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Living Well On $11,000 per Year


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[h=2]The Secret to Living Well on $11,000 a Year[/h] Kimberly Palmer

Thursday, October 20, 201

Our last story on frugal living, "The Secret to Living Well on $20,000 a Year," stirred up some heated comments, many of which argued that $20,000 a year represents a king's ransom. "Someone should do an article on how to live on less than $10,000 per year. I am a single mother who is doing just that," wrote Rici of Wyoming.

An anonymous commenter from Texas wrote, "[i'm] not impressed. I live on $8,796 a year."

"I am retired and living on less than $1,000 a month [from] Social Security," wrote Liz Ortiz of Colorado.

Glenn Morrissette, 42, wrote in to say that he lives on just $11,000 a year, and he does it by living full-time in an RV. As a result, he pays no rent, needs no car, and can live wherever he wants. Unlike Joseph Fonseca, the writer we profiled in our "Living Well on $20,000 a Year" article, Morrissette has health insurance. A professional musician, he can work by computer from any location. He might not have a family support, as the teacher living on $40,000 a year does, but we thought Morrissette's story was interesting enough to share. We spoke with Morrissette, who is currently in New Jersey, about his lifestyle, which he also describes on his blog, To Simplify. Excerpts:

Why did you decide to live in an RV?

I had an apartment in Burbank and was the typical Los Angeles apartment dweller. I started to feel a strong desire to simplify my life. I had a garage full of stuff I never used, my closets were full, and I started to see that it was costing me money to have an apartment big enough to hold all the stuff I never use.

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[TD]Glenn Morrissette[/TD]

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My initial plan was to scale back and move into a smaller apartment. Before long, I realized I didn't need too much to be happy. I could fit into a small space. That's when the RV idea occurred to me. I was just sitting in traffic and an RV pulled up. I said, "I could probably fit in that thing." The more I looked into it, the more I realized how practical it would be. For what I was paying for rent in LA, I could own my "house" free and clear and not pay rent, and own my car as well.

How do you stay under $11,000 a year?

The two key things that make it possible are not having rent or a mortgage payment. I own my RV, so that was an initial expense [of about $14,000], but I have no house or car payment. Gas is controllable; I don't drive if I don't want to. Most months, I spend less than $300 on gas. I estimate that I save about $1,000 a month compared to what I was spending in LA.

What do you eat?

I eat pretty well. I don't skimp on food. I eat a lot of grass-fed meats, fruits, and vegetables ... some people call it the caveman diet. I go to farms, farmers markets, and health food stores. I probably spend about $250 a month on food. I could spend a lot less if I didn't care about eating well.

Do you have health insurance?

Yes. I'm self-employed so I purchase my own plan. I have a high-deductible plan and pay $80 per month. It would be even cheaper if I was 28. I don't understand young people who say, "I can't afford health insurance." Last year, my appendix ruptured, and the insurance was a life-saver. I learned my lesson.

What about clothes?

I'm a pretty basic jeans and T-shirt kind of guy. I don't have to go to the office, so I don't need a wardrobe. I have nine to 10 shirts and a couple pairs of jeans. I do have a suit so I can get dolled up when I have to, but my normal wardrobe is pretty minimal. I do one load of laundry every week, and I don't see the point of owning more clothes than I can do in one load of laundry.

Do you spend money on entertainment?

I don't go out much at all. I prefer the food I make to what I get in restaurants. More often than not, I'm disappointed. I'm pretty health-conscious and I want my food to be real food, so I'm content eating what I make. The idea of spending $30 at a restaurant--that seems like four to five days' worth of food to me. Years ago, I ate out every single meal. I'm kicking myself now, if only I had invested that money instead.

I'm not a big drinker, although I drink somewhat socially. I'm a pretty simple guy. Music is my life. Even if I'm not working, if I have a free day, I will spend a big chunk doing music. It's a profession and a hobby.

Do you splurge on anything?

The food I eat. I don't feel like I'm skimping at all. It's a form of health insurance to me.

And I just try to put myself in interesting places. I'm surprised how easy it is to do that. A lot of stuff is free out there. There's a lot of beautiful scenery in this country and it doesn't cost anything just to park. You can just drive into a national forest and live there for two weeks. I always try to give myself great real estate, whether it's by an ocean, a lake, or in the center of a cool little town. So I always have a great front yard, real estate that people would pay millions of dollars for, and it doesn't cost me anything.

I'm pretty frugal otherwise, and I don't miss it. I used to be part of the whole consumerist cycle, buying stuff I didn't need, and I don't do that anymore. It's liberating. I can maximize my savings. That's true freedom, to get to the point where I can say no to work anytime I want because I have a big enough nest egg. I'm not there yet, but that's my goal.

Do you have a retirement account?

Yes, I'm an avid investor. I guard my nest egg like crowned jewels. But I don't see myself ever retiring. I love what I do. I'd much rather do what I love and live small, and enjoy life.

Yahoo! Finance - Financially Fit

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If I didn't have a wife and kids I'd probably live in my truck and put all my money towards savings (and a few gun purchases). When I was in college I lived on around the same amount as this guy and still had beer money. Having a family completely removes you from that category of Americans that can live as a "free spirit".

