? But if you're rich and all the people you surround yourself with are poor then yeah, they're most likely fake friends.
Yes that happened to me. Learned who my real friends were very quickly. When I suddenly couldn't afford to go out to eat, go to Disneyland, get manicures, etc, I was suddenly a nobody to the vast majority of my "friends."
I can relate a lot to this video. After college I had a really hard time getting a job because of the housing market crisis. Working minimum wage and paying almost half my income on student loans meant that I had very little extra to spare. This resulted in relying on credit cards and my boyfriend (now husband) was relying heavily on check cashing because he couldn't even get a checking account. We both had unpaid medical bills that followed us for years. I was lucky. I had my now husband and no children and lived in a very affordable town. Because I am a nerd and I have a good education, I was able to get myself out the cycle. I taught myself how to code and was able to get good work and slowly paid off my debt. I can attest to the fact that when you are so poor that you can't think about anything but how you are going to pay your bills it is incredibly stressful. No one should have to worry about paying for the basics. This time was incredibly stressful for me but I am lucky that it was only a short portion of my life. There are too many people that live this cycle and can never get out. I think this short time in my life eventually made me a more savvy person who can have empathy for people in this position so I can't say that I regret it completely but no one should have to spend their whole lives in these situations especially when it affects children.
When I look back at photos of ourselves, you can see how being poor affected us physically. We were extremely thin, not just 20s thin, like you can see my collar bones sticking out of my neck thin. We were also extremely pale because we rarely went out and did things that weren't in our own home or at someone else's home or work. I can say this time had long term affects on me. I definitely have some food hoarder tendencies. Throwing away food makes me hurt. Sometimes I can't resist stocking up on a consumable that's on sale, even if we have plenty at home. We recently bought our first car but I still hate driving it and prefer riding bikes because even though is very old, it feels like some unaffordable luxury. It wasn't all bad, getting through this very difficult phase together has made me and my husband true life partners.
If you feel bad about throwing away food, you could learn to compost to at least make the thrown away food generate something of value for you or someone else.
You can make composting almost as easy as taking the trash down once a week. There’s a bit of learning and investment up front, but after that, it’s simply a learned skill just like riding a bike or cooking a certain dish.
I spend no more than 20 minutes a week on my slow compost bin that builds hundreds of dollars worth of soil for free. I’ve probably built $1600 worth of compost in three years this way. It’s not weed free (tomatoes are my #1 weed) but the nutritional value for plants is equivalent to a premium bagged product.
My dad quote, "Being poor is expensive."
This hits really close to home & I wanted to thank you guys for this video. This describes my financial situation for pretty much all of my adult, working life, from my 1st job in high school up until ~3yrs ago. Despite working full time I wasn't even making enough to cover all my bills. Luckily, I had my parents for support & would lend me a $100 every so often so I could pay my bills. So many ppl are on their own & don't have any help.
I find it hard to believe somebody out there doesn't know about all this consideration not just how much of my life this - oppressive rigging of every aspect of the economy against those who need the most help - consumed 35 of my 38yrs on this planet. If someone doesn't know how much every thing is rigged to keep ppl down, then share this w/ them bc a huge change is necessary here
Banking system in US is really scary for me, as Indonesian, i could say living here is much much more comfortable and almost worry free if you have a job that pay minimum wage..
Reza Anshari Valiantono thank you!
That is so true bro. I lived in the USA for an exchange program in high school, so i kinda knew how the system is. Now, as an small-business entrepreneur in Indonesia, i feel that life is relatively easy, though i'm not exactly wealthy either. I dont think that Americans would be able to enjoy life as we do in Indonesia with only minimum wage
Alhamdulillah if so...this is why we must be grateful and do not transgress in to following other countries unsustainable trends...avoid usury(riba), avoid millennials consumerism and invest in 'REAL' money and Insyaallah you'll be fine 🤗
@@rizqiahmadkurniawan totally agree 100%
But sadly, nowadays our credit union (koperasi) are used to be fronts for scams, albeit pyramid or ponzi scheme,and our koperasi ministry let it so!. And preditory bank are starting shows up again like in the 98.
It's so strange to me that to get cheap groceries or a child out of school you would need a car. While in post-USSR countries homes are kinda ugly looking (although very strable) , schools and shops are always near your home. It's interesting to compare, thanks!
Time is big key factor. Free time means you can garden, DIY fix's, and other hobbies to make money, also time to shop around, time to learn, time to research stocks.
