Looking to free up space in your home but unsure about the best way to sell your old piano? Don't let a valuable item depreciate or sit around fo...
The fastest way out of poverty: 4 effective tips to change your life
To quickly escape poverty and effectively change your life, you need to start with small but sustainable habits. This article shares 4 life-changing secrets to help you manage your finances intelligently, seek new opportunities, and maintain a strong mindset. This is a practical guide to help you build a solid foundation for a stable and successful future.
In Vietnam, according to statistics from the General Statistics Office, millions of people still live in low-income or precarious conditions. Many families fall into a loop of lacking money – lacking opportunities – lacking trust. But the truth is, poverty is not just about a lack of money; it's also about a lack of direction and a lack of hope.
If you're looking for ways to escape poverty, you're not alone. Many people are also asking:
-
How can I increase my income without capital?
-
How can I get out of debt?
-
How can I change my life when everything seems stuck?
This article will help you understand the nature of poverty and suggest steps for sustainable poverty eradication, based on three core pillars: smart financial management, a positive mindset shift, and actively seeking support. These are not abstract theories, but practical guidelines that are easy to apply in daily life.
If you're looking for a clear, guided path out of poverty that is suitable for the Vietnamese context, start here.
Secret 1: How to improve life and escape poverty sustainably
Step 1: Escape poverty by improving education
Invest in education to increase sustainable income
Many economic studies show that average income tends to increase with educational attainment. In fact, in Vietnam, people with vocational skills, degrees, or professional certifications often have more stable job opportunities and higher salaries. If you are looking for a sustainable way to escape poverty, then improving your education and vocational skills is one of the most practical paths.
-
Skilled workers often have easier access to jobs with insurance and long-term contracts.
-
Increased income helps you save, invest, and break free from the cycle of debt.
-
Good skills make you less easily replaceable in a competitive job market.
Choose short-term, high-demand fields of study
Not everyone needs a four-year university degree. Many fields only require a 1-2 year program but still offer a decent income. This is a suitable direction for those who want to escape poverty quickly and sustainably.
-
Research professions with a labor shortage such as electrical engineering, mechanical engineering, applied information technology, healthcare, and logistics.
-
Prioritize training courses with a lot of practical application that lead to immediate employment after graduation.
-
Check average salaries before enrolling to ensure the chosen field can genuinely improve your income.
Utilize local colleges and vocational centers
Colleges and vocational schools often have lower tuition fees than universities but still provide practical skills. This is a suitable choice for those looking for a path to escape poverty with less financial risk.
-
Visit schools directly for advice on suitable fields of study based on your abilities and financial situation.
-
Ask about the employment rate of graduates.
-
Prioritize fields with business partnerships to increase employment opportunities.
Actively seek scholarships and financial aid
Many people miss out on educational opportunities because they think they don't have enough money. In reality, there are many support policies for low-income individuals and disadvantaged families.
-
Contact the student affairs or financial aid office to inquire about tuition waivers, scholarships, and preferential loans.
-
Research support programs from the government, local authorities, or businesses.
-
Consider studying and working simultaneously to reduce financial pressure without borrowing too much.
View education as an investment, not an expense
If you are looking for an effective way to escape poverty, view learning as a long-term strategy. A course in the right field, meeting market demand, can change your income level in the next 5–10 years.
Step 2: Housing solutions with low income
Review current housing options
Rent often accounts for 30–50% of the income of ordinary workers. If this amount is too high, the plan for escaping poverty will be very difficult to implement because you will have no money left to save or invest in yourself.
-
Compare your rent with your total monthly income.
-
If housing costs exceed 40% of income, consider alternative options.
-
Prioritize safe areas close to work to further reduce commuting costs.
Share housing to reduce financial pressure
Sharing housing is one of the most practical ways to reduce fixed costs when income is limited. Many people have significantly improved their finances simply by sharing rent and utility bills.
-
Find roommates through acquaintances or reputable platforms.
-
Clearly agree on rent, deposit, and living hours.
-
Create a written agreement or confirmation message to avoid conflicts later.
This is a very suitable short-to-medium-term solution if you are looking for ways to save money to escape poverty.
Rent out a room if you own a home
If you own a home, renting out a spare room can create a stable additional income stream each month. This is a way to increase passive income without significant capital.
-
Thoroughly vet tenants, especially if you have young children in the family.
-
Check identification documents and rental history.
-
Clearly agree on responsibilities for using shared property.
A regular extra income can help you pay off debt faster or accumulate capital – an important step on the journey to sustainable poverty eradication.
Consider moving to an area with a lower cost of living
In some large cities, high rents and living expenses make it difficult for workers to save, even with full-time employment. If, after calculations, you still can't balance your finances, moving to an area with a lower cost of living might be a strategic option.
-
Compare the cost of rent, food, and utilities between different areas.
-
Research the average salary in the area you plan to move to.
-
Only move when you have a job or a clear income plan in place.
Moving is not an easy solution, but in many cases, changing your living environment helps reduce the burden of costs and opens up new opportunities – a practical step in the journey to find an effective way to escape poverty.
Prioritize stability before expanding your goals
Housing is the foundation of personal finance. When costs are well controlled, you will have room to save, learn a trade, or invest in self-development.
Step 3: Find a better job to increase income
Stop relying on multiple jobs at once
Working 2-3 jobs can help you get by in the short term, but in the long run, it can lead to burnout and no significant income breakthrough. If you are looking for a sustainable way to escape poverty, you need a stable job with better income rather than just working more hours.
-
Evaluate your total income from current jobs.
-
Compare it to the salary of a full-time job requiring higher skills.
