15 Reasons Why Being POOR Is EXPENSIVE
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- Опубликовано: 25 июл 2024
- The poor man pays twice. It’s not enough to just be poor, that would be easier to accept if you were paying for things according to your earnings, but that’s not how it goes.
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In this Alux.com video we will be answering the following questions:
What are 15 Reasons Why Being Poor Is Expensive?
Why is it so expensive to be poor?
Why is it much expensive for the poor to live?
In what ways is it more expensive to be poor than rich?
What are 15 Reasons Why Being Poor Is Actually Incredibly Expensive?
Why It Costs More To Be Poor?
How much does it cost to be poor?
Does It Cost More To Be Poor?
Why It's Still Getting More Expensive to Be Poor?
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00:00 - Intro
00:27 - Ignoring small expenses becomes massive bills when left too long
01:20 - Getting to work costs more
02:13 - Groceries and purchases cost more
03:42 - Poor people can’t buy in bulk to take advantage of savings
05:00 - Loans are taken to make it to month end
05:35 - Late fees are penalized
06:35 - When you buy cheap things, they break earlier, and you must buy again
07:19 - Banks favour rich people over poor people.
08:26 - Eating nutritious food is unaffordable.
09:17 - Owning a home is impossible, and landlords take advantage of that.
10:20 - Access to healthcare is more expensive for poorer people.
11:28 - Poor people don’t have time for investments
12:26 - Being poor leaves you with limited choices.
13:07 - The poor are easy prey for scamsters
13:48 - Poor people are socially excluded
14:31 - Question
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Sometimes poverty is linked with your location in the world, some countries have poor performing economies, weak currencies, corruption and a high cost of living.
As someone who dealt with growing up poor I do understand how tough it is. The two biggest things that helped me were learning to cook and cooking in bulk. I know there are people out there who want to say I'm full of it and don't really understand poor. I also want to remind you that you're the same people watching RUclips right now and either posting from your own computer or your smartphone, so slow your roll. Unlike most of the people on this channel, I know what it's like to go an entire week without eating because I've done it. The point here is that whether you're poor or on the cusp, fast food makes you far poorer in the long run. You can knock out simple meals for the week in under three hours. The same RUclips that you watched this on will show you everything you need to know. Start hanging on to the money you're not spending at the golden arches and watch your life improve dramatically.
In America, it might lead to a poor neighborhood which leads to a poor education which leads to a poor paying job which leads to a poor family and the cycle continues.
Getting out of the hood is as easy as hopping a bus, and going to another city.
Also when your poor you have a tremendous amount of emotional, physical, and mental stress. This typically leads to people looking for stress relief in the forms of alcohol, cigarettes, drugs, and sex which leads to a whole different mess of issues. At the very least those things are expensive to abuse.
Yep its actually a statistical fact poor people consume more alcohol and drugs
It's about spending habits nothing more.
Ex: poor people always have to have cable or satellite or have expensive phones and plans poor people always need to give the internet none of these are required for a happy life
I don’t need to be rich, I just want to be financially independent.
Money won't buy you happiness, neither will poverty!
So so true
Happiness is a state of mind, you can be as happy as you make up your mind to be.the great way to experience happiness is focusing on the present and helping other people .Money can buy the things that brings happiness example good education for your kids,vacation around the world,leaving in a good environment and nice home etc
Poverty buys nightmare
Money will buy you almost everything.
Poverty will buy you absolutely nothing.
I guess poverty is much better 🤡
moneys buy you comfort and happiness!
If schools taught people the basics of investing, there would be a lot less poor people.
The teachers, the people working there, also don't know shit about investing and how money works there's no way they can teach it. Only option is to read books in your own
No, if schools taught the basics of investing, there would be more financially-educated but still poor people. Sure if your first job is UPS, its a good idea to put some money into the 401k they offer and keep contributing decades on. Thing is, there is more to being well off than investing, especially since the best investments require capital...which poor people don't have in the first place. Basic tips, basic results.
Mr Ruckerfella a millionaire designed American system of education and significant amount of Information on financial literacy was intentional removed to keep folks poor to control them(rat race),if you wanna be rich you must study personal development books and take masive action on the information you got,you must make yourself more valuable to the market place by acquiring more skills,success is not pursued you attract success by making yourself valuable and figuring out how to serve more people and automate your business so you make money while you sleep.having two jobs cannot make you rich,always remember that profit is better than wages.