What if you work 2 full tine jobs or even 1 and you're tired af. You should be able to survive with one full time job.
PandaFornicator if you’re working two full time jobs you’re either in retail or food service, apply yourself and dont have kids
@@GodsMistaek how is it that successfully people have more than one income stream.
Only the poor have one income stream!!
I'm so tired of middle class people pushing the stock market on the poor. I have 60,000 in student debt and only make 20,000 annually. You can't buy stocks when you can't even afford groceries and have to walk to a food ministry.
@@idlevalley how was I pushing stocks to the poor. I'm poor myself with about 60k in school debt and I work a food delivery job. I'm trying to start doing ride share soon to make more money.
Recently, I started watching these Two Cents videos and now, I'm hooked. I know squat when it comes to money so these videos help out a lot. I've learned more about money from watching these videos than the 25 years I've been alive. I really want to become more financially savvy. I am now officially a subscriber.
Thanks for the videos you two! ☺
It's awesome that you are bringing awareness around this issue. You two are the best!
I can finally understand why some people spend all their money on alcohol and drugs rather than saving up and figure out a way out of poverty. The system is designed to trap them into poverty so they won’t come out of it unless mystery happens, so day dreaming is the only thing they can do to maintain hope of surviving. Honestly saying, I don’t think I’ll make it more than a month if I’m in that situation, I might just end all my things all together.
I finally escaped poverty recently and its shaped every part of me to the point that I can't even date people because they've never had "the poor life". I didn't watch TV or drive to concerts, I stayed at home drinking tea and staring at the trees. I've been told I have the personality of an old woman even though I'm 20 , I've earned all my things and I don't get too excited over video games and movies, I only care about money and success. Making friends has been hard because they weren't working since the age of 14 and everything's been handed to them. It's like being poor is still there even after escaping.
I can relate to this feeling to a certain extend but you must not forget to life and feel enjoyment to be proud of the things you reached. I usually dont really hang around with people who had it easy in their lives or at least they have some other motivational drive and i can detect spoiled people within seconds since they ususally live way to hedonistic and they often have no idea of life. Most of my friends are immigrants also. Coming from a poor background my focus was heavy on making money since *being poor was my only problem* and i never had other problems.
Now earning enough i get little satisfaction buying *material things* with money. I want to buy time and therefore education to never fall back into the *poor trap* .
My mom had debt because of my aunt failing to make a restaurant and making her responsible in the contract but my mom had no financial education and so we were very poor living many years from wellfare but she did her best and later found work and with my new stepdad and brothers its getting better every year.
Then i grew up in foster care and there i learned to work hard for my money and was so eager to go working in the school holidays so i had to wait until i was 15 for my foster mom to allow it and then i worked every day of holidays and got the feeling of earning my own money at a farm. During school i worked at mc donalds and during university i worked many hard jobs like in a hot early hospital kitchen job. I used our german student wellfare programm but still had not enough money and I borrowed money from a good friend multiple times when i had no job for a few months. I also wanted to live so i also spend little money hanging out with friends and going to cheaper student parties. At the end of the month grocery shopping was just stressfull since no money left in the bank.
I spend hours waiting at trams and bus stops and realized during university that "waiting" and wasting your life is the main reason the poor will stay poor.
Until I got a decent working student programmer job at siemens with good salaray and still working at weekend hard as a mover live turned to the better side. I finally had 400 euro left every month and could buy some things, do some holiday, party and live with my friends.
After this my next job working student job i stayed 6 years till i became senior developer and IT manager and now earning 100 € per hour as external consultant for this company but i learned the next lession in financial education:
Money is exchange for time and realizing this, even at 100/h, i started my own startup so i can control my own working time everyday. My motivation is not money, my motivation is more independence and reaching the "rich cycle", instead the "poor trap cycle".
*I never want to have those family or grocery shopping issues from the past again!*
Be thankful for it, that self-actualization is something that you will own forever. I personally have no problem with other people even If I cringe a bit when hearing people who've had it all handed to them but that is something that you just have to live with, be greatful for it, it will lead you to further wealth.
How did you got out?
How the fact they haven’t worked when they were 14 is stopping you from making friends?
I think the only reason you can’t make friends it’s because you have a bad attitude.
