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  • FIRST POST
    Nikkei
    What amount do you think you could live on a day???
    • #1
    • 5th Nov 09, 1:13 PM
    What amount do you think you could live on a day??? 5th Nov 09 at 1:13 PM
    Hey Everyone

    I've been reading "How I lived a year on just a pound a day" by Kath Kelly and it's really got me thinking. Now I don't know when Kath Kelly did this but I would assume that now prices have risen it would be more than difficult to live on just a pound day? I've decided that me, my partner and son are going to do something similar starting on the 1st January for a year so we can dent hugely the debts we have, however i'm not sure what is realistic. I had intended to set the amount at 5 per day total, but already some of the ideas of my friends is that it is completely unrealistic but is it?

    Our family is 2 adults, 1 child (aged 5) 3 dogs, 1 guinea pig. In the summer we will have fruit and veg from the garden, I can alos bake and make meals from scratch.

    The rules so far would be:

    Mortgage/Water/Gas/Electric/Insurances/Taxes/TV Licence/Train fare/MOT/Service (I have to go to Liverpool for college and cannot get there any other way) would be taken by DD and not be part of the ? amount

    Any items we sell during that time would not be added to our ? amount to top it up

    Any extra money earned by clicks/surveys etc 50% could be used to top up ? and the other 50% to go to debts

    Any extra money earned due to an increase in salary (i'll be qualified in my job so will be able to apply for higher paid jobs) will not be used to top up ?

    Any money not spent on one day can be carried forward but only to the end of that month

    Any money over spent on one day must be deducted from the amount allowed over that one month it cannot carry over any further.


    So based on the rules above, what do you think you could live on per day based on your family (could you post your family stats ie number of adults/children/pets so it's relative) I'm hoping you guys can help me arrive at a amount per day. Also if there's anything that is screaming at you as missing from the rules or hasn't been thought of I'd love to hear it!!!

    Many Thanks
    Nikkei
Page 1
    • Ames
    • By Ames 5th Nov 09, 1:23 PM
    • 17,690 Posts
    • 31,269 Thanks
    Ames
    • #2
    • 5th Nov 09, 1:23 PM
    • #2
    • 5th Nov 09, 1:23 PM
    Sounds like a good plan to me! I might think about joining you, although I'd have to spend the next month working out how much I need to spend to come up with a total.
    Unless I say otherwise 'you' means the general you not you specifically.
  • Nikkei
    • #3
    • 5th Nov 09, 1:28 PM
    • #3
    • 5th Nov 09, 1:28 PM
    Would love for you to join me, wouldn't be so scary knowing that there's someone else doing the same thing! Would be a good motivator too!!!!
  • cake21
    • #4
    • 5th Nov 09, 1:31 PM
    • #4
    • 5th Nov 09, 1:31 PM
    Second that, it's a great idea. Sort of like the Live on 4,000 a year challenge, but on shorter timescales. I couldn't keep myself going for a whole year, but your month by month sounds much more doable.

    Your rules sound good too, the only thing I would add is where there may be an opportunity to save on the DDs e.g. Gas/Electric/Insurances, maybe you could split those savings 50:50 topup/debt?
    • Helen105
    • By Helen105 5th Nov 09, 1:34 PM
    • 356 Posts
    • 2,920 Thanks
    Helen105
    • #5
    • 5th Nov 09, 1:34 PM
    • #5
    • 5th Nov 09, 1:34 PM
    I've been reading that book as well and I'd love to hear how you get on.

    I'm a single parent with two teenage daughters & I reckon 7 a day is as low as I'd want to go although that does include 10 per week pocket money for each girl.
  • LittleMissSkint
    • #6
    • 5th Nov 09, 1:44 PM
    • #6
    • 5th Nov 09, 1:44 PM
    Fab idea! I would totally do this, but I wouldn't have a clue what we live on a day - I couldn't even stab at a realistic figure :confused:

    Our family consists of: 2 adults, 3 little girls aged 6, 3 and 2. 3 cats and 2 Chinchillas.
    I'm 26, been with my OH for 8 years - we have 3 beautiful daughters and no debt collector can ever touch our family.
    LBM: 03/10/09 Unsecured Debts: 69K DMP Start Date 01/11/2009.
    • Tixy
    • By Tixy 5th Nov 09, 1:49 PM
    • 31,062 Posts
    • 39,469 Thanks
    Tixy
    • #7
    • 5th Nov 09, 1:49 PM
    • #7
    • 5th Nov 09, 1:49 PM
    Sounds like a good plan

    I'm trying to think what sounds reasonable (as in do-able but not too easily!).
    So this daily amount is going to cover:

    Food and other groceries,
    Clothes (including son's school clothes?)
    Haircuts,
    Entertainment - is son at any afterschool activities etc?
    Presents for each other (are presents for other people included)
    Son's toys/ treats/ pocket money?
    Any childcare costs?
    Mobiles
    Landline/internet/sky?
    Petrol
    Medical/dentists/glasses etc
    Any household repairs/purchases

    Anything else specific you have thought of that you would need to pay out. 5 does sound low, presumably food will be the main bulk of the cost, what do you spend on food at the moment? how low can you get this - if you spend 120 a month on all 3 of you (which sounds low to me) that is effectively using up 4 of your budget each day. 1 does not sound enough for all other items to me!

