2007-10-01 06:30:47 · 14 answers · asked by just me 2 in Business & Finance ➔ Personal Finance
or how about a family of three-2 adults-one child $50,000/year in Ohio-relatively cheap place to live
2007-10-01 06:36:08 · update #1
I know that it can be done, I have 4 girls and one boy, and a loving wife that does not work and i make 40 a year. i also have a 2007 mini van, a house and a dirt bike for my boy and all the other crap i aquired.
2007-10-01 06:38:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I believe that you can do anything that you set your heart on so if it means living on $30k p.a. whilst you set yourselves up for a better life then sure but you need to nurture the dream that you have of a better future.
Will you live sustainably off $30K p.a forever? Almost certainly not unless you live in a place where that provides a decent standard of living. Otherwise the pressures of modern living and consumerism may get to you and then debt etc loom.
I lived on the dole for 6 months whilst I found a good job. I "cut my cloth accordingly" for that period which was easy to do as I never thought that it was forever. Could I now live forever on $75K p.a. no way, not really happily but could I live on $30K p.a for a while? Yep.
2007-10-01 06:39:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, but you'd be having tight constraints on your budget.
It's best if you can invest some of your money on an asset that can earn money for even when you don't work ie stocks that give dividends. The more you can invest, the more you wouldn't even need to work and you can let the company/companies you've invested in work for you instead.
2007-10-01 06:34:52 · answer #3 · answered by joschoa 2 · 0⤊ 0⤋
Need details to give a better estimation. Location, own or rent, # of cars, how many work, alcohol, cigarettes, but mostly if someone is a great budgeter.
2007-10-01 06:38:07 · answer #4 · answered by Pancake 7 · 0⤊ 0⤋
yep me and my husband did for a little, it will be tight but we managed. I didnt work and we had TONS of bills. It may depend on where you live too.
2007-10-01 06:33:32 · answer #5 · answered by Sherie D 4 · 0⤊ 0⤋
Yes.
I suggest you to save at least $15,000.00 every year and buy a house as soon as possible if you don't have one already.
2007-10-01 11:38:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Sure you can, if you are careful with your money. Lots of people live on less.
2007-10-01 07:04:47 · answer #7 · answered by Judy 7 · 0⤊ 0⤋
Yes, it may be tight, but can definitely be done. If you budget wisely, you can live comfortably.
2007-10-01 06:39:32 · answer #8 · answered by Sugarcookie 5 · 0⤊ 0⤋
It is possible, but tight budget. Plan to live modestly.
http://en.wikipedia.org/wiki/Household_income_in_the_United_States
2007-10-01 06:41:54 · answer #9 · answered by Anonymous · 0⤊ 0⤋
sure, we are a family of 3 and live on 21,000 a year...
2007-10-01 06:33:34 · answer #10 · answered by Tx Guy 3 · 1⤊ 0⤋