My boyfriend is the same way because he grew up poor, and when we first moved in together we were poor too; it honestly helped because I was privileged growing up. But everyone judges him because of his personality, what he likes to do, and the simple things that calm him down, but I just kinda realized he wants peace and I want it too! Peace is so hard to find (especially when you’re poor). I find saving, planning, and being at home to be quite nice. We do like to splurge on our food, but we are by no means partiers.
I’m glad you’re not poor anymore-we aren’t either, but I’ll never forget.
This reminds of the social media post that says "why don't homeless people just buy a house?"
😂
I live in my car and a few weeks ago a landscaper doing the parking lot where I sleep said that I should rent a hotel room and that the one he stayed at was only $75/night. Umm, gee thanks dude, I'm not in my car because I'm broke, I just wasn't aware of the existence of hotels.
@@Primalxbeast What an interesting time to be alive, where you can be sleeping in your car and still have access to the internet 🤔
@@elizabethbarrera1077 yeah data plans for smartphones give anyone limited internet access
Elizabeth Barrera It's not uncommon for people to have income but not enough to rent a place to stay. Smartphones are a necessity when you don't have a landline. You need a way for people to contact you, and I can't even remember the last time I saw a payphone. Most poor people only have cellphones now. It's not the 90's when cellphones were a sign of wealth.
Only you guys could turn such a dark topic into a positive outlook. 🙌🏼 amazing job.
Blame the democrates . Supermarkets are nortorous for avioding poor neighborhoods because of demand to save ma&pa stories .
And raising the minimum wage causes infation
It’s not a party issue, it’s society as a whole
I don't see how it's a positive outlook unless you are in the crowd that has extra cash.
@@osmosisjones4912 Blame the republicans who spread lies that poor people are lazy mooching democrats, while republicans won't regulate predatory businesses out of existence, or fund a sufficient social safety net.
A. Lu 😂👍🏻
I am still in the low class but not in poverty anymore.
It feels good to see someone talking with understanding of this difference...
There are other perks that were not spoken about and do make a difference. For instance, being poor is often associated with mistreatment from society which often leads to depressions making it harder to fight. Being stuck in the bottom also blocks access to information that may help a person grow. More, even employers have prejudice against poor people
weirdly having a kid got us out of this situation, or at least a little wiggle room. A tax return at our poverty level with a kid in the mix greatly increased the amount we got back. We started holding on to our tax return as long as possible to get us through the bulk of the year without the decision fatigue and scarcity trap that we were definitely in. Two years later and the stimulus checks we just afforded a move that gave us a large boost in our health and things are working out okay so far...
Glad to hear that 🎉
It's crazy how that works! I had my daughter like right after I moved out but before I filed my first ever tax return so I didn't realize the amount we got back was higher than some people's. I remember the first time my sister told me she got back like $7k, which was mind boggling to me (mine was usually $2.5-3k). And the stimulus money was so helpful; I still have a good amount of it and I'm not rich by any means. So, good for you! 🥳 And if you haven't yet, put your savings in a high yield savings account online and not in your local bank. You'll earn way more in interest and you can access the funds at any time.
How are things going today?
Thanks PBS for your honesty. Most TV networks would blame the poor themselves for being poor, but you showed how things work without distorting anything. You are a great network. I also love Eons, Infinite and most of all space time. You guys are awesome.
That's because these channels actually want to educate. As it is publicly funded. Not paid for by the rich with an agenda.
Eons is my favorite.
The govt should get involved with people who neglect their children or cannot afford to care for them so the children have a chance. Starting with the worst circumstances. (In many cases, even when terrible drug addiction is involved, the government isn't getting involved.)
I don't see any other effective solution.
And yes, I know the govt is naturally ineffective because of nobody personally stands to benefit from taking responsibility. But, the children deserve a chance for us to try. And we deserve a world with less broken people that might hurt us or steal from us.
Thank you. I'm never going to complain about having no money.
Aren't supermarkets like Walmart forced to aviod poor neighborhoods to save Ma&Pa stores.
And if they the Minimum wage Price's while rise .so those making minimum wage just same those on fixed in come reling on saving. Inflammation would be detrimental
Osmosis Jones was that English?
European guy here. If this video is anything to go by, you guys have it rough. The banking part especially seems very unfair. Paying more the less money you have in your account, for just having it and for transactions. What? I have several bank, savings etc. accounts, two credit cards, and none of it costs anything by itself. Sending money also doesn't cost anything.