@@ihakaramvictorine1524 You're right. The more you learn, the more you earn. Personal development truly is the way to wealth.
(Being sarcastic like the snobby rich) "then there would be no socioeconomic classes, no division, no fun boo hoo freaking hoo hoo" (rolling my eyes)
Build your dreams or else somebody will hire you to build their dreams !
wow, my gosh. i feel so glad im
not working.
@@runguys370 dude, stop
they have money to do, you have nothing.
@@eduardochavacano hahahaha
When people don’t trust you’ll pay them back you’re going to pay for that risk.
Amen!!!!
Fake alux profile don’t listen
This video has giving more motivation to be rich.... than any other BS I've heard online
Poor people don’t have time or money for investments, which is a shame.
Poor people do not have the money to save or invest. And when they do, they can't leave it stay there long term. More than anything else, the one thing that poor people need is access to credit at an affordable rate. Paying 30 percent interest on loans used to be called usury and involved the mob. The worst thing that happened to our economy was deregulating the banks to allow the high interest rates.
@@curiousgal9445 Amen
but they money for iwatch
Wow, it actually is more expensive to be poor. I heard the same argument on the Two cents youtube channel.
Hola, Greetings from Lima, Perú. Thank you for your videos. I agree with you. I would only add that the best things in my city are for free since there are many luncheons or cocktail parties companies pay for expecting prospective clients to show up and try their products, but rich people (nor politicians) have no time for a free lunch in fancy restaurants but still, it is somebody's job to organize these kind of meetings and it is really sad to see all this food and waiters lining up in an empty dinningroom. I am begged to just sit down, fill the space and eat, just because I always dress-up while my colleagues find it more confortable not to wear suits and ties. Once I entered a room and everybody stood up to greet me, they thought I was a minister they were expecting. Dress for success?
These things depend on the country. In Eastern Europe, being poor means you live on the countryside, which means high quality food for (almost) free.
Also, driving from shop to shop is clearly not cheap or a way to save money.
Literacy could be the ladder out of poverty
I'll advise Everyone to invest in stuffs like penny stocks and Cryptos.. it can generate short term profits for you. This ain't stopping anytime soon, just the beginning of the great recession
I'm a huge fan of Crypto. I hold a few coins in my blockchain wallet
BitcoinTrading is the best thing I've ever done since the inception of Cryptocurrency
40% of all my investments are in Cryptocurrency especially Bitcoins and I'm so glad right now because of the current rise of the price
@@user-fy8dy5or8w this is a scam
In Sweden it's expensive to rent appartment, having a car, buying food, travel, buy new clothes etc. It's easy to end up in a debt trap and only having money to pay interest. A lot of Sweds with middle income got it better but if you are poor it's almost impossible to earn more money. You need a great network of contacts even if you done University studies. It can even be better to lower ambitions, it tells a lot about Sweden.
So it's a (extreme) capitalist country (not socialism?)
I thought Sweden was a world class country, anyway i dont think its bad like africa
@@zenith8868 Who have told you that? In the 80's it truly was a masterpiece of socialism. But since then people have become greedy and so have the gaps become bigger. The problem with socialism is that it always ends. It hard to have both socialism and capitalism. It's hard to become happy in Sweden. We are the most depressed people in the world. Finland, Norway and Danmark are better.
You forgot 1 more: Poor people cannot negotiate an income. Since they lack choices it is often used against them. A poor fella cannot afford to say "NO" to a bogus offer that pays minimum wage and they can't start a business that requires a lot of upfront capital. We often don't realize how important our first job is until we are knee deep in the industry and we lack high income skills and experience to make a jump. An unpaid IB internship at Goldman Sachs or a summer Consulting internship at BCG or McKinsey is a much more rewarding offer than an average job at a Tier 2 firm with minimum pay and a flatlined career track...simply because those jobs build certain skills & experience and open some doors...which later on come in handy...but the poor don't get considered for these roles and can't afford to take up an unpaid offer so they end up getting the bad ones and their career goes spiralling downwards.
