Why It's More Expensive To Be Poor
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- čas přidán 28. 05. 2019
- It’s not just a matter of having less money. For many people below the poverty line, some goods and services can actually be MORE expensive. How can that be?
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SOURCES:
www.washingtonpost.com/wp-dyn/...
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www.investmentzen.com/news/its...
www.theatlantic.com/business/...
mic.com/articles/108068/aston...
www.nytimes.com/2011/09/25/op...
mic.com/articles/126508/5-rea...
www.brookings.edu/opinions/th...
mashable.com/2015/12/08/super...
wallethub.com/edu/credit-card...
www.ncbi.nlm.nih.gov/pmc/arti...
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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.
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.
Thanks for comments dont forget to hit the subscription button
+①④①②⑥⑨⑤⑥③④⑨......
=whatsap//++...............
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 learnt to manage my money through investments and it really works for me. They say money can't buy happiness but poverty can't buy anything.
There are so many ways to manage money and prepare for a relaxing future, we just always have to keep doing our best because whatever we plant now, we will harvest later, good or bad.
There are so many ways to manage money and prepare for a relaxing future, we just always have to keep doing our best because whatever we plant now, we will harvest later, good or bad.
Investing wisely can significantly impact financial stability, offering peace of mind and more opportunities. While money can't buy happiness, managing finances well now will determine future outcomes. Let's continue making smart financial decisions.
As a novice, how do i get into investing properly and be profitable??
Angela Lynn Schilling is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment._
I'm reading a book called "$2.00 a day Living on almost nothing in America" and the stories in the book about the impoverished families from that book are just heartbreaking. This video really does shed light on the failing war on poverty.
War on poverty is unwinnable when company earnings are consistently and disproportionately directed to the already rich and powerful rather than the working class who are really just modern wage slaves. It basically is as if the richest get the biggest cut of a pie and leave the crumbs for the poor, even though everyone had worked to create the pie.
@@abellyold4859 Yeah it's not like someone had to work their ass off their entire life to make the capital required to start the business, implement a process, gain customers, market the product, create a management structure and still work in the business for the first 10 years at the minimum. We should just give all of that to idiotic poor people because they know how to do a simple task that's being taught to them to perform the job. Completely fucking stupid
$2.00 a day is approximately $60/month. Work a day at literally any job and you'll have more than that.
such sad stories in that book indeed :(
Unfortunately, there is no war on poverty. No one is actually doing anything to help people like this, quite the opposite. The people at the top created the systems that keep the poor poor. Like the credit system, setting wages, setting prices, creating laws, etc. And they're doing it on purpose, so that they can have more for themselves.
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%.
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.
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.
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
Honestly, I've learned more watching CZcams 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 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
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.
@@ZeRo-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.
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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.
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.
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?
Thr government wants poor people
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.
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.
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.
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!
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.
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 🙏🏿🙏🏿
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.
As a person who has been very poor my whole life I feel heard by this video. Thank you for this easy to understand and compassionate look at the problems these communities face
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.
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 know it's been mentioned many times in the comments already, but the Terry Pratchett boots theory would have been a good addition to this video. The fact that many poor people can only afford cheaper items that are less durable, and end up having to spend much more money replacing them throughout the years than they would have spent on just one good quality item
nice to know there's a name for this phenomen. I wouldn't say I grew up below poverty line, but my parents only had money for the very minimum, so they bought stuff solely based on price. fortunately I had the chance to study and now I earn good money, but still catch myself sometimes buying cheap stuff even though it is not worth it financially. it's a bit hard to let go of that mentality for good lol
Then there’s the “Walmart Syndrome”. The poor people who take their entire family there as entertainment and buy the cheap crap because it’s new. We have always lived very frugally by choice because of devoting most of our time on volunteer work. I have bought leather shoes at a thrift shop for two dollars and a Coach purse at a garage sale for eight dollars,etc. They always need some love,but with a little shoe polish and leather cream,I have actually restored many things and kept them for twenty years. I once bought a beautiful Ralph Lauren,cotton sweater at a garage sale for one dollar because the seam was open under the armpit.
I'm surprised they didn't mention predatory places like "Dollar General" specifically and how they run out local business (alot like Wal-Marts) in extremely poor areas and sell super high to those very same poor people under the guise of being a savings store. Also it's crazy in places like the USA poor people have all this to worry about and their tax money won't even cover their own medical expenses if they get sick (which are the highest in the history of the world), being without insurance means you are truly f-ed up...being poor sucks.
But in the usa if you can’t afford a private insurance, you can have a public insurance like the medicaid?