The difficulty of buying in bulk, well, that's probably the same everywhere. I would add to it the difficulty of buying more quality products that last you longer and therefore help you save money in the long run.
But never in my life have I heard of anyone having financial troubles because they had to pay for a bank account.
America has really bad mobile internet. And really bad banking system.
I live in second world country, but I can pay my loan with two clicks in bank app. My bank don't even have a lot of real offices. It has bank app and 24/7 customer support.
You never know how much you have until it's taken away. This video really shows what it is like to live below the poverty line.
It may be a problem you or I never truly experience Ruby, but understanding the real struggle of millions of Americans can help us become more aware and more passionate about advocating for change. Great to see in you in the comments like always!
Two Cents change? People make choices that will affect them before they turn 18.
Two Cents I grew up in this kind of poverty. I was lucky to be able to escape it, but my parents still live in it. Sometimes I get frustrated when my dad makes terrible financial decisions. I have to remind myself that he makes these choices because he wanted relief in the short term and has trouble looking into the future due to how bad their financial situation is.
They paved paradise, and put up a parking lot...
@@laurasweightlossjourney You hit the nail on the head, I as well did not live fantastic life growing up, but I manage my money properly now I live in a decent neighborhood and a 770 credit score.
This is super frustrating; for years places like Costco won't even touch us. Pay day loan and rent to own places make me beyond angry. I am truly thankful for the things I have.
Alright you are in need of some unethical tips.
Go find some peeps you can trust in your neighborhood, pool your money together, buy a costco membership, and congrats, you now have a community costco membership. The details of how you'll handle the memebership card is going to change a lot depending on the situation, but neccesity is the mother of all inventions
Don't go to Costco, they are a bunch of stuck up, wannabe rich a***h*. Go to Sam's Club, and when checking out, ask a nice person to use their card to pass through and then you pay for your own stuff.
@@Digiflower5 Im in the suburbs of Atlanta. Our Sams got rid of the entry card checks, but still have samples. Which location are you in?
The real problem is that most people aren't as frank and honest about the problem without putting people down like Two Cents here. There's a LOT of demonizing those in poverty along with those that are the rich and wealthy to the point where most people get so fed up with it that they just don't bother to go find out the facts. Thus nothing changes for those who really need a way out of poverty. In the meantime predatory companies are more than happy to keep people in bad situations for as long as they can.
gwgux this is so true. Poverty is also a habit at least for the first world. I know for a fact since my family came to the US with nothing not even an high school education but they did pretty well with what they got because of being conscious about money and spending.
I feel like the lack of awareness many people have in the first world tend to put them in poverty. I do believe the US is the land of opportunity since I seen so much success from immigrant families who actually lived through dictatorship, real poverty, starvation and famine. Even my parents did pretty well for themselves even if they could only get minimum wages jobs. At the end my parents saved up their money and lived happy and simple lives. They are happy they have a house, they have food, they have a car and their kids are out of the house and have their own life.
So far I seen is the destruction of the first world are self-inflected. First world poverty is self-inflected with a lot of self-doubt, laziness, and hopelessness. It’s like an extreme victim mentality. Sure Predatorial companies are out there but by law they gave everyone the details and fine print before anyone agree to the contracts. This is more than what some countries get from companies.
In the US you can filed for bankruptcy, you can ask for loan forgiveness, you can even settle a deal with the loan companies to pay less than you owe if you can give them money up front. I know since I had friends who in huge amount of debt and they been handling the case for years and companies settle. In other countries you won’t even be this lucky. You will go to jail in another country. Even the US prison system is not as bad. Most people don’t fear the US prison itself but only fear the other inmates since it’s like summer camp to them.
I noticed there is so much social programs, low income programs for utilities, rent, housing, public transportation. If you are low income enough you can even get a free refrigerator, free computer, etc. So much social support for higher education and job placement programs for the low incomes. So much public support in the US and yet it’s so hard for some people to do the research and fill in the application. Even food is free at the food bank and even if you aren’t low income you can get a weeks of fresh organic groceries with an hour of volunteer work. I even noticed there are so many ways to get out of those banking service fee. Direct deposit is one of them, and so is online banking.
People don’t do the research. I feel like this video is encouraging this helpless mentality people have that they are screwed because they are poor. It only see all the negative and none of the possibilities or alternatives.
