The Running Realtor: Can You Survive On $60 Per .....?

A blend of ramblings about Real Estate & Running around New Haven County and the Connecticut Shoreline

Can You Survive On $60 Per .....?

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.

$100 Bill cut upCan 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
a Day for All Necessities
a Day for Little Extras
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.

Comment balloon 15 commentsNo Longer Active • October 29 2008 09:16AM


Oh My poor Sandra! Get this silliness out of your head right now Dano.

Posted by Jennifer Monroe, Real Estate REALTOR®/Broker in Beautiful Charlotte (Savvy + Company Real Estate) over 10 years ago

Dan, Never thought about my budget on a daily basis. I need to evaluate this notion.

Posted by Mana Tulberg, Real Estate Agent - Camarillo CA (805 County Real Estate) over 10 years ago

Jennifer... I hold onto my money, still pulling old fashion hundreds out of my wallet!  On a serious note my first decision before getting into the numbers was to plan a trip to Miami in January.  You should join us for a winter getaway...

Mana... Most don't think about it but the cost adds up quickly. The $240 it takes to live is a $10 bill every hour, 24 hours a day.

Posted by No Longer Active (Real Estate) over 10 years ago

Dan ... ugh...I hate when you start looking at our budget...means no new shoes for me : (

Hi My Jen

Hi Mana

Posted by Sandra Cummings, Real Estate Agent, Guilford Connecticut (William Raveis Real Estate) over 10 years ago

Exactly my thought Sandra! I quick did our budget and am now trying to figure out which number to pad for my shoes! I did add running, skiing and (ugh) golf expenses so I figure there's room.

Posted by Beth Forbes, Your 24/7 loan officer (The mortgage help you want when you need it.) over 10 years ago

Sandra...  You and Jennifer might be the same size so she could send her "used" shoes, afterall who would wear the same pair twice!

Beth... You can save a few bucks combining travel expenses. Plan your first New England ski trip in December  and we'll do the Christmas Run on your way home....

Posted by No Longer Active (Real Estate) over 10 years ago

Dano, just the type of cost saving measures I feel I should employ!

Posted by Beth Forbes, Your 24/7 loan officer (The mortgage help you want when you need it.) over 10 years ago

Dan I would say that it would be hard for someone to pay for housing, food, clothing, utilities, gas, etc. on $21,900 net income per year (ruffly $30,000 gross income), but I do know of people doing it.  They don't go anywhere, live in a very modest appartment, and do not eat steak every week, but they make it because they have to.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 10 years ago

Beth... Just let me know when you're ready...

George... Agree living on $60 a day is way below practical standards just don't think most people really know what they spend.  As for eating steak every night I cannot even buy decent steak anymore except when we go fine dining.  Where's the Beef?

Posted by No Longer Active (Real Estate) over 10 years ago

NOBODY wears the same size shoe as My Sandra!!! She needs an extra allowance for that since hand-me-downs simply do not exist for her.

We would LOVE Miami!!

Posted by Jennifer Monroe, Real Estate REALTOR®/Broker in Beautiful Charlotte (Savvy + Company Real Estate) over 10 years ago

You know, something scary happened to us this past summer.  My bread and butter (BPOs) stopped when I went on an 11 day vacation in June, only to return this October.  My husband didn't get his half year bonus ($17K) in August.  We were so screwed and I spent hours A DAY trimming the fat out of our budget.  We lived comfortably and things changed MAJORLY in a matter of two months which SUCKED big time.  Luckily the last two months are my top units sold months since I got my license here in 2005 but I was wondering if we were going to be one of those foreclosure statistics for about 30 days.

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) over 10 years ago

budget - that consists of - got to have it or would like it... other than that - it is out the window

Posted by Thesa Chambers, Principal Broker - Licensed in Oregon (Fred Real Estate Group) over 10 years ago

Dan, It's funny you should be focusing on your budget.  I've been going through my old records and came across my budget from when I was flying high as an independent consultant to Fortune 500 companies (in my younger years).  It was more than twice what we are trying to live on now, although we did move to a smaller home with less maintenance and lower taxes, we are still spending too much.  We sat down with QuickBooks and looked at how we could shave off as many expenses as possible and I was surprised at how much we were able to cut out pretty painlessly (dropping AT&T entirely, switching to our cable network's Triple Play, eating out less, etc.)

Posted by Gail Robinson, CRS, GRI, e-PRO Fairfield County, CT (William Raveis Real Estate) over 10 years ago


Great Blog very thought provoking...I'm rethinking my budget as I type...Oh Boy!

Posted by Tim Ludemann over 10 years ago


I appreciate this more than you know! 

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) over 10 years ago

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