Can you expand on how Dollar General sells high?
@@someguyslastname8487 Alysa must have been high, lol. Dollar General rarely sells products over a dollar and I don't believe anything over $10. They put other stores out of business because they can buy a cans of soup in bulk and sell it for 1.50 each profitably while other store are paying that per can for wholesale.
@@royce9018 You are thinking of stores like Dollar Tree, it's different than Dollar General. It's an easy mistake too make (and I won't even go down to your level and call you high for making it).
@@AllieSocks12 well if you come down to my level we have an idea of what is actually going on. Up on your level is just make believe and nonsense. Literally a Dollar General across from one of the buildings I manage and I stop in often to pick up cheap cleaning supplies and other household items. But points for toking up and trying again, lol.
“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.
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.
People really understimate the exhaustion of poverty, as someone slowly working myself out of it I'm thankful that you did this video.
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'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.
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?
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!
I can tell you for a fact that being poor is more expensive because it takes away your peace of mind. I worked as hard as I could and saved some money. Being an avid reader, I came across a report by Northwestern Mutual on the same topic and found that if I choose to put a lump sum into solid investments, I am more likely to have a higher balance over time. Being a novice at the time, I saw that as a queue to get into the market. That was quite the turning point in my finance.
@Inthemoment830 Well, I've gotten into a plethora of assets with $30k spread across stocks index funds, and ETFs, for the long term. I've been investing with help from a pro fund manager, Herman W Jonas who oversees my investments. Now I sit back and reap my dividends while I just reinvest from time to time.
@Maisymaisy33-year-old high school teacher here. I don't make much but I want to make better financial decisions. I wouldn't mind hearing from a pro. Is there a means to get to him?
Do you realize how obvious of a fucking scam this is? Fatasses, get a job.
I left him a mail and he responded. From our conversation, it’s obvious that he’s well-versed. I’m getting started right away! You're kind.
screw you for doing this predatory behaviour. fuck off.
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😁👍
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
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 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.
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
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.
I've lived in poverty for a decade. It was really hard.
Hard to imagine the toll on your physical and mental health. It is a daily stress and headache. Families in poverty do not have healthy relationships and growing up poor puts you at higher risk of poverty.
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.
*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
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.
so you're telling me that in america you get charged for havin a bank account, using an ATM and by using the services to pay the bills? what a scam. I admit that the other things sill happen on my country. But at least anyone can use a bank basic services.
As a nineteen y/o girl living in the United States, I would like to comment and speak on behalf of others in a similar situation on what a struggle I've gone through to make it work for myself here. If you don't have either 1. A generous savings account to back your college expenses, or 2. A prolific lifestyle or idea to make it without funds, you are at high risk of finding yourself dependent on another for your livelihood. And social media culture here does not make it any easier. I believe this is why so many young individuals in America are depressed and consequently reeking havoc on society.
Something needs to be fixed, anyone have feedback?
Please, stop explaining my life.
HAHAHAHAHA
ikr
HAHAHAHAHA
Sorry bud 😰
"please, keep me dumb," - that's what you wanted to say?
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..
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'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'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.
My dad quote, "Being poor is expensive."
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
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 CZcams. 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.
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.
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.
I think there is something to be said about decision fatigue, and how it can sometimes be misinterpreted as a "disability." A 27 year old guy who's been unemployed for 3-4 months, in spite of continuous job applications, with only $11,000 should not have to worry about where their next meal is coming from, especially if it accrues to $1,000 a month just to get by rent-free.
I've been experiencing this personally and i always told people i felt it's more expensive being poor and it's making it harder for me to get out of poverty, but they would swear that we have equal opportunities.
Nice to know at least that I'm not the only one who thought this
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!
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 🥰
I’m glad y’all are discussing this topic. These predatory practices are so painful
Minimum wage is modern day slavery.
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
*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!
Ahhhh...Rick And Morty
Capitalism in a nut shell.
*You son of a bitch, I'm in!*
So basically it's the worlds way of flipping you off for what, not having enough money to be considered important enough to have equal costs? Idk what people are doing, but they aren't doing anything good.
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.
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
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
The most interesting part of the video is me comparing it to Europe, Czech Republic specifically. Most of these "being poor penalties" actually don't exist here. Banks without free withdrawals almost don't exist, loan sharks are basically extinct due to laws here, local convenience stores are often cheaper than supermarkets. Rent situation in big major cities is bad, though. That said, the motels for extended stays are still significantly cheaper than getting a room in a shared apartment.
