How To Thrive On 20% Of The Income That You Make Right Now

Friday, January 02, 2009 Posted by Shattered Paradigm

What would you say if someone told you that you could live on 20 percent of the income that you do right now? You would probably think whoever told you that is totally crazy.

Well, with the right planning it is not only possible, but you can also enjoy a better life on a drastically reduced income. One inspiring couple we read about recently went from living on $42,000 a year to only $6,500 a year and they not only lived to tell about it - they are thriving.

How is that possible?

By dramatically reducing your expenses.

Considering the state of the economy and the incredibly bleak outlook as we enter 2009, perhaps we can all learn some lessons from them.

If you want to live on such a drastically reduced income, here are some key tips.....

#1) Move to the country.

Living in the city is exceedingly expensive. Land and housing is much cheaper out in the country (and the air is much cleaner out there as well).

#2) Reduce the number of vehicles you own.

Most families need at least one vehicle. But does your family really need two or three or four? Think about how much money you could save.....

#3) Pay off your debt and throw away your credit cards.

Those little pieces of plastic are money sucking pits that will enslave you forever if you are not careful. There is a tremendous sense of freedom to being debt free.

#4) Grow your own food and eat healthy.

Food costs are soaring, and by growing your own food you will save a ton of money and will eat better at the same time. Also, by choosing a healthier diet you will greatly reduce your healthcare costs.

#5) Get rid of extra devices like cell phones that you don't actually need. Now, some people need cell phones for work, but if you don't really need them get rid of them. Personally, we are saving significant money each month by switching our cell phone from a monthly plan to prepaid "pay as you go" service that we only use for emergencies.

The reality is this:

Minimizing Your Monthly Expenses = More Freedom

In a world that is quickly falling apart, it would be wise for all of us to figure out how to make more out of our limited resources.

If you have other ideas about how to live a freer lifestyle, please feel free to leave a comment.....


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