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| Sat, 03-02-2013 - 3:33pm |
Here is a SAHM who takes careful budgeting to new heights. It must, of course, be noted that since her DH is military, the family is probably covered in terms of health insurance.
http://finance.yahoo.com/news/how-a-family-of-four-manages-to-live-well-on-just--14-000-per-year-174803218.html
"Wagasky, 28, lives with her her husband, Jason, 31, and their two young children in a three-bedroom family home in Las Vegas, Nevada. While Jason, a member of the U.S. Army, completes his undergraduate studies, the family's only source of income is the $14,000 annual cost of living allowance he receives under the G.I. Bill. Despite all odds, the family has barely any credit card debt, no car payment, and no mortgage to speak of."
[...]
"By the time Wagasky's husband came home from Iraq, they had managed to scrape together the $30,000 they needed for a downpayment on a home.
"But we decided the best option would be not to have a mortgage payment at all," she said. "We found a fixer-upper that didn't have a kitchen ... and we paid cash." "
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Actually anyone can do any of the things this family doing, make their own clothes, shop at thrift store, shop once a month and freeze food, do home repair/maintenance, set a budget for groceries and gas and do not allow the option of going over.
While their particular circumstance and the cost of living may no enable them to live on $14,000 per year it would enable them to live on much less than there are now.
"Not having a mortgage/rent or vehicle payments helps."
They don't have CC debt either, it seems. Not having to make payments on debt would obviously drop their expenses significantly.
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