People always needs to pay some essential bills and people will make do somehow. The job pays off that off and if your wages go does, then you just have to drop down those basic living costs. It's a tough thing to do with but it looks like you have some emergency funds in case things go wrong so I think you will be fine.
The challenge for many is the living without that income. Everyone seems to want to do it without a job, but planning that for the long term and actually living it, is very hard.