Anonymous
Anonymous asked in Business & FinanceInvesting · 1 month ago

How do I get out of poverty?

18 Answers

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  • 1 month ago

    A dollar at a time.  Be wise with your money, and do not waste money. {Parking tickets, speeding tickets, overdraft fees, late fees. lottery tickets, gym memberships, etc.} Be conservative. Pay off credit card bills IN FULL every month. Look for bargains, use coupons, avoid expensive phones and internet services, etc. Consider getting a roommate ... and more of the usual advice.  Consider every dollar precious(!)

  • Trish
    Lv 5
    1 month ago

    Go big or go home is something I heard.  Go into business for yourself.  If you can spend 8 - 12 hours a day working for someone else surely you can invest that much or more into yourself.  Come up with a product or service doesn't have to be an original idea.  You'll have to do everything yourself starting off but after a while you should charge enough and have enough customers to hire help.  Go to the unemployment office to look for help rather than a temp agency or the like.  Good Luck.

  • Anonymous
    1 month ago

    Do everything you can to get a descent job. I'm pretty sure Sam's Club and Trader Joe's both pay 15/hr starting. Don't get into debt that you are unable to pay down each month. Try to put as much as you can into a very safe index fund like SPY every month. In 30 years you should be able to retire.

  • Anonymous
    1 month ago

    live beneath your means and save money.

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  • 1 month ago

    Earn income, make a savings and investment plan, take part of your income to fund the plan, track your progress monthly on a spreadsheet, if you feel you need to accelerate the plan get a second (or third or fourth) income. The are greater specifics you can get into IRAs/Roths, etc. But at the heart of the matter if everyone did that most poverty would be gone. 

  • kswck2
    Lv 7
    1 month ago

    Kind of depends on how you got there to begin with. But for the most part, work hard, save your money, spend Below your means. Drive a Buick rather than a Ferrari. Eat at home more often. Save at LEAST 15% of each paycheck and DON'T spend it. 

  • 1 month ago

    It depends on why you are IN poverty to begin with. 

    Don't have a job? Don't have skills? Don't have transportation or food?  What kind of poverty are you talking about?  Just low cash flow or something like homelessness? There aren't enough details here to make any kind of suggestions. 

  • Anonymous
    1 month ago

    Work harder. Save more,Spend less.

  • 1 month ago

    Live within your means.

  • Anonymous
    1 month ago

    Get a job and stop wasting your money. 

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