This Group Is Sharing Painful Truths And Jokes About Being Poor, Here Are 40 Of The Best
Interview
Google "how to save money" and you'll get 3,740,000,000 results, promising you will be able to save up for any purchase if you just give them a click and scroll through their ads. Oops, I mean, text. Move over Jerome Powell, nowadays even teenage TikTokers are experts on macro and micro economy. Or are they?
The members of the subreddit Poverty Finance: Personal Finance For The Financially Challenged don't think so. And when you look at their content, it becomes pretty difficult to disagree with them. These Redditors share actual financial advice, frugality tips, stories, opportunities, and general guidance for people who are struggling financially. Oh, and they also torch pseudo financial gurus, burning their out-of-touch content to a crisp. My favorite.
So this time, as an introduction to the online community, we'll focus on the jokes and memes they've collected since getting together in 2018.
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Being Poor Is A Choice? If You Play By The Rules You'll Be Safe? Really? Tell That To Him
A huge part of this community's charm is its inclusivity. "Much of the financial advice online and on Reddit is aimed at people who have varying degrees of disposable income, ability to invest, lots of free time, available transportation, no kids, a partner, access to credit, and beyond," the people running the subreddit write in its 'About' section.
"This is a place for people who do not have a lot, nor ideal circumstances, to help each other get by and hopefully move up in the world."
Being Poor Is Expensive
What A Lot Of "Frugal Bloggers" Don't Realize
As of this publication, it has 847K members and if you relate to Poverty Finance's content, we suggest you join them too. "You do not have to be absolutely destitute to be here. Whether you are a single parent only pulling 10K a year, or a single person trying to get past student loans at 28K, you are welcome here," the moderators say.
"The goal here is to help anyone who doesn't have a lot of breathing room get to a place where they have stability, comfort, contingency, and maybe even a little luxury."
So True It Hurts
We picked a credit union because we made it clear that if we don't have the money, we wanted to be declined. No bank would agree to that but we found a credit union that promised they would not if we signed up for the overdraft protection. They got rid of it a year later without telling us, my husband was 50 cents short and our credit union allowed the cable company to try to run the payment 3 times in one day, meaning 3 overdraft fees of $32 for being 50 cents short. My husband gave a very impassioned speech in the lobby, about how they were their to protect our money and they had left us exposed, etc. Told them that our money was better protected in our mattress. The manager came out, agreed with my husbands logic and set us up a line of credit so if we don't have the funds in our account, it pulls from the line of credit automatically. No overdraft fees in 10 years. Highly recommend if you can find a bank who will set that up for you.
Just A Holiday Reminder
That's how I think about unnecessary purchases. "Well, this coat will cost me three days work", or renting a movie will cost five minutes work, or and a possible vacation will cost two weeks work or whatever. Thinking about whether an item is worth the amount of work put into buying it really puts things into perspective!
We contacted the moderator team and one of them was kind enough to spare their morning break for us. Regarding the content on the subreddit, they told Bored Panda: "There are fewer themes and more cyclical subject matters that come up depending upon the time of the year and the current economic and social ongoings. Right this moment, questions about housing, the moratoriums, how to get an apartment with low credit, or whether even buying a house is within the budget of those who fit within the national and international descriptions of low income/poverty line."
As an example, the moderator took us back a few months ago when there were many questions regarding the Emergency Broadband Benefit program issued by the government. But with fall fast approaching, they think the subreddit will soon see questions about how to get supplies for students and questions on how to qualify for free or reduced lunches at school."
Had A Good Laugh At This
Love this! I think I'll go out today and invest in some avocados. I finished my last investment (bananas), and want a change now.
*Sad Noises*
This is exactly my situation. Rent is almost 900e/month. If I somehow managed to save 4000-6000e, I could ask for a loan at the bank and buy a nice place at 120k. And pay that 500e or something a month for 25 years. But I can't save much because my pay is 1900e / month and over half goes to rent and bills.
A nice place at 120k in an area where you pay 900 Euro rent? Either you live in a luxury flat in a poor area now and want to buy a normal flat or you live in a normal flat and want to buy a closet.
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It's a good thing that landlords exist. In countries where there are strict rules and laws, the system of renting out property to people who can't or aren't willing to buy, works. And as in all walks in life, there are good and bad landlords. But it's up to the renter to keep his eyes open before signing a contract for some moldy dump infested with bed bugs and cockroaches.
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It has now got to the stage where landlords want to check that you can afford the rent. So I'm renting a house for £800 a month now and I want to rent yours for £800 a month. How much do you earn? We'll only rent it to you if the rent will be less than a third of your income. **** off!
