The final “couple” in CNN Money’s series on the spending habits of households living on about $46,000 isn’t a couple at all. Susan Slingland is a full-time piano accompanist at Appalachian State University. Susan seems to have her expenses under control. At $675 a month, her rent is her biggest expense, and she keeps that low by opting for a more frugal living environment — a converted garage.
Unlike the other couples or families profiled by CNN, Susan’s expense for health care is only $50 a month for insurance. According to her pie chart, she spends less than $100 on food each month. She also manages to put away 9% of her salary into her 401(k) and a full 37% into savings. She’s not struggling on her median income.
Here are some factors that contribute to her success.
* She’s only one person, with no significant other or children.
* Her housing isn’t extravagant.
* Her housing is close to her job.
* The university proves inexpensive health insurance.
* She drives a practical and somewhat efficient car.
* Thanks to scholarships and assistanceships, she doesn’t have to deal with student loans.
Three degrees is a lot of schooling to be earning $46,000, but I’m willing to bet she gets a ton of satisfaction from her job. Susan mentions that she knows individuals with three degrees in music like herself, but they are struggling to find jobs. I would like to bet that many others are dealing with the stress of debt, as well. In comparison, things are working out well for Susan.
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I would LOVE to know how she manages to spend less than $100 per month on food. Having just altered my diet to a much healthier one, I have seen a significant increase in my grocery bill and I can say it is well over $100. What is her secret? Top Ramen?
Fellowes, I’d be able to eat alone on roughly $100/month, and my eating is very healthy. Of course, with a husband much larger than I, we spend more than that…
Yeah I was very impressed by her budget. The girl is frugal. Kudos to her, and doing what she loves.
$3/day is in theory possible if you live in urban areas w/ ethnic grocery stores and eat mostly vegetables. I could buy a week’s worth of veggies for about $1/day in Chinatown (San Francisco) — stalk of celery 79 cents, 3 bunches of watercress $1.20, spinach 39 cents, squash 50 cents, etc. Then that leaves $16 for meat or fish for the week which is much harder to do. Chicken drumsticks at Safeway for 79 cents/lb probably the cheapest way to go. Then augment with some fish fillets and cheap cuts of beef and pork from Chinatown butchers.
Pretty mind-numbing food variety though — I’d go crazy after a week.