The Ideal Budget

I wrote last post about possibly living on less than $500/month. I figured I could do it, but it wouldn’t be enough for hobbies and the food budget would be a little tight.

So, if spending less than $500/month is not enough for me to be happy with not working, what amount is? I think a passive income of about $1,500/month would do it.

The $1,500 would take away some of the limitations of the food budget and also provide $1,000/month to go towards my hobbies. Mostly that money would be spent refurbishing cars and motorcycles, building robots and computers, and automating all kinds of interesting tasks related to agriculture, aquaculture and the production of alternative fuels. – Stuff to keep me busy through the winters. I think, also, after a half decade or so of building these things I’ll start to get a little tired of it and that $1,000/month could be spread around into other expense categories such as travel, education and savings. There’s also the possibility that some of those projects could be sold to recoup some of the costs or make a profit.

I’m already at a passive monthly income of $600/month from my first rental property, so by adding just one more rental property, and getting a place for me to live at myself, I will be financially independent.

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