Money/asset-wise, in your particular country/region.
Just curious. No one has to answer.
Statistically, in my country of America, I grew up poor, and am now in-between. But not far above the poverty level, really, according to stats.
I think being poor and rich is a perception and a very relative one. How can you defy one? In Canada though you have to have lots of money (or credits) to be considered rich. I know I am not. I cannot even afford a car or buy a house. Am I poor? I have a job and a second one part time, trying to save some money. And I see a lot of people around in Toronto, who does not have anything but social assistance. So am I poor? You better anwer that, I don't know.
poor, always poor. At one time I was earning enough self-employment (gross income)to be considered middle income but then after subtracting expenses I was poorer than poverty.
Gross income was $35,000
After expenses income was < $7,000.
I don't consider myself rich, however, I have learned to save and only buy what I need versus what I want.
By living a frugul life, many would consider me well off because I have no morgtage or any other debt.
can save a litle bit out of my money each month, but I am living stingy, got to cut off lifes leisure! I learn to prioritize, I am happy though! always have been!
Money wise I have always been poor. I get rent help from the gov. and pay the rest of my bills from my small wages. I recently lost a job and the second job is next for the axe. I actually feel strongly that I am being discriminated against for my past mental health issues and am seriously considering the possibility of taking it to a law suit. Yeah technically I am poor, but I don't feel poor, not by a long shot. My assets are my friends and family who help in any way they can and are loving and supportive. In my life I feel very rich indeed and someday (soon) my bank account will reflect that. I guess I am both rich and poor .
I recently heard a goal of a long distance friend, it was to be earning enough to pay £1 million a year in taxes. I really liked that goal as its focused on what one is able to contribute as opposed to what one gets. I mean really if you are paying that much per year in taxes you must be doing pretty darn well.
I would say middle income for us. But eventhough we make a decent wage, we still struggle to afford everything we need.
it is difficult to pay bills on time and in full and we dont even own any credit cards or lines of credit and all our vehicles are paid off.
it just seems that there is always something that has to be paid, ie, hydro (incredibly expensive where i live), plates, licenses, insurance, phone, school taxes, municipal taxes, bus taxes,etc. And when you have 3 kids being middle income doesnt always take you too far. we dont vacation longer than a weekend close to home. we dont buy big stuff, all of our furniture and appliances were second hand or given to us. clothes are mostly second hand from cousins. but even with all that frugal living, we still struggle. go figure. I would say that a lot of our income is eaten by grocery bills. the prices are ridiculous.
on an upbeat note, my new business is starting to take off and my husband is back to work after a couple months of unemployment and so hopefully, we will move up from middle income to higher income. wouldnt that be nice? well, i can dream can't i?
My OH and I have a combined income below the national average, but we get by - mainly by not having a car or going on holiday, other than the occasional bus trip or hop across the Channel for a day!
The trouble with having a high income is that one's expenditure usually goes up to match it. For example, a high-paying job usually means a long and expensive commute. And more money doesn't necessarily mean you're happier. In fact, I'd say I was happier than most of the people I know, whatever their income.
My medium-to-long term aim is to build up a steady stream of passive income: it doesn't have to be huge, just enough to act as a cushion and pay a few bills every month. I am also getting more and more into the idea of looking at wealth as being more than just money: being able to grow a bit of your own food, and using barter - so-called "conviviality". My hope is that our b*****d government doesn't try to tax this.
by alexandriaruthk 4 years ago
How can we close the income gap between the rich and the poor?Increasing the minimum wage, any suggestion?
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In my experience, they are more than they are not. Science backs it up. Your thoughts?https://www.washingtonpost.com/news/spe … 503c1fe516
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