This is where Formal education & Bootstrapping comes in handy. A Top college degree will not only grant you the skills & the network..it will also change the perception of recruiters..and Aluxers know ..perception shapes reality. Potential employers will now see you as poor but uncommon stock. That can catapult you to the Mid levels to make up for many years lost earlier on...on the other side a business bootstrapped to a certain level of profitability can become the bedrock of success. It can attract better investments at a lesser equity cost and you can expand rapidly from LEAN to MEAN..😂😂
And it won't we be risky to expand at that point because you've spent years paying your dues, understanding the key areas of the business, staying lean..and now you can cash in on that to raise funds round after round and aggressively take up the market.. Now use that to expand into other global markets & to expand into other line of businesses. Now that you know the overall of business management..all you need for any new LOBs are industry specific cofounders with technical knowledge. Use the profits of the established business to seed fund the other ventures...
Put the Top Tier degree and the Top notch Experience together..and you have a recipe for a Fortune 500. Let the first business YOU create, the first job where you hire yourself, become the template for learning new skills and gaining experience..it is the much needed break which you never got from other 3rd parties (if you know what I mean). Build some EPIC ShIT !! Eyes on the legacy the money will follow...
"COME TOGETHER" BABY!! 😁😄😊
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich
@@gomesandrea2784 that's top love 💕💕
My financial situation has changed ever since I knew about crypto
Crypto has brought a lot of benefits to the world
I met a man who introduced me into investing in crypto
@@andreaxavier7910 if he is a legit broker you can hold up to him
*Oxymoron has entered the chat.*
Much love, your friends at Business Explained!!
“I wasn’t poor, I was po’” Oprah
@@runguys370 stop
These could not be more valid. I love stocking up at Costco could not imagine having to pay at the regular grocery store. I don't even bother buying cheap stuff anymore!
I'm the proud 3rd viewer of this video. I'm glad I'm among the top three people in the world to receive this advice.
😂😂😂😂😂
Here here
good for you, I need more money in this life
Good for you, buddy. 😂😂😂
I am happy that you didn't announce that you are an Indian.
Kindly focus on the content rather than being proud of unnecessary things.
this must be the lowest level of being poor if you cant even buy in bulk which would end up saving you money, thats almost like a paradox
The best defense you can have is a really STRONG offense! 💪👌
it's all about being smart than hardwork. lazyness also drives ppl to make stupid decisions and they ended up poorer than before. being poor its just a door, something temporary we can get around the choice is ours stay where u are or move and do something that values you
Thanks
I got inspired now I became billionaire
😂😂😂😂😂😂
Being poor is awful, I didn't have much but living in Hayward California and just California before I grew up and went to the Navy I always found an old ladies yard to cut or garage to clean one day I saw a man robbing his old mother I started cleaning her garage and yard sometimes she would give me five dollars sometimes twenty I was happy to have something then when I was 14 got my work permit started working for Mc Donalds in Castro Valley on Center St. Their were job fairs I was just blessed and very, very, very lucky. When I lived in Colombia I saw a lot of little children grouping up going around looking for food a lot of their parents were murdered for not paying bills, crazy there is not like real foster care in Colombia or welfare, so to me it looks like Colombia fights it self.
Lovely channel! I learnt to be more frugal and I started from eating in and cooking restaurant recipes at home ✨ and then started this lil channel hoping to inspire more cooking with cheap ingredients ♥️
I thought I was considered as poor, but I’m actually in a better position than most. And I will strive for a better and one day wealthy life👏🏽 And become a great philanthropist
Well when you're poor everything has to make sense. A lot of stuff people with money do doesn't make sense to a poor person. Poor people tend to create a box for themselves formed out of their logic same as the one already created for them by their circumstances. So when it doesn't make sense to them they miss out, and they continue to be poor.
Poor people always regret the effort they put into their young schooling years as if it was a lack of understanding or maturity then at the same time never ever pick up a book to learn,never spend any time watching some educational and never set aside any money for education😥the same immature kid is doing the same shit as an adult
Buying in bulk cuts my grocery bill in half. Its crazy!
