Could you live on $40 USD / day? (mining-related)

[Lost_in_the_HTTP]

I do in fact and have for over 10 years. My total annual income isn't much more than that, but my required monthly bills including utilities, insurance and groceries is far below. I typically spend (live on) less than $500/mo, sometimes a little more, sometimes less.

 

[VirtualLarry]

Local business shrugs as Mass. minimum wage peaks at $15 under 'grand bargain' (msn.com)

Too bad I'm disabled. Then again, if you read the article, it says that you need to make $28.75 /hr min. to be able to afford a place in the city.

I'm OK on my disability income, given my current housing, and the fact that my medical is paid for.

I felt that, if the mining income could have been more stable, that I perhaps could have gotten on my own two feet, but with ETH moving to PoS, ending mining for the vast majority of "casual miners" such as myself, that wasn't an option.

 

[Red Squirrel]

I do in fact and have for over 10 years. My total annual income isn't much more than that, but my required monthly bills including utilities, insurance and groceries is far below. I typically spend (live on) less than $500/mo, sometimes a little more, sometimes less.

That's about $16/day, how do you manage that, unless you're off grid? And even then there would still be some expenses like car insurance, gas, food, internet, etc.

On grid there's car insurance, gas for car, hydro, natural gas, internet, cell phone, groceries, rent/mortgage, property taxes, water/sewer etc.... It adds up fast and these all go up every year too.

I was curious and guestimating what my expenses would be off grid. Turns out there are a bit more than I realized, but basically I'd drop down to $52/day vs $103/day right now if I keep most things the same. Still need car insurance, groceries, gas for truck (which would go up due to distance from town as I'd still want to visit family etc), savings etc. There are some things I can eliminate though, like say I 100% grew my own stuff and raised chickens and such so never bought groceries, stopped donating money to charity/church, stopped putting money into savings, and got an EV, I would drop to $12/day but all that is a bit unrealistic and is also assuming I am growing all my own animal feed and everything. But that is basically the range that is doable, $12-$52 depending on what I sacrifice but going below is pretty much not an option.

Realistically though I do want to have extra money to save, buy toys etc so to be comfortable I'd probably still want to be making at least $2,000/mo ($67/day) or so before I decide to quit my job and move there. Once it's set up to the point I'll want to start thinking about what my source of income will be before I quit my job and sell the house. I have ideas in mind. I have to give props to people that can just outright quit their job and sell their house and go off grid, but I don't have the balls to do that without first having everything setup and a source of income.

 

[Lost_in_the_HTTP]

Rough averages, some annual costs vary:

Electric, $70
Water $25
DSL, $35
Cell, $10 (TracFone)
Propane, $70 (hard to figure , but under 400 gallons/year)
Car insurance $65/mo ($250 six months)
Home insurance $100/mo

Those come to around $375/month, give or take.

Groceries vary of course, but under $100 usually.

Gasoline? I fill a tank about every 3-4 months maybe. I drive very little.

House and both cars are paid for in full and have been for many years.

Full medical: no cost to me at present. .

Anything else is discretionary. Car and routine home repairs are unpredictable, so I try to keep a slush fund.

 

[mikeymikec]

I started saving for retirement later in life than I should have done, so that's a definite no from me!

 

[Red Squirrel]

Rough averages, some annual costs vary:

Electric, $70
Water $25
DSL, $35
Cell, $10 (TracFone)
Propane, $70 (hard to figure , but under 400 gallons/year)
Car insurance $65/mo ($250 six months)
Home insurance $100/mo

Those come to around $375/month, give or take.

Groceries vary of course, but under $100 usually.

Gasoline? I fill a tank about every 3-4 months maybe. I drive very little.

House and both cars are paid for in full and have been for many years.

Full medical: no cost to me at present. .

Anything else is discretionary. Car and routine home repairs are unpredictable, so I try to keep a slush fund.

Damn that's crazy cheap! You can mostly double all of those for here or even more.

 

[pete6032]

My gas bill was $300 last month. I live in a modest 1 story 1950s tract home and I heat to 69 during the day and 65 at night.

 

[pete6032]

Local business shrugs as Mass. minimum wage peaks at $15 under 'grand bargain' (msn.com)

Too bad I'm disabled. Then again, if you read the article, it says that you need to make $28.75 /hr min. to be able to afford a place in the city.

I'm OK on my disability income, given my current housing, and the fact that my medical is paid for.

I felt that, if the mining income could have been more stable, that I perhaps could have gotten on my own two feet, but with ETH moving to PoS, ending mining for the vast majority of "casual miners" such as myself, that wasn't an option.

Sorry for your situation. What is your disability?