I got refused a house share once because I was on a part time contract with a constant supply of overtime if needed yet they didn't think my income or job was stable enough to live there. I'm sorry but the reason I wanted a house share was because I'm on low income jokes on them after finding another house share for six months I have the same job with my own private rent flat now.
Load More Replies... A 20% downpayment wasn't so unreasonable back when houses weren't so expensive. Now it's just a huge barrier for the vast majority of people.
Well, this example sucks, because owning a home is more than just your mortgage. A lot more. So if you can't save besides that 1000 dollars, you won't be able to save as a home owner. And probably will lack the money to keep the property up. That means that the investment for the bank is at a high risk. They only do that, because they don't give a s**t about you and have to by law be more strict when it comes to this. That's also not meant to defend the system, the system sucks balls.
As someone who looked into buying an apartment, the places that look cheap on paper in a bad market are shitholes that have fallen into so much disrepair that you’ll just end up paying the higher amount anyway. And/or you still have to pay building rent, which is hidden in the small print and the building owner can and will jack that up at any time. Tweets like this just gave me false hope that once I DID save the equivalent of £25k, I’d be able to afford to buy an apartment.
Yes, you pay more to your landlord, but you pay flexibility. You can leave anytime and if you fail to pay, your contract stop. However, with a bank, you lose this flexibility. And thus the bank needs to be sure that you can actually pay on the long term (I live in my van, actually. Cheaper and easier)
They have this thing called mortgage insurance, basically it means your mortgage is $150 more a month because you don't have a down payment. When we bought a house we basically sold everything we had to avoid that mortgage insurance. Wasn't enough so we went to my FIL and he loaned us the remainder of the down payment. I am incredibly grateful that was an option for us. We could afford the extra $150 but it was such bullshit to have that in the first place. Since we bought a foreclosure we were able to refinance because we had over 100k in equity and paid my FIL back the down payment. My family lives in poverty so it would have never been an option for me if I hadn't married my husband. His family isn't rich but he's dad had just sold his business and retired. Felt horrible to then ask him to lend us part of his retirement even though we paid him back immediately.
Why would a mortage only be $500 a month unless you put like half the money down.
MORTGAGE INSURANCE SUCH A SCAM. Making people take out insurance that makes them have to pay MORE money per month to make sure they can pay their monthly mortgage. Someone please make this make sense to me.
At some point, some logic will apply but not any time soon. Hang in there.
People only look at how much the mortgage will be. To buy a house, you have to look at the water bill, and land taxes, and any repairs that the property may need. And it could all add up to more than twice the mortgage.
This is where the "A mortgage is cheaper than rent" argument fails. Our Mortgage is roughly the same as what our former apartment now is, we pay $1,900 for our mortgage and the rent at our old pace is now $1,690. But.... we put $160,000 down on our house, with $15k in closing costs, and oh yeah, $7/yr in property tax. Took us 20 years to save up for that, and my parents helped basically giving us some of the money they would have left me in the will instead of waiting till they died.
This one bothers me a little because it's overly simplistic. Rarely is a mortgage THAT much below rent on a similar property, but mostly rent includes things that an owner would have to find the money for. Need a new boiler? That will be £3000+. Need to fix the roof, that could be £10,000+. Major water leak? That's on you too. Rented properties, landlord pays for these.
"Once we approach November to December, we will be fielding questions with regards to worries about being able to afford gifts for their children, how to survive the holidays if you are economically disadvantaged," they continued. "Year-round common subject matters tend to be where to find the resources for food, someone to handhold or direct on how to apply for SNAP/EBT, Section 8 Housing, the hardships of just existing in society this day and age and just looking for some emotional support from their economic peers."
According to the moderator, their community is mostly composed of those who have or are currently experiencing poverty. "Whether it's [someone who faces] generational poverty, long-term poverty, short-term poverty, or self-identify as low income for their various regions. We have those who have made it out and into the middle class but are still dealing with the after-effects of having experienced poverty short or long term and the problems that that in and of itself brings."
Financial Health Is The Best Form Of Therapy
Money doesn't buy happiness, but it does buy food, housing, heat, clothing....
Can Anyone Explain Where My Starbucks Money Is Going?
Not drinking enough coffee. You could be a billionaire when you're high on caffeine. Infact, you could be anything.
Certified financial planner and frequent contributor to Forbes, Jeff Rose, agrees that there is no shortage of bad financial advice in this world. Rose finds it especially troubling when some of them become so widely spread, so championed, that people actually start blindly following them. The financial planner believes the most harmful tips are: 1. Never use credit cards; 2. Don't waste money on conveniences; 3. All debt is bad; 4. Getting a tax refund is bad; 5. Always get the 401k match; 6. Your home is your most valuable asset. Click here if you want to read Rose's thoughts on each point.
