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(Yahoo)   The secret to living well on $40,000/yr? Write two books on living on $40,000/yr to avoid living on $40,000/yr   (finance.yahoo.com) divider line 214
    More: Obvious, stay-at-home dad, madison avenue, special educations  
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10189 clicks; posted to Main » on 26 Sep 2011 at 12:45 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2011-09-26 12:46:35 PM
The secret?

Don't have kids.
Stay single.
 
2011-09-26 12:46:50 PM
The secret to living well on $40,000/yr?

Stay drunk.
 
2011-09-26 12:47:28 PM
I'll teach you how to become a millionaire $20 at a time. Just buy my book for $20.
 
2011-09-26 12:48:54 PM
I used to live on $40,000 a year in California, it sucked.

My solution was to work hard and get promotions, bonuses and overtime.

/Now, I still live on 40k per year, if you don't count my vacations and electronics purchases (IE, the bare necessities come in at under 40k).

/also, don't have kids :P
 
2011-09-26 12:48:58 PM
The secret to living well on $40,000/yr?

Live in some crappy and cheap town in the Midwest or South.
 
2011-09-26 12:49:15 PM
I like to think I live fairly well on $30k.
/Single
//Overworked
///No social life.
 
2011-09-26 12:50:15 PM
Oh foolish submitter, do you really think this guy is making a lot of money off these books?
 
2011-09-26 12:50:39 PM
Move to Sothern Mexico?
 
2011-09-26 12:50:58 PM

Tax Boy: The secret to living well on $40,000/yr?

Live in some crappy and cheap town in the Midwest or South.


Works for me.
 
2011-09-26 12:51:19 PM
www.10moneymakingprograms.com

This guy agrees.


/well, at least he used to until he declared bankruptcy
 
2011-09-26 12:51:23 PM
We had a plan for her to be able to stay at home once we had children. We weren't exactly sure when this would happen (this is for The Man Upstairs to decide)

Is "The Man Upstairs" his penis?
 
2011-09-26 12:51:24 PM
I'll address the elephant in the room - Why would you choose to live on $40k/yr?
 
2011-09-26 12:51:25 PM
I live ok for a lil over 30k but then again I dont have a wife or kids so Im good. Just wish my roomate would cough up the rent
 
2011-09-26 12:51:39 PM
40K? Hold up there, uncle moneybags.
The second I hit 35K I felt like the richest man in the world.
/Like alone with the person to whom I am mated, total bills about 1K per month apiece. Eat Ramen noodles, drink Narragansett beer.
 
2011-09-26 12:51:40 PM

FarkinHostile: The secret to living well on $40,000/yr?

Stay drunk.


And buy your liquor from the store, not at the bar.
 
2011-09-26 12:52:07 PM
I lived okay enough on $24k a year, so I am really getting a kick out of some of these replies.

/And this was despite my crappy car needing like $100 of repairs every other month
 
2011-09-26 12:52:14 PM

sweetmelissa31: We had a plan for her to be able to stay at home once we had children. We weren't exactly sure when this would happen (this is for The Man Upstairs to decide)

Is "The Man Upstairs" his penis?


Sounds like his wife had a thing with the tenant above them.
 
2011-09-26 12:52:26 PM

groppet: I live ok for a lil over 30k but then again I dont have a wife or kids so Im good. Just wish my roomate would cough up the rent


The latter negates the former.
 
2011-09-26 12:52:44 PM

Arkanaut: FarkinHostile: The secret to living well on $40,000/yr?

Stay drunk.

And buy your liquor from the store, not at the bar.



And make your own wine.
 
2011-09-26 12:55:16 PM

Tax Boy: The secret to living well on $40,000/yr?

Live in some crappy and cheap town in the Midwest or South.


I'll second that. But I enjoy it more than I did in the city.
 
2011-09-26 12:55:18 PM

probesport: I'll address the elephant in the room - Why would you choose to live on $40k/yr?


Many people have little choice in the matter.
 
2011-09-26 12:56:16 PM
According to a Googling $40k is £25k, and since I live in London and used to happily be able to live on less I'm going to go ahead and say $40k is easy to live on, even if you're profligate like me, and throw money around like nobodies business in a cunning plan to make yourself look richer. Especially if you don't live in a big city.
 
2011-09-26 12:56:22 PM
If you mean $40k/year where cost of living is extremely high then I could see the accomplishment. Otherwise the other 90% of the country is scratching their heads wondering what the big deal about that is. It's way above poverty on a national level.
 
2011-09-26 12:56:50 PM

jst3p: probesport: I'll address the elephant in the room - Why would you choose to live on $40k/yr?

Many people have little choice in the matter.


Naturally, the disabled and the elderly aside. What would be holding them back?
 
2011-09-26 12:57:57 PM

sweetmelissa31: (this is for The Man Upstairs to decide)


Is he "The Man downstairs" for people in Australia? And why does the creator of the universe need male sexual organs in the first place?
 
2011-09-26 12:59:49 PM
shiat, I'm living ghetto fabulous on 24K. 40K?

I'm riatch biatch.


