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Three rules for staying out of poverty

Eh, I did all of those things right and still landed into poverty. Graduated high school. Heck, I graduated from college. Full time job. Married at 25. Ran a business with my husband. Then had kids. I did it all "right."

For me, it was divorce which landed me in poverty. Despite so many rules and supposed repercussions in place, an amazing number of parents don't pay their court ordered child support, and even more amazing the court doesn't do much about it. /end rant on that subject

Just saying...there are tons of reasons people find themselves broke, homeless, whatnot. Doing it all "right" doesn't prevent life from happening and mucking up the best of plans.

Actually you are right. Most financial articles of that nature will also mention that those who never divorce are much more likely to retain wealth.

Just like the other factors, that doesn't mean that somebody should never get divorced or that it is "easy" to get married and stay married. These things are not always meant to be value judgements, they are just statistical facts.

A person who

graduates High School
delays having children until a job/career is established
delays marriage until a job/career is established
and never divorces
is statistically much more likely not to live in poverty.

It's like saying those with college degrees makes millions more than those with high school degrees. Not everybody with a college degree will make millions more and plenty with only high school degrees earn bucket loads of money. It is just speaking on general terms.
 
I'd like to add a 4th tip: Spend less than you earn (this works for people no matter how much or little you make)
:thumbsup2 I would make this first on the list!

In reality the poorest person in the U.S. is rich, and has many, many more opportunies compared to the the average person in a 3rd word country (which is a huge majority of the world). It's a bit disconcerting to live in an area of the world where people are litterally dying of starvation and from curable illnesses and hearing about "poverty" in the U.S. I think our Western wordview is a tad askew.
 


I never had anyone ever wake me up for school either. My parents were 16 and 17 when I was born. We lived it whats called shacktown here in my city. They partied all the time never caring whether my younger sister or myself had food or clothing. I took care of my sister, even babysitting so that we could eat. I never was able to study because I had to take care of the house and had to make money to feed us. I never had the supplies for school I needed. I made sure both my sister and I graduated. We both went to college. I am a teacher, and she is in the medical field. So I think it's bs that not every person can succeed because of how they were brought up.

Yhank you, for not only pulling yourself through what must have been very difficult, but caring enough about your sister to do the same thing for her!!!:goodvibes:
 
I am always fascinated by those wealthy DISers who hang out on the budget board:)

But if you didnt have to pay a dime for college-why did you end up with student loans?

http://www.disboards.com/showpost.php?p=43404086&postcount=13

I wouldn't have thought that growing up in a wealthy background would have meant

" tiny NYC apartment with 6 other people and no air, no place to play, no grass. I was miserable. I mean I was blessed because I had a loving family but would I want my kids to grow up like that?"

http://www.disboards.com/showpost.php?p=38372249&postcount=54
 
I wouldn't have thought that growing up in a wealthy background would have meant

" tiny NYC apartment with 6 other people and no air, no place to play, no grass. I was miserable. I mean I was blessed because I had a loving family but would I want my kids to grow up like that?"

http://www.disboards.com/showpost.php?p=38372249&postcount=54

Here she was rich again.

"So I didn't grow up poor, so I don't know if that has any thing to do with it. In fact I grew up pretty well off but we were taught not to waste and to work hard."

http://www.disboards.com/showpost.php?p=42926395&postcount=17
 


Well - for some people it's just not that easy.

Graduating from high school is not too hard for some, almost impossible for others. Some kids are living in incredibly chaotic and dysfunctional households, where there is nowhere to study (and they can't go somewhere else because they are looking after younger siblings while their parents are working), nobody to wake them up for school in the morning, nobody to make sure they get nutritious meals. They may have learning disabilities (or brain damage caused by the drugs/alcohol their mothers used during the pregnancy) so that school is very tough for them, and their school may not do much to help. They may have to work long hours because the family needs the income.

And, sure, having a full-time job (ideally with good benefits) is the goal of many people, but for some it's a tough goal to achieve. There are many reasons why people don't get hired and not all of them are things the person can change.

My tips for not being poor would be: be born into a middle-class or wealthy family, with caring parents, who can give you a good start in life.

Teresa


Wait a second. If someone has a disability, then Federal Law allows for them to have an entire range of accomodations to help them through school; up to and including tutors and computers for free. It also allows them to stay in a public high school until age 21.

It is common that the breakfast and lunch that the kids get at school are the only meals they will have.

Also, I am a public high school teacher and most of my kids are the first ones in their families to graduate. Do you have any idea how difficult it is to get up and go somewhere in the morning when the rest of your family is still asleep...and may have no plans to get up AT ALL during the day? That is why I call some of my students EVERY MORNING to wake them up, because graduating is important to both of us, even if it doesn't matter to their parents. I have done this for six years, and I even call on days that *I* am sick and am not going in.

