Thanks for the inspiration, Martin.

We live a very modest lifestyle due to the sacrifices necessitated by the priorities we’re chosen. The big ones are living on one income so my wife can stay home and sending the kids to Catholic school because we think our #1 purpose in life is to raise our children.

I’ve been scouring the budget lately and I seem to be out of things to cut. Going by the 80/20 rule, 80% of our income, in this order, goes to:

1. House
2. School
3. Groceries
4. Heating oil

Gas, even at today’s prices is a distant fifth place.

Now, what can I cut from this? Our home, menu and thermostat setting are all very much in keeping with our modest lifestyle. School is the only thing that could be considered extravagant and it would be the first to go in serious unemployment survival mode. We’re always questioning if we are doing the right thing there.

In the other 20%, there’s utilities, cell phones, landline, DSL, Netflix (no cable, so Netflix now w/ the instant viewing is a very good deal). I need to look into how much I could save by dropping the land line but keeping DSL. Subscriptions? HAHAHAHA… My lunch is usually a can of soup (target price <$2) and some Ramen noodles for filler. Our cars are 8 years old, bought with cash. No self respecting male in my family would ever call a mechanic, plumber, carpenter, electrician or any repairman.

Now, not included in this 100% is “incidentals” such as root canals, birthday presents, clothes, blow money, and all other irregular and often unpredictable spending. I’m really struggling on how to account for this stuff right now.

Any ideas?