No wonder Mitt Romney thinks he's middle class. That mofo has no farkin idea.
 
2011-09-26 01:00:22 PM

probesport: jst3p: probesport: I'll address the elephant in the room - Why would you choose to live on $40k/yr?

Many people have little choice in the matter.

Naturally, the disabled and the elderly aside. What would be holding them back?


EPIC TROLL
 
2011-09-26 01:00:31 PM

probesport: jst3p: probesport: I'll address the elephant in the room - Why would you choose to live on $40k/yr?

Many people have little choice in the matter.

Naturally, the disabled and the elderly aside. What would be holding them back?


How about not obsessing over material things and choosing a profession that you find fulfilling, but doesn't bring in a buttload of cash? And like SuperDuper28 said, most of the country lives on that or less. In many places you can live quite comfortably on that.
 
2011-09-26 01:01:39 PM

probesport: jst3p: probesport: I'll address the elephant in the room - Why would you choose to live on $40k/yr?

Many people have little choice in the matter.

Naturally, the disabled and the elderly aside. What would be holding them back?


Lack of intelligence is rampant and no matter how good your work ethic if you are slow you are going to hit a ceiling.
 
2011-09-26 01:02:11 PM
i think i barley made like 23,000 last year , and im more than happy with my life ,

40k i would feel like mr moneybags.
 
2011-09-26 01:03:52 PM
Next on Beast TV: Lifestyles of the poor and sensible.

We locked Robin Leach in a closet and deprived him of food for three days in order to get him to host this show. In this episode, he interviews a teacher who raises children on $40,000 a year; a working couple who get by in suburbia on a mere $100,000 between them and a lawyer turned Congressman who makes $400,000 a year, yet manages to spend no more than $350,000, taxes included and completely paid on time. At the end of the show, we allow Robin to have a hot meal and five minute shower.
 
2011-09-26 01:04:26 PM
Where does this fellow live? It sure as shiat ain't San Francisco. It's hard to live on a five-figure salary around here, period. Of course, I enjoy things like wine and travel and organic meat and not having roommates I'm not sleeping with.
 
2011-09-26 01:04:40 PM
Isn't the Federal Poverty line like 20k for a two-income family of four?

40k a year will stretch you really far if you're single or married to someone who also works.

I mean, I'm still in College, and I make about 11k a year from my parttime job. I live really comfortably with no parental coddling. I have a roomate, I have a NICE large apartment with private parking, in a nice part of town - fenced backyard, washer/dryer/dishwasher/stainless steel appliances. I have two computers, my own car (paid off completely, 2006 Mistubishi Lancer). I have new furniture, matching sets, 48'' HDTV, PS3, musical instruments, etc..
I still have plenty of money left over to go out on a nice dates, or bars on weekends.

I think that's a really comfortable life, especially considering what I make from part-time employment.


Do you want to know the secret to having money?
1) Cut your Cable/Satellite TV. Cut it out. You don't watch it. Get Hulu Plus or Netflix if you must.
2) Stop smoking. Cigarettes are a BURDEN to your wallet. The amount of money some people spend on cigarettes in a month is more than I spend on FOOD.
3) Cook your own food on weekdays. Go out on weekends.
4) Walk or bike anywhere within a mile of your home. If its further, then drive.
5) Do a family-plan for your phone bill. Share it with your roomate, your sister, whatever, doesn't matter. Bulk savings.

That's really it.
You'd be surprised how easy it is to break these rules...
 
2011-09-26 01:04:46 PM
Reminds me, in Chicago they keep having that Bill Rancic guy on the radio, the guy who won the first "The Apprentice" with Donald trump. He married some E! reporter girl a few years ago and after like 2 years of marriage they published a book on the secrets to a good happy marriage. Who the hell buys that shiat? The secret to marriage as told by some dude who just got married?

Then he wrote a book on being successful in business. What was it, a single page entitled "Win The Apprentice with Donald Trump?" Ridiculous.
 
2011-09-26 01:05:14 PM

probesport

jst3p: probesport: I'll address the elephant in the room - Why would you choose to live on $40k/yr?

Many people have little choice in the matter.

Naturally, the disabled and the elderly aside. What would be holding them back?


they are stupid and lazy with broken bootstraps, obviously.
 
2011-09-26 01:06:32 PM

Tax Boy: The secret to living well on $40,000/yr?

Live in some crappy and cheap town in the Midwest or South.


You say that like it's a bad thing.

A bad, demoralizing, depressing, soul-sucking thing.

/sigh
//life giveth, life taketh away
 
2011-09-26 01:07:08 PM

FarkinHostile: The secret to living well on $40,000/yr?

Stay drunk.


I could waste away in Margaritaville happily on that.
 
2011-09-26 01:09:11 PM
Live somewhere cheap, like Texas, and don't have kids/be single. I did it for like, 2 years. Wasn't that hard, really.
 
2011-09-26 01:10:59 PM

jst3p: probesport: jst3p: probesport: I'll address the elephant in the room - Why would you choose to live on $40k/yr?

Many people have little choice in the matter.

Naturally, the disabled and the elderly aside. What would be holding them back?

