This paper addresses two key issues in modern policy-oriented poverty research. First, we recognize that poverty is an individual feeling and not an objective status. This leads to an operational definition of subjective poverty as being below a certain degree of satisfaction. Second, we distinguish several domains of life, and consequently, several types of poverty, each pertaining to a specific life domain. It is found that, although the chance on being poor in one domain enhances the chance to be poor in another domain, it is justified to see poverty as a multi-dimensional concept. Poverty 'with life as a whole' may be decomposed into poverty components with respect to life domains. JEL-code: D310; I300; I310; I320.