Can you start a thread with budget tips on how you afford that? -- not being facetious I'm really curious. Do you own your home already and not have a mortgage?
I think living on a small budget is doable. And we absolutely would if we had to, but it certainly isn't how I would want to live. Especially long term.
We live on 60k comfortably with 5 people. We rent, public school. We own our car outright, no loans. We pay for everything in cash and can save around 10k a year if we knuckle down. Our kids have everything they need and heaps of what they want. I shop off ebay and buy heaps of stuff off the local buy and sell. We live within our means, we don't over extend ourselves with loans, new cars and credit cards. When you aren't paying back huge loans you can save it to pay upfront and not get hit with interest. Obviously when i return to work we'll have to get a mortgage but we will get something quite modest.
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