If the money I'm currently putting aside to save for a house and wedding are considered bills, then, by your definition, I do believe I could live in poverty
But, then, I also don't agree with your definition of poverty.
What, exactly, is "personal disposable?" Is that money that someone would blow on going out to lunch? I mean, I have that money, too... but instead of opting to spend it on sushi, I brown-bag it, and put a few extra bucks in the "wedding fund" for that day to make my fiancee happy. And the cash I blew on groceries I wouldn't consider "personal disposable."
And what about the guy that's investing in a house instead of living in an apartment like me? He has an extra $500 a month, but instead of putting it to his wedding fund, he's putting it toward a real estate investment. Yet, because he's having his money work for him, he's living in "poverty?"
And what about car payments? I mean, I know this guy who takes the bus everywhere he goes... and he does it so he able to have more money on-hand - no car payment, no gas, no insurance... so the guy always has a fat bankroll in his wallet, but he makes considerably less than me a year.... yet, by your definition, I'm living in poverty, and he's not?
I'm also paying my way through college... but that's a bill, too, right? I mean, it's an investment, and investments are bills, right?
In 2007, the U.S. placed the poverty line for a individual at $10,210 a year. I'm confident that I'll be declaring more than that when I finish my taxes this weekend.... but, at this point in my life, I'd rather tighten the belt a little bit right now every step that I'm able, and reap the rewards down the road - and I don't consider myself living a life of poverty just because of that mentality.
I ain't got nothing on no Buddhist monk.