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[TD]Glenn Morrissette[/TD]

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How do you stay under $11,000 a year?

The two key things that make it possible are not having rent or a mortgage payment. I own my RV, so that was an initial expense [of about $14,000],

$14k for that conversion van/RV? I don't think so.

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Ahh I live off of roughly $900-1k per month from my normal job and my "fun" money comes from side work and trading what I already own

Rent $450

Gas $ 60-150 depending on what I decide to drive

food $125

Car insurance $100

and misc expenses

Edited by M4sherman
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Yeah, if I weren't married I could live really cheap. I don't need that much myself and I don't have any particularly expensive hobbies or leisure activities. I don't know what it is about women, but they can make money disappear faster than anything you can imagine.

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Yeah, if I weren't married I could live really cheap. I don't need that much myself and I don't have any particularly expensive hobbies or leisure activities. I don't know what it is about women, but they can make money disappear faster than anything you can imagine.

You haven't found the right woman. My savings are much better now than when I was single.

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A loser with no life...no family...no wife...no children...never gets laid unless he pays...

Hippie.

:D Sounds like he is pretty happy with his life. If more people lived like this in the US maybe they wouldn't be in debt up to their ass.

Who the hell are you to judge?

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You haven't found the right woman. My savings are much better now than when I was single.

There are so many more expenses than when I was a bachelor. I pay more per month now between health/auto/home owners/life insurance alone than I even made when I was single. Growing up is expensive and it ain't exactly as easy as living in a camper van. More power to this guy if plans on staying single all his life, but this isn't an example for the majority of adults who have families... it just isn't.

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:rolleyes: Sounds like he is pretty happy with his life. If more people lived like this in the US maybe they wouldn't be in debt up to their ass.

Who the hell are you to judge?

Just where do you get off suggesting people take a common sensed approach of living within their means? Are you some sort of kook? :D

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If you can see the relationship, I'll share a little story. Not long before I served in the Army, there were soldiers who could camp out at a rank all the way to retirement. A mechanic in the motorpool might be happy as a pig in slop working on jeeps and trucks and not want or demand any more rank or money. Then the UP or OUT programs kicked in. No matter what, you have to keep increasing in rank, both enlisted and officer or once passed over to many times, your on the street. Even though they were happy where they were and in many cases did not have the apptitude for higher rank, they had to move up.

American society today, my opinion only, wants more rank and pay than they have earned or have the apptitude to handle. Herein is the problem. If your never happy where you are, and you don't want to do the work to move up but still demand it all, then we have issues. A mass of the public has learned they can vote themeselves a promotion and has not found a way to be happy where they are or work harder to earn the next rank. My three cents.

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Guest bkelm18
A loser with no life...no family...no wife...no children...never gets laid unless he pays...

Hippie.

So a person who lives within their means is automatically a loser hippie? Get a life. I applaud him and wish I could do it. At least he's not parading like a loon in New York asking for handouts like the people who cannot live within their means are doing.

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So a person who lives within their means is automatically a loser hippie? Get a life. I applaud him and wish I could do it. At least he's not parading like a loon in New York asking for handouts like the people who cannot live within their means are doing.

Ditto's

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I know an English guy that did the same basic thing for a good while. Beach musician, lived in his van, and got around mostly by bicycle. He made enough money to support that lifestyle, and was happy doing it. I never looked down on him, because he worked pretty hard at his music.

Don't know if he is still at it. He was having some issues with his visa. May be back in the old country by now.

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If he's happy, that's great. I don't think he's very good at what he does if he's only making 11k per year, however. At least he'll not likely become an addict on that income.

I think he's only spending $11k per year, it never mentions how much he makes.

I applaud him, but it would be hard to be single for me, and even harder to find a wife willing to live the same way. I love my wife too much to live that way, cause she'd leave my ass for even suggesting it.

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Guest jackdm3

I told my wife of this story, she said, "I hope you're not ... thinking about ... ?"

My father got the idea to sell all and get a boat with living quarters to take an oceanic residence. My step-mom, who hardly ever put her foot down to him, quickly said, "Oh, the HELL we are!"

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Guest Lester Weevils

I did musician work on the road a few years living in "free" hotel rooms and it got real tiresome after awhile. Maybe with puters and recorders and such much smaller nowadays it would be more tolerable but it was a real pain to tote in big equipment to the hotel room from the van and back to keep myself amused.

I need "puttering room" and it would have to be a heck of a big RV to have sufficient space for various hobbies. I mean, if you have a sudden need for a drill press or mini-lathe, what are ya gonna do? I only need the oscilloscope maybe once a year nowadays, but it would be a bummer not to have one available when necessary.

I occasionally work with a young single netherlands programmer who lives on the road in an RV. He spends most of his time in Spain, Riviera, scenic Greek locales. He can work anywhere he can get power and a satellite connection. And of course he can get his own power as long as he has money for gas. Sounds like a pretty good life for a young single feller. They have that socialized medicine so he drives back to the Netherlands for his medical and dental appointments. But I get the impression driving across Europe is about like driving from Chatt to Shreveport. ;)

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