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Old 12-17-2012, 11:03 AM
 
621 posts, read 267,244 times
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I have been living on $300 to $400 a month for the past 10 years. I paid off $11k worth of debt in that time. (Lump sums went against debts.) The more you pay down debt the more income you have to spend. A resent addition is the concept of spending what money you have on what you really need to get. ( I tend to horde money for food) Don't spend money on things you don't need.
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Old 12-17-2012, 11:06 AM
 
Location: southwestern PA... where the nest is now empty!
12,101 posts, read 13,940,048 times
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Quote:
Originally Posted by pie_row View Post
The more you pay down debt the more income you have to spend.
OR...
The more you pay down debt, the more income you have to SAVE!
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Old 12-17-2012, 11:15 AM
 
621 posts, read 267,244 times
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Quote:
Originally Posted by Pitt Chick View Post
OR...
The more you pay down debt, the more income you have to SAVE!
Well when My income went from $300 to $325 I saved the $25 a month.

I saved up $400 on $325 a month over about 18 months.

A small amount of money extra each month does very little for economic stimulus.

A lump sum does a lot. People do extra stuff with an extra lump sum. They save/live on a little extra money each month.
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Old 12-17-2012, 04:07 PM
 
Location: Australia
1,058 posts, read 717,106 times
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I love this thread! I will be watching it.
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Old 12-17-2012, 04:33 PM
 
Location: Colorado Plateau
877 posts, read 1,200,107 times
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Great thread. Way to go OP!

I one had an older wiser friend tell me: "You're lucky. You know how to get by on nothing."
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Old 12-17-2012, 04:37 PM
 
2,116 posts, read 1,553,914 times
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How do you do this? If I didn't have to pay for a place to live I could easily do this. Are you retired? Just asking because you said your income increased from 300 to 325 which could only mean retired (which isn't a lot at all) or your making minimum wage.

I want to live cheaply as possible. The only thing I would never give up is safety. If I have to pay extra to live in a safer neghborhood I will. Other than that...cheap cheap cheap. Lol. I would rather fund my hobbies or do something fun with the gf than pay $150 for a cell phone plan.
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Old 12-17-2012, 05:22 PM
 
1,481 posts, read 1,102,449 times
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I would also be interested in how you do this.

What is your plan for an emergency?
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Old 12-17-2012, 05:39 PM
 
3,242 posts, read 3,039,644 times
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Hey, Stabby, we also want to add some income by selling admission tickets, so if you want to watch - it's $15 a month, so that we can make $400 out of it.

A man I know, who is now a preacher in a large church, once placed a bet he'll live a month off $15. It's actually not so hard to do, as far as you have real good mpg vehicle, and know all food banks and clothes banks in the area. Sam's and Costco will give you plenty of "weekend special" treats at kiosks too.

That's why I am so much skeptical, every time I see "every 3rd person in the country is starving" slogan.
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Old 12-17-2012, 09:53 PM
 
10,100 posts, read 14,750,134 times
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Quote:
Originally Posted by ukrkoz View Post
Hey, Stabby, we also want to add some income by selling admission tickets, so if you want to watch - it's $15 a month, so that we can make $400 out of it.

A man I know, who is now a preacher in a large church, once placed a bet he'll live a month off $15. It's actually not so hard to do, as far as you have real good mpg vehicle, and know all food banks and clothes banks in the area. Sam's and Costco will give you plenty of "weekend special" treats at kiosks too.

That's why I am so much skeptical, every time I see "every 3rd person in the country is starving" slogan.
That isn't realistic. How can one have a car and live off so little? What about car insurance? Now if you don't have a car, that makes it easier, especially if you can walk to a lot of things.

And speaking about insurance, what about healthcare costs? I realize many people go without insurance, but that's not something I would ever suggest. I'm sure there are also many people out there who have to make tough decisions between healthcare (whether insurance or even just things like medicine or copays for medicine) and food.
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Old 12-17-2012, 10:00 PM
 
Location: southwestern PA... where the nest is now empty!
12,101 posts, read 13,940,048 times
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Quote:
Originally Posted by uptown_urbanist View Post
That isn't realistic. How can one have a car and live off so little? What about car insurance? Now if you don't have a car, that makes it easier, especially if you can walk to a lot of things.
The bet was that he would live off $15 for ONE month.
The car could be gassed up the day before the bet was to begin.
The insurance could be paid up for that month.
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