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There are too many unknowns here, starting with "what is already paid off?" $500/mo is doable if you are counting only living expenses bills (food and utilities basically). Start to factor in property costs (taxes and maintenance), transportation (even if the vehicle itself is paid off you still need licensing, maintenance and fuel for that), medical expenses (you get more of those the older you get), and any other incidentals and $500/mo gets real impossible real fast.

Now, if you had put a lot of money into the property and supporting infrastructure already you could tap into the equity on that to cover the difference. If you start with a premium and well built house you could probably go 20 or 30 years with minimal maintenance before that caught up with you and things get real expensive real fast. If you are not counting on lasting that long that could be a cost deferred to the next generation which grants you a significant short terms savings to stretch that $500/mo.

You can defer some utilities like this too, buy, for example, buying a robust, over built solar setup and then letting it burn out over a few decades. That could also run a well for water. But systems like that are not cheap, and they need to be fully paid off before you start on a strict budget or they will eat the entire budget with one single financing bill.

But there is only so much you can deffer like that, it is much harder to do that for a vehicle and impossible to do with taxes. The lowest effective property taxes I can find in OR are .7%, which means even if you can get your property taxes down to $25k (might be possible with a mobile home on a small property with a well and septic) still means almost $200 in property taxes a year, or ~$15ish a month. That is not a lot, but when you are only working with $500/mo that is a pretty decent chunk of your budget. If you go with a more realistic property value of ~$150k you are closer to $100/mo in taxes, or a full 1/5th of your total monthly expenditures. Vehicle costs are going to be pretty close to that too, at $1000ish a year or ~$100/mo, and that is for minimal driving.

That leaves precious little for anything else. I hope nothing ever goes wrong because there will be zero budget for contingencies.

Now I do know people who live on about ~$500 a month. But they only do so with a minimal living standard and a lot of government assistance (so not actually $500/mo, just $500/mo of their own income and much more than that in other peoples money). They live in a trailer park, on assisted rent and food stamps, with zero savings and no interested in getting out of abject poverty. I just do not see how you can make a budget like that work and still keep a decent standard of living and not winding up on all kinds of "assistance."
 
As far as being able to live off of $500/month, those days are long gone. Taxes, food, fuel, health and bourbon all cost good money now.

Living cheap is really about how comfortable you are with with being uncomfortable.
 
Grow some nice tits and youtube vlog about homesteading. Profit.

I mean it is 2024, can't see why a man of my age and slight blubberiness couldn't get some traction on Only Fans - I could try on socks or something equally salacious.

Couple extra dollars wouldn't hurt, certainly be useful in assisting with those pesky $3,750 Porsche oil changes :D
 
I mean it is 2024, can't see why a man of my age and slight blubberiness couldn't get some traction on Only Fans - I could try on socks or something equally salacious.

Couple extra dollars wouldn't hurt, certainly be useful in assisting with those pesky $3,750 Porsche oil changes :D
The money is in selling the socks after you try them on.
 
Water supply on the property seems to be a popular item on most people's list. I can tell you in the area where my property is, only a lucky few have that. Most rely on community well, dragging in water from town or have it delivered. I can get by without it and would rather spend the money elsewhere.

My list would include:

Property
Shelter
Car
Woodstove
Lighting for shelter
Bed + bedding
Easy access to firewood
Toilet
200watts of solar
Enough battery storage to run lighting for at least a week.
A solar powered DC freezer would be nice but not necessary.
Camp stove and at least a months worth of propane.
At least one shotgun, one AR15, one hunting rifle and one pistol plus ammo for each.
Basic cordless tool set
Yard tools
Chainsaw
Fuel cans
Toiletries and various soaps, towels, detergents.
Clothing
Basic furniture (chairs, table, couch)
Totes
Place that allows shooting on the property or within walking/biking distance.
Bicycle.
Small generator.
12v pure sinewave inverter/power supply
Cell phone with generous data plan.
Ice chest two or three.
Trailer for car and trailer for Bicycle.
Various handyman supplies.
Reloading supplies, components and gun maintenance equipment.
Water jugs, lots of water jugs.

I am sure there are a few more things I missed. Doesn't look very minimalist does it.
 
This is a good show about people buying minimalist properties in Alaska and the choices they make as far as cost vs comforts.


