Tuesday, January 30, 2007

How to live on $1K a month?

Is that possible? Yes, this is dedicated to those who are still in single and you really want to save. 4 golden ideas on how to live on $1K a month:

Cook yourself
Where possible, live with our parents or family. It also encourage for bonding and familial ties. If not possible, cook yourself. Cook yourself a breakfast and lunch. The money that you spend per meal should be ~ $3. So you spend $2 X 3 = 6 for breakfast, lunch and dinner, that is $6 X 30 = $180 per month.

Rent a house not a room
Again, live with your parents or family if possible. The strategy is rent a house and rent out rooms with higher price than the market value. I have a friend rent a house at $650 and rent out 3 rooms for $600 and he stays in the smallest room of the house. If you can ever rent out your rooms > $650, that is even best!

Skip your dinner
Dinner is not important. Skip it if possible. Take your breakfast, lunch and tea break at 5 pm. Dinner is not really that necessary.

Shop with your full stomach
As my previous post - How to Save In Shopping, talked to my colleague on this, it turns out that it doesn’t apply to him. Second thought, he may not be nature to like shopping. So, I guess this technique will most probably can be applied for those who love shopping in nature. Anyway, the key is still buy only what you need.

4 Comments:

cozuni said...

skip my dinner??
I always skip my breakfast.. but not dinner. =)

ChampDog said...

I used to skip breakfast too. Nowadays I still do that sometimes. I eat heavy lunch and dinners. That's why now I"m a fatty. :D

Michael Tsen said...

ya, skipping or having light dinner and definitely no supper is a great step toward finance freedom .... I bet there are less than 1% who can do that ...

ChampDog said...

I'm one of the 99%. Maybe I should start with the light dinner first. This plan sounds good but I doubt I can do that especially I sleep quite late recently. :D


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