J.D. at Get Rich Slowly recently had a post “Extreme Personal Finance:America on $10 a Day.” It was about a man who lives on about $3,700 a year. I found it interesting that some commenters couldn’t imagine living on anywhere close to that. Some didn’t think they could live on that much for a month. Although somewhat odd the man does seem to be quite content living on that amount.
It makes me wonder how little I could live on. There have been many years that I’ve lived on less than $10,000. It was pretty simple to do because I made less than $10,000. Since I avoided debt I couldn’t spend money I didn’t have leaving me with no choice but to live on what I made.
If I were free from the expenses associated with earning an income I think I could live quite comfortably on less than $10,000. If I were to spend six months hiking the Appalachian Trail and the rest of the time in Guatemala I think it would be fairly easy to live on $6000. That does include paying for health insurance. That year would probably be much more enjoyable than the present one too.
How little could you live on?