I grew up poor in Phoenix in the 90's. We rode the city bus, didn't have a car, my mom walked to work and survived on food stamps. In the early 2000's after moving out of my parents home, I struggled with things like payday loans, overdraft fees, rent, and high interest because of bad credit. I own a home and am now more stable but still struggle regularly due to inflation and having a family. It is difficult to move up the socioeconomic ladder because of the lack of connections and availability of disposable income despite having three incomes (My wife and I both have full-time jobs and another stream of income). We once were able to put away money for retirement and vacations but inflation is eating all of that!
The animation was truly marvelous. The subject matter was really good. Keep rocking.
Thank you so much!!
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.
So-called dollar stores are huge traps for people with limited finances. It’s disgusting just how predatory places like dollar tree are.
yeah you're right. its a vicious cycle that makes it so hard to ever break out of it
This is legit. Thank you for explaining it! Growing up poor gives us a different mindset and not a bright one. You explained much of it in a nice tidy nutshell❤️🤜🤛
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."
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.
"Whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them."
- Matthew 13:12
As someone who has ended up homeless and unemployed with just a book bag full of possessions in the past and had to work his way up from there, its funny to me to think any of this needs to be explained, but thank you for highlighting this as it's rarely discussed but is a real problem for many people!
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.
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.
I have been quite poor a couple of times. Now I'm about middle class, but poverty has burnt in my habits. I delay repairs in our house, although we could easily afford them. I don't buy new clothes, although I live close to a mall. In winter, our house is the coldest in our neighborhood. I grow fruit, berries and vegetables everywhere in our garden and even in our windows and on our balconies. I hesitate to spend every penny if it's not absolutely necessary. Sometimes I think that poverty has left me with some kind of PTSD.
I think the best way out of poverty is to live in your car. Sure it’s cramped, but it can drive you to work, a restroom and city parks were they often have grills. A few months of doing that you should be back in a apartment and slowly progressing your life again. People with bad credit, bad job history, student debt, credit card debt and past due bills have a much tougher road ahead.
I just stumbled upon this, and Im glad I did.
Extremely informative yet presented in a non-boring manner.
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.
The worst is storage lockers. People become homeless, try to retain what little they have. Pay 85$ a month for a locker with 20$ worth of trash. Over years they may pay 10k dollars for what you could purchase brand new for less then a hundred. But it's their stuff and what little they have. Storage lockers are full of these people's stuff awful business
I have never experienced poverty and have always lived a comparably privileged life. My parents owns real estate, have been able to provide multiple international trips a year for me and my brothers and I got to choose the college I go to, regardless of location, price or scholarship opportunities. This video truly opened my eyes. I knew that some people were struggling, but I never realized the extent.
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.
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
Thanks for posting this. I have never been this hard off, but often get frustrated at the idea that people who are poor are just lazy. This false meritocracy is one thing that is keeping everyone who isn't wealthy that way.
I have a degree in engineering. In order to get that, my parents saved for college and moved out of the city to the suburbs when I was young to benefit from the improved K-12 schools there. I definitely worked hard in school, especially college to get to where I am today but it would be totally incorrect of me to think that I didn't get any help along the way. Nobody can really "pull themselves up by their bootstraps" and succeed totally on merit alone.
I've never heard anyone discuss this so honestly. I wish everyone had to watch this. Everything you have said here is true. The poor are preyed upon and kept in poverty. The only solution is for someone to scoop you up to a better place. But you must be able to get along with whoever is helping you. And there's very little grace for mistakes when you bring little or nothing to the table in a relationship.
In many cases they mentioned, the poor aren't intentionally preyed upon (and yes they did insinuate that).
The fact is that you aren't a good bank customer because you would cost the bank money if you had a low balance AND overdrafted often (and writing bed checks is illegal).
People take care of customers because it makes them money.
If banks acted differently it would be like restaurants giving you free meals because you're broke. Restaurants don't make enough money to do that.
Could scoop yourself up.
And no, I don't think that sounds easy. But it does put much control over your life back in your own hands.
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?
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/
All your episodes are great, but this one specifically is fantastic.
The ignorance and judgement of people who never experienced poverty and are unable to empathize with the poor is beyond outrageous and damages society as a whole.
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.
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.
Not having a car grocery trip is like this. Walk across parking lot, up hill, down path, up stairs, across bridge over freeway, down stairs, across train station, wait for shuttle to store, get on shuttle, pay for shuttle, get to store, buy as much food as you can carry usually one bag of fruit, do the reverse to get home.
I love this ❤ it reminds you that you're trying and that fudge, yea, it takes time and there's always a reason to be grateful. Shout out to all those parents who are trying out there 🙌🏼