If there’s one area that seems to be making all the headlines and diverging into countless arguments and discussions, it’s the idea of living on £50 a week.
Political aspects aside, is this physically possible? Whether through poor income or other commitments, this is something that many people do actually face. There’s also a chance you could end up in such a position in the future, so there’s plenty of argument to look into the actual prospects of living on such a limited income.
With this in mind, here are a number of areas I’m sure may prove important, such as accommodation needs and general shopping, as well as more unique aspects, such as how I’m able to sell my stuff to generate extra cash above £50.
First and foremost, your accommodation is one of the biggest expenses in living. Rent and other utility charges all add up to quite a bit at the end of each month. Even with downgrading, you’re going to have to be careful.
Even if benefits and other services take care of a lot of this, it’s still not a perfect system. Budgeting and conservative use of gas, electricity and water are all recommended practices. This will highly depend on your individual scenario but is an area that will need lots of work if you want to make sure you can live off of £50 a week.
As for general living costs, you’re main concern is arguably shopping. You need to eat, so shopping for food (as well as other supplies) is a priority. This is an area that can always arguably be cut down. Whether it’s shopping at cheaper stores, choosing non brand goods or simply cutting back on excessive spending – doing a weekly shop for much less than £50 can be done. Of course, this is more difficult if you have extra mouths to feed.
Likewise, you should look at other areas, such as clothes, only when you need them. This is, primarily about learning to identify when something is a necessity, not a desire. When you have money, it’s very easy to argue any expense if you want it but it’s a different situation when living off of something as limiting as £50 a week.
Generating Extra Money
Finally, it might also help to find ways to generate extra money. Living off of £50 a week is no easy challenge but finding ways to get more cash where possible is something that will always help.
The chances are that you might have something in your home of some small value. There are plenty of unwanted and unused items in the average home that can be sold online for cash. This includes the likes of old mobile phones, CDs, DVDs, games, consoles and various other forms of gadgets and technology. Since these can be sold for a price, and you’re not using them, the argument is clear; sell these for extra money to help cover costs and expenses.
A blogger and writer on all things financial and living related, my name is Adam Jones. Throughout the years I’ve acquired plenty of helpful knowledge which I like to share, from how to sell my stuff for cash to how to make the most of bad financial situations.
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