-
Prioritize jobs with opportunities for salary increases and advancement.
Make job searching a daily habit
Job searching should not be an impulsive action when you are too tired or under financial pressure. View it as part of an effective poverty escape plan.
-
Dedicate 1-2 fixed hours each day to searching for and applying to jobs.
-
If you don't have internet at home, use a public library or free access point.
-
Keep a list of applied jobs for tracking.
By being consistent, you increase your chances of accessing better opportunities instead of waiting for luck.
Be selective with jobs rather than applying indiscriminately
Many people, due to financial pressure, apply for every available position. This can easily lead you to unsuitable jobs with low pay and limited development opportunities.
-
Prioritize positions with a salary at least 15–20% higher than your current one.
-
Consider skill requirements that can be learned in the short term.
-
Look for jobs in growing industries to ensure stability.
Choosing the right job brings you closer to the goal of increasing income to escape poverty, rather than just changing workplaces.
Build a professional LinkedIn profile
Today, many recruiters find candidates through LinkedIn before posting job advertisements widely. A clear, professional profile increases your chances of being contacted directly.
-
Create a LinkedIn account and update all personal information.
-
Use a clear headshot with professional attire.
-
Write a concise headline that conveys the value you bring, e.g., "Industrial Electrician – 3 years of experience."
-
Add work experience, skills, and even volunteer activities if applicable.
View this profile as an extension of your CV. The more complete and clear it is, the greater your chances of accessing higher-paying opportunities.
Focus on the value you create
Businesses don't pay you just because you need money; they pay you because you solve problems for them. By improving your skills and clearly positioning yourself, you can negotiate a better salary.
Step 4: How to negotiate an effective salary increase
Prepare clear reasons before proposing a salary increase
To increase your income and implement a sustainable way to escape poverty, you can't just rely on the feeling that "you deserve it." Managers need to see the specific value you bring.
-
List your achievements: increased sales, reduced costs, projects completed on time.
-
Document tasks that arose outside of your original job description.
-
Prepare specific data instead of speaking in general terms.
The clearer the evidence, the higher the chance of approval.
Research market salaries before negotiating
Effective negotiation relies on data. Knowing the average salary in the industry helps you make a reasonable proposal, avoiding requests that are too low or too high.
-
Look up salaries for your position on recruitment platforms.
-
Refer to annual salary reports from HR companies.
-
Compare based on experience, skills, and work location.
When you have market basis, the discussion will be more professional and increase your chances of reasonable income growth.
Maintain a cooperative attitude instead of making demands
A common mistake is asking for a raise based on emotion. This can easily make the discussion tense and counterproductive.
-
Schedule a formal meeting instead of rushing the discussion.
-
Express your desire for long-term growth with the company.
-
Listen to feedback from management and be willing to adjust.
Salary negotiation is a process where both parties find a solution, not a confrontation.
Be willing to take on more responsibility for a higher salary
In many cases, a raise comes with an expanded role. If your goal is to increase income to escape poverty, view this as an opportunity to upgrade your skills.
-
Propose taking on new projects or a small team leadership role.
-
Commit to specific goals within the next 3–6 months.
-
Request a salary review after achieving those goals.
This shows that you don't just want more money, but want to create greater value.
Build a long-term income strategy
A salary increase is not the only solution, but it is an important step in the journey of financial improvement. By combining skill development, finding better jobs, and smart negotiation, you will gradually expand your income sources instead of relying on luck.
Secret 2: Smart Money Management to Overcome Financial Hardship
Step 1: Prioritize Debt Repayment to Escape Poverty
View debt repayment as your number one financial goal
If you're looking for a sustainable way to escape poverty, the first thing to do is get out of debt. When your income is minimal or below average, every interest payment sets you back.
-
Inventory all loans: remaining balance, interest rate, term.
-
Identify the highest-interest loans to address first.
-
Temporarily stop unnecessary spending until debt is under control.
As long as you have high-interest debt, you are almost working to pay the bank instead of building your future.
Prioritize high-interest debt first
Not all debts are created equal. High-interest debt will "erode" your income the fastest and hinder your plan to increase income to escape poverty.
-
Focus heavily on paying off the highest-interest debt (the "high-interest first" method).
-
Maintain minimum payments on other debts to avoid penalties.
-
Once one debt is paid off, roll all that money into the next one.
This approach helps you reduce the total interest paid in the long run.
Beware of credit card debt
Credit cards often have very high interest rates if not paid on time. In some cases, interest can be as high as 20–25% per year, causing debt to grow rapidly even if you only spend a small amount.
-
Pay more than the minimum each month.
-
Limit card usage until old balances are paid off.
-
Look into converting to a 0% interest rate card during a promotional period (if eligible).
Reducing interest pressure is an important step in the path to effective poverty escape.
Create a clear monthly repayment plan
Successful debt repayment is not based on inspiration, but on financial discipline.
-
Allocate a fixed amount specifically for debt repayment each month.
-
Cut short-term spending to accelerate repayment.
-
Track progress to maintain motivation.
Once the burden of debt is gone, you truly have the "room" to save, invest, and build a stable financial foundation.
Step 2: Choose a low-fee bank to save money
Avoid accounts with high minimum balance requirements
If your income is still low, account maintenance fees can subtly "eat away" at the money you're trying to save. Some banks charge fees when the balance falls below a certain level, making the poverty escape plan more difficult.
-
Carefully check the conditions for waiving account maintenance fees.
-
Check if there is a minimum balance requirement.
-
Calculate total fees: management fees, SMS fees, transfer fees.
