donnafreedman
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Post by donnafreedman on Sept 4, 2014 13:41:00 GMT -5
Some of you may recall my first-ever post for MSN Money, a freelance piece called "Surviving (and thriving) on $12,000 a year." That's what started the whole ball rolling over there: The piece got so many reactions that they asked for another, and then another, and another, and ultimately hired me to write the Smart Spending blog. As you may or may not know, MSN Money fired all its writers -- even Liz Weston! -- on Sept. 11, 2013. (Could they have chosen a better date, maybe?) Since then I have chosen not to earn at the same income level and have been much happier. Over at Get Rich Slowly I have posted an article on how this is working for me, and how it might work for others: www.getrichslowly.org/blog/2014/09/04/voluntarily-slashed-salary/Thoughts?
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❤ mollymouser ❤
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Post by ❤ mollymouser ❤ on Sept 4, 2014 13:59:38 GMT -5
I think that's a great update!
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Iggy aka IG
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Post by Iggy aka IG on Sept 4, 2014 14:38:59 GMT -5
donnafreedman, I will admit, several times a year I look up your original $12K a year article and read it with earnest. I do this either because it's the first thing I ever read by/about you, or maybe because I discovered it after the recession, during the time DH and my financial world came crashing down. Regardless, of the reasons why, thank you for doing what you do. You are an inspiration and full of ideas and tips. Now, off to read the sequel.
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Iggy aka IG
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Post by Iggy aka IG on Sept 4, 2014 15:14:56 GMT -5
Donna, I am so glad you wrote that article, and how candid you were about your finances, especially your income. Suddenly I feel a sense of calm about the fact I haven't replaced my 40% reduction in income since the Great Recession. It's going to be okay.
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haapai
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Post by haapai on Sept 4, 2014 16:29:58 GMT -5
This:
That said, let me be clear: Willful underemployment is not for everyone. I couldn’t do it myself if I had consumer debt, kids (or parents) who needed help, a mortgage or student loans. However, some of my cost-cutting tactics could help you trim your own budget. The money you save can be used to build an emergency fund, attack any consumer debt, do home or car repairs, or set aside money for retirement.
is my favorite part of the article.
You've always had a remarkable way of saying that what worked for you won't work for everyone. Not every PF writer has the same touch. So many other writers appear to assume (i.e. maybe their editors are partially to blame) that their readers are just like themselves and I can't get past that to find the value in what they have written.
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Jaguar
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Post by Jaguar on Sept 4, 2014 17:21:37 GMT -5
Awesome. Thank You very much
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donnafreedman
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Post by donnafreedman on Sept 4, 2014 19:51:30 GMT -5
Thanks for your comments. Glad to know it's connecting.
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Artemis Windsong
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Post by Artemis Windsong on Sept 4, 2014 20:18:06 GMT -5
Thanks. $36,000 a year would be a princely sum for me.
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busymom
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Post by busymom on Sept 4, 2014 21:25:52 GMT -5
Loved your article! I love to read articles on finance, but so many folks are "struggling" with 6-figure incomes, while so many of us are making a go of it with a lot less money. I wish a lot of the major publishers would get a clue to have writers tackle topics families that are REALLY struggling in meeting their needs, rather than simply living without their wants.
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marvholly
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Post by marvholly on Sept 5, 2014 6:04:15 GMT -5
I think I have been following you since around your first article. I read the GRS one this morning and I regularly read your blog. You might want to post your personal blog web addy.
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Shooby
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Post by Shooby on Sept 5, 2014 6:23:36 GMT -5
Great article and tips!
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donnafreedman
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Post by donnafreedman on Sept 5, 2014 11:24:45 GMT -5
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marvholly
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Post by marvholly on Sept 6, 2014 6:22:19 GMT -5
Donna You might want to post your blog addy 3-4 times/year. That way any new people can find you and learn from you.
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marvholly
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Post by marvholly on Sept 7, 2014 5:19:49 GMT -5
I can't even imagine, I know its done because my MIL lives on less then that. But she goes nowhere and buys nothing, just her basic bills which aren't much. She is perfectly happy that way, I could not be. But yes, it can be done. She actually saves money on her little bit of income. She gets $15600, but with taxes and insurance she lives on $12k or less. Her property taxes and house and car insurance eats up a lot. I get over 2x as much (as 12k) about 28k/year. However my property taxes, home & auto insurance eat nearly 11k/year now that my senior exemptin on property tax kicked in. I still am able to take a decent vacation every 2 years or so. I do attend a lot of FREE/CHEAP events my town, library and/or park district offer. This week it is a FREE concert at the library. Next week it is a recent movie at the library. Last full week of the month it is a FREE wine tasting at a local store. These are just the things I already have on my calendar.
