I recently saw an article about poverty levels in the US for 2022. I was slightly amazed. The dollar figures are low, but I then got to figuring, and I live on less.
Please know, I am in no way being disrespectful of people living in poverty. There are many who do and have a very rough time. I hate that for them.
I lived life with a purpose and still do. My purpose was to have a good quality lifestyle and to be able to do good for others, as well.
POVERTY LEVELS - lower 48 and DC
1 - 13,590
2 - 18,310
3 - 23,030
4 - 27,750
Alaska has a slightly higher monetary amount and Hawaii is a bit higher yet.
I live on an amount that is below the level for one. I live a very good life. I want for nothing. I have all I need.
Years ago, we purchased a smaller and older home (1947) that we paid $29,000 for. It is about 900 sq. ft. and we do have a basement. There is also a detached garage and a decent size back yard - the front yard is tiny. This was purchased in 1985 (right before we married) and I still reside here.
My property taxes are almost non-existent. I joke each year, that soon they will pay me to live here! Actually, this year they did go up a tiny bit.
We bought a brand-new vehicle in 2001 (a 2002) and I am still driving it. It has about 67,000 miles on it. Still looks nice.
I am NOT a shopper. I very seldom purchase things for myself. I keep thinking about new furniture (and I will), but it is not that wildly important obviously. I am not a clothes hog! I spend money on groceries and on my pets and nature. I buy gifts for others. I donate to certain causes. That is about it.
I have utilities payments, a supplemental insurance plan and a life insurance/investment I pay each month. I pay vehicle insurance and property taxes every 6 months. Both are minimal. Basically, I spend less than $800 a month on everything other than groceries. Even with groceries, I believe I live on less than the chart shows for one. Not because I have to, but because I chose to. Sure, some months may be a bit more, depending on gifts and donations (but still quite low compared to most people),
We both saved as much as we could for the future. We knew there was a possibility that hubs would not be able to work at some point. We CHOSE to live a smaller less expensive lifestyle.
I always donated to 401K (max). One place I worked for a longer period had an ESOP plan (employee stock ownership plan). Glen had donations made and added to them in PERF (public employee retirement plan). We always tried to save at least 10% -15% of our income. We invested here and there.
We worked out bums off to pay off the house and the car.
Actually, we had older vehicles (that cost little) until the house was paid off. We made a pact - if the house ever got paid off - we would purchase a brand-new vehicle! Neither of us had ever had one.
Well, that is what we did.
The Blazer cost MORE than the house did! I about had a cow - and swore I was going to sleep in it!! LOL!
We were huge yard sale fans. We hardly ever bought anything new or for full price. G was on board, and loved finding tools and gadgets for next to nothing. He worked for the city garage, and they often brought back things that people had put out in the trash. Being a mechanic, G could fix anything. I used our first lawn mower for over 22 years (it was old when we got it). Since then, I have had to purchase 2 - as nothing is made the same today. Our tiller cost nothing - I still use it.
Oh sure he had tons of expensive tools he purchased for his job, and a huge tool chest to hold them. He paid for those over time and had a payment plan worked out with the tool guy. (That chest and those tools are here).
We were very mindful of our spending - yet we always had a good time. We camped with friends, and we wondered the roads of IN and saw and experienced a lot of things. We still had fun! We would get together with friends for dinners and cookouts or just for patio sitting and having a cocktail and conversation. We never felt deprived.
I still do NOT feel deprived. I live very simply. I really do have a LOT - and I am trying to rid myself of much of it. I mean how much does one person need?
I have all I NEED! I am very fortunate.
Again, I am not saying this in any way to make light of people living below the poverty level. It is a serious problem. I am no way trying to be disrespectful.
I /we were able to make choices in life to live the way we did. Those choices allowed for a good life and a safety net of funds. It meant living differently than many we knew - but we were happy with our decisions. It meant being able to survive on one salary of necessary.
Today I chose to live on less (even with inflation). It enables me to be able to help others when I feel the need. It enables me to have no stress on bills and needs. It enables me to not panic in the midst of an emergency.
I tell this story to maybe help someone younger make different choices. Maybe they can see that living life with a purpose in mind, can be beneficial for the future. It is meant to show that PLANNING and PURPOSE can maybe be better than living large in the moment.
Maybe it will help someone.
What mindful choices helped shape your current situation?