Even a small fee each month can significantly reduce your ability to accumulate wealth if your income is limited.
Find a bank or financial service that doesn't charge maintenance fees
Currently, many digital banks and e-wallets offer nearly free accounts, suitable for people who want to save money to escape poverty.
-
Prioritize banks that offer free account opening and maintenance.
-
Choose services that allow free internal transfers.
-
Read the terms carefully to avoid hidden fees.
Reducing fixed fees helps you keep more money each month – a small step but with long-term impact.
Understand the pros and cons of each solution
Some alternative financial services have the advantage of low costs, but may not support building credit history or may limit certain lending features.
-
If the short-term goal is saving and expense management, a free account is a suitable choice.
-
If the long-term goal is to borrow for a house or business, you need to consider solutions that support building credit scores.
-
You can combine: one main account for accumulation and another account for long-term financial planning.
Keeping money is more important than the account type
In the early stages of your journey to sustainable poverty escape, the biggest priority is to preserve and accumulate cash flow. Avoiding unnecessary fees helps you build a stronger financial foundation.
Step 3: Budget to manage money effectively
Understand why budgeting is the foundation for escaping poverty
Without a clear spending plan, money will "disappear" before you realize it. Many people think they don't earn enough, but in reality, they lack control over their cash flow. To implement a sustainable way to escape poverty, you need to know exactly how much money comes in and how much goes out.
-
Record total monthly income (salary, extra work, side income).
-
List all fixed bills: rent, utilities, internet, debt payments.
-
Track incidental expenses for at least 30 days.
Once you see a clear financial picture, you'll know where adjustments are needed.
Clearly distinguish between "needs" and "wants"
An important step in personal financial management is distinguishing between what is essential and what is merely for enjoyment.
-
Essential needs: food, shelter, basic clothing, medicine.
-
Wants: entertainment, upgrading electronic devices, impulse shopping.
-
Consider cutting or postponing non-essential expenses.
This helps you optimize spending and accelerate your goal of saving money to escape poverty.
Set specific and measurable financial goals
A budget is only truly effective when tied to clear goals.
-
Set a goal for how long it will take to pay off debt.
-
Determine the minimum amount to save each month.
-
Track progress weekly or monthly.
Specific goals help you maintain discipline and avoid being swayed by emotional spending.
Build an emergency fund after paying off debt
Once debt is under control, the next step in your journey to effective poverty escape is to create a financial safety net.
-
Save enough for 3–6 months of living expenses.
-
Deposit it into a separate account to avoid accidental spending.
-
Only use it in emergencies such as job loss or illness.
An emergency fund helps you avoid falling back into debt when unexpected events occur.
Make budgeting a long-term habit
Budgeting is not a one-time task to be abandoned. It's a financial skill that needs to be maintained lifelong if you want to achieve financial independence.
Step 4: Avoid high-interest loans, build an emergency fund
Don't rely on quick loans when short on cash
Quick loans or payday loans can solve immediate difficulties, but interest rates and penalties are often very high. If you're looking for a sustainable way to escape poverty, you need to avoid loans that will drag you deeper into financial pressure.
-
High interest rates cause the amount to be repaid to increase rapidly in just a few weeks.
-
Extension or late fees can pile up on top of other fees.
-
It's easy to fall into a cycle of borrowing – repaying – borrowing again.
The wrong short-term solution can ruin a long-term financial plan.
Start building an emergency fund, even with a small amount
Creating an emergency fund is the most practical way to avoid having to resort to quick loans. The initial goal doesn't have to be too large, the important thing is to start.
-
Set an immediate goal of about $500 or equivalent.
-
If it feels too overwhelming, start with 100,000–200,000 VND each payday.
-
Automatically transfer money to a separate account as soon as you get paid.
When you have a reserve fund, you will feel more confident and reduce the risk of falling back into debt.
Stick to your budget to avoid unexpected shortages
Most situations where you have to borrow quickly stem from overspending. Adhering to a budget is an effective preventative measure in the journey to effective poverty escape.
-
Track expenses weekly instead of waiting until the end of the month.
-
Adjust early if you see signs of exceeding the budget.
-
Limit emotional spending.
Financial discipline helps you minimize artificial emergencies.
Negotiate instead of borrowing more when short on cash
If you've tried your best but still face a temporary shortfall, don't rush to high-interest lenders.
-
Contact your service provider to ask about payment extension options.
-
Clarify any additional fees before agreeing.
-
Avoid continuous late payments as they can affect your credit score.
Transparent negotiation is often much less expensive than high-interest loans.
Prioritize prevention over consequence management
In the journey of escaping poverty, risk prevention is as crucial as increasing income. An emergency fund, clear budget, and controlled spending habits will help you stand firm against unexpected events.
Step 5: Avoid high-interest installment purchases
Understand the risks of the rent-to-own model
Rent-to-own stores often advertise "no large down payment needed," "take it home today." This is very appealing when you're short on cash. But if you're looking for a sustainable way to escape poverty, you need to look at the actual total cost.
-
The total amount to be paid is often much higher than the product's value.
-
Hidden interest and fees can make you pay double, even triple the original price.
-
If you miss payments, you could lose both the product and the money you've paid.
This model plays on the desire for immediate ownership but undermines long-term financial stability.
Compare total costs before deciding
Don't just look at the weekly or monthly payment. Calculate the total amount to be paid by the end of the contract.
-
For example: A $400 TV could cost you over $1,000 if rented-to-own long-term.
-
That difference could be used to save or invest.
-
Ask for the final total cost before signing any agreement.
