Can You Survive On $60 Per Month? That title caught my eye a few weeks ago and has remained on my mind for a few reasons. First because it was a featured ReBlog that reinforces the fact that features are not about the written word but more about who posts those words. Secondly because I agree people should live within their means and had been planning to look at my numbers but kept putting it off, a blogging idea is often a motivator to get something done.
Sure, you can convince yourself you are living on only $2 a day if you excluded food, housing, transportation and all the rest of life’s necessities. But isn’t that the logic that created the Mortgage Meltdown Mentality? With today’s economic environment we are all looking for ways to stretch a buck but first we need to take a hard look at expenses.
Can You Survive on $60 Per Day? That was my initial thought while rehashing the idea of budgeting but I knew in most cases that figure would not be enough. I decided to break my expenses down into four budget categories.
$60 a Day for Housing
$60 a Day for All Necessities
$60 a Day for Little Extras
$60 a Day for Taxes
Being in a commissioned based business I don’t get paid by the day but still think in terms of hourly wages, weekly pay checks and monthly gross income. Calculating my expenses in each of the categories gave a clear message HALT. The numbers didn’t work. Maybe if I devote $60 a day, 365 days a year to each group it will balance.
What does it really cost you to live? Everyday, 365 days a year expenses continue. Don’t trick yourself into a false sense of security. The method used to dispense your money whether it is cash, check or charge doesn’t make any difference. Knowing what you have verses what you need will dictate daily spending habits so you will survive.
If reviewing your budget leads to the decision to make a change in housing contact me, Dan Cummings - Connecticut's Running Real Estate Agent for help buying or selling property in New Haven County.