This is a great video! Just want to say though for the 7th point that when examining why an item is cheaper, examine whether paying more money means paying for better functionality, or whether you might be paying more for branding. Good function of a product is necessary, but image is one of the most expensive things you can pay for, and you might be better off saving that money for an investment.
As they say, "we were so poor we couldn't pay attention..." And yes, there are plenty of ways that being poor keeps you poor. The real issue, in my view, is that thinking poor makes poverty inevitable. Pulling your brain out of the poverty mindset won't make you rich, but you just might see your way out of being poor.
Great Video!
We should learn that procrastination is extremely expensive !
The best time to fix it is NOW.
The video keeps lagging and buffering, but the advertisement streams perfectly without any lag.
Thanks Alux...we appreciate you.
Nailed it and spot on!
Add, vehicle moving violation tickets for the rich is annoyance, for the poor could mean drivers license may be suspended and jail time if left unpaid.
I like how this channel talks about how to be successful even if you start out poor. I think personally the best way to improve the economy is to make sure the opportunity to be successful is available to anyone
This is what I’ve been talking about! My customers are always shook when I explain this to them.
@@runguys370 SCAMMER
Is being poor about money or a state of mind. I know people who have a poverty mindset no matter how much money they get they can never get ahead. I was a single father and had to watch my budget. We switch to a semi vegetarian diet. I save a lot of money since meat is very pricey. I track my spending overtime. We were healthier and saved money.
You have to be strategic in the small ways you can when you start off young and poor through no fault of your own. I always say “I’m too poor to buy cheap clothes.” They just fall apart and aren’t worth repairing. I thrift quality natural fabrics and go to the tailor if I need to... and I use a bike for transportation but I live downtown. So I get fit I guess. 😩
Found a loss, being "poor", to lacking education. I know I can not continue in my work, because of aging. Desired to get into real estate, but can not afford to work for less income while I get training.
Buying in bulk is possible when we "co-op" purchases. Poverty teaches poor people not to trust each other. #lovealux.com
One of your better videos, but in regard to being in the right place at the right time, its true but statistically impossible to be any other way.
I agree except with the health foods parts. Walmart and Publix all have organic store brands. Plus if you cut unnecessary bills like cable and get a second job you can pay to move or get grocery delivery. And a whole sale club costs $50 for the year for membership.
Your content is amazing!!!!
Helps a lot 👍
This video reminds me how lucky I am being from France because we don't have the number 11 problem: even being poor, we can have access to a very decent healthcare without paying!
75% tax rate.
This channel is real. Motivate me big time.👍
Thank you Alux for making this video, for bringing light to this system
See I was poor minded then I became broke minded, and now. Well let's just say I'm still learning, but I've heard of Rickers, Buffet, Kiyosaki, Gates, Bezos, and more. I 4got his name, but they aren't in the business of selling burgers, they're in the business of real estate...Almost 4got Dan Peña....#TrueAluxer
Hey Alux.
You should make a video explaining special tax treat that most people have never heard.
For example presidential tax.
These battles are lost when they are children who enter school not even knowing A B C s. Poor parenting
I’m impressed by your Atlanta reference . Someone on your team is Black & I love it 😻 Dare I say, the host is Black. Either way, it’s love. Also, there are true af sociology facts like being poor costs you mentally (#16). It costs you your physical health too!
Fabulous Friday’s #2020 Mindset Mastery
12:34 I don’t think I’ve ever heard her say a curse word... took me by surprise lol
This video is coming in at the middle of the story. Perhaps a discussion about the poor decisions which lead to poverty would be useful.
I love timestamps in youtube videos and people who comment points of youtube videos.
Real Timesavers !!!I
It's funny because I receive SSI as income I'm also receiving supplementaland the funny thing is I don't have any of these afflictions listed but also I don't have any addictions well I am able to put way $200 a mouth and buy the things I like. And I'm considered a poor person because my monthly income is $780 but the reason I'm doing so well is because of government programs like SSI food stamps supplemental housing and places like soup kitchens so using all this to my advantage I have plenty of money to save.
I agree 100%. I've been there...I found over the years that it always cost me more when I was poor.
Time is the biggest expense. People with money can use it to free up their time in many ways. They can use that time for education, networking, doing additional money-making activities. Time is the most expensive cost of being poor.
