What I learned From Being Poor

Greetings barbarians! Long days and pleasant nights!

It has been 8 months since the day I’ve quit my job and boy, it has been 8 gritty months!

Being poor is quite an ordeal, and it has tested my resolve. But it also taught me a thing or two about life.

Here are a few things being poor taught me:

1. Money can’t buy happiness, but it helps – stop thinking like money is the root of all evil. While it is with absolute certainty that money cannot buy you happiness but is also vital. Back then, I never worried about money; I have a decent job that pays well and that’s all that mattered. All this changed when my daughter came along. When you have a responsibility, you cannot afford not to have money. Have respect for money, your parents spent a great of it to have you not to think like that.
2. Having a little goes a long way – all my talk about being poor must leave you thinking how I am surviving all this time. It was simple but it’s quite hard, to be honest. I audit myself all the time and track where my money goes. I invested any money I saved to have a sort of passive cash flow. I started doing some short-term or menial jobs to have an active cash flow and try to spend less as much as I could. Never put all your eggs in one basket, you can do much with very little – you have to be smart about it.
3. Make everything count – since I spend very little, I salvage anything that I could. If something broke, I fixed as soon as possible. I alter any clothes that don’t fit right, instead of buying new. Squeeze everything out from a tube of toothpaste, reuse and recycle when you must.
4. Save as much as you can before spending – follow a savings scheme that works for you and stick with it. For me, it’s the 20-50-30 rule, 20% for savings, 50% for basic expenses and 30% for lifestyle expenses. The important thing is to save money first, then spend the rest. That way you are securing funds that you may need in the future. If you cannot save 20% of your money, then you must re-evaluate your expense. It means that you are living beyond your means.
5. Be aggressive in paying down your debts – debts are a fact of life, and loans sometimes can’t be helped. I’d be honest, I’ve accumulated quite a debt over the past months. I’ve relied on my credit card for groceries and emergency expenses. But I always allot a huge chunk on my current income in demolishing my debts. The thing about debt is that they have an interest, and the longer you have one, the longer you must pay the interest. Interest that could better off go into your savings. The idea is to build up savings while paying down your debts as soon as possible.
6. Be thankful for everything – period. Always be grateful despite how little you think you have right now. I know things are tough, but others have it tougher. The thing is, complaining won’t make things any better. It’s not always merry at the barbarian stronghold. There are tougher moments than pleasant ones I could count off. But, whenever I’m about to complain, I stop and remind myself that I have no reason to. Others have it tougher, I should be grateful that I still have something despite how little I think is it. I keep reminding myself that tough times don’t last, but tough people do.

I could say that being poor is a tough situation to be in, it requires a lot of patience and hard work to bounce back. With that said, it is not impossible to come out of poverty. You must be smart and remain strong.

As for me, things are looking bright right now. The hard work is now paying off and by November I’d reach a financial milestone after a year of being unemployed.

To courage, freedom, and financial independence!

“Wealth consists not in having great possessions, but in having few wants.” 
― Epictetus

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