Is being poor a matter of perspective??

Baldybear · 16 February 2015 at 4:27PM

Hello,

After peoples thoughts if ok, after a comment on my DFW diary was wondering if being poor is a matter of perspective?

For example I feel poor at the moment, although I have a good lifestyle and am able to afford most things I still struggle with it all, sometimes more emotionally than financially if that makes sense.

I believe all people have different situations and what someone would class as poor another person would have a different view, so maybe its a matter of perspective for each different individual.

I hope this makes sense

If you haven’t already, join the forum to reply!

[threadbanner]box[/threadbanner]

Million_Percent · 16 February 2015 at 4:59PM

It's clearly subjective and relative. The problem is that many people will generally live to a level that is just beyond their means. People tend to be overly optimistic about how far their money will stretch. So even the quite affluent will tend to overspend and then feel the pinch. It's easy to feel 'poor' when your outgoings seem to be higher than your income or for whatever reason you can't afford the same things as other people in your social circle.

I guess in some ways it's a case of is the glass half empty or half full? Even the 'poorest' people in the UK would be considered rich in global terms. Yet I can also imagine the millionaires in Monaco feeling poor because their yacht isn't as big as the others or they don't have a private jet.

People's expectations and perceptions change with increased affluence. If you earn £15K a year you probably think someone who earns £50k is very well off, but when you earn £50k you won't consider yourself rich because there are people who are earning £100k or £200K or £1M. Unless you are Carlos Slim, Bill Gates or Warren Buffet there will always be someone richer than you.

Bobarella · 16 February 2015 at 5:01PM

Hi BaldyBear

Materially being poor is when you cant satisfy your physical and immediate comfort needs such as being warm, knowing where your next meal is coming from, & knowing where you will sleep tonight. So I think if you dont have the answer to those questions you are poor.
How you choose to feel about it is a different matter. A book that made a huge impact on me & remains in my mind years later is Mans Search for Meaning by Viktor Frankl, written by a survivor of the concentration camps. In it he claims that the reason he survived and others died is purely mental. He found meaning in his every day life, despite immense opposition, & he walked out eventually, unlike many. I think it is the founding stone of many of the modern positive thought movements. So yes mental state has a huge part to play. I follow the minimalist movement myself, and one of their mantras is 'The best things in life arent things' I try my best to live without material stuff that clutters up my space & costs me money I can be using to buy peace of mind.
Hope that is helpful
Bob

BenjaG · 16 February 2015 at 5:06PM

Franciscan monks are supposed to live materially poor, but mentally enriched. Maybe you want to learn from them...

FireWyrm · 16 February 2015 at 5:10PM

A direct quote from the YNAB forums.

"You know you are a YNABer when your net worth is £12K but you cannot afford a McDonalds".

Being poor is most definitely a matter of perspective. My accounts say I have £6000+ in equity dotted around, but in reality, all of that is accounted for. On the other hand, I know absolutely there there is almost nothing that is going to bit me an in the !!! in the next year and that makes me feel rich. It means that I have food on the table, a roof over my head and clothes on my back. For 90% of the world's population, one or all of those is a daily challenge to fulfill. Whenever I feel low and lose my perspective, it helps to reflect on that fact for a few minutes and I wonder what the hell I am moaning about.

Baldybear · 16 February 2015 at 5:13PM

Thanks everyone for your comments and replies, it really does help

I am lucky that I am not poor in respect, I live an ok lifestyle and work hard to achieve it, I am emotionally rich in many ways, I dont do stuff, I am becoming less materialistic as the days go by.

I believe I use poor as at the moment am struggling a bit financially, I am still on a learning curve but its a tough struggle, but nice to see people do come out the other side

On_my_way · 16 February 2015 at 5:51PM

It is definitely a personal thing - I know of a few people that claim they are poor, plead poverty at every opportunity they get, live in council flats etc and yet they would never dream of wearing second hand clothes, their kids have absolutely everything etc.

If they are buying a lot of these things on credit they will never pay it off and they are giving their children the wrong message entirely.

We all want a good standard of living but you reap what you sew.

sourcrates · 16 February 2015 at 6:05PM

At my lowest point, back in 2005/6, i had absolutely no money in the world, for a period of about 8 days, had to live on what i had in the house, i certainly felt poor then !!!

Now i have no debt, i own my own house, my job now is not as well paid, or as many hours, as where i worked then, but on the plus side, once essential bills are paid, i have around £600-700 a month spare, how many people can actually say that ?

That makes me feel rich, even though, i`m not, by some peoples standard.

As you say, its all down to perspective.

fairy_lights · 16 February 2015 at 6:13PM

It's an interesting question.
I see myself as quite well off - technically I earn under the national average but my OH earns a bit more, and we are very organised with our money so can afford a holiday every year, go out for meals, and are in the process of buying our first house. Compared to when I was growing up and we didn't have central heating, never had holidays and everything we owned were hand me downs I feel positively wealthy.
But I've got friends from university who earn much more than me who would think that I am poor.

My boss is, in my eyes, incredibly wealthy - he owns a couple of houses and some land outright and a foreign holiday every couple of months, upgrades his car every year and has a fondness for fresh lobster!
But he considers himself middle class and doesn't think he is particularly wealthy - I think he genuinely doesn't realise how much better off he is than most people.

Bublin1 · 16 February 2015 at 6:22PM

I am a single mum to two children, work part time and get a stupidly small amount of CM.
I own a house, own a car outright and have 'pots' of money so i can pay all of my outgoings.
I'm also £5000 in debt am making small overpayments.
Because of my debts and the overpayments i feel very poor, however to my friends amd family I appear very financially sound.
I manage my money well but I dream of the day i can buy my kids whatever they want and take them on holiday.
I would say Im poor but lots of people think I'm 'rich'. Thise same people don't have half the responsibilites i have but can't afford their rent and have been made bankrupt!

Ellieseleven · 16 February 2015 at 8:02PM

I'm in a DMP but have quite a lot of equity in my home, so I guess I'm asset rich but cash poor.

Even though I have debts at the moment I don't feel poor as I know that there are many people far worse off than me and I feel grateful for the things that I have.

I don't tend to measure riches as material things. The health of myself and my family is worth everything and my grandson's smile is priceless;)

Ellie x

Is being poor a matter of perspective??

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free