Tight Fisted Mister lives on $1,000 a month.  He recently laid out the budget of Frugal Freedom who lives on $700 a month.  That is so little!  It makes me wonder what is the minimum we could live on, if we absolutely had to.

It breaks down like this:

Rent: $855

Food:  300

Electricity: 75

Phone: 20

Life Insurance: 100

Misc. : 100

Total: $1450

How I got there:

If we lived close to my husband’s job we could potentially not have cars.  I really can’t imagine the four of us living in less than a two bedroom apartment and they go for about $855 a month, according to Rentometer.  I think we would need a phone.  Not cell phones but a house phone at least.  I cut our grocery budget down from $500 to $300.  It would be very hard to feed the family on that, but I suppose it’s doable.  Other people do it right?  This is supposed to be a bare bones budget.  The miscellaneous category would cover anything unavoidable the kids need, maybe a cab here and there if we need one, things like that.  I don’t know how much we would need in real life to cover those types of expenses.  I just guessed.

I’m happy with that number.  I’m not happy with the lifestyle that goes along with that low price tag, but I like knowing I could support our family if I had to.  When I was working I brought home $1,800 a month.  So I don’t see any reason why I couldn’t do that again.  And of course that budget is not using any of our current resources.  For example, we could use the equity in our home as a down payment on a small condo and have a payment less than $855.  So I guess overall I’m pleased.

Thanks for reading. If you enjoyed this post consider subscribing!

Post Footer automatically generated by Add Post Footer Plugin for wordpress.