Think you're thrifty? Want to bet?
A New Hampshire family may just be the savviest bunch of savers in America right now. The family of four is eking out an existence on just $1,500 a year.
Bourne and Heather (last name removed at the family's request) adventure officially started on January 1, but they've been working toward this since July 2008, when Heather says she started "diligently using coupons," to build up a stockpile of necessities (from non-perishable foodstuffs to toiletries). With one preschooler and one toddler in their house, they think they can make it through 2009 with just $1,500 spent on groceries, household times and even personal expenses like haircuts and their health insurance copays.
They've got a few rules for themselves - including a $0 dining out budget until their December wedding anniversary, and brutal honesty in reporting their money situation. That means even if they fail, they've promise to report it. They're also vying to have at least five $0 days per month, five days when they spend zilch on the above categories.
Impossible? Maybe - and even Heather and Bourne agree.
"My purpose in blogging is to raise people's awareness about their
own finances, make people think twice about how they spend their own
money and to share and learn a lot along the way. That is it," Heather says on the family blog, Living on 1,500 for One Year.
They are taking the criticisms in stride, but along with their
tips on saving money, commenters are dropping their own hints of how to
cut costs and keep a family going. If you're serious about saving, you
might already be doing most of them, but if you need a starting off
point, it's worth a look.
She frequently points out throughout her posts that it wouldn't be possible without the family's stockpile - which she estimates cost at least $1,200. It's also important to note that their $1,500 is just on the three categories of groceries, household items and personal expenses. They don't talk much on the family blog about the money spent on things like their home (rent or mortgage payments), their cars (if they have one - even if there's no loan to pay off, there is gas to buy, tires, etc.) and incidentals like home heating.
Some costs you just can't avoid - and some of the biggest costs you can't anticipate (health insurance copays could be nothing from month to month, until three pediatrician visits in a row eat up their monthly allowance). Do you think your family could find enough fat to trim it down this drastically? Are they being realistic?
UPDATE: The family has removed their blog becase of threats, and asked that their last name be removed as well.
Image/Source: Fox News
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