Live Below The Line Challenge: $1.50/Day Menu Pictures, Cooking Tips, and Taste Test

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I’m now nearly halfway through the Live Below the Line challenge, and here are some pictures and additional cooking/eating commentary about my $1.50 a day menu. Please also refer back to my menu and ingredient list and my nutritional information breakdown.

Breakfast

These banana crepes/pancakes are pretty big at nearly 8 inches in diameter. At 300 calories each, each one has about the same calories, fat, and (update: half the) protein as an Egg McMuffin at McDonald’s but at only 10 cents each they are less than 5% the price and have no added flavors or preservatives. If I added another egg, it’d be 15 cents each and the protein would be equal. (It’d be even better if I used whole grain flour.)

I have to prepare them from scratch daily, but I timed myself and cooking time including prep was only 15 minutes. I know that may still be too much time for some folks, but waiting in a busy drive-thru line can take 5-10 minutes on its own. I simply whisk .75 cup flour, an egg, 1 cup water, and a little salt together to make a thin batter. Then add one sliced banana. While frying the second pancake, I clean up my mixing bowl, whisk, and measuring cups. When done eating, I simply wash my single plate and rinse/wash the nonstick frying pan.

They actually taste good; I would eat them on any given weekend. I don’t really miss the milk found in the original recipe. I do wish I could alternate between apples and bananas, but apples cost too much for this challenge. For a bit more money, the variety would be nice.

Lunch

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What are the Cheapest Vegetables Per Pound?

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While doing research about getting the most nutrition for my dollar, I ran across an interesting report from the U.S. Department of Agriculture called How Much Do Fruits and Vegetables Cost? [pdf]. The overall goal of the study was to better understand why Americans don’t eat the recommended amount of fruits and vegetables. Here are some neat charts of vegetables ranked by price per pound, as well as ranked by cost per edible cup equivalent:

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My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Live Below The Line Challenge: Sample $1.50/Day Menu Nutritional Information

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I’m taking the Live Below the Line challenge this week, which means eating for 5 days on just $1.50 a day. I plugged all the ingredients from my $1.50 per day Sample Menu into the food diary at MyFitnessPal.com, and below is a screenshot of my breakdown of total daily calories as well as grams of fat, protein, and carbs.

As you can see, I won’t exactly be starving. The “daily goal” is based on my height, weight, age and my stated desire to lose one pound per week. The total calories in my BelowTheLine daily intake are around 2,000, which a bit low for a male of my size, but may be too high for someone else. I’m actually too high in carbs, a little short on protein, and even shorter on fat. To compensate, I may add a little extra canola oil to my food with the 8 cents left in my budget. Most of my food is cooked and ready to go (pictures coming). Is it weird that my only wish right now is that I could drizzle on extra virgin olive oil instead?

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Live Below The Line Challenge: Sample $1.50/Day Menu

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

I’m taking the Live Below the Line challenge, which means eating for 5 days on just $1.50 a day. After a shopping trip and a few cooking experiments, here’s my menu for next week (4/29-5/3).

Rules

Even though the challenge rules allow it, I won’t be using anything that is significantly processed. That means no ramen noodles, protein powder, multivitamins, etc. Also, when calculating the cost of the ingredients, I will use the unit costs based on common supermarket sizes, not wholesale or warehouse store sizes. Examples are 5 lb bag of rice, a Morton can of salt, and a 28 oz. bottle of oil. I cross-checked all my listed prices with the USDA database to make sure they were reasonable.

Update: I misread the rules and have made some changes in order to avoid buying things like a 10 lb bags of beans, even though in reality that would be the most economical. Instead, I had to find the places that had the cheapest bulk bins. Some prices went up, but some prices actually went down. I had to leave out the onion from dinner, but otherwise the menu stayed the same and under budget.

The Menu

I wanted to make things simple, so I just planned to have the same meal for all five days. Breakfast is pretty quick and will be made each day. Lunch and dinner will be prepared on Sunday night and be reheated for the rest of the week.

Breakfast

  • Banana “crepe” pancakes
  • Ingredients per day are: 0.75 cup flour, 1 egg, 1 banana, 1 tbsp oil, and a pinch of salt. Basically mix everything together with ~0.75 cup water to make thin batter, and fry. This makes two large pancakes (see picture) and my first attempt was pretty tasty. The riper the bananas, the sweeter. Total cost of 5 meals: $1.88

Lunch

  • Lentil soup with 2 large chapatis (flat bread).
  • Soup ingredients for all 5 days are 2 cups dry lentils, 4 carrots, 2 onions, 4 cloves garlic, 1 tbsp oil, and 3 tsp salt. 10 large chipatas (2 per day) are 3 cups flour, boiling water, and 1/4 cup oil. I haven’t made the soup yet, but I fried up some chapatis and they were a nice bread/tortilla replacement. Total cost of 5 meals: $2.03 + $0.44 = $2.43

Dinner

  • Plate of rice, beans, and tomatos.
  • Ingredients for all 5 days are 2 cups uncooked rice, 2 cups dry pinto beans, 1 can crushed tomatoes, 2 tbsp oil, and salt. Pile o’ cooked rice, pile ‘o cooked beans, pile o’ canned tomatoes and diced fresh onions. I actually used to eat this anyway when in “bachelor mode”, except with canned beans and bottled salsa. Total cost of 5 meals: $3.11

Total cost for the week: $7.42

Shopping List

Here are all the ingredients that I will be using, broken down into the price of the overall package and the unit cost.
 
