How can I plan my life around $50 monthly income?

[Fidelia]

For those if us that live in lower tier countries, the income that people earn at the end of the month can be so low. I have a single friend that earns about $50 every month. How would he plan his life around such a monthly income? Can you survive on that for a whole month?

 

[eLdavis]

I think the best for that friend to do is to find and include other sources of income as well, or look for other things to invest in also.

 

[King Belieal]

In Nigeria, $50 is about 75kNGN and that is about the minimum wage. Single people can survive with that if they are not flamboyant.

 

[Springtime]

I live in a city with high cost of living. There is no way to survive with $50 a month. I understand different countries have different cost of living. If you find your regular income is insufficient, identify opportunities to earn more such as working freelance, posting on forums or taking surveys.

 

[magnus2022]

For those if us that live in lower tier countries, the income that people earn at the end of the month can be so low. I have a single friend that earns about $50 every month. How would he plan his life around such a monthly income? Can you survive on that for a whole month?

$50 is around 160,000 naira monthly. As a single person without family responsibilities can go a long way to sustain a single person. If you cook your food, you are likely to have enough to save.

 

[freelancermaria]

$50 is not enough for a person to survive, especially that everything is getting more expensive these days. It is advisable to get additional sources of income.

 

[Augusta]

it is to Set financial goals. Establish and follow a budget.Build an emergency fund and manage debt.

 

[Nomad]

It is not possible to live with $50 per month in my country, not even when you live in a rural area. However, if you grow your food and live in a country side it might be possible.

 

[Min George]

I don't know how someone can live on $50 every month. But that is the minimum wage in my country though.

 

[Augusta]

Have a spending plan already in place before you receive your salary. Use a budgeting app that works best for you and stick to your budget