When you add up all the interest and fees, you'll see this isn't a smart solution if your goal is to save money to escape poverty.
Delay purchases to protect your finances
If you don't have enough money yet, the safest option is to wait until you can pay in full with cash or existing savings.
-
Create a separate savings plan for the item you want to buy.
-
Find cheaper alternatives that still meet your basic needs.
-
Ask yourself: Is this a necessity or just a desire?
Delaying is not giving up, but controlling your financial decisions.
Prioritize long-term value over short-term gratification
In the journey of effectively escaping poverty, every spending decision has a ripple effect. An ill-timed purchase can slow down your debt repayment plan or emergency fund building.
Step 6: Buy used items to save smartly
Change your mindset: not everything needs to be new
One of the important principles in sustainable poverty escape is optimizing spending. Many people assume that new items are "worth the money," but in reality, many used products still work well at a fraction of the price.
-
20–70% lower price than new items.
-
Quality is still guaranteed if thoroughly checked.
-
Reduces financial pressure, increases saving potential.
Buying used isn't about deprivation, it's about smart financial strategy.
Prioritize items that are easy to buy used at a good price
There are certain product categories that are very suitable for buying used, helping you save significantly without affecting essential needs.
-
Clothing, especially infrequently used items or unsold stock.
-
Books, study materials, professional tools.
-
Exercise equipment, small household appliances.
-
Basic furniture in good condition.
The money saved can be put into an emergency fund or used to pay off debt – a crucial step in the journey of effectively escaping poverty.
Consider buying used vehicles and large appliances
New motorcycles, cars, or electronic appliances often depreciate quickly in the first few years. Buying good used products helps you avoid the largest portion of depreciation.
-
Thoroughly check the technical condition before buying.
-
Compare market prices to avoid overpaying.
-
Prioritize buying from reputable sources or those with a short warranty.
A smart purchasing decision can save you tens of millions of dong.
Control excessive "self-rewarding" habits
When you have a little extra money, the desire to reward yourself is understandable. However, if repeated frequently, you can inadvertently create uncontrolled spending habits.
-
Set a budget limit for personal spending.
-
Only buy when truly needed or planned in advance.
-
Ask yourself: Will this money help me get closer to my financial goals?
Escaping poverty doesn't require you to live frugally, but it does require you to spend with purpose. When you learn to shop smartly and prioritize utility over appearance, you are building a stronger financial foundation every day.
Step 7: How to get health insurance when on a low income
Prioritize health protection to avoid financial crisis
Healthcare costs are one of the reasons many families fall back into hardship despite efforts to improve their income. If you are looking for a sustainable way to escape poverty, you cannot overlook health insurance.
-
Low-income individuals often delay medical treatment out of fear of high costs.
-
A sudden hospitalization can "wipe out" all savings.
-
Having insurance helps reduce financial risk in case of an emergency.
Protecting your health is protecting your long-term financial plan.
Check eligibility for assistance or insurance subsidies
Many assistance programs are based on household income and the number of family members. If you qualify, you could significantly reduce your insurance premium costs.
-
Research state or local government assistance policies.
-
Prepare income verification documents to apply.
-
Compare insurance plans to choose one that fits your budget.
If you are in the U.S., you can check subsidy eligibility via Healthcare.gov to see if you qualify for assistance.
Thoroughly check hospital bills before paying
It's not uncommon for medical bills to contain errors or double-charge for services. This is especially important if you are trying to save money to escape poverty.
-
Request a detailed breakdown from the hospital.
-
Cross-reference with the services actually received.
-
Ask for clarification on any unclear charges.
Finding small errors can save you a significant amount of money.
Negotiate and request payment deferral if needed
If you cannot pay immediately, don't silently ignore the bill.
-
Discuss payment installment options directly with the hospital.
-
Ask about financial assistance programs for low-income patients.
-
Avoid letting medical debt linger as it can affect your credit history.
Proactive communication often leads to a more manageable solution than being overwhelmed by pressure.
Seek community support when truly in need
If costs exceed your ability to pay, you can turn to support funds or crowdfunding platforms.
-
Clearly present your circumstances and treatment costs.
-
Share on social media or local communities.
-
Check the platform's credibility before posting information.
Escaping poverty isn't just about increasing income; it's also about risk management. When you have appropriate insurance and know how to handle medical bills smartly, you've mitigated one of the biggest financial threats.
Step 8: Save loose change every day
Don't underestimate small amounts of money
Many people overlook loose change, thinking "it's not much." But in the journey of sustainable poverty escape, it's these consistent small amounts that make a long-term difference.
-
5,000–10,000 VND per day can become several hundred thousand after a month.
-
Accumulated loose change helps you form a saving habit.
-
More importantly, you are training yourself to keep money instead of spending it immediately.
Saving doesn't start with large sums, but with discipline.
Create a "loose change jar" as a simple automated system
This method is very easy to implement and doesn't require complex tools.
-
At the end of each day, put all remaining coins or loose change into a separate jar.
-
Do not withdraw midway unless absolutely necessary.
-
When the jar is full, deposit the money into a savings account.
Small actions repeated daily help you build the foundation for your goal of saving money to escape poverty.
Turn loose change into a small emergency fund
Once you have accumulated savings from loose change, use it strategically.
-
Add it to your emergency fund.
-
Use it to pay down a small portion of debt.
-
Or create a separate fund for a specific goal.
This amount may not make you rich quickly, but it helps you avoid borrowing when you unexpectedly need a few hundred thousand dong.
The habit is more important than the amount
Escaping poverty is not one big leap, but hundreds of small, right decisions. When you develop the habit of saving from loose change, you are building a sustainable financial mindset.