Lack of intelligence is rampant and no matter how good your work ethic if you are slow you are going to hit a ceiling.


You sure you really want to link intelligence with income?

Am I biting hard into your "bait" here?
 
2011-09-26 01:11:00 PM

Tax Boy: The secret to living well on $40,000/yr?

Live in some crappy and cheap town in the Midwest or South.


edited for redundancy
 
2011-09-26 01:11:03 PM
$40k a year is $28k after taxes. You're better off collecting cans and hitting up the food banks.
 
2011-09-26 01:12:05 PM
I am constantly amazed at how much money it takes to live our decidedly and purposely non-extravagant lifestyle. We don't go out to eat very much, take in the occasional movie, rarely buy new clothes or furniture (we have what we need), and don't try to keep up with the Joneses at all (don't even have a flat screen TV - yet).

We do spend a lot on insurance - house, car, life, health, dental. But these are not out of the ordinary. We avoid junk food, but spend a little more on higher quality items, nothing excessive, though.

//Paying for college for one kid, but that's been the case for only a year, and a lot of that was saved money.
/Spend less money when I don't leave the house... (:
 
2011-09-26 01:12:10 PM

jst3p: groppet: I live ok for a lil over 30k but then again I dont have a wife or kids so Im good. Just wish my roomate would cough up the rent

The latter negates the former.


Does it?
 
2011-09-26 01:12:31 PM
I've always said a person can live VERY well on 30-40k if they simply have next to no debt. If you can, buy a used for cash. You'd be surprised at the quality used cars you can get for under 10k that you can throw miles at and still have a respectable ride. Use credit cards as a strategic tool to build credit and for dire emergencies only. Like the above poster stated, cut the cord and go with internet only instead of pay channels. Eat at home more, if you must drink out, try happy hours instead, find some local dive bars for the week and keep fancy-schmancy places for the weekend.

Additional savings methods: use only singles instead of 5's or 10's at the strip club. Us the rhythm method or put it in her pooper to save money on condoms. Also, stay away from the brown acid as it can lead to additional hospital bills.
 
2011-09-26 01:12:37 PM
I make about 35, and still bank about a grand a month. Have payments on a nice but not fancy truck, live in a nice safe place, and go out drinking at the bar most everyday. Plus coeds walking around in shorty shorts all day, I can't complain.
 
2011-09-26 01:12:41 PM

Bunnyhat: The secret?

Don't have kids.
Stay single.


Until my wife's able to land a job, we'll have to make do on $21K a year. I told her right off the bat, I'll take care of the necessities, and there's no 'fun money' until she gets a job (FSM knows she's trying).

If she does find a job, then she can get all the movie-dates and toosh-tissue she wants.

/seriously, you will spend 4x more on TP as a couple than as a bachelor
//and no haz babby, Praize the Jeebus
 
2011-09-26 01:12:44 PM
How to live well on $40,000 a year.

Easy steps

Be single.
No children.
No car.
No mortgage.


Harder steps

Eat sensibly, cheaply and well.
Exercise.
Live within your means.
No vacations (except perhaps to visit family or friends).
No big luxuries.
Pay off your credit card statements before the due date--always.
Save.
Invest.

The Hardest Steps

Never stop learning.
Make your own entertainment.
Do your own house work.
Do your own repairs and maintenance.
Do everything you can for yourself except for things you can't do well enough, which should be left to professionals.
Work hard, well and smart.

Vital Final Step

Die suddenly before old age, poverty, and disease catch up with you. (If you are super-lucky, you might make it to over 100 and have your photo in the news explaining these rules to the grandchildren of your wealthy peers.
 
2011-09-26 01:13:01 PM

Bunnyhat: The secret?

Don't have kids.


Christian conservatives froth at the mouth when people say this. Then they turn around, vote for some asshole that puts in place policies that essentially require people to not have kids in order to thrive.
 
2011-09-26 01:13:04 PM
WTF is "living well"?

I don't quite make $40k, I manage to put 10% in savings, and I have little to no debt besides my mortgage.

But my *only* luxury is food and drink. I don't have a nice house, I don't have a nice car (reliability is questionable) I don't have nice clothes, I don't get to go on vacations where I actually leave the state, much less the country. And I don't have any great hope of being able to achieve any of these things. That, I think, is the painful part, knowing that even if I get far more frugal with my chosen luxuries it would not make enough of a difference to afford me any of those "shiny things" that we don't *need* but are nice to have.

Clearly part of this problem is that I want them, and if I did not choose to want fancier possessions I would be far more contented with my current position. Also clear is that one can say I am doing far better than *most* of the people in the world. This is true, I have food and shelter and a means of keeping them. Unfortunately my peers are not "the rest of the world" they are friends, family, neighbors etc. that I see on a daily basis. We shouldn't compare ourselves to one another but we do. And the marketing machine exists solely to make us want and buy more.

Nobody want to live within their means they want their means to be greater than their wants.
 
2011-09-26 01:13:33 PM
If you live in New Jersey or New York, you can barely support yourself on 40K per year, let alone a family.
 
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