10 Tips for Poverty Management

Like wealth, poverty need management.

Poverty MangementPhoto byCartoon by Lambert-King

Rich people seem to always have “experts” who want to help them with their situation in life. Poor people, not so much. With that in mind, here are some things that may make poverty a little more bearable. Keep in mind this is a subject I researched for years, though not on purpose. Things just turned out that way.

1: Use your local library.

I know reading books is seriously old school, but there are videos and other things available at the library to provide entertainment. Besides, going to the library can be an outing for a poor person.

When I was about nine years old my grandfather, a very poor man himself, got me a library card as a gift. It was one of the best presents I ever got.

And in case you’re wondering, the library is that building in your neighborhood with a lot of books in it.

2: Work on developing your relationship with friends and family.

You know that saying, misery loves company. There’s a good chance your social network is in a similar financial situation as you. That’s probably one reason they are in your social network.

Friends can help you to endure poverty easier, plus, in a real bind, you have someone to ask to lend you a few bucks until payday.

3: Shop at thrift stores.

This might be tough for status-conscious young people, but face it, if you’re poor and status-conscious, you’re probably in for a rough ride anyway. There are real bargains in thrift stores, especially when it comes to clothing. Some of the items can still have the stickers on them.

If you are embarrassed to be caught shopping in a threat store, wear a disguise.

4: Not to preach but monitor how you spend your money.

I don’t know how many times I’ve been behind someone in line at a quick stop and waited while they sorted out their tobacco purchase along with their lotto tickets.

Tobacco is expensive and it only leads to a loss of more money via medical bills. As for lotto tickets, a sign in the local convenience store showed how much money was paid out to winners the previous week. It was $18,675.00

What wasn’t shown was how much money was spent on the tickets altogether. I’m sure, however, it was less than the money paid out.

Besides, people buying that stuff take a long time to check out and they’re wasting my time being self-destructive.

5: When buying a car, don’t just think about the payments.

Sure, payments matter, but keep in mind the overall price. A payment of $250 for three years is much better than a $250 payment for five years. While you're making those payments that car is depreciating. It’s a great way to find yourself upside down in a vehicle.

Literally or financially, being upside down in a vehicle is an unpleasant experience. If you have a decent vehicle paid off for a couple of years and can avoid a car payment for a while, that’s a great financial accomplishment

6: Think outside the box when it comes to housing.

So, if you’re living in a box, try to get out of it. My wife and I have lived in mobile homes at various times in our lives. While they aren’t likely to appreciate in value, unless you’re in a hot housing market, it does have some advantages to renting.

Generally, a well-maintained used mobile home can hold value for a number of years. When it’s paid for, you can have something to sell to use for a down payment on a house or whatever you want.

I’d advise you not to watch, “My Name is Earl” if you are looking for alternative housing.

7: Haggling over price can help.

And this doesn’t just apply to motel rates or cars. Even things like dental work can be negotiated. Especially if you have cash.

Even a root canal can be negotiated. Though the negotiations can be as painful as the root canal itself.

8: Check to see what government programs are available for you.

For example, for years Obama care has had a nasty connotation to some, but for poor people with health issues, it has been a great resource. Also, check out basic programs such as food stamps.

Some people feel stigmatized by accepting government subsidies. I’ve never understood that. Millionaires get “subsidies”, poor people get “welfare.” Poor people need better PR.

9: If you work outside the home, brown bag it for lunch.

McDonald’s used to be my go-to place for a cheap lunch but even their prices have jumped up. You can save money, plus you can grab a nap with the time you save.

Employers love to see their employees asleep at their desks. Whoops, being told that’s not true.

10: Make fun of rich people.

Sure, it can make you sarcastic and doesn’t really help your own situation but can sharpen your comedic skills and maybe help get you to the point you can make money writing satire.

So, what are your poor people life hacks?