Dollar breakdown

I know this isn't the best graphic. I will work on getting a better one. However, for the time being, this gets my point across. It is not about how much you make - it is about how much you spend! While that is true, you should be making more than the poverty line, if not it is time to improve your skills or consider a new profession for better pay. (No real dollars were harmed during the taking of this photo.)

FAQ

Why are we trying to live at the poverty line?
It all started when we got married. We decided to both quit our jobs and take as long as necessary to find the "right" job for Scott that was a good fit for our family. We also wanted to move a little way away from our home town to establish our own family. We thought it would be fun to see how little we could actually "live" on.

What is "the poverty line"?
According to national standards, for 1 person it is $10,400. For each additional person you add $3,600. So in our current situation (4 people, almost 5), we live between $21,200 and $24,800.

You're so young, why don't you live a little?
We like a quote by Dave Ramsey, "Live like no one else so later you can live like no one else" and "Freedom baby". It is a great feeling to know that we don't owe anyone anything and that if Scott were suddenly out of a job we would be alright.

Budget Percentages

These are good starting numbers:

Charitable gifts 10-15%
Tithing, offerings, etc.
Saving 5-10%
We have made it a minimum to save at least as much as we give
Housing 25-35%
Your home, repairs, insurance, furniture
Utilities 5-10%
Electricity, water, telephone, etc.
Food 5-15%
Groceries and eating out
Transportation 10-15%
Car, gasoline, repairs, insurance, maintenance
Clothing 2-7%
Our clothing is included in "Personal"
Medical/Health 5-10%
Insurance (health, life), co-pays, medications, bills
Personal 5-10%
Make up, razors, shampoo
Recreation 5-10%
Vacations, movies, etc.