Sunday, July 1, 2007

My Minimum Budget

I like to figure out how small my budget can be. I am not living on this budget yet but it gives me an idea of how much I will need to save before I can live off my investment interest. This budget assumes I am living on the property that I own in my RV which I also own outright.

Car Insurance and Registration-$35
I thought about giving up my car but no, the area is too rural.

Property tax-$58
Life Insurance-$31
Health Insurance-$138

Propane-$10 (used for cooking and heat)
Water-$10 (delivered to home, no well yet)
Trash-$10 (1 trip to dump per month)

Cell phone-$41

Ok, I think that covers the basics. The total is $543.

Now for extras:

Satellite TV-$45
Internet and phone-$60
Christmas fund-$20

Total $700

That’s what I’m aiming for. If I can’t wait that long I might wait until I reach the half-way point and then fill in the gaps with a temp, seasonal or home based job. The idea is to be able to pay my bills AND have a flexible schedule.

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