Thriving on Minimum Wage

I didn't read in forum rules where there is a minimum income limit for reading.

**insert favorite despised group** arent reading this forum

This forum is heavily google indexed
site:somersoft.com has 429000 results, implication is that keyword searches for income improvement thriving minimium wage etc will result in Somersoft threads and posts being returned to persons other than forumites as soon as the site is respidered

Jaycee may be memorialized by some absolute stranger getting that AHA moment from a post, who knows

Bob,

jayceee did not say there were no minimum wage earners on this forum

What the hell does your last sentence mean ?
 
Bob,
Which way do you think more appropiate.

1) This boarding way on minimum wage
2) Going to the mines to earns some decent $$, living a good life, and saving more than the above?

After you save from the mines, invest in property, and repeat.
 
Bob,
Which way do you think more appropiate.

1) This boarding way on minimum wage
2) Going to the mines to earns some decent $$, living a good life, and saving more than the above?

After you save from the mines, invest in property, and repeat.

I previoulsy suggested perhaps horse for coarses, but as that' not what bob thinks I have reconsidered and believe it is stupid.
 
Bob,

jayceee did not say there were no minimum wage earners on this forum
chill peanut(meant as a term of endearment not as insult), did not write anything bad about you
What the hell does your last sentence mean ?
that you may be inspirational,

Kathryn will definitely be

why so defensive,
do you not wish some person referred by google to draw inspiration from something you have written
then don't write
 
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Bob,
Which way do you think more appropiate.

1) This boarding way on minimum wage
2) Going to the mines to earns some decent $$, living a good life, and saving more than the above?

After you save from the mines, invest in property, and repeat.
got 1 leg, minimum wage earner
more appropriate?

the thread is about minimum wage earners,
all these miners living the good life,
 
I agree with the principle, however unsure the numbers stack up in some of your examples (I live around the corner from your first example).

I used a variation of this when I bought my first house. At the time I was a single parent on about $35k a year with no deposit. My mum bought the house and rented it to me for a year - I paid the mortgage and all outgoings.

I rented out the main bedroom and ensuite to be able to afford the mortgage.

After a year the house had risen in value (+80k) and I could show a history of paying the mortgage. My mum sold it to me for the same price she paid.

First bank said no, however my regular credit union said yes based on the increase in equity (still no deposit or savings) and my payment history (I could demonstrate I could afford the mortgage). I continued to rent the main bedroom out for several years until I sold and upgraded.

No way I could have afforded the house without having a boarder.



Nor would you have afforded to buy a house without mum:)
 
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I've already reported I had 7 enquiries in less than 12 hours, before I deleted my ad.
I also had the 2 LL's I emailed, wanting me to call them to discuss further.


Nothing there suggests it cannot be done.

I've had 7 enquiries about something I'm selling on Gumtree. How many have actually called the number given or followed up.... ZERO.

Gumtree can work, and does have a particular audience, many of them being tyre-kickers and backpackers and young people who don't care about emailing someone but not following up. My emails tend to be "I want to buy this TODAY. Call me on XXXX XXXX XXX and I'll come around right now." How often do you reckon they actually follow up? I can tell you, but you won't believe me :D.

Your hit rate says nothing much to me on my own past experience selling "stuff" and also for renting houses. I've done both via Gumtree, but it is pretty patchy.

I wouldn't base too much on the fact you got some emails from some tyre-kickers. And those who look for accommodation on Gumtree are often (not always) those who find difficulty going through an agent for some reason. I am always careful when I use Gumtree going on my past results.
 
re: excusesexcuses are pathetic,
reasons are reasonable,

To find an excuse for "anything bad", irks, jerks my chain, etc
somebody who has a reason for the same "anything bad" deserves assistance

these 2 words rattle round in my head
for others, excuse and reason are synonymic

What about other ways to make it work though, would that jerk your chain, anybody who doesn't agree with you?

There are 1001 ways of getting ahead, and not all of them involve this level or commitment to a sub-tenant, cooking for them, leaving them some leftovers for lunch, heck, even just buying groceries for your sub-tenants, living on $25 a week with $10 for entertainment.

How long, seriously... can someone do that for without going stark raving mad and busting out and buying a Mars bar occasionally. Stuff the budget, this week I'm gonna LIVE!!!

I'm just saying that we too are retired without having done all that scrimping. We scrimped in a DIFFERENT way and our son is now looking at buying an IP, a year after he bought his first IP, without resorting to starvation rations. (And before you jump in, that is just my term for living on such a low amount - I realise you can do it, but I don't know anybody who would want to even try to live like that long term.)

I just would love to hear you say it can be done a different way. We have all agreed it can be done your way, but with less extreme figures. Do you believe there is another way?
 
I dont think it is safe for a "boarder" with young children around, yes most would be ok

Obviously, it depends on what sort of boarders you are taking in!!

