Blogs » Camille's Corner » Could you live well on $20,000 a year?

Subscribe


 
Could you live well on $20,000 a year?
By camilledoty in Camille's Corner
October 11, 2011

I am always looking for ways to save money. But it requires a lot of discipline, patience, and persistence. Every now and then, I still buy impulsively. It's rare, but I like the thrill of the experience.

Every now and then I go to the Yahoo! finance page. Yesterday, I stumbled on this article The Secret to Living Well on $20,000 a Year.

Joseph Fonseca, is a 28-year-old writer who supports himself on a modest income. He is single with no children and lives in Seattle currently, but he relocates every year for a work project.

To sum it all up, he uses public transportation or rides a bike to work, eats out on special occasions, and shops twice a year.

I'm impressed with his ability live below his means. However, I do have one criticism, he doesn't have any health insurance. Fonseca said he rarely gets sick, which is nice in theory. Medical emergencies can happen to anyone at anytime.

Do you think you could live well on $20,000 a year? What sacrifices would you be willing to take to get there?