From Longman Dictionary of Contemporary Englishlive on phrasal verb1 SURVIVEif something lives on, it continues to exist Alice’s memory will live on.2 live on something to have a particular amount of money to buy food and other necessary things I don’t know how they manage to live on £55 a week. the number of families who live on benefits3 live on something to eat a lot of a particular type of food They live on bread and potatoes. He practically lives on fish and chips! → live→ See Verb table
Examples from the Corpus
live on• How much do you need to live on?• $35,000 a year sounds like a lot of money, but it's scarcely enough to live on in New York. 