Have you ever thought about what it would take to get out of poverty? Or, perhaps you are in living in poverty yourself and are trying desperately to escape its grasp. It most certainly isn’t an easy feat.
My Past Perceptions
When I was in college, I didn’t realize how blessed I was. Because of an excellent high school education, I was able to receive many scholarships at the local university. And, on top of that, my parents were also willing to chip in by paying some important expenses.
One day, while driving through town with my friends, I observed a man that was clearly homeless. He was looking for pop cans in the trash. I looked at him in disgust and blurted out something like, “Why doesn’t that guy just find a job and get off the streets?” It seemed so simple to me (I didn’t realize how arrogant I was at the time).
A few years later, after graduating from college, I realized that not every person can find a job in this world. But, when I was presented with a question from my friend, “If you were in poverty, what steps would you take to escape that life?”, I had quite a simple answer. “I would head to the local library and start a website,” I said. Again, this was quite a naive answer. This response assumed that every homeless person is educated and well-versed with computers and the Internet. This is simply not the case.
A few years later yet, and I have developed a new solution for one to get out of poverty. It is not a “one size fits all” answer, simply because every scenario is different.
The Two Most Important Assets
There are two very important assets that many of us take for granted. No, I’m not talking about housing or vehicles. The two important assets are time and money.
At this point in my life, I have more money than I have ever had before. With it, it is quite easy to invest it and develop more money. But, what if you had absolutely no dollars? Well, you simply couldn’t gain dollars with money that you don’t have could you? Those that are in poverty have very little cash to invest, so their future is simple: poverty.
And how about time? I also have a little bit more of that lately as well. With it, I can choose to work on my website or write articles. This yields me more wealth. Those that are in poverty are typically single parents with two or three jobs. They are already lacking sleep. How could they possibly put in more time to improve their situation?
Time + Money = Opportunity
Time + Money = Poverty
How to Get Out of Poverty
If they poor do not have money AND they do not have time, how can they possibly get out of poverty? The first step is quite simple really. They need help, otherwise they are destined to remain in poverty. This help can come in the form of money or food, but the best kind of help is through friendship.
Time + Money + Help = A Chance
Those in poverty need to do what they can get help, but they can’t just expect handouts. The local church may be able to find available jobs, or someone to room with to decrease expenses. There may also be non-profit food distributors that can help. Do whatever is possible to increase your cash at the end of the month.
Secondly, one must deny themselves of any luxury for a very long time. At the poverty level, I am talking about items like alcohol, cigarettes, or even lottery tickets (no matter what you may think, the lottery is not your answer). By only purchasing the true necessities like food, shelter, and clothing, you should soon be able to save up some cash.
Time + Money + Help + Frugality = A Small Cash Balance
Third, education is key. Without having the knowledge that is necessary for a high-paying job or a business of you own, you will continue to live in poverty. Visit your local library and read the books, surf the web even. There are more and more courses that are being offered for free each day. Discover your interest and follow your passion in your future work. With your disciplined efforts and unbelievable experiences, you may soon escape from the bondage of poverty.
Time +Money + Help + Frugality + Education = Opportunity
It is certainly more difficult to live a middle-class or wealthy lifestyle when you are pulling yourself out of poverty, but it can be done.
How would you get out of poverty?
Hopefully I didn’t depress you too much with this topic. If you would like some lighter reading, here are a few other posts that I enjoyed this past week.
3 Common Car Buying Mistakes That Could Cost You Thousands by Faithful With a Few
Top Student Loan Scams by The College Investor
Should You Accept a Promotion If It’s Not Your Dream? by Beat the 9 to 5
Reasons Why I’ll Not Leave My Fortune to My Kids by One Cent at a Time
Eating Healthy on a Budget by Budget For Health
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.