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I spent $977.74 a Month

March 25th, 2007 at 09:11 pm

Iíve finally crunched My Challenge numbers. I spent an average of $977.74 on living expenses, after savings and taxes.

Hereís a recap of my income.


Hereís a concise summary of my spending.



Hereís the detail.


For some reason, all my current and prior images show as boxes wiht a little x, although if I click on them I see the image. A quick review of the forums hasn't helped me figure it out. If anyone has hints, let me know. Current and prior images are jpegs from my hard drive.

I spent $1592 a month in 2005. (I have already been saving a large portion of my income.) I wasnít on any Challenge in 2005, and the trips I went to Oaxaca, Poland and Belgium are included in the $1592 a month average.

I spent $978 a month on the Challenge. If I take off, as I should, the amount I spent on my trip to Europe (Croatia and Bosnia, Sept. 2006, $1810) I saved an additional $5558 for the year, for an average increase in savings per month of $463.

During My Challenge, I lived on less than half of my net income. That's just the numbers. Later, I'll post on what the Challenge really meant for me, as far as my lifestyle.

7 Responses to “I spent $977.74 a Month”

  1. financier76 Says:

    Hey this was a great challenge I love your idea of living on min wage and seeing how it works. Unfort. I cannot replicate due to child support...lol..but I love the idea. Great job!

  2. Broken Arrow Says:

    Great charts!

    It's also good to see that you don't have to cut out some little things like Netflix or internet to meet your challenge.

  3. robex Says:

    I thoroughly enjoyed reading about your challenge and always looked forward to your updates.

    I'm going to miss it! Do you want to go for another year?

    ...just kidding...you did awesome and should be very proud of yourself!

  4. Lau Says:

    I really don't think I could do it for a whole year. So many congratulations to you!!

  5. Dido Says:

    Congrats on finishing your challenge! That's amazing that you stuck to it for a whole year.

  6. financier76 Says:

    Hey so what was the total amount you saved during the minimum wage challenge? I posted a link to your blogs at my site about my own $20 challenge. Reading the posts here made me want to motivate other people to do the same. I love stuff like this.

    my url is 20challenge.blogspot.com

  7. Myself Says:

    Congratulations!!!

    We truly couldn't do it. The biggest reason is that we have a short term mortgage (15 years), wherein the monthly payment (not counting taxes/insurance) would be more than minimum wage. Minimum wage would only carry the house payments about 6 months for us. Frown We look at it as though we're buying our house to live in for the rest of our lives, so we're paying it down early. Next month, more than half the mortgage payment goes toward principle, and the rest to interest.

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