    Good luck though and do start a new challenge thread once you've decided how much you are going for.
    A smile enriches those who receive without making poorer those who give

    or "It costs nowt to be nice"
    • Tixy
    • By Tixy 5th Nov 09, 2:01 PM
    • 31,062 Posts
    • 39,469 Thanks
    Tixy
    • #8
    • 5th Nov 09, 2:01 PM
    • #8
    • 5th Nov 09, 2:01 PM
    Oh and just to add - I live alone and honestly think I would struggle on 10 a day, although a substantial chunk of that is for fuel costs due to a long commute.
    (I admit I am not hardcore at debt busting)
    A smile enriches those who receive without making poorer those who give

    or "It costs nowt to be nice"
    • Ames
    • By Ames 5th Nov 09, 2:20 PM
    • 17,690 Posts
    • 31,269 Thanks
    Ames
    • #9
    • 5th Nov 09, 2:20 PM
    • #9
    • 5th Nov 09, 2:20 PM
    Phew, I'm glad I'm not the only one looking at that kind of figure Tixy!
    Unless I say otherwise 'you' means the general you not you specifically.
  • JOANNESAPHINE
    When I read that book it inspired me too. It really gets you thinking about how much we overspend and waste doesn't it? I couldn't do it myself, although I am cutting back a lot more since reading it, but good luck to you.
  • elfen
    I'd struggle at 10 a day, as I also have prescription costs, and equpiment costs at uni (DV tapes, dvds, printer ink, paper). And gluten and lactose intolerances mean I have a hefty food bill
    ** Total debt: 6950.82 May NSDs 1/10 **
    ** Fat Bum Shrinking: -7/56lbs **
    **SPC 2012 #1498 -152 and 1499 ***
    I do it all because I'm scared.
  • MellyB
    I've read that book (after it being recommended on here!) and thought it was quite an interesting read although I think I'd draw the line at hitchhiking to go away to France!
    • Ames
    • By Ames 5th Nov 09, 2:56 PM
    • 17,690 Posts
    • 31,269 Thanks
    Ames
    Elfen, have you filled in a HC1 form?
    Unless I say otherwise 'you' means the general you not you specifically.
  • pink_numbers
    I read that book to inspire me when I feel tired of thrifty living. Makes you realise that I can do more to stop spending

    I control my spending per week (rather than per day), I find this works best for me as a month is too long (spend all my money at start, no money by week 3), and a day is a bit too strict.


  • Nikkei
    Hey Guys

    Sorry for being MIA until now, I went home and was baking a cake all night for a girl at work and didn't get chance to go online! It's good to hear so many others have read that book, I'm still only half way through and I'm really enjoying it. I love the idea (CAKE21) about using the money saved on gas/electric to topup and save, I'll add it to the rules list! (TIXY) thanks for the thoughts on all of the extras I'll need to take these into account. I'm sitting down this weekend with Ian to set this is motion! not many people have any ideas on figures to live on a day? Does anyone have a igure they think they could live on?
  • pink_numbers
    Having done both failed and successful challenges, I would say to keep the rules simple. You should be able to say your rule in one phrase, otherwise you will get bogged down on the detail.

    So it's better to say "We will live on 10 a day for everything" than "We will live on 7 a day, but that's not counting a, b, c, d, e, f and g, with top up allowances".


    • eco
    • By eco 6th Nov 09, 12:41 PM
    • 1,102 Posts
    • 2,469 Thanks
    eco
    hiya,
    thought I'd add my bit, I'm trying something similar for Novemeber and December to get a bit of practice, then doing it properly next year starting in January. I live alone with 2 dogs and I was thinking 5 a day was good for me, and I'd draw the money out at the end of the month and have to make it last. I'm struggling this month but have realised I don't use money off vouchers enough and I've been out with friends and didn't really account for this, but figure with a bit of imagination I should be able to get to pay day just.
    • Fire Fox
    • By Fire Fox 11th Nov 09, 11:19 AM
    • 23,970 Posts
    • 27,131 Thanks
    Fire Fox
    My one thought would be it's a shame some of you have mentally excluded certain 'fixed' costs - virtually nothing can't be cut back on. Water and energy bills can fairly easily be reduced, do you need a TV license or could you use BBC iPlayer for a couple of months, could you cycle or walk instead of drive, are you getting any discounts you might be entitled to on public transport .... I know you have probably already done a lot of this, but it's well worth revisiting every so often with an open mind (children think HOW, adults think BUT!). A useful thread would be Weezl74's 'Eat Healthily on 50p per day'.
    What a difference a day makes, twenty four little hours.
  • paybacktime2008
    I will be trying to live on benefit levels for 2010. Just had 3 months on income support, but luckily start new job next monday. If i had continued on benefits I would of had 137 a week to live on a week. That would be for everything except mortgage and council tax. This is for me and one child. I'll round it up to 20 a day which sounds a lot but once you've done gas/electric/insurance/petrol etc it isn't really that much. Challenge on!
    LBM 10/08 12510.74/
    • grandma247
    • By grandma247 11th Nov 09, 6:45 PM
    • 2,386 Posts
    • 33,178 Thanks
    grandma247
    My one thought would be it's a shame some of you have mentally excluded certain 'fixed' costs - virtually nothing can't be cut back on. Water and energy bills can fairly easily be reduced, do you need a TV license or could you use BBC iPlayer for a couple of months, could you cycle or walk instead of drive, are you getting any discounts you might be entitled to on public transport .... I know you have probably already done a lot of this, but it's well worth revisiting every so often with an open mind (children think HOW, adults think BUT!). A useful thread would be Weezl74's 'Eat Healthily on 50p per day'.
    Originally posted by Fire Fox
    As far as I know you can only reduce your water bill if you are on a meter. And from what I have read you must have a tv license even if you watch online. Also rent and mortgage are fixed costs.
    Energy bills can however be cut by winterizing your home and turning down the heat. Think about how you use electricity and gas.

    Great thread by the way. Already doing the 4000 challenge. Managed to pay off a large loan and pay down the mortgage by several thousand. Dh has now agreed to keep living as we are next year so we can pay it off completely although we may leave a little on it as we were advised it may be beneficial to us If we need expensive repairs in a hurry.
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