Our frugal revolution – Life on $54/day
Our family has made the commitment to live frugally in the year ahead and to be concious of not only the money we spend, but of the resources we use.
This is a hearkening back to the time I spent backpacking. A backpacker is careful with his money, as he knows that the adventure will only last as long as his money holds out. She will sleep on trains and in train stations and skip meals and forego hot water if it isn’t free. He will find alternate ways of travelling and eating and lodging that doesn’t cost money. A backpacker knows what she values and spends her money on those items, saving where he perceives there to be no value.
As middle-class North Americans, I feel we no longer really have that sense of what we value. It is difficult amidst the noise of overspending to know what represents a true ‘want’, let alone a ‘need’.
So our adventure is to discover a life without the static of excessive spending – spending that so often covers up some other, more basic need.
The Challenge
To live on $54/day for 2010. In an attempt to maintain a degree of universality, this amount (less than $20,000 for the year) does not include housing costs (mortgage payments, property tax, water and sewage, heat and hydro) or costs associated with my business or my husband’s business. Nor will it include charitable donations, as we don’t want our charity to be limited by our spending.
The Goal
In order that we focus on abundance, rather than scarcity, our goal is a positive one (not just to ‘cut back’ or to ’sacrifice’). In 2010, by living frugally, we plan to save over $20,000, while working part time and still giving back to our community and the causes we care about.
The Spin offs
We believe that during this year of living frugally, we will not just find ourselves with greater financial abundance. We are bound to become more careful with the resources of our planet. We will likely develop much healthier eating habits. We will hopefully be much calmer and less stressed, as we shift our focus from spending money to spending time.
The Blog
As this year progresses, I will relate our trials and triumphs 3 times a week. Please feel free to bookmark this site and follow along. We welcome you to join the conversation and are open to comments and input.
The Request
If you are inspired by our adventure, we invite you to take one of the ‘challenges’ (under the tab of the same name) and use the money you’ve saved to pay down debt, put into an emergency fund or an investment account or make a donation to a cause you care about.
