Being self-supporting requires us to earn enough money to
pay our bills. We need to pay for housing and utilities. Our monthly bills can
include a mortgage payment or a rent payment. It will also include a water bill
an electric bill and may include a gas bill. It will certainly include food
costs.
It may include a phone bill and a TV cable bill. Beyond
that, most of us need a car to get to work.
Bills are normally paid monthly. The first $1000 will
probably be for housing and another $500 might go to paying for water,
electric, gas and phone. Another $500 will go for food. A car payment,
maintenance, gasoline and auto insurance may cost another $500. If your net pay
is $2500 a month or more, you may be able to keep a roof over your head, but
you will need an emergency fund for tires and other expenses. You will need to
earn at least $35,000 a year and spend as little as possible to be
self-supporting unless you have a roommate to share the basic costs. You could
also work two jobs.
Norb
Leahy, Dunwoody GA Tea Party Leader
For those who are willing to work but unable to collect that $35K...I do it. I don't *recommend* living as far below the $35K baseline as I currently do, and it does require a home that's fully paid for, but I'd say any serious Creative Tightwad can still live on $20K and enjoy it.
ReplyDeleteMe? If I had $12K I'd have a real problem...choosing among all the deserving charities Out There.