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Can a family of 7 live off $25,000 a year?

 
mamaofficer

Asked by mamaofficer at 6:50 AM on Feb. 25, 2010 in Money & Work

Level 31 (50,120 Credits)
This question is closed.
Answers (4)
  • We all do what we have to - but we are a family of 6 (#7 on the way) and I don't see how we could live on any less than what we have, which is double the 25K. It would mean a major lifestyle change for us and I may be able to do it, but I don't think I'd be very happy.
    missanc

    Answer by missanc at 8:11 AM on Feb. 25, 2010

  • Yes if you live within your means and buget your money right. Make sure the kids know they will get what they need, might not get what they want
    louise2

    Answer by louise2 at 7:31 AM on Feb. 25, 2010

  • It's possible. You must be very frugal. I'm assuming you have no debt.
    motherofhope98

    Answer by motherofhope98 at 7:40 AM on Feb. 25, 2010

  • Its hard! For two years my famil of just me, my husband and 2 children lived off 24,000 a year, we make just a little more than that now, and the little bit more HELPS ALOT! We did have to be frugal, no outstanding debt, no car paymants, just a cheap apt, car ins (the minimum unfortunately), phones (the cheapest service), food and gas in the car.
    LoganAndKennedy

    Answer by LoganAndKennedy at 8:15 AM on Feb. 25, 2010

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