How to survive when your broke, tips and tricks.

 


Recently in in this new recession corona virus times most or many people lost their jobs and had to make adjustments. One of the adjustments was they have to get used to a higher cost of living in the United States or many parts in Western Europe.

One of those costs is higher rents and higher food prices. 

This article is meant for people to have a strategy before a crisis happens or they are made homeless or something like that.

Have a plan B. 

In my case I always like to live in the cheaper parts of the world so, if I have to live on my saving for awhile I can live cheap, find work online or offline and still afford to pay my rent and buy groceries and live a decent life.

One example of this was when I lived in the United States in Iowa and my rent was 175.00USD in one of the Northern Iowa regions, now that rent would be closer to 250.00 USD. It was a big apartment and not really a hardship to live in and it was a really small town and a mellow place to live and I got a job as a welder in one of the near small towns.

It was a cool place to live although not much to do. I mad 13.00 bucks an hour, which although not much was enough to pay my rent save some money and plan some travels overseas.

In my case I have a list of places I can go to to live cheap either in the United States or south of the border in Mexico or Guatemala. I have rented small studios for anywhere from 150.00USD to 300USD although for 300USD you can rent a small house with a place to park your car, at least in Guatemala you can and even in some places in Mexico.

So I am always willing to move and rent a small studio, and if I am really broke am willing to just rent a room in a house from 50USd to say 100USD, I even rented a room in Lima, Peru for 90USD a month but that was 2 years ago.

I always have some emergency saving in gold and silver coins and nowadays I would include Bitcoin in that mix. The reason I do is at least in my case I normally wont sell a gold coin unless I am really hard up for cash so that always leaves me with at least some resources at my disposal, its the same with Bitcoin.

Gold is very marketable almost in any part of the world so, if for example I am in Mexico and I need cash I just go to the coin stores and sell some gold or I go to the jewelry stores hint, if you have a hard time getting a good price on your gold just go to a jewelry store and many times you will get the current gold price.

Its the same with Bitcoin, in fact its easy to sell Bitcoin and have the money deposited to your account or your lawyers account then you can just send it to your ATM account and withdraw anywhere in the world you find yourself.

So say you have 10K USD in your ATM account you can at least last a year before running out of money, you could live in Asia or Latin America on 800USD a month and have a year to work on building up your business or working at an online job.

Speaking of working online. You should always have at least 2 online accounts set up before you need them. Assuming your in the USA have at least one account at a large bank that has low fees to withdraw your money overseas like Charles Shaub bank. Then have another account set up to send money back and forth to Charles Shaub account to get the ATM fees reimbursed to your account.

I would have both accounts set up with PayPal so you can send and receive money from clients and pay all your bills online. I would have 2 or more accounts that can send and receive money from clients and all your banks in case one account gets flagged and then you can at least move the money to the other account and use the ATM card from the other account so you are not without money when your overseas.

I would at least have one or two credit cards just in case you get into a jam and need emergency money to get home or have to pay some unforeseen expense and not end up homeless on the street some where in the USA or overseas. Of course it goes without saying never keep a balance on those accounts until you have an actual emergency, just pay the balance off every month if you use them for points or convivence.

The most important thing to consider is to have a plan before the crisis occurs and then work your plan when the crisis occurs. Also have a willingness to be flexible and get out of your comfort zone and do things you have never dome before. Like for example, work online in sales and live overseas to get a lower cost of living and build up your savings.

Thats it for now, if you have any tips leave a comment, thanks.


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