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$500/mo? pfft. We did that and then some last year. Eliminated mortgage payments, dropped home insurance costs by $125/mo, dropped property taxes by $180/mo, dropped health insurance costs by $100/mo, dropped the water bill by $90/mo, dropped satellite tv taxes by $5/mo, and so on. How? Moved from south Florida to rural north Alabama. $500+ savings per month BEFORE eliminating the mortgage payment, which was even more substantial.
Our goal was to get us to a situation where we could live comfortably on $10K per year. We haven't reached that goal yet, but if push came to shove, the bottom dropped out entirely, and we wanted to eliminate some frills, we could... AND provide a place for extended family to do the same. With perserverance and a bit of luck, I think we can also make our land earn the $10K to support us. Our current modest goals are to drop power costs under the $120/mo level, and eliminate our produce and meat and eggs costs. In case you haven't guessed, we saw a lot of this period coming, and moved before moving became impossible.
FWIW, the early 1970s had an inflation rate of up to 17%. My guess is that once the LONG TERM increases in the costs of gas and food are factored in to make a good comparison, we'll be looking at 20% to 22% for this and next year. Rough, and something to differentiate the grasshoppers from the ants, but do-able.
A key factor in survival is, if Dodge is charging outrageous taxes, and insurance companies want to charge you a premium for living in Dodge, GET OUT OF DODGE!
Vote with your feet against excessive government and punitive fees like a tax on reception of your satellite signals. Tell the local pigs feeding at your property tax trough to find another milch cow.
Is it worth $6000 per year for you to live with restrictions on what color you can paint your house and what days and hours of the week you can water to keep your personal land from dying? Is it worth $500 a month to enjoy a traffic jam and watch the municipal sprinklers water the median while you can't? Is it worth $17/day to listen to the comfort of police choppers overhead trying to help apprehend the latest robber/rapist/shooter? If it isn't, get off the dime. Let the chips fall where they may with bloated local governments.
It sure seems like the only way to a better quality of life is to leave south Florida behind. Makes you wonder who is dumb enough to replace those who have left. My biggest worry is that after moving, idiots will ruin the area you moved to , just like they did in Florida, California, New Jersey, etc.
It has been my goal for the last year to stash $500 a month into my savings account and I have managed to do that just about every month. I am planning to retire in several years and wanted to cut my living expenses to about what I thought I would have to live on then to see if I could do it. I still blow a lot of money, even while stashing that money into savings.
Soon, I will be moving my almost new and already paid for mobile home to private property where I will have no rent to pay and that will save me almost $200 a month. If I can get internet without a land line, I will drop having a house phone since I hardly use it anyway, preferring my cell phone. I only have basic cable now so I can't cut back more on that unless I really get caught in a crunch.
My cats will stay, I may have to cut back on the yearly check ups and switch to cheaper food and litter for them and cut out the new toys every payday but they won't mind.
I saw this all coming! This inflation or whatever you want to call it has been in the makings for awhile. I do not see gas prices leveling off until it is $5 a gallon and then, once we get use to that, it will go up again. You better get ready for it, the handwritting is already on the wall!
I have joined a vanpool to and from work, and it has saved me $$$ at the gas pump! I used to fill up my poor lil mustang about 3-4 times a week! Now I only have to fill up once a week! That's a savings of about $480.00! =oP Unfortunately, I still have to cut out the dining out & frivolous shopping! =o)
"Makes you wonder who is dumb enough to replace those who have left"
Raising hand....ME, ME!Dumb ME!
Compared to living in very costly NYS, if we are to be poor, hungry and immobile, at least we won't freeze while being so.
Damn, you plant and grow your own mustard? Now that is dedication, lol. Last time I bought mustard, I think it cost about $3 for a 1/2 gallon at Costco and lasted like 3 years. Threw it out in fact as it was stale. I would say buy the mustard and use that energy on something that can save you even more. If you're that resourceful, brew your own beer and wine. Would be fun and real cheap.
I have made our own beer and wine.
Our son just started another 10 gallon batch of wort this past weekend.
We prefer Gallo's Livingston Cellars wine, so we have been drinking their wines. [my sister is a grape farmer who supplies Gallo]
Wine is more expensive and finicky to make ourselves, so I do not prefer to do that myself.
We do however brew a bit for the production of our own vinegars [red wine, malt and white vinegars].
Our apple orchard should come into it's heavier harvest years in about 2 years, and then we will be producing about 400 gallons of cider / year.
We currently produce most of our spices [by weight and volume]
Our real goal is to get our ginseng production up though.
Get a electric hair clipper and sheer the the dogs yourselves. Get a book or video to show you how and remember the mistakes will grow out. The dogs won't care. Give them a biscut and you could shave them bald.
no cable tv
no cell phone contracts (sparingly use a pay as you go cell phone)
eat breakfast and dinner at home (going out is a treat)
pack lunches for entire family
get videos from the library or on the computer
drive fuel efficient cars (self - 8 mi. to work, spouse - 3 mi., kids take the bus)
combine car trips to stores, library, friends' homes, etc.
keep cars until they fall apart or hand them down to the kids
buy everything on sale
we only use the ac about seven days per year
use a programmable thermostat
do not buy drinks - drink tap water (kids have milk with breakfast and dinner, on weekends kids get a pop and we get adult beverages)
read and compare the UPC codes at the grocery - buy the best deals
do not try to keep up with the Joneses
read, garden, walk, bike, bake, and cook as hobbies (develop low cost hobbies)
read The Millionaire Next Doorand follow the advice given
have small pets - 25 pounds of dog is a lot cheaper to feed than 125 lbs.
do not buy new when used will do
realize that what you want and what you need are often two different things
Get a electric hair clipper and sheer the the dogs yourselves. Get a book or video to show you how and remember the mistakes will grow out. The dogs won't care. Give them a biscut and you could shave them bald.
Get rid of the dog and you don't even have to buy the clippers or biscuits
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Cutting down
