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I've heard of professionals who used to make 100K a year switch to working part time for 50K a year to have time available to take care a child.
Another option is to start your own business, preferably something that doesn't require your physical presence. You'll be working LONG and HARD the first few years but after it takes off, it's pretty much autopilot and maintenance. This philosophy is explained in the book the 4 hour work week.
Most businesses fail in their first few years.
A better strategy is to work two jobs for a while and throw all income from the second into passive investments. When you have $200k in investments, you can scale back to part time work...
A better strategy is to work two jobs for a while and throw all income from the second into passive investments. When you have $200k in investments, you can scale back to part time work...
I make roughly 800-900 a month, sometimes a little more. Rent is $400 and includes utilities and internet. My apartment is 200 sq feet. My car is paid off, and live close to work so gas is maybe $60 a month. In good weather, I'd like to bike to work, but rarely get up early enough. I hate mornings .
I don't eat junk food, I can't. I can't have dairy or MSG and like to avoid soy whenever possible. There are very few processed junk foods that are void of all three of these. Thankfully, my mother and grandmother taught me to cook from scratch. I eat well. Peanut butter, eggs, apples, squash, carrots, beans, brown rice, potatoes, hamburger, chicken, tomato paste, onions, oatmeal. All cheap, and healthy if you do it right. Spices can be had for 88 cents - $1 most of the time.
I have a $10 tracfone and buy a 30 dollar card every 3 months. I still have my old android phone that I can use with wifi (doesn't cost anything to use, basically works like a mini-tablet).
Is it possible, yes its possible to live on the streets with zero income, is it advisable or idea? Probably not. Figure instead of having a 1 bedroom apartment paying a grand you could probalby rent a room for as little as like $200 a month maybe $250 with no utilities. You could eat frugally raymon noodles and stuff like that and discount grocery shop. Probably pay car insurance and gas as well if your car is paid off. It would be a very tight budget but could be done.
I make roughly 800-900 a month, sometimes a little more. Rent is $400 and includes utilities and internet. My apartment is 200 sq feet. My car is paid off, and live close to work so gas is maybe $60 a month. In good weather, I'd like to bike to work, but rarely get up early enough. I hate mornings .
I don't eat junk food, I can't. I can't have dairy or MSG and like to avoid soy whenever possible. There are very few processed junk foods that are void of all three of these. Thankfully, my mother and grandmother taught me to cook from scratch. I eat well. Peanut butter, eggs, apples, squash, carrots, beans, brown rice, potatoes, hamburger, chicken, tomato paste, onions, oatmeal. All cheap, and healthy if you do it right. Spices can be had for 88 cents - $1 most of the time.
I have a $10 tracfone and buy a 30 dollar card every 3 months. I still have my old android phone that I can use with wifi (doesn't cost anything to use, basically works like a mini-tablet).
1. How much does your health insurance cost?
2. Just because a car is paid off doesn't mean you can sustainably "live" on a budget. You have to either save monthly to pay cash for an eventual next car, or be prepared to handle a future car payment. Unless you can go with no car at all, you ALWAYS have to have some sort of allocation either for a car payment or saving for the next car.
The MINIMUM amount for this is the depreciation of the current car. Anything less is "living on borrowed time" and you will be out of a car eventually.
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