Live Below the Line Challenge Daily Menu

Below is my daily menu for the Live Below the Line Challenge.  I’ll be having the same thing every day except Friday. That day I will have my breakfast meal twice and a burrito for dinner.

menu

It looks like I didn’t do a very good job with my shopping.  My daily calorie count is too low. In order to get enough calories I needed to buy food that was higher in fat and/or sugar. I will have a little bit of cereal and milk left over so I could add in a couple bowls of cereal somewhere.

Since I’m about 40-50 pounds overweight and the challenge is only for 5 days it wouldn’t be impossible to get by on this level of calories.  That being said,  I have full day continuing legal education classes on Wednesday and Friday.  There will be free food provided there and I most likely will eat some of that free food.  Doing so will mean I fail the challenge but I’m ok with that. If I can go Monday through Friday without spending anything on food I’ll feel like I accomplished something. For me the challenge is more about exerting a little self control over what I eat more than it is about seeing how little I can spend on food each day.

This menu may seem unhealthy to many of you, but it is actually healthier than what I usually eat.  Compared to my usual diet of fast food, soda, chips and other junk food this menu isn’t that bad.  Also, I will be having at least a little bit of fruit and vegetable each day which is not usually the case. This challenge does show that it is very difficult to eat healthy on such a low budget.  Healthy foods such as vegetables just don’t have enough calories per dollar to make up much of a super low budget diet. I might use the knowledge gained from this challenge to do the challenge again next month and see if I can come up with a healthier menu that provides a higher number of calories.

Live Below the Line Challenge – My Grocery Purchases

lbtlI’m going to be doing my version of the Live Below the Line Challenge for the next 5 days. After reading about the Live Below the Line Challenge in a post at My Money Blog, I decided to to do the challenge myself.  The basic idea of the challenge is that you eat for $1.50 a day for five days.  The $1.50 a day represents the U.S. equivalent of the extreme poverty line.  The purpose of the challenge is to raise money to fight poverty.  I’ll be making a donation when I complete the challenge and if you want you can visit the challenge site and donate as well.

The official challenge is April 29-May 3, but I’m starting my challenge today.  This works out better for me since I’m impatient and want to start now.  Also I have CLEs next Wednesday and Friday with free food and since I these CLEs are expensive I want to get my full value out of them. My April Food Challenge was a failure but I think I can do this challenge since it is only 5 days.  According to the rules of the challenge the full cost of all items consumed must be included in the budget. This means I can’t buy a jumbo bag of rice and only count the cost of what I eat. That would make the challenge too easy.  The challenge does allow spices to be prorated or sharing food costs between people.  Too keep things simple though I just did one $7.50 shopping trip and that will be the only food I eat for the next five days.  I’ve listed the food I bought and the cost below.  I’m going to post every day of the challenge sharing what I ate for the day.

 

Bananas

3 lbs x 29¢ $0.87

Carrots

1 pound $0.99
Hot Dogs 1 pound $0.99

Total Cereal

 10.6 ounces $1.77

Chocolate Milk

1 quart $1.00

Pork and Beans

4 15 oz cans x 29¢ $1.16

Burrito

5 ounces 39¢

Total


$7.17

The total came out to less than $7.50 but I’m not including sales tax.  I’ll probably add a little salsa to my burrito and that prorated cost would use up the remaining money.  It isn’t the healthiest menu although it is probably better than what I normally eat. I’ll be having cereal with a banana for breakfast and a hot dog and beans with carrots on the side for lunch and dinner four days. The last day I’ll be eating cereal twice and have the burrito for dinner. I have ten bananas so I can also have a banana as a snack sometime during the day.  I got chocolate milk because it was on sale for less than skim milk and I needed to stretch my money as much as possible.  I could have done this even cheaper by buying dry beans instead of pork and beans or just buying oatmeal instead of cereal and milk.  I’m lazy though and wanted stuff that was easy to make and I know I’d get tired of oatmeal after a couple of days.  I haven’t figured out the calories and nutrition yet.  I’ll share that information when I post my daily meals.

One Year Lived – Ebook Giveaway

I was recently contacted by Adam Sheperd, the author of Scratch Beginnings about a new book he has written. The new book is called ONE YEAR LIVED and it is about his one year around the world trip. I’m a big fan of his previous book and I’ve long wanted to take a similar kind of trip myself so I was happy to read the new book. I haven’t quite finished it yet I have enjoyed reading it so far. The book wasn’t as much of a travelogue as I was expecting but there are still plenty of details about his travels. Here is a link to a video of him fighting bulls. http://www.youtube.com/watch?v=PFn7a6eEhb4&feature=youtu.be You can also read more about the book at the One Year Lived website.

If you would like to get your own digital copy of the book, you can get a free copy of the book by sharing this post on Facebook or Twitter. Just leave a comment letting me know and I’ll let you know how to get your free book.

 

March Savings Rate – 59.71%

March was a decent month on my progress towards financial independence. My SWR went down to 54.50% from 62.54% the month before. My goal is to get my SWR down to 4% at which point I’ll consider myself financially independent. I’m seeing big declines in my SWR right now because I’m saving over half of my income and I’m reducing my monthly expenses. The way I am determining my SWR is by tracking my trailing 12 months expenses divided by the amount of my investments. Since I don’t think the preceding 12 months accurately reflect my expenses going forward I am using my monthly expenses starting in November 2012 to set the average so every low month of expenses makes a big change in the average right now. The big drops in my SWR will slow down once my trailing 12 months average is closer to my current monthly average.

My goal is to save 50% of my income each month and I met that goal in March. I made $3935.19 and managed to save $2350. That amounted to a 59.71% savings rate. My savings should have been better in March. I actually ended up with more cash on hand than I intended. That surplus will be invested this month. My full-time job ends this month but I get two full paychecks. My goal is to save 75% of my income this month so I can get ahead on my 50% savings for the year goal. That way if I have a couple months with a less than 50% savings rate after the end of my job I’ll still be on track.

The 4% SWR translates into having 25x your annual expenses in savings or 300 months of expenses in savings. I have 22.01 months of living expenses saved now. I should have over two years of living expenses saved by the end of the month. It is nice seeing my SWR go down in big chunks each month and my months of living expenses saved go up each month. That is why I’m working the crazy hours right now, so I can reap the reward in the future.

March Income – $3935.19

Here is a breakdown of my income for March.

Online Income

$335.76

Interest

$0.12

Dividends

$23.31

Cash Back

$28.07

Mystery Shopping

$42.00

Jobs

$3505.93

Total

$3935.19

My income was great in March although it was down slightly from February.  I expect my income will be about the same this month.  My full time job is ending but I will still get two full paychecks. Next month is when I will have a challenge to keep the income level up.  I doubt I’ll be able to keep my income at this level but if I’m able to keep it high enough to save 50% of my income that will be good enough.

I plan to work on increasing my online income and do more mystery shopping once my job ends.  The mystery shopping will be guaranteed extra money although not a lot of money.  The online income has potential to be much more but I can never be sure if my efforts will actually result in increased income.  I will still have my part time job so if I can make a decent amount from my passive income and my alternative income I should still make enough to save 50% of my income.