I noticed people spend more money than they earn. Even the poor ghetto people has IPhones and multiple cell phones. So called college students with Mac books and drinking Starbucks, summer vacation and complain they don’t have money in their bank account and can’t pay there student loans. There are student loan forgiveness programs. I paid off my student loans even if I didn’t get the career my degree was for. I just kept working and saving my money.
It’s like the lack of self-awareness. Lack of basic math skills like addition and subtraction.
I’m glad I was born in a poor immigrant family and my parents taught me the concept of savings. At the end I saw both the low and high in society. At least I know how to save for a rainy day.
My uncle has this saying:
-If you are hard working and smart you will do well in life.
-If you are hard working and dumb you will do ok in life.
-If you are lazy and smart you will get by in life.
-If you are lazy and dumb you won’t survive.
He said it’s better to be hardworking than smart since at least if you are hard working you will do something with yourself.
Most lazy and smart people will do the bare minimum. Most of them are underachiever and likes to be in their comfort zone.
Lazy and dumb person will just makes life worst. Never try anything, never think for themselves and expect someone to care for them like a child. They are more of a burden.
@@CrimsonEclipse Wow, you're definitely more informed than most people. Also you're lucky to have your uncle. He sounds like a smart guy. :)
@@CrimsonEclipse Well fucking said, I'm not living in first world country so your detailed description painted a different picture from what I imagine poverty is like and the opportunity of said poor people in the USA
In where I live we don't have those things, I'm lucky enough to be born in a relatively well off family so I never have to worry about my future but I know a lot of people who is less fortunate and it pains me to see them being stuck unable to improve and get out of their poverty
Sometimes hard work is just not enough :/
@@CrimsonEclipse I was going to reply to gwux but then I saw your response and you aptly replied so I don't need to say much more. I only want to add that the so-called predatory corporations are not evil they're just doing business. The bank is in business to make a profit for its shareholders. There is nothing wrong with them charging fees on customers who don't carry enough of a balance for the bank to be able to lend that money for car loans and mortgages at a profitable interest rate. If you don't like it then don't put your money in the bank.
Instead of looking for someone to blame, poor people need to look at their own choices and actions in life. They cannot control whether they are born into a poor family or not. But they can certainly control the choices and actions they make after that point. The very first one is the choice to apply themselves in their free public education. I'm thinking of a student who just graduated this year and says he wants to be rich yet every teacher in the school says he's lazy and doesn't do anything in class. The next big decision the young people make is whether to get pregnant or not. I'm thinking about a girl in the same graduating class this year who had a baby halfway through her senior year. These two young people practically doomed themselves to a life of poverty by their bad decisions.
@@CrimsonEclipse Honestly, I think it is the fact that Americans spend more when they see others spending more. Here's an article that helps explain that, although it doesn't really start until theories 4 and 5:
www.theatlantic.com/business/archive/2016/04/why-dont-americans-save-money/478929/
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I am fortunate I made great decisions that changed my finances (gained over 1M in 2yrs) with help of my financiaI planner. Got my 3rd house in Iast week, and will retire next year.
Get to her..
Elizabeth Green Hunts
Thank you for reminding us what it's like to be impoverished.
May we never forget about those who are less fortunate than us.
I get upset when people say poor people should work harder.
This video proves that impoverished communities don't have the same opportunities as the more affluent.
And we haven't even begun to discuss crime and quality of education.
One of your best videos. Thank you!
Still, some assholes think that being poor is a choice, not a condition while they never encountered this situation thanks to parent's money.
romain Pottier poor is a mental state. People come out from ghettos all the time and succeed. It’s up to you. Excuses don’t get it done.
@@wlonsdale1 you're right. For 1 marking his way out of the ghetto, how many failed? Why did they fail? sometimes, people who are in the bottom of the hole have nothing to cling to and each time they slide, they sink a little more.
@@Gymcana - PEOPLE LIKE LONSDALE never seem to grasp the simple fact that for every person who gets a slot at Harvard, there is another person, equally as qualified, for whom that slot is forever denied.
Credit unions are better than banks. Fewer fees and usually free checking. Credit unions are owned by the members.
Yea but they are usually exclusive to certain employers. If your company isn't apart of their accepted pool, then you can't join :(
True. But there are plenty of them that make membership available based on where you live. So it's getting easier!