Talking about bad financial advice, the moderator of Poverty Finance thinks it has to do less with authors and influencers being out of touch and more with the fact that one size rarely fits all. "More and more people gain access to technology that's being developed to give the everyman more access over their finances and their financial future," they explained. "Things that were previously thought to be the purview of just the upper class or left to the financial professionals who knew better."
Pretty Much
Stress
But they wonder if it can also be a sign of gatekeeping: "Oh, you're poor? Then you have no need for financial advice, it won't benefit you or the maintenance costs made what amount you wanted to add in, too costly and pointless. You can't come up with 10k to open an investment account? They don't want to deal with you. Salary jobs usually come with a 401k, hourly jobs at McDonald's and the like generally do not, and so you're left on your own to figure it out because no one will help you."
The good thing is that technology might be starting to bridge that. "People realize that there are far more low-income and middle-income individuals with a willingness and ability to put away ten, twenty, a hundred, five hundred a month into an account. Who care about not having to work once they hit sixty-five. A neglected and overlooked economic subset who have a significant buying power en mass. But the advice isn't there from the usual places because their advice only works for the upper income. For the gross amounts of money vs the smaller amounts," the moderator added.
I Know Many Of Us Are Taking Responsibility For Our Part, But...
The lie that all poor people are poor because they're "bad with money" needs to die.
It’s Not That Hard
But the reality is a bit worrying. Financial literacy — defined as the knowledge and understanding of areas related to personal finance, money, and investing — has been in decline. In 2009, 42% of respondents were able to answer four or more questions correctly in a five-question survey on fundamental concepts of economics and personal finance. By 2018 this dropped 8 percentage points to 34%. What's even more alarming, less than one-third of adults understand three basic financial literacy topics by age 40, although many important financial decisions are made decades earlier.
Under such circumstances, (online) communities like this one might be doing society more good than we can imagine.
Money Saving Tip!
They are not everywhere.Distance costs money but the peace and books are worth more than anything. *sighs
Me, Organizing My Finances
To Be Honest
I Felt That While I Laughed
I’ve Never Felt More Prepared
Ain’t That The Truth
Poverty Marriage
One Star
Amirite
Overdraft Fees Cripple People Already Struggling Financially
It Never Ends
Well, It's Technically A Phone Number...
It’s Almost Offensive, Right?
Santa Won’t Bring Me Rent Money
Big Poverty
Of course there is. Nothing easier than taking advantage of someone who can't afford to fight back. It's the socioeconomic equivalent of beating up crippled people.
Finally Figured It Out
It’s Fine, I Didn’t Want To Have Fun Anyway
Breaking News! Millennials Are Still Poor
Oof
Well if you want to look on the bright side of things, we poor folks are always ready for that struggle battle, and come out of it alive until the next one comes along
Here’s How To Pay Off Your Debt
Save Half Your Paycheck, Regardless Of Whatever Else You Have To Pay For, Regardless Of What You Earn, I Guess
And It Also Doesn't Have Debt
Pigeon breast cooked in a herb and cracked pepper butter, with a red wine and plum sauce reduction on a bed of sorrel leaves. And $20 to spend on drugs and alcohol.
Two Ways
I have just been able to retrain for a job that will pay me more, with a government grant and £10 000 of debt. I mean, I worked hard, but essentially I paid for a qualification in order to earn slightly more money, which I will now spend several years of my life working off. I do wonder if it was worth it.
This Hit Me Hard
YES. Double if you have a sibling doing better than you, that your parents like better, but you’re still the retirement plan.
Game Stop Stock
"Poor People Are Just Bad At Saving Money"
So True
There are only houses in this price range in some states. Definitely not California!
Note: this post originally had 51 images. It’s been shortened to the top 40 images based on user votes.
I went to open my first account in Japan. It was at Citibank. They explained that they would charge $50 per month if I had less than $500 in it. So I asked "so you take money from me if I don't have money?! Is that a joke?". He said it's standard at any bank. I laughingly said "no it's not" an opened somewhere else that doesn't have those fees, even though it was hard because I didn't speak Japanese. I will never even try another American bank.
Ha. I had this same experience. I opened with CitiBank (hilariously Shitibanku in Japanese) because I needed a place for my paychecks, rent, etc. Luckily I was able to maintain the minimum. After a few months, I was able to get my office manager on the phone to set up an account with Mizuho. That said, I've never had fees in the US on any bank.
