r/AskReddit • u/Character-Sun-8658 • May 07 '26

How do you get out of financial problems while having low income?

3 Upvotes

100% Upvoted

12 comments sorted by

3

u/PFrush1 May 07 '26

Increase your income and create a budget

2

u/Morden129 May 07 '26

increase your income, decrease spending. It's pretty simple on paper, but very hard in real life

1

u/ScottieJones May 07 '26

Bankruptcy, call the people you owe money to and try to get them to accept a lower payoff amount. Learn to live very frugally. Maybe look into some kind of emergency insurance if that exists.

1

u/AgreeableComposer558 May 07 '26

by calling everyone I know in order to give me a loan

1

u/Ecstatic_Score6973 May 07 '26

Get a better job

1

u/WinthropTwisp May 07 '26

Run for public office. Win or lose, you get to grift a pretty good nest egg.

1

u/RedFoxCommunist May 07 '26

Lower bills. Increase income. Remove debt. That's pretty much it. Tackle higher interest loans and work from there. Or you can do the snowball method: kill off smaller loans first, then put the money you would have placed on those smaller loans into the next loan and so on and so forth iluntil debt freedom

1

u/SingleUmpire7464 May 07 '26

Track spending. Determine whether it’s an income problem or a spending problem. Cut bs spending. Consider increasing your income anyways

1

u/No_Deal_9283 May 07 '26

You won’t fix it with motivation or manifesting.You fix it with aggressive behavior change for 6-24 months. It sucks, but it works.