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My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

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What Does 200 Calories Cost? A Visual Guide (Economics of Obesity)

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WiseGeek has an interesting article on What Does 200 Calories Look Like?, where it photographs the portions of several foods that equal 200 calories and sorts them by weight. Here’s broccoli next to peanut butter on the same plate:

200 Calories Of Broccoli and Peanut Butter: WiseGeek.com

I thought it would be neat to extend this idea and see what 200 calories costs. So I extended my usual grocery trip by finding out the price per weight for each of the food items they selected. The results are below, grouped by price per 200 calories. Image credits go to WiseGeek.com. Please go there for the full versions, these are just thumbnails for reference.

Cost of 200 Calories: Less than 50 cents
image credit: wisegeek.com
Canola Oil
$0.07
image credit: wisegeek.com
Wheat flour
$0.07
image credit: wisegeek.com
Brown Sugar
$0.10
image credit: wisegeek.com
Peanut Butter
$0.17
image credit: wisegeek.com
Cornmeal
$0.20
image credit: wisegeek.com
Uncooked Pasta
$0.21
image credit: wisegeek.com
Glazed Donut
$0.23
image credit: wisegeek.com
Butter
$0.24
image credit: wisegeek.com
Salted Pretzels
$0.24
image credit: wisegeek.com
Wheat Dinner Rolls
$0.23
image credit: wisegeek.com
French Sandwich Roll
$0.24
image credit: wisegeek.com
Smarties Candy
$0.24

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My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Live Below The Line Challenge $1.50/day – What to Eat?

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I recently learned about Live Below The Line, an annual anti-poverty campaign which challenges people to feed themselves on the equivalent of the extreme poverty line for five days. According to the World Bank, that works out to spending less than US$7.50 total ($1.50 per day). I’ve accepted the challenge, which will run from April 29th to May 3rd, 2013 (Mon-Fri).

I don’t want to make this about politics, guilt, or anything negative. Although this is in part a fundraising campaign, I’m not asking you to donate money. (I will fulfill the goal with my own money. If you really want, you can give here to the Global Poverty Project.) It will be a learning experience for me; I hope to gain some perspective and appreciation for my many blessings. I liked how this tweet put it:

So… 7 bucks and 50 cents. What should I buy?

I’ve read about many families of four that claim to live on $200 of groceries a month, which is pretty much $1.50 a day per person. Getting more people to pool resources definitely helps. But since it’s just me on this challenge, things are going to be a bit tougher. I’ve gone vegetarian for short periods before, so it looks like that will be my best bet. Here are some brainstorming ideas:

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My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Your Entire Financial Life in One Deceptively Simple Chart

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Time for fun with charts! A famous chart in the early retirement community is The Crossover Point from the book Your Money or Your Life, which shows that you’ve reached financial independence when your investment income equals your monthly expenses:

Fellow blogger Adrian of 7million7years also shared a related chart from Chris Han of Quora, where wealth is the shaded area between your income and expenses:

Specifically, if you plotted all your income and expenses over time, the shaded area between would the amount you’ve saved your entire financial life. Bigger shaded area, bigger nest egg.

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My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Paying Cash For Cars: Edmunds.com $3,500 Debt-Free Car Project

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Car pricing website Edmunds.com just finished up a year-long series called the Debt-Free Car project.

Their goal was to explore an alternative to “Buy Here, Pay Here” car lots, which target lower-income folks with poor credit. These lots usually sell a 5-10 year-old car for a high total cost by combining a low down payment and a long stream “affordable” monthly payments. Think of them as the payday loans and rent-to-own TV and furniture stores of the car world.

With an initial budget of $3,500 and the simple criteria of a reliable brand car with an odometer under 165,000 miles, they eventually settled on a 1996 Lexus ES 300 sedan with 135,000 miles that cost roughly $3,300 ($3,800 including tax, title, and fees). They took the average monthly payment of a “deep subprime” borrower of $365 (per Experian) and made that their maintenance budget.

Over the next 13 months, they drove that 16-year-old Lexus another 18,000 miles and spent $3,286 in repairs and maintenance. This included both preventative maintenance things like new tires, new battery, oil changes, etc. as well as two breakdowns and other unexpected repairs. This worked out to $253 per month, under their maintenance budget but high when compared to the purchase price. On the other hand, many of the repairs won’t be repeated for a while and 18,000 miles is higher than average. They ended the experiment by selling the car to an Edmunds employee for $2,700, although they probably would have gotten more on the open market.

Overall, I think this was a neat experiment, and definitely worth a read. The $3,500 + 16-year-old car is lower than my sweet spot of around $8,000-$10,000 + under 7-year-old car, as I’d trade faster deprecation for fewer repairs. Still, the idea of paying cash for a car definitely fits in with my car affordability rule-of-thumb. If you stop thinking of affordability in terms of monthly payments, you can save a lot of money.

