Hello there! I have a question for you today. How little money can you live on and not be totally miserable?
Of course that is going to vary from person to person depending on how posh-totty your tastes have become but it’s a question I want to answer anyway. I heard of a woman living on £2,500 a year by not using her heating, reusing drain water, buying out of date meats to put in her freezer and using lots of coupons. Now she seemed pretty happy to me! She had also paid off her mortgage which makes life that little bit easier but still she was retired and saving money was her job!
Perhaps a more realistic goal for the rest of us is £10,000. It’s something I’ve wanted since I started my frugality journey in 2015 and one I can safely say is achievable and joyful!
Let me break it down for you. In my post about saving £12,000 in as many months I outlined how I save that money from flowing out of my debit card and into the mouths of some greedy corporate lions. In this post I’ll show you exactly what I spend in each category to give you a better idea of how our budgets may differ.
I always like to make it very clear that I am an adventurous person who likes to be challenged. In the past few years these challenges have included learning a new language, learning an instrument, bouldering, running, hiking abroad and making some of my own clothes. So this is not a miserly or miserable life by far, don’t be fooled by the pricetag! Maybe I bought it on sale.
INSERT BUDGET SCREENSHOT HERE:
|Category||Monthly Average||Annual Total|
|Rent and Utilities||£250.02||£3000.29|
|Cycle to work Scheme||£22||£264|
Not as much as I would have thought! Considering I live such a joyful and exciting life I would have expected a little more than this but it just goes to show that you don’t need half of what society tells you you need!
P.S This doesn’t include my pension contribution in case you were wondering. That counts as savings to me and it should to you too!
So how does yours match up? Anything you noticed was missing from my budget that’s in yours? Anything you think I should have that I don’t?
I hope you found some inspiration about what your finances can look like and give you hope that you can quit your shitty job or look after your awesome kids or travel the world or this dream or that dream! Go get it!