Three main reasons why being poor is expensive

[lionofjudah5]

I was interested in making a YouTube channel about Poverty Finance, so I did.

First of all, if you find this to be too self promoting, please take the post down.

That being said, I made a post on if you guys would like a YouTube channel that talks about Poverty Finance (Original Post). It got a decent amount of feedback, and I took that as motivation to get started. I planned and shot the first video to keep the momentum going (Why being poor is so expensive? - First Video). I'll let you guys decide if it's worth subscribing too and sharing, but I know that I wish there was a channel like this when I was growing up just show I could show my mother some potential ways we could have a better life. Let me know what you guys think, and if you want me to make a video about a specific topic, let me know in the comments below.

TLDR: Asked reddit if we needed a youtube channel about Poverty Finance, they said yes, so I made one.

 

[madidson857]

@lionofjudah5 /r/povertyfinance

 

[kimhimmel]

@lionofjudah5 Well done sir! I fully support the YouTube platform and find that even if not in poverty, your video (and future ones too) can be beneficial to our children in grade/middle/high school who are brand new to being responsible with money. This isn’t stuff you learn in school but to be on a platform that is popular and something that can be watched and learned, I think it could help many before they have to experience these issues first hand.

 

[lionofjudah5]

@kimhimmel I completely agree. Unfortunately, our school systems often have teachers that don't understand these principles themselves on how to be financially secure. Just read Total money makeover, rich dad poor dad, and millionaire next door and you have the foundation to be essentially financially stress free from your mid 20s and up once you are able to set yourself up

 

[ltsingalot]

@lionofjudah5 Great video! Wish someone would have given me this advice a long time ago.

 

[lionofjudah5]

@ltsingalot Same here... but hey now we have this channel!

 

[tattinglace]

@lionofjudah5 We live in a food desert and i didn't feel like driving to the grocery. Instead I just walk down the street to corner convenience store.

12 EGGS WERE $4.50!!!!

 

[lionofjudah5]

@tattinglace At the beginning of COVID, all the eggs were sold out near me except the free range/organic/etc ones. $8.50 for 12...

 

[tattinglace]

@lionofjudah5 These weren't organic. Not even name brand!

 

[resjudicata]

@tattinglace Trader Joe's is another great option. From the same family. Most items $3 average

 

[deborahl5255]

@lionofjudah5 I saved it for later but I have a really good feeling about your channel. it's about time somebody spoke in a language that broke people understand. Sometimes I feel like I'm talking till I'm blue in the face trying to get someone to the level where they can understand the importance of having an emergency fund.

Me to family member: "make sure you got at least a thousand in your savings account at all times"

Family member "okay"

2 months later. family member complaining I don't know how I'm going to pay my bills. I bought XYZ but my check was short.

Me did you already use your emergency fund in your savings?

FM: What?

One month later

FM: you help everybody else with their finances why don't you help me?

Me: no problem put a thousand in your savings account and don't touch it.

FM: I need a plan.

Me: put a thousand in your savings account and don't touch it.

I mean I get it. I was $80,000 in debt no car and no house. it took me a long time to realize that I had to save money to get out of debt.

 

[lionofjudah5]

@deborahl5255 This. I’ve had this conversation hundreds of time and one of the main reason I wanted to start the example. I have so many personal examples I can pull from and hopefully using real examples can help change some people’s mind

 

[deborahl5255]

@lionofjudah5 So I listened to your video. And I felt kind of guilty for posting this since you actually addressed this in the video. I know it's not an option for everybody especially if you have kids because your well-meaning family members will have CPS on your ass for not having power, but one thing that turned my journey around was choosing to go without power for 8 days. I was getting ready in the dark by candles. I was working a sales job and my boss called me in and said "would you buy anything from you?". I said of course I would. He said "I wouldn't. go buy an iron!". Of course I had to sneak over to my mom's and use her iron. It was so dark I couldn't see I was wrinkled. We got evicted shortly after that and basically had to downsize and couch surf till I got another job and a beater car a few months later.

The family members I'm thinking of don't have a real income problem. They have a spending problem compounded by all of the things you are talking about. Bad credit, buy here pay here lots, pawn shops, rent to own furniture, and by all means not saving a dime.

 

[lionofjudah5]

@deborahl5255 Definitely don't feel guilty. It seems like we both have had experience with people who make financial decisions based off of emotional decision due to perceived time crunches that 'backed' them into a corner. I've always said that if you cant afford the power and utilities where you live, then you need to downsize or go to a lesser quality as quickly as possible. This could me the same place but with roommates, or even go to the subsidized housing and keep to yourself. I know that sounds severe, but my mother avoided doing that because of 'safety' but in reality instead of saving money by moving there earlier, we had to stay in sub housing for years longer because she dug herself such a whole trying to avoid the inevitable.

 

[tdl21]

@lionofjudah5 I like it a lot! Sub'd and will be watching for your videos!

 

[lionofjudah5]

@tdl21 Thanks so much! It’s great hearing that you enjoyed it so much

 

[wildbeliever]

@lionofjudah5 Really good video, thanks sir

 

[lionofjudah5]

@wildbeliever No thank you! It means a lot

 

[saxonman111]

@lionofjudah5 Such a fantastic resource - I wish you a lot of success and motivation to keep making videos like this

 

[lionofjudah5]

@saxonman111 I’m making one tonight because of all the support!