Single? Here Are 7 Ways to Live off Half Your Income ...

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As a single guy or gal, you're responsible for your own monthly expenses. You have to pay rent, transportation cost, utilities, buy food and cover other monthly expenses. And sometimes, being single can strain your budget. But if you can live off half your income, you'll build a hefty cash reserve, and you might alleviate some of your financial headaches. Here are seven ways to live off half your income.

1. Automatically Deposit Half of Income into Savings

If you want to live off half your income, you need to make half of your income unavailable. Open a savings account with a bank, preferably an online savings which offers higher interest rates. When you receive your paycheck, automatically deposit half of your check into your savings account. With only half your income leftover for expenses, you're forced to live on less.

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