Check out this great post by Dave - a Peace Corps volunteer, who, like I did when I earned a similar amount in Vietnam, has come to the conclusion that even on his stipend salary he's still one of the lucky ones.
"So, given the money that most people are living with, my salary of $6.67 per day puts me at a level that very few in Nicaragua reach. Tack on to my salary the health benefits I have through Peace Corps and an American credit card, and I'm one of the most fortunate persons in my town, despite living at a level that is lower than any I've experienced in my life. And though I now have a better idea of what one dollar a day means and I can see everyday the people living at that level, I'm convinced I could not do it. Whether I'm sitting in a $720/month apartment in Ann Arbor or a $27/month house in Nicaragua, one dollar a day is not right."