Step 9: Learn to barter instead of paying
Understand what bartering is and why it helps save money
Bartering (exchanging goods or services) is a cashless transaction. When looking for ways to escape poverty sustainably, this is a smart solution to reduce spending while still meeting essential needs.
-
No need to spend cash when your budget is tight.
-
Utilize existing skills to get what you need.
-
Reduce financial pressure during difficult times.
This is not a new method, but a model that has existed for a long time and remains effective if applied correctly.
Clearly define what you need and what you can offer
Effective bartering starts with evaluating your own resources.
-
List what you need: electrical repairs, house cleaning, childcare, tutoring.
-
Identify the skills you can provide: minor repairs, cooking, design, teaching, plant care.
-
Estimate the relative value in terms of time or effort to ensure fairness.
For example: You can exchange 1 hour of English tutoring for 1 hour of plumbing repair.
Negotiate clear terms from the outset
To avoid misunderstandings, both parties need to agree specifically before starting.
-
Clearly define the time and scope of work.
-
Agree on completion standards.
-
If necessary, record the agreement via message.
Transparent bartering helps you save money without unnecessary conflict.
Don't accept things you don't really need
Bartering is only beneficial when you exchange for something truly useful. If the item or service is not essential, the exchange will waste your time and effort.
-
Ask yourself: Do I really use this?
-
Don't be afraid to decline if the terms are not suitable.
-
Always maintain autonomy in your decisions.
In the journey of effectively escaping poverty, every resource is important, including your time and skills.
View personal skills as an asset
Many people think they "have nothing to exchange," but in reality, everyone has their own value. When you start to view skills as an exchangeable asset, you open up an additional channel for saving and financial support.
Step 10: Maximize savings even with low income
Prioritize saving any surplus funds
When income is minimal, most of the money goes towards bills and debt payments. However, if there's even a small amount left, dedicate it to savings. This is a core principle in sustainable poverty escape.
-
Automatically transfer a small portion to a savings account as soon as you get paid.
-
View savings as a "mandatory bill" you pay to yourself.
-
Don't wait to save "when there's a lot extra," because that rarely happens.
Saving a little consistently is better than not saving at all.
Systematically reduce utility costs
Small daily expenses can add up to a significant amount each month.
-
Turn off lights and electrical appliances when not in use.
-
Check and seal gaps around windows and doors to prevent heat loss.
-
Use extra blankets or warm clothing instead of increasing thermostat temperature.
Each small adjustment helps you accelerate your goal of saving money to escape poverty.
Keep unexpected funds
Tax refunds, bonuses, gifts... often make you want to spend immediately. But if the goal is financial stability, prioritize keeping these funds.
-
Deposit directly into your emergency fund or use to pay down debt.
-
Do not include this amount in your monthly spending budget.
-
See this as an opportunity to shorten your journey out of hardship.
Unexpected funds can be a turning point if used correctly.
Control impulse spending
Many purchasing decisions stem from emotion rather than actual need.
-
Ask yourself: Do I really need this item?
-
If I don't buy it today, will my life be affected?
-
Don't let the word "sale" deceive you.
Limiting impulse purchases is an important step in effectively escaping poverty.
Apply the 24-hour rule
Before buying a non-essential item, give yourself time to think.
-
Wait at least 24 hours before deciding.
-
If you still feel you really need it the next day, reconsider.
-
Try to see how long you can live without that item.
Most desires to shop will subside overnight. This habit of waiting helps you save money for bigger goals.
Tip 3: Get proper support to stabilize your life
Step 1: Find childcare cost assistance
Actively seek local support programs
Childcare costs can consume a large portion of a low-income family's earnings. If you are looking for sustainable ways to escape poverty, you need to alleviate this pressure as soon as possible.
-
Contact community centers, cultural houses, or local social organizations.
-
Ask about drop-in childcare programs at low or no cost.
-
Look for summer activity classes and skill clubs for children.
Many programs are funded to support disadvantaged families, but not everyone knows to apply.
Take advantage of free activities for children
In addition to childcare services, many localities organize free activities that help children learn and play.
-
Public libraries often have free story times or skill classes.
-
Religious organizations and associations may have community support programs.
-
Some social funds offer low-cost talent classes.
This not only reduces costs but also helps your child have a positive environment for development.
Connect with parent groups in similar situations
When finances are tight, sharing and exchanging information is crucial.
-
Join parent groups in your residential area or on social media.
-
Learn about support resources, scholarships, and assistance programs.
-
Consider rotating childcare among families to reduce costs.
Community support helps you save money and reduce stress on your journey to effectively escape poverty.
Ask for help from relatives when needed
If you can't find suitable services, don't hesitate to talk to family or close friends.
-
Clearly agree on time and responsibilities.
-
Set a fixed schedule to create stability for both parties.
-
Always show gratitude and offer support in return when possible.
Escaping poverty is not a solo journey. Knowing when to seek and accept help at the right time helps you save money, maintain stable employment, and build a stronger financial foundation for your family.
Step 2: Seek support from a Financial Opportunity Center
When to seek a financial support center
If you have tried budgeting, saving, and paying off debt but are still struggling, it's time for specialized support. In the journey of sustainable poverty escape, changing financial behavior is not always easy to do alone.
-
You consistently overspend your budget.
-
Debt is decreasing very slowly despite your efforts.
-
You don't know where to start to increase your income.
Seeking out a specialized organization can help you shorten the trial-and-error period.