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Was talking to a buddy of mine a while back. He told me that he and his wife had a deal. If either one of them got really sick, they'd immediately get a divorce so they wouldn't totally destroy the family's finances. Why the hell should that even have to be on the table? To have to do such drastic measures just to avoid ruining your finances is just criminally depressing.
That is sad. Kudos to them for their creativity in finding a solution, but awful that they had to resort to a plan like that.
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Eddie Vedder had a great take on wealth: There's only two things I appreciate about finally having some money. The first is I no longer have to worry about money, & that's such a constant burden that's lifted. And secondly, I can help those in need or help righteous people or organizations that deserve it. Money is like fertilizer: If you spread it around it can do a world of good. If you don't, your selfish ass will end up with a pile of s**t.
The quote is "Money, pardon the expression, is like manure. It's not worth a thing unless it's spread around, encouraging young things to grow." Dolly Levi.
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I don't understand,if we are majority in population then why does everything work against us?(Us being the broke people,poor)Have the capitalists really bought the earth so only they get to live in them?
Politicians don't get elected unless they are financed, and political campaigns cost an absolute fortune. Most people are only politically active during election season so once the election is over, the support base disappears for another 4 years. This means that the laws and finance sectors are created and regulated by the people who made them (the top 1%) and they have structured it to benefit them alone and exploit everyone else. Politicians can't do much against this because they receive all of their financial support from that 1% and will not be re-elected if they try to pass anything to restrict them exploiting others. That and half of the population sees this restriction as punishment for success, even though that success is built on exploiting workers, or because they fear they will lose the jobs they have now. I am coming from a very Western view so this doesn't apply globally but that is the jest for most developed nations.
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Unpopular opinion but it feels like the average family is being priced out of having children too. The UK literally has the most expensive childcare in Europe (possibly the world) you either have to a) not work to look after your kids . b) be privileged enough to have a very well paid job. Or c) have a family member that is able and willing to watch your kids for free. The only other option is to not have kids at all. I appreciate a lot of people don't want kids and that's fine. But surely it shouldn't be a choice of poverty or a child(ren)
I feel this list deep in my bones. Just been knocked back for a home loan. Got a deposit, all our ducks in a row. The reason? We don’t earn enough money. The mortgage repayments would have been around $300 a week, give or take. But $450 a week in rent? Sure! You can afford that! Sign here! 😡🤬
Our daughter has got her first job. It's going to break my heart when she gets her first wage
Twisted ankle and just bought a brace to avoid going to the doctors. Only went to the doctors after twisting it again the morning after. It felt worse and was afraid I broke something because I don't know how to make a cast. Turns out I just further torn my tendons. After my ankle healed I kept the air cast and crutches in case I get injured again to avoid going to the doctors. Cuz doctors = money
When people say nothing better then laugh about yourself, they mean this ? Because I first laughed, because the other option would be cry.
No one wakes up and decides to be poor. No one. But when the wealthy start foundations it’s their way of keeping from having to pony up their share. I just want to have a stable roof over my head, and maybe, maybe decent healthcare so that during, say, a global pandemic, I have an equal chance at recovery.
Way back in 2007, I went to Chase bank to open a checking and saving's account. I stand on line, get to the front, say what I needed. So I was led back to someone's desk, and everything was fine.....But when she saw how much I got paid, she very kindly told me I didn't make enough to open an account with them. I was mortified, got up and walked out. If I EVER make it big, I will NEVER do business with Chase. The experience with them, really made me feel like crap.
Moral of all this: If you born well-off and are without conscience, you can be rich! Of course, if you are born poor and are without conscience, you will end up in prison. ....
Once, just for fun, I saved four avocado seeds and planted them. I used to joke that my four little potted avocado plants were my retirement fund. Then they all died because I am a terrible gardener and live in entirely the wrong climate.
I don't get investments. When does one reap with the benefits and cash out? If I can make a monthly profit and cash it out when I have to pay bills I'm all game for that.
You reap the reward when, and only when, and if and only IF, someone in Wall Street/The City/whatever decides NOT to crash the whole economic system for short-term gain.
Load More Replies... Let’s see. Working people spend the money they earn so that money goes back into the economy. Rich people hoard their money and it never reaches the economy.
Load More Replies... I went to open my first account in Japan. It was at Citibank. They explained that they would charge $50 per month if I had less than $500 in it. So I asked "so you take money from me if I don't have money?! Is that a joke?". He said it's standard at any bank. I laughingly said "no it's not" an opened somewhere else that doesn't have those fees, even though it was hard because I didn't speak Japanese. I will never even try another American bank.