You’ll also need to find a good independent mechanic, as the NY Times points out. Recently, I’ve found Yelp to be very helpful in this regard, although some good places have gotten really overbooked. For many years pre-Yelp, I was a loyal customer of Art’s Automotive in the East Bay of the San Francisco Bay Area (Japanese brands only).

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


We Paid Off Our Mortgage: History and Commentary

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We paid off our mortgage. We contacted Provident Funding and requested the full amount due including any accrued interest, the money was sent via bank wire, and the loan is recorded as paid in full. As you might imagine, I spent many hours contemplating this move. In a somewhat anticlimactic fashion, the letter below warning us we had to pay the property taxes ourselves was the first physical acknowledgement of the occasion. I found it amusing that it was addressed “Dear Homeowner”, as I never really felt like I owned my home until now.

A bit of history. When we first bought our home, we looked at the common rules of thumb regarding house affordability and ended up paying 20% down with a initial mortgage less than 3 times our combined income. Indeed, we qualified for the mortgage on my wife’s documented income alone. We thought about getting a 15-year note but went for the flexibility of the 30-year note, while paying it down at the 15-year pace. Over subsequent refinances, our interest rate dropped from 6% to 3%. Even though this made our required monthly payment much less, we kept up the higher monthly payments which had us on the pace of a 10-year payoff.

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My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Share Amazon Prime With Coworkers In Your Office

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Many people enjoy the convenience of Amazon Prime, which for $79 a year gives you free 2-day shipping with no minimum purchase requirement, a decent streaming-video library, and a so-so Kindle book lending library. You may also know that you can share your shipping benefits with other people in your same household (with the ability to use multiple shipping addresses). At the same time, many people choose to get their stuff shipped to their workplace as one of those addresses. Amazon now explicitly allows you to share your shipping benefits with four other coworkers, which mean 5 coworkers can get free 2nd-day shipping by splitting $79 a year. See Share Your Amazon Prime Benefits:

Free or paid Amazon Prime members can share their shipping benefits with up to four additional family members living in the same household, or up to four coworkers. Other Amazon Prime membership benefits such as Prime Instant Video and the Kindle Owners’ Lending Library can’t be shared.

[…] Amazon Mom and Amazon Student members with Amazon Prime shipping benefits and customers receiving a free 30 days of Amazon Prime benefits with Kindle Fire won’t be able to share their benefits.

Only the primary owner gets the video streaming, but I think the shipping benefits are worth the most as Netflix only runs $7.99 a month with a bigger library. The only slightly hard part would perhaps be to collect payment, but really a free lunch per year should do it. Go make some friends! 🙂

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Billboard #1 Song In The US is about Frugality?!?

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For the 4th week in a row, the #1 song on the Billboard Hot 100 is “Thrift Shop” by Macklemore & Ryan Lewis featuring Wanz. It’s also currently the #1 download on Amazon MP3 Top 100. The song is about… frugality? …buying clothes from Goodwill? …how paying $50 for a brand-name t-shirt is stupid? From Wikipedia:

Macklemore spoke to MTV News about the meaning of the song: “Rappers talk about, oh I buy this and I buy that, and I spend this much money and I make it rain, and this type of champagne and painting the club, and this is the kind of record that’s the exact opposite,” he explained. “It’s the polar opposite of it. It’s kind of standing for like let’s save some money, let’s keep some money away, let’s spend as little as possible and look as fresh as possible at the same time.”

Here’s the YouTube version (some explicit NSFW lyrics!) and also a link to the clean version. Is this a sign? Or is it just a catchy beat like Gangnam style?

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My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


Links: How to Make Money in the New Share Economy

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Forbes has an article about how the share economy is taking off. The primary focus is on AirBNB, which lets you rent out a room in your home with ease and last year booked around 15 million nights of stays. I’ve written about some of these sites before, and while I mostly forgot about them, some people are going quite well with them. “Almost anything you can buy new, you can also rent from a stranger.”

One person lives off of income generated by renting his house out whenever he can (while he cordons himself off to an unattached area). One person makes more money dog-sitting from home than working at Starbucks. One person rented his car out part-time for more than the monthly payments, so now he has three cars being rented out. Yet another drives his car around ridesharing every night and is basically a taxi service. These people may be the exception rather than the rule, but is it proof that the next generation of millennials really don’t care about ownership anymore? Is it better to just have access to whatever you need when you want it? Peer-to-peer everything!

Here’s an infographic from the print version of the article that lists sharing websites of all types from around the world, with the data source being Rachel Botsman of CollaborativeConsumption.com.

Here are links specifically dealing with sites that allow you to make money from your own stuff (US-focused only) – be it a room, a car, or your power tools:

  • Rent out rooms in your house (or your entire place): AirBNB, Roomorama
  • Rent out your parking space: ParkingPanda, JustPark, ParkCirca
  • Rent out your car: RelayRides, Turo
  • Drive around others in your car (rideshare, pseudo-taxi): Lyft, Sidecar, Uber
  • Pet sit / doggy daycare in your spare time: DogVacay, Rover
My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.