What Financial Opportunity Centers offer
Financial Opportunity Centers (FOCs) are models for centers that help low-income individuals improve their finances and careers. Their goal is to help participants increase income, reduce debt, and move towards financial independence.
Programs typically focus on:
-
Career counseling: Guiding towards better-paying jobs.
-
Personal financial coaching:Budgeting, debt management, credit score improvement.
-
Job placement: Assisting in finding suitable employment opportunities.
The combination of increasing income and reducing expenses helps create sustainable change instead of temporary solutions.
Benefits of having a financial companion
Many people fail not due to lack of knowledge, but due to lack of discipline and oversight. When you have an expert following up:
-
You have a specific monthly plan.
-
Someone monitors your progress and provides reminders.
-
You can adjust your strategy when facing difficulties.
This is crucial if your goal is to effectively escape poverty and not just achieve short-term improvement.
Actively seek local support resources
If there are no FOCs in your area, look for:
-
Government employment referral centers.
-
Non-profit organizations assisting low-income individuals.
-
Free or subsidized vocational training programs.
Escaping poverty is not just about money; it's about changing mindsets and action systems. When you have a clear strategy and proper guidance, your chances of achieving financial stability will be much higher.
Step 3: Connect with a positive community
Don't let financial difficulties isolate you from society
Under financial pressure, many people tend to withdraw due to feelings of shame or exhaustion. But isolation only makes the journey of sustainable poverty escape more difficult.
-
Lack of motivation and new perspectives.
-
Easily give up when encountering obstacles.
-
No access to job opportunities or support information.
Social connection not only improves your mood but also opens up real opportunities.
Proactively build a positive environment around you
People are strongly influenced by those they interact with regularly. If you want to change your finances, choose an environment that encourages growth.
-
Join skill-building groups, vocational training classes.
-
Connect with people who have goals to improve their income.
-
Limit exposure to negative, pessimistic environments.
A positive community helps you maintain discipline and motivation on your journey to effectively escape poverty.
Participate in support groups and social activities
Many community groups organize regular meetings to share experiences and support each other.
-
Personal finance support groups.
-
Vocational skills or small business startup clubs.
-
Volunteer activities, local community events.
These spaces not only help you learn but also create a sense of companionship.
Seek continuous learning opportunities
Study groups, skill workshops, or experience-sharing circles are places where you can broaden your mindset.
-
Learn how to manage money from those who have overcome difficulties.
-
Listen to real stories to learn from experience.
-
Exchange job opportunities or collaborations.
Escaping poverty is not a solitary journey. When you are in an environment that encourages progress, each step will be more steady and focused.
Step 4: Credit counseling to get out of debt
When to seek credit counseling
If you have tried to pay off debt yourself but are still stuck, seeking professional help is a practical step on the journey of sustainable poverty escape.
-
Many debts with high interest rates.
-
Frequently making late payments or only paying the minimum.
-
No clear plan to deal with all debts.
Credit counseling helps you see the complete financial picture and build a specific roadmap instead of dealing with individual debts separately.
Understand how they can help you
A reputable counseling organization typically provides:
-
Assessment of your entire personal financial situation.
-
Development of a debt management plan.
-
Guidance on budgeting and improving credit scores.
-
Financial management classes to avoid recurring debt.
The goal is not only to handle current debt but also to help you build a foundation for long-term effective poverty escape.
Beware of fraudulent organizations
When facing financial difficulties, you can easily become a target for less transparent services.
-
Avoid entities that demand high fees before providing service.
-
Read the contract and payment terms carefully.
-
Do not sign if you do not fully understand the commitments and costs.
Remember: reputable organizations are always transparent about fees and benefits.
Verify legitimacy before collaborating
Don't just believe advertisements. Proactively check information.
-
Look up their operating license.
-
Check feedback from previous users.
-
Contact your local consumer protection agency if verification is needed.
Thorough due diligence helps you avoid losing more money while trying to save money to escape poverty.
Interview before deciding
Consider this an interview process for your financial partner.
-
Ask clearly what specific services they provide.
-
Are fees charged per consultation or monthly?
-
Do staff have certifications or practical experience?
When you choose the right support provider, the debt repayment process will be more focused and disciplined.
Secret 4: Maintain a strong mindset to overcome poverty
Step 1: Apply the “shift and persist” method
Understand the impact of stress when living in hardship
Many psychological studies show that low-income individuals often experience higher levels of stress but have fewer resources to alleviate it. Prolonged financial pressure can affect health, financial decisions, and motivation. Therefore, in the journey of sustainable poverty escape, stress management is as important as money management.
-
Prolonged stress easily leads to impulsive decisions.
-
Mental fatigue reduces the ability to persevere with goals.
-
Negative mindset can make you miss opportunities.
Addressing emotional roots helps you maintain a long-term financial strategy.
“Shift” – adjust your perspective instead of resisting circumstances
"Shift" means changing the way you perceive problems. Instead of focusing only on what you cannot control, you learn to accept the current reality and find what you can influence.
-
Acknowledge difficulties without blaming yourself.
-
Focus on small actions you can take today.
-
Avoid negative comparisons with others.
Adjusting your perspective helps you reduce mental pressure and maintain clarity in decisions.
“Persist” – persevere with long-term goals
Accepting reality does not mean resigning yourself to fate. "Persist" means continuing to strive for a better future.
-
Set specific goals: pay off debt, learn new skills, increase income.
-
Break down goals into smaller steps to maintain motivation more easily.
-
Remind yourself that your current situation is temporary.
Persistent step-by-step effort is a key factor in the process of effective poverty escape.
Practice self-affirmation
Poverty does not mean inferiority. Self-respect and belief in your own abilities are the foundation for changing your life.
