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Old 10-30-2007, 04:12 PM
 
Location: Forests of Maine
29,724 posts, read 47,507,271 times
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Quote:
Originally Posted by GreenMachine View Post
Forest,

I see your point, but most people nowadays would find it awkward to live without a phone. I was only pointing out that it seemed like a few things were missing in this person's budget. Living on $100 a month for food is not easy, unless you are eating a lot of refined carbs like rice, noodles, potatoes and bread -- the stuff that contributes to obesity.

Greenie
All four of my grandparents lived long lives on corn, beans, greens, eggs and pork lard.

When you are physically active it rarely makes obesity.

When you become sedentary you need to really cut back, if you wish to try for the low BMI health index.

So physically active life works great on carbs, and sedentary life does best without much food at all.
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Old 10-30-2007, 04:55 PM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,063,564 times
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Quote:
Originally Posted by forest beekeeper View Post
All four of my grandparents lived long lives on corn, beans, greens, eggs and pork lard.

When you are physically active it rarely makes obesity.

When you become sedentary you need to really cut back, if you wish to try for the low BMI health index.

So physically active life works great on carbs, and sedentary life does best without much food at all.

I try to be modest in my grocery shopping, but I think it would be tough for me to live on corn, beans, greens, eggs, and pork lard. Call me a spendthrift, but I like a bit more variety in my diet.
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Old 10-30-2007, 05:44 PM
 
Location: Forests of Maine
29,724 posts, read 47,507,271 times
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Quote:
Originally Posted by GreenMachine View Post
I try to be modest in my grocery shopping, but I think it would be tough for me to live on corn, beans, greens, eggs, and pork lard. Call me a spendthrift, but I like a bit more variety in my diet.
When you have the options of wealth and leasure then you can follow whatever course you wish to follow.

My grandparents were farmers before the dustbowl, and again after the dustbowl. Farming through the depression, they fed themselves and lots of relatives and sometimes neighbors. But they rarely had any money to buy food with, and over decades of living like that they developed habits.

Even in the 1990s after having led a long life debt free and accumulating many rental units, they were still eating that diet.

One set still operated their dairy and boarding house right up until their deaths. The other set had gotten away from farming, but had 28 rental houses and a thriving tax business right up to their end. All four of them were in their late 90's when they each finally fell asleep.

None of them were obese.
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Old 10-30-2007, 05:51 PM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,063,564 times
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Quote:
Originally Posted by forest beekeeper View Post
When you have the options of wealth and leasure then you can follow whatever course you wish to follow.

My grandparents were farmers before the dustbowl, and again after the dustbowl. Farming through the depression, they fed themselves and lots of relatives and sometimes neighbors. But they rarely had any money to buy food with, and over decades of living like that they developed habits.

Even in the 1990s after having led a long life debt free and accumulating many rental units, they were still eating that diet.

One set still operated their dairy and boarding house right up until their deaths. The other set had gotten away from farming, but had 28 rental houses and a thriving tax business right up to their end. All four of them were in their late 90's when they each finally fell asleep.

None of them were obese.
I understand, but I don't want to eat like that just to accumulate money and rental properties.
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Old 10-30-2007, 07:23 PM
 
10,871 posts, read 41,162,985 times
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It's time to reel in your spending habits ... even if some of your spending was going into what you hoped would be a positive cash flow/increasing equity situation with real estate investing. Divesting a poor performing real estate investment is probably wise if you can't see an upside in the near term when you're cash poor.

As posted above, start tracking where all your income is going out so you can figure on which expenditures you can forgo until you must spend the money on them.

My bet is you're spending a lot more than you think on household discretionary expenses and capital expense on two non-performing properties and then facing the PITI mortgage hurdle each month with less money than you thought you had in hand.

In the longer term, you might get it all back in balance when the repairs are complete and you've got two rented properties. The question is ... in the current real estate market and rental market, will your properties cash flow? If they won't based on current projections, then you're going to have to accept that you're cash poor/dirt rich, or get rid of the drain on your finances.
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Old 10-31-2007, 10:59 AM
 
Location: Sanford, FL
732 posts, read 3,772,319 times
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Quote:
Originally Posted by martinez4 View Post
You do not show any medical insurance?? On an income of $8000/yr I am sure your employer is not paying it.
I get medical from my company and a company phone. My utilities, and cable are inc in my rent. $100 a food is easy but no satisfying. I make a lot of my own food and eat lots of rice, noodles and soups. Wal-mart brand $1 pizzas and such.
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Old 10-31-2007, 11:55 AM
 
781 posts, read 3,487,016 times
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Quote:
Originally Posted by Fnix View Post
I get medical from my company and a company phone. My utilities, and cable are inc in my rent. $100 a food is easy but no satisfying. I make a lot of my own food and eat lots of rice, noodles and soups. Wal-mart brand $1 pizzas and such.
Wow...these days you usually have to be making a lot more than $8000 a year to get medical coverage.....that is amazing and I would stay there as long as possible.

As far as your eating budget.....you are on the "college student diet"

If it works for you congrats......it would never fly with my family....different strokes for different folks
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Old 10-31-2007, 12:41 PM
 
Location: Sanford, FL
732 posts, read 3,772,319 times
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Quote:
Originally Posted by martinez4 View Post
Wow...these days you usually have to be making a lot more than $8000 a year to get medical coverage.....that is amazing and I would stay there as long as possible.

As far as your eating budget.....you are on the "college student diet"

If it works for you congrats......it would never fly with my family....different strokes for different folks
Yes college student diet. I work for UPS so I work part time 4 hours a day but benefits are best. When I get enough seniority I will drive and then I will live on a $50,000 year budget. :]

I'll work there for 25 years, retire and then restore my grandpas house he left me and live in it.
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Old 10-31-2007, 01:12 PM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,063,564 times
Reputation: 692
Quote:
Originally Posted by Fnix View Post
I live comfortably single on $8000 a year. Here are my expenses. I rented a room and not only does it have cheap rent but I got utilities and cable included so thats $600 in savings a month. Even though I am young I found the simple life is stress free. No car payments, no phone (I use work phone). You people have families but it still shouldn't exceed $50,000 a year. You should be able to live well on that. Like that guy said buy everything with cash. If you don't have the money now don't buy it. Go buy a used car or just use the ones you have until they run to the ground.

Rent $450
Car Insurance $80
Gas $100
Food $100
Misc $25
Okay, this already adds up to $9060 a year (not $8,000). On top of that, you mentioned in an earlier post that you go out to clubs regularly. In addition, there are a lot of expenses that are unaccounted for in this simple budget, such as phone, utilities, car maintenance, meals & entertainment, clothes, haircuts, doctor's expenses, furniture, and so on and on. I think I'd like to see a more detailed budget drawn up before I can accept these numbers. Do you actually keep a record of all your daily expenses? If not, I think you might be spending more than you might be aware of. Are you possibly living at home still?

Greenie
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Old 10-31-2007, 01:43 PM
 
Location: Forests of Maine
29,724 posts, read 47,507,271 times
Reputation: 17577
Take it easy, he works part-time and is a student.

So his numbers are a bit fuzzy, his point was that working minimum wage four hours a day, he is surviving.

He goes with his friends to clubs, drinks water and eats the peanuts. I have known friends who have done exactly that.

He has no TV and no phone. His employer provides medical [which I am used to seeing], and there is likely a girl who will cut his hair when she feels it is needed. Or he can go on campus and they will cut and style his hair for free.

We know a couple in their 40's who live like that right now. They own a travel trailer, they pay a seasonal rate for their lot, and they seem to be 'happy' on under 10k/year.
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