Yup, this is my question today, after summing up our income for the month of July (money that we’ll actually get at the end of August, so that’s when the “fun” begins). A total revenue of just $1,567 to be precise which
should has to be enough for a family of two with a newborn. And if you think that newborns are cute and they don’t cost much… well, you’re wrong!
So, after selling my site that was our main source of income, my earnings have dropped drastically (which was totally expected, by the way). Wifey has just given birth to our child and 60 days have to pass until she starts receiving benefits, so we’re on a single person’s wage (plus a small bonus from some side hustles that I made my wife start a few months before getting pregnant).
But… can we make it on $1,500 per month?
Honestly, before answering this question, I must say that I really hope that revenue will start to go up once I build other online businesses to replace the mammoth I sold. But until then, we have at least one month to make it on $1,500.
Fortunately, in our case, living in Romania is CHEAP. For example, in May, when we went $300 over budget, we spent close to $1,400. That’s encouraging, even though we now have a little guy to care for and based on our initial estimates, we would be spending about $150 per month with him. So… that would mean that we would actually end up saving $17, yay!
So I am sure that our family will be able to live on $1,500 for a few months (hopefully we won’t have to do this too long) but that is mostly because we have no debts to pay and we are living in Romania, a cheap country.
What do you say though? If you were to only have $1,500 per month as a family, would it be possible to make it happen?
[Image credit: Phoney Nickle]