-
Recall times you have overcome difficulties.
-
Write down 3 of your strengths and reread them daily.
-
Remind yourself that you deserve a more stable life.
When you maintain faith in yourself, you won't easily give up halfway.
Turn pressure into directed motivation
Stress can drag you down, but it can also become a motivator if managed correctly. Combining a shift in perspective with persistent action helps you maintain positive energy on the journey to escaping poverty.
Step 2: Eat healthy on a low income
Understand the link between nutrition and poverty
When on a tight budget, many people choose processed foods because they are cheap and convenient. However, an unbalanced diet can lead to chronic diseases, increased medical costs, and decreased work energy. If the goal is sustainable poverty escape, you need to view nutrition as an investment in your long-term health and income.
-
Processed foods are often high in sugar, salt, and unhealthy fats.
-
Poor health directly affects your ability to work.
-
The cost of treating illnesses can be much higher than the money saved on food.
Eating right helps you maintain physical strength and focus to improve your finances.
Choose basic ingredients that can be used for multiple meals
Instead of buying small items piecemeal, build a list of staple foods that can be combined flexibly.
-
Rice, eggs, beans, potatoes, seasonal vegetables.
-
Garlic, onions, basic spices to enhance flavor without high costs.
-
Flour or dry noodles for preparing various dishes.
When you have staple ingredients on hand, you'll be less tempted to order takeout—a silent expense that slows down the process of saving money to escape poverty.
Buy in bulk when possible
Some items are significantly cheaper when bought in larger packs or quantities.
-
Rice, beans, oats, cooking oil are often cheaper when bought in bulk.
-
Allocate your monthly budget to gradually stock up on dry food.
-
Check expiration dates and storage conditions before buying in large quantities.
Smart buying helps reduce the average cost per meal while ensuring nutrition.
Prioritize fresh, reasonably priced seasonal foods
Seasonal fruits and vegetables are often cheaper and more nutritious.
-
Choose local products instead of expensive imports.
-
Plan your weekly menu before grocery shopping to avoid overbuying.
-
Reduce food waste, as it’s essentially throwing money away.
Healthy eating doesn't have to be expensive; it just requires planning.
View health as a long-term asset
A healthy body helps you work effectively, learn new skills, and maintain a positive mindset. In the journey of effective poverty alleviation, health is an irreplaceable foundation.
Step 3: Exercise without spending money
Why exercise is important when facing financial hardship
Prolonged financial stress can easily lead to physical fatigue and mental breakdown. In addition to a healthy diet, regular exercise is a simple yet effective way to protect your health. If you are pursuing sustainable poverty alleviation, don't overlook physical well-being.
-
Reduces stress hormones and improves mood.
-
Boosts energy for work and study.
-
Lowers the risk of illness, thereby reducing medical expenses.
A healthy body helps you maintain long-term motivation.
Walking – a free but effective exercise
You don't need a gym to start. Walking is an easy and suitable form of exercise for almost everyone.
-
Walk 20–30 minutes daily around your neighborhood.
-
Combine walking when taking your children to school or walking your pet.
-
When stressed, walking helps clear your mind and think more clearly.
This is a simple way to maintain a stable heart rate and improve endurance.
Utilize time at home for exercise
Even when busy, you can still do short but effective workouts.
-
Do push-ups, sit-ups, or squats in place.
-
Jog in place while watching TV.
-
Break it into two 15-minute sessions if you don't have a continuous 30 minutes.
What matters is not how long you exercise, but doing it regularly.
View exercise as part of your poverty alleviation strategy
It may seem unrelated, but good health helps you work more efficiently, reduce sick days, and increase your ability to seize opportunities. In the journey of effective poverty alleviation, a clear mind and stable physical condition are great advantages.
Step 4: Set goals to escape poverty
Clearly define short-term and long-term goals
Without a destination, it's easy to give up halfway. In the journey of sustainable poverty alleviation, goals are the compass that keeps you on track.
-
Write down short-term goals: pay off a small debt, save 5 million VND.
-
Identify long-term goals: have a 6-month emergency fund, increase income by 30%.
-
Set specific deadlines to easily track progress.
Writing down your goals helps you commit to yourself instead of just thinking about them.
Dedicate time to long-term goals
Long-term goals can easily be overshadowed by immediate pressures. To avoid this:
-
Schedule a fixed time each week to learn a new skill or review your financial plan.
-
Break down large goals into 3–6 month steps.
-
Track progress and adjust as needed.
Don't let urgent tasks today make you forget the bigger picture of effective poverty alleviation.
Build habits that support your goals
Financial success doesn't come from one big decision, but from habits repeated daily.
-
Wake up 30 minutes earlier to learn a new skill.
-
Read books or materials related to money management and career development.
-
Reduce time spent watching TV or aimlessly browsing the internet.
Every good habit is a small step forward that, accumulated over time, will create big changes.
Accept slow but steady progress
Real change doesn't happen in a few days. Like training for a marathon, you can't complete it in the first week.
-
Cut expenses little by little instead of making extreme changes.
-
Gradually increase savings as able.
-
Focus on 1% improvement each day.
Escaping poverty is not a race, but a persistent journey. When you persevere with each small step, big results will gradually form over time.
Summary of sustainable poverty alleviation
Stick to a budget and control spending
The foundation of any financial plan is a clear budget and the discipline to adhere to it.
-
Cut unnecessary expenses.
-
Track monthly income and expenses.
-
Prioritize saving as soon as you receive income.
When you control your cash flow, you begin to control your future.
