How little money can a person live on?

[Carnwaj]

Thought provoking article from the BBC

How little money can a person live on?

http://www.bbc.co.uk/news/magazine-22065978

[mikefixac]

It's a strange thing, but once I had enough money, it was easier to spend less. Because now I'm more able to look at the total picture, and see that it's not difficult, and even rewarding, to live on little money.

It was Jacob at ERE who mentioned that all these financial people ask "how much do you need to retire", while he asked "how little do you need to retire". When I read that, and thought about what Jacob said, I thought, how brilliant.

It may be a little turn of thinking about something so important as FIRE, but it turned my world upsidedown.

[jrs]

Oh wow, that detailed table showing "A healthy diet on £15 a week" is great!
Thanks for the link.

[Jamesqf]

Interesting, especially some of the notes.  For instance

Theoretically it is possible to eat on £12 a week, but in practice it will be double that, because people don't have good cooking skills and the equipment they might need.

  So the taxpayers are supposed to pick up the tab for ignorance.

Then there are some of the discretionary items.  With the exchange rate at £1 = $1.54, that  £7.98 pack of cigarettes costs $12, a pint of beer $4.50...

[Joet]

I figure I could live out of my car for maybe $500/mo haha

I don't think this answers the question tho!

[daverobev]

I figure I could live out of my car for maybe $500/mo haha

I don't think this answers the question tho!

You'd still need $500?! Heh.

I quite liked reading through http://cheapgreenrvliving.com/ - there are plenty of people living like that, I think. More difficult here (Ontario), though once/if I become a citizen I could snowbird down to Arizona or wherever. It's appealing, somehow.

[Joet]

I don't think INS is looking for Canadians :)
or just go 6 months out of the year only right?

[tuyop]

I figure I could live out of my car for maybe $500/mo haha

I don't think this answers the question tho!

I'm planning to move into my car at the end of May if my plan to get to Alberta doesn't go well. I played around with the budget a little.

Since I have a free gym membership through work and would only move the car to avoid looking like a squatter, I'm pretty sure I could make do with my camping stove, a cell phone, and some incidentals like shaving cream. It kind of looks like this:

Food: $5/day including fuel.
Cell: $25/month
Incidentals: $10/month
Fuel: $50/month
Total needed for car living: $235/month.

I'm very lucky to have that free gym membership, public healthcare, lots of camping gear, and to be living in a place with tons of woods and dark vacant lots that nobody will notice a car parked in for a couple of days at a time.

[LightTripper]

It is worth having a look at the original study, because it explains more clearly what this "Minimum Income Standard" actually is.  It's not supposed to be the minimum for survival, but rather what is the minimum that is needed to participate in society.  It is based on interviews with a cross-section of the public so includes whatever they (on average) think is reasonable.  So for example, it does include money for exchanging gifts, even though that is obviously not necessary to "live": but people do judge it necessary for an "acceptable" standard of living.

http://www.jrf.org.uk/publications/MIS-2012

Still an interesting study, no doubt: but it's not supposed to be an absolute minimum.

[Self-employed-swami]

I figure I could live out of my car for maybe $500/mo haha

I don't think this answers the question tho!

I'm planning to move into my car at the end of May if my plan to get to Alberta doesn't go well. I played around with the budget a little.

Since I have a free gym membership through work and would only move the car to avoid looking like a squatter, I'm pretty sure I could make do with my camping stove, a cell phone, and some incidentals like shaving cream. It kind of looks like this:

Food: $5/day including fuel.
Cell: $25/month
Incidentals: $10/month
Fuel: $50/month
Total needed for car living: $235/month.

I'm very lucky to have that free gym membership, public healthcare, lots of camping gear, and to be living in a place with tons of woods and dark vacant lots that nobody will notice a car parked in for a couple of days at a time.

Have you got a job lined up, for when you get here?

[tuyop]

I figure I could live out of my car for maybe $500/mo haha

I don't think this answers the question tho!

I'm planning to move into my car at the end of May if my plan to get to Alberta doesn't go well. I played around with the budget a little.

Since I have a free gym membership through work and would only move the car to avoid looking like a squatter, I'm pretty sure I could make do with my camping stove, a cell phone, and some incidentals like shaving cream. It kind of looks like this:

Food: $5/day including fuel.
Cell: $25/month
Incidentals: $10/month
Fuel: $50/month
Total needed for car living: $235/month.

I'm very lucky to have that free gym membership, public healthcare, lots of camping gear, and to be living in a place with tons of woods and dark vacant lots that nobody will notice a car parked in for a couple of days at a time.

Have you got a job lined up, for when you get here?

Yes, but it's not a simple situation. I'm waiting for vocational rehab because I can't continue in my current job due to a training accident (military), I'm just kind of fed up and the whole thing is a fucking nightmare so they might separate me and my spouse (we're getting married on Friday) and I don't really want to pay for two residences. The chances are, given my track record, that I won't get any benefits at all and will just quit the military by July and hitchhike my way from New Brunswick to Alberta to live with my partner.

But during the car living or tent living or whatever it ends up being, the two of us will still continue with our 5500/month income, my partner will just have to pay rent and maintain a household on the other side of the country, and I don't believe I need that shit for what I'll be doing so I'll try to do without and minimize the burden that I place on my family.