Ha. I had this same experience. I opened with CitiBank (hilariously Shitibanku in Japanese) because I needed a place for my paychecks, rent, etc. Luckily I was able to maintain the minimum. After a few months, I was able to get my office manager on the phone to set up an account with Mizuho. That said, I've never had fees in the US on any bank.
Load More Replies... Was talking to a buddy of mine a while back. He told me that he and his wife had a deal. If either one of them got really sick, they'd immediately get a divorce so they wouldn't totally destroy the family's finances. Why the hell should that even have to be on the table? To have to do such drastic measures just to avoid ruining your finances is just criminally depressing.
That is sad. Kudos to them for their creativity in finding a solution, but awful that they had to resort to a plan like that.
Load More Replies... Eddie Vedder had a great take on wealth: There's only two things I appreciate about finally having some money. The first is I no longer have to worry about money, & that's such a constant burden that's lifted. And secondly, I can help those in need or help righteous people or organizations that deserve it. Money is like fertilizer: If you spread it around it can do a world of good. If you don't, your selfish ass will end up with a pile of s**t.
The quote is "Money, pardon the expression, is like manure. It's not worth a thing unless it's spread around, encouraging young things to grow." Dolly Levi.
Load More Replies... I don't understand,if we are majority in population then why does everything work against us?(Us being the broke people,poor)Have the capitalists really bought the earth so only they get to live in them?
Politicians don't get elected unless they are financed, and political campaigns cost an absolute fortune. Most people are only politically active during election season so once the election is over, the support base disappears for another 4 years. This means that the laws and finance sectors are created and regulated by the people who made them (the top 1%) and they have structured it to benefit them alone and exploit everyone else. Politicians can't do much against this because they receive all of their financial support from that 1% and will not be re-elected if they try to pass anything to restrict them exploiting others. That and half of the population sees this restriction as punishment for success, even though that success is built on exploiting workers, or because they fear they will lose the jobs they have now. I am coming from a very Western view so this doesn't apply globally but that is the jest for most developed nations.
Load More Replies... Unpopular opinion but it feels like the average family is being priced out of having children too. The UK literally has the most expensive childcare in Europe (possibly the world) you either have to a) not work to look after your kids . b) be privileged enough to have a very well paid job. Or c) have a family member that is able and willing to watch your kids for free. The only other option is to not have kids at all. I appreciate a lot of people don't want kids and that's fine. But surely it shouldn't be a choice of poverty or a child(ren)
I feel this list deep in my bones. Just been knocked back for a home loan. Got a deposit, all our ducks in a row. The reason? We don’t earn enough money. The mortgage repayments would have been around $300 a week, give or take. But $450 a week in rent? Sure! You can afford that! Sign here! 😡🤬
Our daughter has got her first job. It's going to break my heart when she gets her first wage
Twisted ankle and just bought a brace to avoid going to the doctors. Only went to the doctors after twisting it again the morning after. It felt worse and was afraid I broke something because I don't know how to make a cast. Turns out I just further torn my tendons. After my ankle healed I kept the air cast and crutches in case I get injured again to avoid going to the doctors. Cuz doctors = money
When people say nothing better then laugh about yourself, they mean this ? Because I first laughed, because the other option would be cry.
No one wakes up and decides to be poor. No one. But when the wealthy start foundations it’s their way of keeping from having to pony up their share. I just want to have a stable roof over my head, and maybe, maybe decent healthcare so that during, say, a global pandemic, I have an equal chance at recovery.
Way back in 2007, I went to Chase bank to open a checking and saving's account. I stand on line, get to the front, say what I needed. So I was led back to someone's desk, and everything was fine.....But when she saw how much I got paid, she very kindly told me I didn't make enough to open an account with them. I was mortified, got up and walked out. If I EVER make it big, I will NEVER do business with Chase. The experience with them, really made me feel like crap.
Moral of all this: If you born well-off and are without conscience, you can be rich! Of course, if you are born poor and are without conscience, you will end up in prison. ....
Once, just for fun, I saved four avocado seeds and planted them. I used to joke that my four little potted avocado plants were my retirement fund. Then they all died because I am a terrible gardener and live in entirely the wrong climate.
I don't get investments. When does one reap with the benefits and cash out? If I can make a monthly profit and cash it out when I have to pay bills I'm all game for that.
You reap the reward when, and only when, and if and only IF, someone in Wall Street/The City/whatever decides NOT to crash the whole economic system for short-term gain.
Load More Replies... Let’s see. Working people spend the money they earn so that money goes back into the economy. Rich people hoard their money and it never reaches the economy.
Load More Replies...