Prioritize high-interest debt repayment
High-interest debt is the biggest obstacle on the journey to sustainable poverty alleviation.
-
Focus on paying off debts with the highest interest rates.
-
Avoid new borrowing until old debts are settled.
-
Build an emergency fund to avoid falling back into the borrowing cycle.
Reducing debt quickly frees up income for long-term goals.
Seek professional support when needed
If managing on your own is too difficult, you might consider working with a Financial Opportunity Center or a reputable credit counseling agency.
-
Receive guidance on debt management plans.
-
Support to increase income and improve credit scores.
-
Have a companion to help you maintain discipline.
Timely support can shorten years of struggling.
Set clear goals and build good habits
Escaping poverty is not just a financial problem but also a story of mindset and discipline.
-
Write down short-term and long-term goals.
-
Maintain habits of saving, learning, and exercising.
-
Persevere with small steps instead of waiting for big changes.
Maintain health and a positive attitude
A healthy body and an optimistic spirit help you endure financial pressures better.
-
Eat healthily, exercise regularly.
-
Connect with a positive community.
-
Remind yourself that your current circumstances do not define your future.
Escaping poverty is a long journey but entirely possible if you have the right strategy, consistent action, and perseverance. Every small decision today is a brick that builds a solid financial foundation for tomorrow.
References
- American Express Bluebird: A solid alternative to checking accounts. (2015). The Motley Fool. Retrieved from https://www.fool.com/investing/general/2015/05/04/american-express-bluebird-a-solid-alternative-to-c.aspx
- American Psychological Association. (2015). The psychological toll of poverty. Monitor on Psychology. Retrieved from https://www.apa.org/monitor/2015/07-08/cover-poverty.aspx
- American Heart Association. (n.d.). No time for exercise? Try our top 10 tips to get more. Retrieved from https://www.heart.org/HEARTORG/GettingHealthy/PhysicalActivity/GettingActive/No-time-for-exercise-Try-our-Top-10-Tips-to-get-more_UCM_442855_Article.jsp
- Avoid money drains: Check cashing stores, payday lenders, pawnshops and rent-to-own. (n.d.). InCharge Debt Solutions. Retrieved from https://www.incharge.org/military-money/story/avoid-money-drains-check-cashing-stores-payday-lenders-pawnshops-rent-to-own
- Benjamin Packard. (n.d.). Financial advisor. Expert interview.
- Bernard Marr. (n.d.). How to create a killer LinkedIn profile to get you noticed. LinkedIn Pulse. Retrieved from https://www.linkedin.com/pulse/how-create-killer-linkedin-profile-get-you-noticed-bernard-marr
- Building your savings despite a low income. (n.d.). Money Talks News. Retrieved from https://www.moneytalksnews.com/slideshows/11-tips-for-building-your-savings-despite-a-low-income/
- Debt relief: Where to go for help and how to avoid scams. (n.d.). NerdWallet. Retrieved from https://www.nerdwallet.com/blog/finance/debt-relief-where-to-go-for-help/#scams
- How to ask for a raise. (n.d.). U.S. News & World Report. Retrieved from https://money.usnews.com/money/blogs/outside-voices-careers/articles/how-to-ask-for-a-raise
- How to barter. (n.d.). Money Crashers. Retrieved from https://www.moneycrashers.com/how-to-barter/
- How to find a job when you already have one. (2012). Business Insider. Retrieved from https://www.businessinsider.com/how-to-find-a-job-when-you-already-have-one-2012-12
- Lower costs for health coverage. (n.d.). HealthCare.gov. Retrieved from https://www.healthcare.gov/lower-costs/
- MedicineNet. (n.d.). Benefits of regular exercise. Retrieved from https://www.medicinenet.com/script/main/art.asp?articlekey=43497
- Mind Tools. (n.d.). Staying focused on long-term goals. Retrieved from https://www.mindtools.com/pages/article/long-term-focus.htm
- More people need second jobs, but fewer can find them. (2013). Marketplace. Retrieved from https://www.marketplace.org/2013/07/15/wealth-poverty/more-people-need-second-jobs-fewer-can-find-them
- The frugal shopper: 5 things you should always buy used. (2014). U.S. News & World Report. Retrieved from https://money.usnews.com/money/the-frugal-shopper/2014/03/28/5-things-you-should-always-buy-used
- Washington Post. (2008). Article on stress and socioeconomic status. Retrieved from https://www.washingtonpost.com/wp-dyn/content/article/2008/02/21/AR2008022101091.html
Translated by: Lesley Collins Tran.
Updated on
Ngày 16 tháng 07 năm 2026 (GMT +7)
3 comments
Mình từng nghĩ chỉ cần “giữ tinh thần mạnh mẽ” là vượt nghèo được. Nhưng mạnh mẽ quá thì lại… mạnh tay mua sắm online 🛒. Cuối cùng mới nhận ra, tinh thần mạnh mẽ phải đi kèm kỷ luật tài chính thì mới ổn định lâu dài.
Có lần mình quyết tâm tiết kiệm bằng cách… không ăn sáng. Ai ngờ đến trưa đói quá lại ăn gấp đôi 🍜. Thế là bài học rút ra: tiết kiệm phải có kế hoạch, chứ không phải hành động “cắt xén” vô tội vạ.
Mình từng thử “thoát nghèo” bằng cách… mua vé số mỗi ngày. Kết quả là nghèo vẫn hoàn nghèo, chỉ có thêm bộ sưu tập vé số để gấp hạc giấy 🕊️. Sau đó mới hiểu ra, quản lý tiền bạc thông minh mới là bí quyết thật sự.