A well 5 miles away means you are going to have to have some way to get the water from the well to your homestead.

Do you ever want to take a shower?

Where are you going to defecate? Is an outhouse allowed on the property? Or are you going to have to get a porta-potty? If it is a honey pot someone with a sanitation truck is going to have to empty it.

What about electricity? On the grid? If off the grid what are you going to do for light when the sun goes down?

What are you going to do for heat? Most places you need a $permit$ to cut wood. A chainsaw needs $fuel$.

What are you going to do for food? A couple hundred a month for food doesn't buy you much.

Are you going to try to grow your own food? A garden? Are you going to be a vegetarian? A garden takes water. Hauling water 5 miles just to dump it on your garden takes work and fuel.

Are you going to hunt? How are you going to store your game so it doesn't spoil? Refrigeration takes electricity. A root cellar will preserve vegetables for many months but it won't be cold enough to store meat.

I recommend checking out a few episodes of "Buying Alaska" that I linked to above. It will give you some choices to consider.

How about internet? You will need electricity for internet. How will you tell us how you are fairing if you don't have an internet connection? You have made about 25,000 posts on this board alone. Are you going to give up internet?

Are you going to buy a property? How much does the property cost? What is the property tax? Even if you buy the property you are only really renting it from the government until you can not pay your property taxes. Or are you going to squat somewhere? I think most homeless probably get $500 a month in government assistance. At $500 a month it seems like you are going to live a life similar to a homeless person.
 
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This is a good show about people buying minimalist properties in Alaska and the choices they make as far as cost vs comforts.


A well 5 miles away means you are going to have to have some way to get the water from the well to your homestead.

Do you ever want to take a shower?

Where are you going to defecate? Is an outhouse allowed on the property? Or are you going to have to get a porta-potty? If it is a honey pot someone with a sanitation truck is going to have to empty it.

What about electricity? On the grid? If off the grid what are you going to do for light when the sun goes down?

What are you going to do for heat?

What are you going to do for food? A couple hundred a month for food doesn't buy you much.

Are you going to try to grow your own food? A garden? Are you going to be a vegetarian? A garden takes water. Hauling water 5 miles just to dump it on your garden takes work and fuel.
I think my Dad gave me that speech (or significant parts of it). :cool:
 
This is a good show about people buying minimalist properties in Alaska and the choices they make as far as cost vs comforts.


A well 5 miles away means you are going to have to have some way to get the water from the well to your homestead.

Do you ever want to take a shower?

Where are you going to defecate? Is an outhouse allowed on the property?

What about electricity? On the grid? If off the grid what are you going to do for light when the sun goes down?

What are you going to do for heat?

What are you going to do for food? A couple hundred a month for food doesn't buy you much.

Are you going to try to grow your own food? A garden? Are you going to be a vegetarian? A garden takes water. Hauling water 5 miles just to dump it on your garden takes work and fuel.
Speaking for myself. I have a septic system installed on the property and a full size tub with curtain surround, and a regular toilet in the cabin. I do not have running water. The toilet requires manual filling of tank before flushing. If I was living there full time I would find a second dry method for number 2s to save some water. The shower water is heated on a camp stove, wood stove or by the sun depending on weather and time of year. I utilize a rechargeable pump sprayer system for dispensing shower water.

Food would have to be mostly canned, boxed or some other shelf stable type.

Heat is solely provided by a wood stove.

I use my car to fetch water from community well. I pay $150 a year for access to the well.


Edit: I could gather up snow for water in the winter.


1000000648.jpg
 
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Speaking for myself. I have a septic system installed on the property and a full size tub with curtain surround, and a regular toilet in the cabin. I do not have running water. The toilet requires manual filling of tank before flushing. If I was living there full time I would find a second dry method for number 2s to save some water. The shower water is heated on a camp stove, wood stove or by the sun depending on weather and time of year. I utilize a rechargeable pump sprayer system for dispensing shower water.

Food would have to be mostly canned, boxed or some other shelf stable type.

Heat is solely provided by a wood stove.

I use my car to fetch water from community well. I pay $150 a year for access to the well.


Edit: I could gather up snow for water in the winter.


View attachment 1890215
Very cool cabin!

May I ask how old you are?
 

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