The 5 Big Secrets Of How Tiny House Living Helps You Achieve Financial Freedom!
The Tiny House Movement has been going strong for several years now and it's not letting up! Mainly for reasons that should be easy to spot when considering how much money is left in your bank account at the end of the month or lack there of! Here are 5 big secrets of how tiny house living can help you achieve financial freedom in 2023. I would know because I live in one!
1. Reduce The Cost of Living
The Tiny House Movement was in part a grand introduction to a budget-friendly lifestyle. The movement started to get popular again in 1999 and continues to be on a steady rise. A report by Porch stated that the average price of a tiny home in 2021 in the U.S. is $52,000, while the average traditional size home across the country is north of $403,000. Therefore, in most cases the priciest of Tiny Houses are only a fraction of the cost to purchase than a traditional home. Reducing your cost of living is the fastest way to alleviate financial burden rather than skipping the Starbucks line.
2. Increase Your Savings Rate
Bills on bills on bills! It's literally impossible to save when all the money you bring in is going right out the door. It seems that everyday food is becoming more expensive and everyone is looking for a side hustles to bring in a little more money. Living tiny easily reduces expenses due to how much less you spend on housing costs. A smaller space is much cheaper to heat, cool, and power. Dramatically increasing your rate of savings. So you can increase your savings, although the same amount of money is coming in. Much less is going out!
3. A Minimal Lifestyle Saves You Money
You can't buy it if it won't fit. Many of these homes are only a fraction of the size of a traditional house. Often coming in nearly 8x's smaller than the house you likely grew up in. So the days of those spontaneous buys at the mall are no longer feasible. Rather you have to be quite strategic as to where almost every item in your Tiny House will fit. Believe me I know. I have been living in my Tiny House for almost 5 months now. As summer turns to fall, I have no idea at the moment where I am going to put some new fall boots right now. So in the meantime, I'm saving $160.00 on these https://amzn.to/3PJXkp6 until I build a shed to house just my clothes and shoes.
4. Tiny Homes Portability Is A Hidden Money Goldmine
The days of getting married, buying a house, and having a few kids is a relic of the past. No one is living in the same house for 30 and 40 years anymore. The financial pinch of modern life expenses has forced the Millennials and Gen-Xer's to spend more of their money on student debt and live paycheck to paycheck. If you found a better paying job back in the day, you would have to pack up the family and sell the house. Costing you thousands. Not all Tiny Houses are on wheels, but having a home that is portable allows you to hitch it to a truck and move to where the money is! Not only do you save money, you save time. Priceless!
5. Sustainability Saves Money When Living Tiny
You can't avoid all the talk on climate change. Whether that be on the news, radio, or social media. Even if that's not a plight that is personal to you. Tiny Homes naturally have a smaller impact on the environment. So while you are saving money buying and or living in a tiny house, you are in turn saving the planet! Tiny living is an efficient use of resources, while reducing energy consumption, and minimal waste production. I save hundreds a month in utility costs. My water bill alone is around $16 a month these days!
In conclusion, broadening your concept of nontraditional living is not only beneficial to you financially. It is beneficial to the planet, your wallet, and your peace of mind. There is an adjustment to living tiny verses living in a traditional sized home, but not as much of an adjustment as you think. I presently live in a tiny house with my husband, son and part-time with my step-daughter. So, on any given day there are four of us. I can tell you that making the move to live tiny has lived up to saving thousands. The money that I am saving can send my entire family on a vacation to another country every year. Trading space for more money to do the things I love and want to do is priceless.
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