Of course, what you spend to live depends on your lifestyle. Personal finance blogger Free From Broke lives in Queens, N.Y., and works in the financial services industry in Manhattan. He maintains that, with a frugal lifestyle, he, his wife and soon-to-be three children can live on $5,000 a month. “We pay about $1,100 a month for housing and utilities,” he said. “We own our co-op outright so we aren’t paying a mortgage on it.” Free From Broke’s other major monthly expenses include $600 on groceries, $200 for transportation and $250 for entertainment. They save $250 each month. That brings their total major expenses to $2,400 per month, leaving plenty of wiggle room for the other expenses that they undoubtedly have.

So, how far does $5,000 go in your hometown?

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