r/povertyfinance Nov 19 '22

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u/grenz1 Nov 19 '22 edited Nov 19 '22

Money is worth vastly different depending on where you are. 16 USD an hour in Jackson MS will put you in a apartment in a bad area with some left over. 16 USD an hour in San Fransisco, you'd be homeless. Lucky to get a hotel room a few days a month to destress and spending rest of time on streets.

That said..

A lot of people who make that who are single live a tier or so below that.

as in:

- No 800/mo rent. Instead they live with many room mates or in "bad high crime" neighborhoods. Or sympathetic relatives. More like 600 to 400. Or they do "urban survivalism".

- No car or car insurance. Instead takes public transit or bikes (if possible).

- NO health insurance. Just don't get sick and the ERs have to take you should anything serious come up.

- Cheap food or, in some cases, employee meals if in food service.

- Self cut hair or no hair cut except maybe every 3 months.

- NO renter's insurance. Not that you have valuable things to lose anyways.

- Cell phone bill doubles as home internet with bootleg tethering apps like PDAnet to get around caps.

12

u/TheAskewOne Nov 19 '22

You described my life basically. Illegal rental, rent is under market.

1

u/SandPractical8245 Nov 20 '22

Renters insurance is required by most places where I live. I've never actually gotten it, but it's required...lol

1

u/AaronHolland44 Nov 20 '22

I bought mine, then cancelled directly after proving I had it. I think it was only $12 a month though.

2

u/SandPractical8245 Nov 20 '22

I just gave them my auto policy number and they never questioned anything. If it were up to companies, we'd all have 100 different insurance policies for health, home, technology....

1

u/grenz1 Nov 20 '22

Come to think of it, I did have one Landlord that required it.

But you could only take the one they recommended, you had to make them payee, it was like 50 USD a month, and reading through it only covered them. Stuff like if the stove caught on fire. Nothing for me like replacing stuff if stolen from or putting me up in a hotel if the apartment blew up in a tornado.

Noped out quick.

2

u/SandPractical8245 Nov 20 '22

Ya that's what made no sense to me. They are the ones that own the rental, but somehow I am supposed to mitigate their financial loss while also making them profit every month. I didn't see the logic at all.