June Income

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Here is a breakdown of my income for June:

Job

$662

Online Income

$337.16

Bank/Referral Bonuses

$470

Interest

$13.43

Mystery Shop/Selling Stuff

$44.36

Total

$1526.95

My income was decent for June considering I didn’t work at my regular job very much. I had a great month for bonuses. Online income was also very good. I paid for one year of hosting and renewed my domain for two years or it would have been even higher than last month. I was also helped by having three paychecks in June. This month my income should be about the same. I probably won’t make nearly as much on bonuses but I’ll be working more which should offset that.

June Investment Income

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June’s investment income only rose three cents to $27.69 from $27.66 the month before.  This is somewhat depressing since I contributed $500 to my IRA in June but market losses erased almost all of it. I’m hoping for better results this month.

This is not my actual investment income. To get this figure I first add up my retirement accounts, emergency fund, and any other money I consider permanent savings.  What the total of my savings would earn at 6% interest for a month is my monthly investment income.

June Expenses

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Here is a breakdown of my expenses for June.

Household 

 $440.31 
Utilities 

 $79.15 
Food 

 $70.09 
Transportation 

 $334.61 
Student Loan Debt 

 $95 
Entertainment 

 $109.44 
Medical/Dental 

 $285.65 
Education 

 $60 
Total 

 

 $1474.25 

 

Expenses were up in June mainly due to my quarterly health insurance bill and my annual car inspection, registration, licensing, and personal property tax all being due in the same month.  Otherwise my expenses would have been around my $1000 goal. This month most expenses should be down or about the same. I might take a road trip to visit my brother. If I do that then my expenses won’t be down much.

Living Without A Car

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If I don’t choose to give up my apartment and live in a van, my other choice for greatly reducing my monthly expenditures is going without a car.  My car is paid for but this year I’ve averaged $262.79 a month for transportation expenses.  That includes registration, licensing, gas, maintenance and repairs.  The average is skewed a little high due to having to replace my clutch earlier this year but with my car having 230,000 miles it is likely it will need more major work done before the end of the year.  Although getting rid of my car wouldn’t completely eliminate my transportation expenses I estimate it would save me approximately $200 a month.

Before getting rid of my car I need to determine if it is feasible for me to live without a car.  I live less than two miles from school so I could easily get there by bike.  I have a grocery store right across the street from my apartment and my bank, the post office, a drugstore, and several restaurants are within walking distance.  If you’d like to see what is within walking distance of your neighborhood visit WalkScore.com.  Just note that the distances are measured as the crow flies and the businesses are pulled from Google Directory and aren’t always accurately described.

The problems with not having a car would be seeing my girlfriend and working.  Looking at the bus schedule it would take about one hour each way to see her which is longer than I’d prefer. It might be workable though.  Another option would be for her to always come see me or for her to come and pick me up.  That isn’t really a reasonable option and I’m not seriously considering it.  I deliver pizzas for a living which would be impossible to do without a car.  That would mean I’d have to find a new job or make all my money online.  I like my job but gas prices are making it less rewarding.  If I were to quit the job I’d probably have to find a new one since I’ve still got quite a way to go before my online income can cover my expenses.  I’d also have to rent a car or ride a bus when I wanted to visit my mom which would eat up some of the money saved by not having a car.

It does look like I could get by without a car.  Most likely I’ll choose to live in a van rather than go without a car though.  This is simply because I like the freedom of being able to get in my vehicle and go. That isn’t a financial reason but sometimes the personal trumps the finance.  I do encourage everyone to consider whether they could live without a car.

Living in a Van Down by the River

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I’m thinking about living in a van to lower my living expenses. I’ve already done all the usual frugal stuff but I feel the need to do more. To make any significant reduction now I have to eliminate either my apartment or my car. I decided to go with eliminating the apartment.

Ever since reading Blue Highways in high school I fantasized about traveling the country in a van but never got around to doing it. Eventually that dream expanded from just taking a trip but having a full-time adventure. After joining the Vandwellers group on Yahoo and reading various blogs by van dwellers,such as HoboStripper (NSFW), I’ve realized that this dream is actually quite feasible and I intend to make it a reality this year.

My plan is to move into a van when my lease terminates at the end of October. I’ll purchase a van in August or September so I’ll have plenty of time to prepare it for living in. My needs for the van will be very simple. I just need somewhere to sleep and the ability to store things. I’ll take my showers at the fitness center at school. I have my own carrel at school where I can keep my books and a small amount of other stuff. It also has an electrical outlet that I can use to charge my laptop and cell phone. For food I can use the microwave at school and keep a small amount of food in the refrigerator there. There is also an ice machine which I might utilize ice from occasionally. For my bed I’m just going to use a couple camping pads stuffed in a sleeping bag with a folded comforter on top. I’ve used this combo before and it is comfortable.

I don’t really think it will be difficult to live in the van while attending school. There are plenty of vehicles parked there overnight so my van shouldn’t draw any attention. This should save me about $400 a month and get my living expenses to a minimal level. This idea of living in a van down by the river probably seems crazy to some but I welcome any comments,suggestions, or questions you might have.