MJ Noce , I do agree with you, but it’s modern age. I had some money saved in a traditional bank and they would pay me.15 % . I thought to move that money to a credit union since they were offering better rate, but sadly the catch was I have to do certain transactions in a period of time over and over then I will qualify for that rate.believe me if I would hit my savings that many times as the credit union asked me to I won’t have the savings I have. Simply given savings to an online bank and way better rate and it’s working great.
@@TwoCentsPBS That is def good to hear😁
I was going to recommend credit unions too! I've been with a handful of them and they're very welcoming, helpful, and 99% of the time free.
That's why it's so important to have loving parents, role models and good teachers when you grow up. Education is the way out. Once you're grown up, it's much harder to get out of poverty. If you're in this situation, don't lose hope though.
Nobody picks their parents
If you're surrounded by people who aspire to be nothing in life, it's pretty hard to find good role models. The same could be said for teachers, especially in inner city schools, they only care about their paycheck. They'll be the first ones to strike knowing damn well they don't teach a single thing in the classroom.
Kaloop Spring then it’s up to you. Stop making excuses and do it!
Not college though, the way out of poverty is trade school, the way into poverty for 10-20 years is college.
Aaron Litten That depends on the decisions being made during college. If not played well, then yes. You will have debt.
Can we discuss being right above the poverty line? The point where you’re cut off of public benefits but you can barely afford to live? That in some ways was more exhausting than being in poverty.
hahahaha im homeless right now actually :'))) it's a struggle and every day you just want life to end. trying to get through this best i can pls wish me luck :(
I am wishing you all the luck :) :) :)
I am also wishing you great joy.
Where are you located Ren?
@@EugeniaMorpho thank you i appreciate it
@@antoniomendieta2662 im in central florida. the homeless population is pretty unsettling and sad around here, as surprising as that may seem
@MantisSZNYA2 i do, central florida is where im at currently. i actually have put in serious thought about pursuing youtube to help my situation, but my problem is content? and gaining traction, of course. long term it may work, though im trying to find more short term solutions. its difficult but im not trying to stay homeless and hungry haha. thank you for the suggestion!
I just got out of a homeless shelter. I inherited a little money & bought a car, which I now call home. I have a 50$ a month track phone, & it & the vehicle allow me to do food app deliveries. There's seldom more than a hundred dollars in my checking account, & I'm constantly hustling just to keep those from going into the red.
How's it going now Matt?
Trac phones are a rip off. Get boost or walmart mobile instead if you cant get a plan.
Matt how's it going buddy?
No need to pay for phone service. If you’re low income you can get a free phone and service. Check out Assurance Wireless or something similar for your area.
How are you doing now?
I experienced nearly everything talked about in this video. When I got my first apartment, I didn't have a refrigerator, a bed to sleep on (I slept on the floor), and a number of other essential household items. I relied on public transportation and had to take two buses to get to the grocery store. As you saw in the video, I had to carry a bunch of grocery bags on the bus. Once I did get a used but unreliable car, the car would break down about every three weeks; thankfully the car parts for a 1991 Oldsmobile were cheap with the occasional expensive repair. I graduated with a B.S. in mathematics during the recession and was unable to find a job for about a year and racked up a lot of credit card debt which led to dealing with debt collectors. I was depressed during this time and I did not hear back from employers for any of the jobs I had applied for (good or bad) despite applying for over 200 jobs. Since I didn't have I job I considered doing volunteer work but unfortunately I didn't have much money for gas lol. Of course things got better and I finally landed a very good job and I also went back to school and got a masters degree in statistics. Life is good now. For those of you who are in this situation...keep working hard and don't be afraid to ask for help!
What a wonderful story to hear. So proud of you!
Poor as the day is long !!! I escaped it by living in my car and parking in friends and families driveways and shwoering at the gym for 5years while paying bills down. When i paid all bills off i save for down payment on a place of my own and did not move in until i had an EXTRA for emergiencies. Doing great now. Bought a house and paid for it with cash.
I'm 28 , Indian , making my way to a stable financial territory and Two Cents videos helping me a lot . thank you.
Don't forget even if you have a bank account, when they see you're poor they're less likely to help you through any issues. Meanwhile if you have a lot of money in the account the employees will bend over backwards for you. I've been treated both ways and it's upsetting.
They help you out because they know you can pay it back but if you're poor, it'll unlikely to be paid back
Well, so far, my bank has been great to me. I have a free checking account and I have no savings, I literally use my account down to the last dollar before my next direct deposit. I've had three overdraft fees in seven years and each time I called them to plead poverty and they've always removed the charges for me. Maybe I just got lucky with Citizens Bank. I recommend them if you have them in your area.
