judywatt: (Default)
Could you survive on half your current monthly income?

It's a good exercise to do even if you are not actively trying to save money.

Suppose you suddenly became unemployed or disabled and your income was instantly cut in half?

Would you lose your home, or if you live in a rented home or apartment, would you have to move to a cheaper one?

If you own a car, would you lose that?

It's a good way to look at how much we spend on things that are really luxuries or entertainment anyway, and see whether we could still keep a roof over our heads and food in the cupboard if our income was cut in half.

Later... I did the execise and it looks like we would be OK on half - able to cover just the basic bills -  rent, food, gas and electric, phone, public transportation, internet, minimum payments on credit cards, laundry, and even our cable TV bill and have 22 bucks left over for fun!  We could not buy any new clothes, however - but we hate buying new clothes anyway.  So it was a reassuring exercise for me. :)

For the present anyway - but I worry about when we are retired and our income drops but our expenses keep increasing.  If that happens, it would make for a depressing retirement, without being able to travel at all or have much fun. 

.........
judywatt: (Default)
you too can become a money-lender

i don't think i would ever try this
as a way to make money
but it's an interesting concept anyway.

------------

money blog

Jan. 26th, 2007 01:08 pm
judywatt: (Default)
good blog of articles and info
on financial planning and stuff like that...

i will teach you to be rich

i know, the name of the blog is kind of off-putting
but really it's a good blog.

i have a bunch of money blogs on my bloglines list
and this is just one that's more interesting to me
than the housewifey kind that are more focused on
nitpicky ways to be more frugal
that everyone already knows anyway.

like telling people to brown bag their lunch
or stop eating out so much.  well duh.

i don't work in an office
and i rarely eat out
and i don't own a house or car
and i don't have a brood of children.

anyway.
...............

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