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How to live on $432 a month in America

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Re: How to live on $432 a month in America

#761
Never a fan of these 'click bait' headlines, and surprised it made it this high in hacker news. We get the 'premise', Mr. Money Mustache has been preaching similar for years, but these numbers are just not realistic. You need money to buy the house, maintain it, clothes, healthcare, NY is going to jack your taxes up, etc. and more, as all the folks have mentioned here.

Can some folks live more frugally, for sure, but this is unrealistic.

Re: How to live on $432 a month in America

#762
post #270

I've commented (probably too much) to argue with the harshest critics of this piece, but I am surprised to not have seen much this criticism which is my main one: Supposing I've made peace with the main gist of this: Cut living expenses to a point where you can work ¼ or so of the time most of us spend working by living somewhere cheap and not being so materialistic. The missing piece here is social connections. Fami…

Agreed. This suggests that there might be a market for a rural "community", as opposed to solo living.

Is this ultimately different than suburbs? Or are you describing a sort of remote kibbutz?

Re: How to live on $432 a month in America

#763
post #90

Earlier quoted context omitted.

Even a brand new iPhone 16 is “only” $800. Plans for unlimited internet can be had for less than $40 a month. Using that phone for 5 years would only add like $60 to their total monthly expenses. Is that truly unattainable? Is that really what is keeping people from buying a house?

I do believe that's a privilege to throw an extra $60 per month at something for five years straight. It's not truly stopping us from buying a house, but this mentality that everything could be bought on credit, this consumerism is where we are hurt.

They sell phones and data plans for cash that you prepay for. The 50-60 bucks was taking a monthly amortization over what would likely be a few thousand dollars upfront in expenses. Paying thousands upfront and using something for 5-6 years versus buying on credit for zero dollars down from the consumer perspective can have the same costs. Maybe it is more beneficial to not use credit long term. But unless you are also paying cash upfront you need credit and a credit history to buy a house.

Re: How to live on $432 a month in America

#764
post #453

Earlier quoted context omitted.

> if you have a social "thing" like tennis or climbing Then you wouldn't be able to cut down expenses to "nothing"/month. Social thing assumes expenses. Hobbies assume expenses.

> Social thing assumes expenses. Hobbies assume expenses. Entertainment is a line item in the budget: Library + Fishing = “Free” Libraries can be amazingly social, for eggheads. Lots of groups and events meet there in my town. It’s a full-fledged Third Space. [Neither the library access nor fishing gear is without cost, but at least they already account for taxes.] By the way, anyone who benefits from free stuff, for…

At $17/hr even 10% (versus your 5) works out to $3536 at the end of the year ($17/hr × 40 hrs × 52 weeks @ 10%), which is a fair bit short of the $15,000 standard deduction; it doesn't really matter whether those donations are tax-deductible or not—you're not going to be able to deduct them.
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