It's to do with trust. How many deadbeats do you think they deal with daily?
All you need to do is sign up for direct deposit of your pay checks. Most banks will give you a free account with direct deposit and they won't see you as poor as you'll have money going into the account every week (or every two weeks depending on how you get paid).
Sadly, banking is a business, and they are in it to make money. It's nice when they can help, but they are unlikely to place a wager on someone they know cannot pay them back. That's business my friend.
Why is my broke ass watching this as if I didn’t already know lol
@Sudhir Kakar Shut yo bitch ass up
@Sudhir Kakar yOu WAsTe TiMe WatChiNg StUfF
Yeah can relate, but on the bright side I have 0 debt.. But have to walk instead of the bus sometime. And those cost 25 cents here..
What a society we live in.
a terrible society at that
Ok. I've shared this video with my ENTIRE family!! You guys are awesome!
Keep the great content rolling in!!
Supermarkets like Walmart are forced to aviod poor neighborhoods to save Ma&Pa stores. And raising the minimum wage Price's while rise . So those making minimum wage just the same. For those on fixed income living what was saved over years. On government programs just the same
i think that payday loans or a certain high amount of interest should be illegal
I don think they should be illegal. They should be regulated. Maybe with a interest cap. Payday loan companies charge $15-$30 fee for every $ 100 borrowed, which is insane. It comes out to 400-800% APR. If we passed a law that capped interest to say 50% APR (which is still very high, but much more reasonable than 400-800%), it would cost people $2 for every $100 borrowed, instead of $15-$30. People that use payday companies are people that are in a bind, and being charged $15-$30 for every $100 is just insane and predatory. They are literally better off getting a conventional high-interest personal loan or using a high-interest credit card, but I'm guessing the people that use those services either have no credit or bad credit, which is why they resort to payday loan companies.
Glow Berth shut up capitalist
@@fckbweeb I would rather have these things not exist but if people need money, 50% interest is a lot better than 400-800%. and its better than them not getting no money at all.
I am a capitalism. A Human-centered capitalist. I endorse Andrew Yang as my next president. #Yang2020
Payday loans might pry on desperate people, but the high interest rate also has to account for the number of people who skip out on paying back the loan. Something that’s more likely to happen to someone with a lower income.
I think they should be legal, but people should be educated enough to know that you never need one.
My favorite example of this is overdraft charges. It literally costs you money to not have money.
That's so dumb aye! I was once caught in that trap I had to take all my money out for a bind fee for a house. Then I was financially fucked for ages. And cos all my wages were going on other things, I never had money in my account. It got to the point where I owed the bank 1,800$ for having no money. I managed to slowly pay it off. But I'm still not in an ideal situation.
That and ATM withdrawal charges. Infuriating.
@@annaeverette8960 don't have them here if you go to the atm outside your bank its free but if you use a different atm at a different bank its costs you, not at the time. They wait till the end of the month and charge you then so if your in a hurry and don't have time to go to your own banks atm and there is a few closer during the month and use them it all ads up, I've been slapped with a $120 atm withdrawal fee before. Took me ages to cotton onto what the hell was causing it.
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
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I've been broke all of my life. This is why I don't date. I wouldn't want to invite anyone else into my problems.
Getting a partner is actually a way to increase your collective purchasing power...
Joseph McDade Once you’re together but no one wants to date the broke guy
+Joseph McDade Depends on the partner ....
It's your attitude towards yourself and your financial situation that's killing your dating prospects more than your actual financial situation.
@@dowskivisionmagicaloracle8593 you cant go out and spend money when you got bills to pay.
When I was a kid, my mom was poor for a couple years. I remember her timing our showers to 5 minutes and having us wear clothes twice before washing them, so she could squeeze an extra $20 out of the water bill.
Clothes don't have to be washed daily if they are not really soiled you know. And 5 minute showers are a smart thing.
@@vaderladyl yeah I know lmao. she explained it to us kids that way as a fast and clear rule because a 6 year olds judgement isn't really good when it comes to laundry
@@vaderladyl Also better for the environment, I am not poor but I time my showers.
Bruh.. Easy fix on the water bill.
