The Secret to Living Well on $40,000 a Year

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Very good advice from a wise and thoughtful man.
I know his advice works in real life because my wife and I lived like that for well over thirty years. We raised two sons and put both of them through college on not much more than $40,000 a year.

Buster Knott of OK 9:41AM March 19, 2013

This article: funny stuff. Thanks for the chuckles.
(goes back to living in the real world)

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A Better Life With Ambit of TX 10:26AM December 12, 2012

Cheryl, Don't ask us. Sit down with your husband. List all your monthly expenses then subtract them from your husband's TAKE HOME (after taxes, social security etc. are removed) pay. That is the amount that is left for all 4 of you.
Make sure you have a 1 year emergency fund to cover expenses. If so, then whatever amount is left over from your husband's check will determine if you have $200 /month to use on the 3 of you.
If you don't have it, then either he needs to get a raise or he and/or you needs to get another job.

confidential of CT 10:36PM November 30, 2012

Hi Nunu, Saw this article, maybe if you read it we can save more ...

Nusrat chaudhry of CA 8:47PM November 29, 2012

This is extermely hard to do on Long Island,NY. With state, and local income taxes and a 6 thousand per year school tax on a 1500 sq foot house (some people pay more) . The 6 grand per year go to pay school teachers 80 thousand per year or more before benefits are added in.

Al P of NY 7:06AM November 14, 2012

Does this wife get an allowance? My husband makes the same amount yearly, but I have never had cash
available for my clothing needs, house needs, nor money for our two girls-clothewise, make-up, little
extras, etc.,,,,,. my husband makes $1270.00 every two weeks. Is $100.00 every pay day too much to
ask? That would be $2oo a month for three females,
their needs, and small house needs, not per person.
I homeschool and do not work outside of the home
Please answer at the below e-mail address

Cheryl--SC of SC 11:53PM November 09, 2012

Ok I'm sorry but I think this was just a plug to sell the book. I think the way he taught his daughter about money was a good tip ( way to many people don't) but the article was supposed to be on how to live on 40k a year not how to teach your kids about money. The only tip I saw was think before you buy DUH.

Rick of CA 8:26AM October 05, 2012

I totally agree on this financial scheme. My husband and I have always lived within our means and lived on under $40,000.00 a year. We own our
own home and both are retired at 62 yrs old. I do not feel that we missing anything. I find it rather
frustating listening to my friends and family members (who make way more than we ever did) crying the blues about being in debt and never having any money!! I was taught to live within my
means by my Father. While my husbands family did
not follow this route, thankfully he adapted to this way of thinking. Believe me, it can be done and still enjoy life!

Ribgabby 3:28PM October 02, 2012

Great idea teaching your kid finances. You had the Give Away, Savings and Spending right ... but you forgot the great IRS. Give her a dollar and immediately take 27-cents back for taxes. Get 'em used to it fast!

bill of GA 4:18PM September 11, 2012