Well explained a lot,City is a lonely place.province is a paradise place..must grow organic fresh fruits and vegetables 🍅.that is only materials things. thanks for sharing your information.God bless and peace grace to all of us amen 🙏 alleluia 💕❤️
✨ Hey Alux! Thanks for your so wise words! I want to share one of my favorite phrases > If you are born poor, it's not your fault. But if you die poor, it's your fault. < - Bill Gates
Truly thank you alux u have changed my mindset on money it completely astonished me when hearing about buying in bulk and doing the math
The commuter point made me laugh! This must have been made before COVID, virtual working 4 life!!
Question - why are you having a baby when financially struggling in the first place?
Nice content again Alux. Realization again especially in health issue. 🤒😷🤕
I can say from experience with cars although my situation I tried keeping up to date with everything it was just one thing after another and bad mechanics giving me service.
Watched something similar at 2 cents. "Why being poor is expensive"... content with the content
Very Wise and eye opening 🙏🏾😌
This is super depressing. No wonder why some people kill themselves. Simply existing is too expensive and for the longest time, I can completely understand why I can't wait to die. Being poor definitely makes you feel way older than you actually are. Even though I have people who genuinely love and care about me, unfortunately sometimes that's not enough when you're financially fucked :/
I Didn’t expect that! I need to add this in my next video.👍
I bought into being poor and now, because of the pandemic, I can't keep up with the payments
Same 😫😫
Brilliant video. Perhaps the right eyes will see this.thank you.😊
Everything cost more when you are poor, insurance, rent, food, transportation. And a lot of things are tied to your credit score even employment,
✨🙏🙏✨🙏🙏 Thank You Again Alux. Your informative ways are a a blessing.😊😀✅✨🙏🙏✨
Should do one on how downsizing moving can cost
Since the pandemic, a lot of products at the supermarket did increase in price.
Another mention of South Africa 😁 Hello!
It is true that when you are in the city, you have access to many things, great deals and buying in bulk.
"Melovember 2" will be released Nov.20.2020 pre-Order today!!! blessings to you all
I have done your research very well to make this video, everything it's very true.
The title came from the contents of one of the Sunday motivational videos I recalled....
I enjoy this channel and it is very informative but point three contradicts a point in another video. Which says, do not drive to 3 different stores to save money!?
This is why I'm trying so hard to make and save money to not be poor or scared all the time
Reality. I have experienced this over and over, very hard to break the cycle of poverty.
Is the supermarket shown from 3:26-3:42 an IGA? That's because the layout reminds me of my local IGA in the northwest part of Langley B.C. I also ask this because you and I are both Canadian.
Point 8 it should be usurpers, right?
Wow good research
1:13 You mean poor people don't have that MINDSET! Not luxury. (At least how I feel)
The rich stay rich by investing like and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich,
Well said
You are right, investing is the key
Well that's generally true its concerning that several of the richest most successful investors are sitting on the sidelines right now and waiting for a better entry point
So true lol, it doesn't make sense
It can be said a little simpler, if you want to be rich then focus on saving and investing, if you want to be poor then focus on spending
There’s are some shocking truth!
Heads to make huge & major life saving move immediately! Thank you Alux you might’ve just save a life or 2
In America most people are poor because of shitty life choices. Teen pregnancy, dropping out of high school, drug addiction, lack of motivation, etc.
"Fun Fact" You cant breath while smiling.
Joking Just Wanted to Make you smile 😀❤️
Hahaha seriously
Thankyou so muchh 😀
Thank you 😁 I needed this today ❤️
I have seen 6 Ads while trying to watch this. i cannot remember what the video is about. This is worse than cable tv
Awesome👍
That is so True for Fast Food in Philippines. Rich people dont eat at Fast Food. Because the rich dont like CCTV camera and paying too much.
lol ok
Having kids early in life is great because you have more time with them although it usually makes it a lot harder to build wealth.
"Only way up for poor people is in an elevator."😄Lmao this bitch is savage!!!
Please can you addd subtitles in your videos ????
Junk food is certainly not cheaper. A candy bar or small bag of chips is at least $1. A banana is 20 cents. It's about choice.
You should make video on wireless technology