1. Get yourself wet
2. Turn the shower off
3. Clean yourself
4. Rinse
And that should be less than 30 seconds of running water
@@nakukohee1858 this is what I do. I rinse off for longer than 30 seconds, but turning the water off allows better scrubbing too.
I am in an apartment complex where my neighbors get evicted with tearjerking regularity. Helping them move out has helped me understand the problem. They have big screen TVs, big beds, furniture that they don't need, and some hoarding. Their cars are newish.
In comparison, I have a very nice fat tire bike that I keep in my apartment. No car. Sure, Uber is $70 roundtrip to the airport or VA Medical Center but I save $9K per year by not having a car. The bus is $4 for a full day of riding when i have the time away from work.
Because I get over an hour of cycling in every day, sometimes in the snow, I don't need a gym and sleep wonderfully due to the exercise.
Frozen salmon in bulk for a week of breakfasts and dinners costs me about the same as one plate of sushi going out to eat.
Used books at the library cost about $1 for some amazing and current nonfiction titles that last me years sometimes. Borrowing DVDs and books from the library is a very inexpensive and social way to cut down on entertainment expenses.
Order nonperishable food off of Amazon to save on shipping costs and impulsive buying. Vegetable gardening on the porch is healthy, relaxing and prevents food deserts. If I was allowed to, I would raise chickens.
My bed is inflatable and my table and benches fold up fast.
I see a lot of fear in the purchases of my evicted neighbors. What is causing their financial downfall is their fears of losing their stuff or rank in society IMO.
We all pay the same rent, but my neighbors spend about $25K per year more on living than I do. That's a problem.
Yeah people tend to try to go beyond their means just to save face. I've known people who were as broke as me staying in fancy apartments, going to to eat 4 times a week, buying things like a gaming computer for $1500 while I would stay in a cheap apartment and get a roommate, had a regular computer for $329 from a black friday sale and would download free books on my kindle for entertainment. After several months I was able to improve my situation while they were being evicted and asking me to bail them out.
@Roy_Thousand , thank you! More than 12 moves in my lifetime have hammered home the lesson that I need to prepare to move again and less stuff is better than more. That being said, I have about 300 pounds of reference books because I don't like to lose my references when the power goes out.
@@LamesWivams , good work!
You nailed it, I don't care about society points, no car payment, rent,every bill and fee is under $1000 , I still have nice things and I eat well, and that 25k a year to maintain a fake social status isn't spent. I have well over 1500 in disposable income that I can invest or blow on whatever makes me money.
@@theunconventionaldeal3879 , good work!
I’ve been dirt poor but always managed to avoid pay day lenders. Got out of rent trap with 1st time homebuyer loan that only required $2000 down for a condominium.
Kept old cars going with my own tools acquired over the years and knowledge from TH-cam. I’ve fought off alleged creditors pro se.
I’m in a better position now, but to do so I had to become my own mechanic, my own lawyer, my own nutritionist and doctor, my own financial advisor, my own vocational trainer, my own therapist and, yes, even my own surgeon. And yes, all of this competence came at the cost of my time.
One more thing that I experienced. When I earned less, I used to spend significantly bigger amounts on travelling and vacations, mostly because the place I lived wasn't very pleasant. Now I live in a much better neighbourhood and really feel comfortable at home without an urge to always run away for holidays
If you were spending money on trips & traveling, you weren't poor, you just had bad spending habits
I apologize for what I said yesterday. It ended up sounding so judgemental & that's NOT how I meant for it to sound at all! To travel is to experience new places, people & ways of life. It means you were truly living & not just going through the motions stuck in a rut that so many find themselves in. Every day looks the same. You go to work, you come home & the most excitement you experience is in the worry of how you're going to pay your bills & keep a roof over your head & food on the table. I would've loved to do more traveling but there was just never any money for it. It took everything I made & then some just to survive. I did drive a tractor trailer across country for about 8 years when I started dating a truck driver so I was able to see places I probably would never have gotten the chance to see otherwise & I LOVED it. I'm glad you had the opportunity & the ability to live a little. I think it's a shame that in a country like ours that so many people work their butts off for such a small amount of money that they never get to do things like that. So many go their whole lives & never get to do or experience much beyond working & struggling & that's sad. I never really cared about being wealthy. I just think everyone who works should be able to pay their bills, keep a roof over their heads & food on the table & every now & then do something fun, like travel. There's really no reason why that can't be by other than greed by those who have way more than they could ever possibly need in their lifetime.