UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: workwayless Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1498  
Subject: Living well on practically nothing Date: 12/19/2003 12:46 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
Recently I read the book "Living well on practically nothing" written by Edward H. Romney (2001 edition).

Due to job woes, the author and his wife have perfected the art of living on the cheap.

He claims that two people can live on as little as $12k per year:

Food $3500 or $70 per week
Rebt $3600 ($300 per month in a smaller city or town)
Utilities $1200 (no phone or cable TV)
Clothing (used) $500
Transportation $1200 (older car)

Remaining $2k for personal items, gifts, donations, and medical care.

But in another chapter the author seems to contradict this budget when he admits that health insurance premiums cost ~ $7k for a small healthy family. He advocates that people take advantage of guvmint programs (VA/medicaid) if eligible. But everyone else he advocates to "stay healthy".

The book has an interesting chapter on ways to live on no money at all. Another chapter covers living in mobile shelters and it includes an idea on living in a converted school bus.

I felt the author's writing style was somewhat rambling and I could have done with out the chapter on keeping your dignity while poor. But I did pick up a couple new frugal ideas.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement