6 people on how living in a tiny house has changed their finances, from going debt-free to saving six figures
Courtesy of Bekah Taylor
- Tiny house living changes your finances for the better, according to six people who live in tiny houses.
- Many were able to significantly reduce their housing costs, thereby doubling - or even tripling - their savings.
- The extra money has brought them new opportunities to enrich their lives, they said - with experiences like traveling or starting a business.
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Life tends to gets smaller when joining the tiny-house movement.
There's the 100 to 400 square feet of space - defined as the criteria for a tiny house - that makes up your home. There's the downsizing of possessions so you can live comfortably. And there's the overall minimalist lifestyle that comes with both of those things.
But the one thing that doesn't shrink, according to many tiny house dwellers, is your bank account.
Business Insider talked to six people who went tiny about how their finances changed after making the move. Turns out, going tiny has made them richer in more ways than one.
Many have significantly cut the cost of their rent or mortgage and thus doubled their savings, which has yielded them more opportunities to take advantage of - like traveling or starting a new business.
Here's how going tiny has changed people's finances for the better.
Couple Bela and Spencer cut their housing costs in half when they downsized to a tiny home — and they earn income of it by turning their tiny house into a vacation rental.
Bekah Taylor said her housing expenses are half to a third of what she would be paying if she lived in the city.
Couple Tim and Sam have cut back on unnecessary expenses because living in a tiny house has forced them to downsize.
Ryan Mitchell has saved six figures since moving into his tiny house.
Laura LaVoie said going tiny has opened up new opportunities for her and her husband.
Jenna Spesard is now debt-free because she lives in a tiny house.
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