I found it enriched our family, rather than causing any problems.
But I grew up in a large family, with a large extended family, and an even larger community of people that spent alot of time at our house, because my mum was such a hospitable person. So, having one or two (or 10!!) extra people hanging around didnt make so much difference.
I think it takes a certain type of person/ family to be able to have people living in your house. But it doesnt take long to work out what sort of person works for you, and then you need to stick to that "profile".

We also had live in aupairs for our kids when they were younger. That was fantastic, and again was a great experience for the kids. (but its off topic, so wont go there...... although it is a potential way to earn a minimum wage!! :D)
 
As usual we have the usual suspects castigating people for spelling mistakes when their entire posts are weirdly formatted and generally do not make any sense, either from a syntax or practicality context.

I can see it as being hypothetically workable. If a number of hypothetical situations fall in line.

There are also a number of issues with how workable it is. Pointing these out is being realistic. Not saying it is not going to work.
 
For sure I think a variation of something like this can be done, one way or another. Subletting a room or two (especially in large houses) for profit is common in cities like London with it's high transient population.

But as Mother Theresa once said "The best way to help the minimum wage is not to be one of them" *


(* she never said that)
 
Thank you for agreeing it is possible.

The examples were extreme, but sometimes single people doing this would need to be.
Working as a couple, sharing a bedroom would make it work even faster, or have more disposbale income.


Great hint Penny, on au pairs.

LOL

Everyone agreed it was possible for a low income earner to get further ahead than just being a low income earner with nothing . All anyone said about your plan but extreme and might not work 100% like you said - which you admitted to when you conceded the amount of savings you said could be achieved every week/month would have to be reduced to take into account expenses which you didn't include in your calculation, but agreed were very real.This would reduce savings by a fair bit and not allow the person to save the amounts needed to act your plan in the time frame you said they could.... So I don't think anyone disagreed that someone could not buy a house & rent out rooms, particularly as we have all heard of people doing that already.


Ideo,

What is the point of taking the ***** out of people's English / grammar etc ? we seemed to understand each other just fine.

Perhaps you could re write this post for me so I can see how someone how knows how to speak English should write it ?

I'm sorry I didn't learn english better so that I could satisfy your wishes when reading a throw away line I write on a public forum

Perhaps you can make a suggestion to the moderators to ban those of us who make more than XX mistakes etc in their posts

OR perhaps ban those who are not of an english speaking background and doing the best they can, surely that would help ...

You can put me on ignore if my supposedly so terrible english / grammar & spelling upsets you that dam much.

Have a nice day
 
Psst, Jaycee, that wasn't directed at you.

I can understand what you say fine. It's weird text alignments that are done intentionally that make me miss stuff that confuses me.

It's all cool.
 
Who here is a single person investor on minimum wage, not living at home, and just starting their investment journey?

And...

are you actively trying to increase your income? if so, why?

if not, why?
 
pebkac error

the reply was to Jaycee's post, quoting Jaycee, attempting to explain to Jaycee my unfortunate reaction to a particular word,
where Jaycee has taken prior offence to being included as inspirational

there is nothing to suggest there is no other way, that disagreeing with me....

unneccessary stuff quoted
What about other ways to make it work though, would that jerk your chain, anybody who doesn't agree with you?

There are 1001 ways of getting ahead, and not all of them involve this level or commitment to a sub-tenant, cooking for them, leaving them some leftovers for lunch, heck, even just buying groceries for your sub-tenants, living on $25 a week with $10 for entertainment.

How long, seriously... can someone do that for without going stark raving mad and busting out and buying a Mars bar occasionally. Stuff the budget, this week I'm gonna LIVE!!!

I'm just saying that we too are retired without having done all that scrimping. We scrimped in a DIFFERENT way and our son is now looking at buying an IP, a year after he bought his first IP, without resorting to starvation rations. (And before you jump in, that is just my term for living on such a low amount - I realise you can do it, but I don't know anybody who would want to even try to live like that long term.)

I just would love to hear you say it can be done a different way. We have all agreed it can be done your way, but with less extreme figures. Do you believe there is another way?
We did it another different way already

"without all that scrimping. We scrimped a different"
if some generic person wrote, "we didn't drive to Brisbane. We drove a different road to Brisbane", they would probably be classed an idiot

"this level of commitment"
no extra work, nothing that is not being done anyway, cooking for 1 is just as time consuming as for 6
but its fine to get a second job, that pays more than the first job to equal what you make would be 16+ working hours/day. Or go to the mines, for a one legged man, or single father,

Kathryn wrote ↓ suede ⇓ instead of swede,, must be the one that tastes like old leather,, ha ha
 
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That menu is not enough to feed a man/woman who works a physical job or has any sort of exercise. $6 of chicken gets you about a breast and a half..... thats little lunch for 1 day .

How does one buy the loo paper and other things to maintain a healthy household.....I know sometimes I shop and buy $70 worth of stuff I can't even eat.

If you guys are retired why be flipping burgers at some roadhouse in the middle of nowhere? Have you ever seen the BCF ad?.......
 
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