My point is that there is NO EXCUSE for someone not to graduate. I agree with the article and firmly believe that if someone chooses not to, chances are they are choosing to live in poverty.
 
I think finishing High School as a means of staying out of poverty is a bit naive. Yes, finishing High School is important, but receiving some form of post high school education (college, trade school, etc.) is becoming a necessity these days.

I also think that this list is ignoring the intelligence factor. Let's face it, the intelligence of the person in part determines how much education and what types of jobs the person will be able to have.
 
I am always fascinated by those wealthy DISers who hang out on the budget board:)

But if you didnt have to pay a dime for college-why did you end up with student loans?

http://www.disboards.com/showpost.php?p=43404086&postcount=13

LOL, cause I keep going back to school.

http://www.disboards.com/showpost.php?p=43108205&postcount=274

She makes high 6 to 7 figures a year.
Doesnt 7 figures mean $1 million dollars?
So a Millionaire is hanging on the Budget Board.:banana:

comes and goes. some years yes, some years no. depending on end of year bonuses.

Anyhoo,
I stay on the budget board because I grew up with parents who pretty much had the mantra "waste not, want not" and they instilled that.
I break out in hives if I pay full price for any thing.
I also am probably not very financially literate especially when it comes to things like retirement. I think I've posted many times that one of my biggest regrets was that I did not really start saving until I was well into my 30's. While I didn't run up huge debt, me dh and I definitely spent what we made.
So the budget board is great on information.
 
And she said she will never pay 30% in taxes but the new "Buffet Law" is suppose to make the minimum alternative tax 30%.

LOL, you guys can ask me questions directly you know..

Buffet law hasn't been passesd yet. At least not according to my tax attorney. I haven't had my taxes done yet, so I'll let you know if any thing has changed. Truthfully I'm a bit of a cynic. I doubt that it ever will be, simply put there are too many lobbyist making sure not much will change.
If it is enacted or if there are any other changes to the tax law I'll pay it. I'm not about to try and do some thing illegal but if there are credits and loopholes that I can legally take advantage of, I will do that also. So I guess you are right, I should "never" say, "never"

I thought also that the buffet law was based on Congress and whether or not they can get elected if there is a deficiet of more than 3%? not sure what else it entails.

I know he is a big proponent of changing the tax laws, which I am too. my concern is not really the amount that I pay, I more concern in what I see as collosial waste. I'd also like to see a more fair system where no matter how rich or poor everyone kicks in. If you enjoy the freedom of this country you kick in.
 
I wouldn't have thought that growing up in a wealthy background would have meant

" tiny NYC apartment with 6 other people and no air, no place to play, no grass. I was miserable. I mean I was blessed because I had a loving family but would I want my kids to grow up like that?"

http://www.disboards.com/showpost.php?p=38372249&postcount=54

I grew up with only 4 other people in a tiny NYC apartment. I must be really wealthy. :cool1:
 
LOL, cause I keep going back to school.



comes and goes. some years yes, some years no. depending on end of year bonuses.

.

Really?..
How was last year?
You were really complaining on College textbook cost here
http://www.disboards.com/showthread.php?t=2376902

I had 2 in college at the same time and paid $600+ each kid, each semester
It is what it is

To me if you're making 7 figures a $130 textbook wouldnt set you off:rolleyes1
 
Really?..
How was last year?
You were really complaining on College textbook cost here
http://www.disboards.com/showthread.php?t=2376902

I had 2 in college at the same time and paid $600+ each kid, each semester
It is what it is

To me if you're making 7 figures a $130 textbook wouldnt set you off:rolleyes1

why? :confused3 heck the cost of that stupid breakfast in the castle sets me off. The cost of the DDP sets me off. and yes when Bank of America tried to rip me off of 5 bucks a month I got an attitude and moved my accounts.

Because I make a good living I'm supposed to not complain about the cost of gas and food?
My youngest will start college in September and sorry I think the cost of tuition is ridiculous and way out of control. Regardless to what I make 40,000 bucks in my mind is absurd.

Sorry, I don't see the connection.

Here's some other things that set me off.
I try not to fly airlines that charge baggage fees.
I got rid of my fancy cell phone because I hate the data charges they automatically charge. Why should I pay for some thing that is no use to me.
I got rid of my premium cable package. Sorry once again I'm not paying $200 bucks and still have nothing to watch on tv on a Friday night.
 