I am trying to make plans to take a friend to lunch this week. I will be going out to dinner with another friend the end of the month or early Oct (we ALWAYS split the bill).
ETA: I even bought 3 pant outfits (2 winter, 1 summer) and a sundress in Aug - granted it was at Salvation Army BUT 2 of them were brand new. It was a better than usual month there for me.
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marvholly
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Post by marvholly on Sept 8, 2014 5:35:32 GMT -5
$11k for auto, car, and property taxes? I would be trying to do something about that.
We pay $2k property taxes, $700 for motorhome ins, $1200 for 2 cars, and $2k for insurance including an umbrella policy and for 2 trailers. I assume most of that is on your house. I think that is a ton of money on that income. I don't know how you do it. We wanted to make sure ours was not that high going into retirement. The motorhome ins will drop off later. pat Living in metro Chicago, even the burbs, EVERYTHING is higher than in rural areas. I did change my deductable and a few other things for my insurances this year and they are down a bit. I have EVERY discount I can get on my property taxes (senior, long time resident).
i KNOW it is my choice living here but my 2 kids and 5 grands are within a 1 hour or less drive so don't want to move to a LCOL area which would be a minimum of a 4 hr drive (would increase my auto insurance as I would be driving MUCH more).
I will put my insurance out for bid again next year. Tried this year but got a BAD agent who LIED to me on a low ball quote. Will NOT do business with that comapny. Had a friend suggest of another company & just checked online re: their reputation. It is all over the place. NOT comfortable w/that.
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Iggy aka IG
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Post by Iggy aka IG on Sept 8, 2014 10:26:26 GMT -5
$11k for auto, car, and property taxes? I would be trying to do something about that.
We pay $2k property taxes, $700 for motorhome ins, $1200 for 2 cars, and $2k for insurance including an umbrella policy and for 2 trailers. I assume most of that is on your house. I think that is a ton of money on that income. I don't know how you do it. We wanted to make sure ours was not that high going into retirement. The motorhome ins will drop off later. pat Living in metro Chicago, even the burbs, EVERYTHING is higher than in rural areas. I did change my deductable and a few other things for my insurances this year and they are down a bit. I have EVERY discount I can get on my property taxes (senior, long time resident).
i KNOW it is my choice living here but my 2 kids and 5 grands are within a 1 hour or less drive so don't want to move to a LCOL area which would be a minimum of a 4 hr drive (would increase my auto insurance as I would be driving MUCH more).
I will put my insurance out for bid again next year. Tried this year but got a BAD agent who LIED to me on a low ball quote. Will NOT do business with that comapny. Had a friend suggest of another company & just checked online re: their reputation. It is all over the place. NOT comfortable w/that.
Make sure you mention if you've taken a 55 and Alive (or other defensive) driving course. Most of our carriers offer an additional 5% discount for it.
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marvholly
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Post by marvholly on Sept 16, 2014 6:25:20 GMT -5
Read your recent article in Money Talks Newsletter this am.
You really should post here when you get published on other sites. I am sure many would check it out & increase the visits on site you write for.
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pepperdoo
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Post by pepperdoo on Sept 20, 2014 15:29:14 GMT -5
This is the sequel I've been waiting for You're doing splendidly Donna. This was what I needed to head of the Worry Spitit that's been tring to set up home here.
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MonicaLee5186
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Post by MonicaLee5186 on Sept 24, 2014 20:13:26 GMT -5
Donna, your original article is what got me interested in personal finance to begin with. Loved it then, love it now, and love the update. I'm sorry for your loss of income, but I know that while you were making "the big bucks" you were responsible with it and lived well within your means. You are a great example of rolling with the punches and making do with what you have. Thanks for posting the update!
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NancysSummerSip
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Post by NancysSummerSip on Sept 25, 2014 16:21:42 GMT -5
Sweet. Thanks for the update, Donna!
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marvholly
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Post by marvholly on Oct 1, 2014 5:53:02 GMT -5
Donna
Looks like MSN money fired all their staff writers again. No new articles have been posted this week. In fact, my bookmark for Smart Money-MSN Money now leads to an entirely different site.
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donnafreedman
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Post by donnafreedman on Oct 1, 2014 21:29:09 GMT -5
They don't have staff writers any longer -- no original content, just stuff from "partner" sites. But they're re-doing the site and I'm not sure that Smart Spending exists any longer.
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moon/Laura
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Post by moon/Laura on Oct 1, 2014 22:59:29 GMT -5
donnafreedman - you can also add your blog url to your signature, if you like.
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