I think those 3 rules are a good start. A high school diploma isn't the guarantee it once was. It's an absolute minimum these days. I think working hard and dedication are just as important as anything else. It bothers me when I see people making excuses. Excuses are easy. Hark work is not. I grew up in a rough household. My parents threw me out when I was 16 and I lived in a couple group homes and bounced around a bit and eventually got on welfare and got my own apartment. I was still a teen and it would've been real easy to just party and not do anything with my life. That's what many of my friends were doing. But I knew my only way out was to get my education. I still got married too young and had kids too young and struggled hard just to keep us all fed and keep the lights on. I also got divorced and struggled hard through the poverty that comes from that. I've been to food banks and I've been to Coats for Kids. All of this struggle has paid off for me in the end. I am one of the strongest most determined people I know. I work hard and I'm not afraid of anything (ok almost anything). I can stretch a dollar further than anyone I know. Now that things are easier for me and we're used to living on next to nothing we save a lot of money for the future and the last 2 years we've been taking at least 2 vacations/year. I think those tough times were a blessing in disguise. I don't spend my money on foolish things. If a kid asks me for a pair of $80 shoes I think that's a ridiculous amount of money to spend on shoes and I will offer to buy a cheaper pair or encourage them to save up their own money. I guess rule number 4 for me would be hard work and determination.
 
I'd also like to see a more fair system where no matter how rich or poor everyone kicks in. If you enjoy the freedom of this country you kick in.

I don't see any politician ever proposing very low income people paying any sort of income tax. It would be political suicide, sadly.

My wish is for the deductions to be pared down, considerably.

That way EVERYONE will benefit. Even someone like me, with no deductions whatsoever (well not enough to do the long form).
 
Wait a second. If someone has a disability, then Federal Law allows for them to have an entire range of accomodations to help them through school; up to and including tutors and computers for free. It also allows them to stay in a public high school until age 21.

It is common that the breakfast and lunch that the kids get at school are the only meals they will have.

Also, I am a public high school teacher and most of my kids are the first ones in their families to graduate. Do you have any idea how difficult it is to get up and go somewhere in the morning when the rest of your family is still asleep...and may have no plans to get up AT ALL during the day? That is why I call some of my students EVERY MORNING to wake them up, because graduating is important to both of us, even if it doesn't matter to their parents. I have done this for six years, and I even call on days that *I* am sick and am not going in.

My point is that there is NO EXCUSE for someone not to graduate. I agree with the article and firmly believe that if someone chooses not to, chances are they are choosing to live in poverty.

Good for you for playing that role in these children's lives:hug: Unfortunately I think most schools do not have teachers, or at least enough teachers, who would do this. You are changing the equation for many children and giving them some of the protective factors that are helping them to succeed. It is their luck that they have a teacher like you, but other children just aren't as lucky. And I'm sure that despite your best efforts there are some kids who choose to not accept your help, but we'd have to know much more about their relationships and history to know whether or not they are really just making bad choices or if they just have so much negative stuff/people in their lives that they cannot overcome it. Likewise, a child with developmental disabilities can really only take full advantage of the accommodations if there's a caregiver who's able and willing to seek them out and support the child with additional attention.

My 2 siblings and I are a perfect example of this... we were born into a middle class family and I had two great, loving parents, and then, when we were 9, 7, and 5, there was a horriffic event that killed my dad and three others... my mom was a sahm and we suddenly had no income in addition to the stress/trauma of his death, she later remarried a horrible man who made our lives very difficult, etc.

I could say that my sister and I made better choices and that's why we're living more comfortably than my brother is now; I could also point out the dozens of very poor choices that my brother has made that have led directly to his current impoverished status and all the good choices that my sister and I have made that have led to our current benefits in life. But to focus just on our choices ignores so many other factors, mediating factors that have made it more likely that we make the choices that we do. For ex, my sister and I were simply born with better cognitive capabilities than my brother. We were also not eye-witnesses to the tragedy (research shows that trauma and chronic stress impact brain functioning/development), so while we were definitely impacted by his death, certainly not to the extent my brother was. We were also younger and are girls and therefore he got the lion's share of the maltreatment from my step-dad. And there were so many other factors that for one reason or another, none of which were his fault, my brother just did not have some of the advantages/protective factors that my sister and I did and that's why he is more likely to make such poor choices.

Like I posted previously, not everyone who has been through trauma and maltreatment make such poor choices as my brother, but it is so much more difficult for them to make good choices, so any generalized statement such as "just finish school and you'll avoid poverty" just is not that simple. And I say all of this not to offer excuses for my brother or other people who continually make poor choices that negatively impact their lives, but just to explain why it's more likely and understandable that certain people have a very hard time making good choices, through no fault of their own. My brother is still responsible for his choices and he's the only one who can change the direction of his life, but I hope that I'm never narcissistic enough to think that I am where I am just because of my choices and hard work... I was given better tools to handle our hard life, plain and simple.
 
I saw a variation of this about 12-13 years ago. Only it was, finish high school, don't get married until you are 21 or older, don't have children outside of wedlock.

I would call it good advice but so many things are uncertain in our current times...

As far as living in poverty being the best motivation to get out of it, for some it is. For others, it's the only thing they know and they accept it as normal.

Anyone baffled why the wealthy are on the budget board, I highly suggest "The Millionaire Next Door," or "The Millionaire Mind." The author has spent his career studying the wealthy, how they got rich, and how they behave when they get there.
 

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