A couple have transformed their financial situation by swapping their rental home for a second-hand caravan, now living almost rent-free and saving 90 percent of their income every month.
Rudi Smith, 27, and his partner Lauren, 28, were struggling to make ends meet, paying £750 per month in rent for their Leeds home, despite both working full-time.
Faced with the struggle of rising costs, the couple decided to explore alternative living arrangements. They eventually found a 25m by 100m plot of land for £8,000 and a second-hand static caravan for £6,000, which they purchased from a scrapyard.
By investing just £2,000 into renovating the caravan, they now live mortgage – and rent-free, with their monthly bills totalling less than £100.
Reflecting on their financial transformation, Rudi, a stone mason from Leeds, said: “I save 90 percent of my wage a month. I have been a lot happier. There is so much breathing space financially. It’s less stressful.”
Before making the move, Rudi and Lauren, who works in hospitality, were spending an additional £500 on bills, leaving them with just a couple of hundred pounds at the end of each month. Rudi said: “We really struggled to pay for everything. It put us in a real hole. We thought, ‘This is no way to live.'”
The couple’s search for alternatives led them to the overgrown plot of land, which they described as “super cheap” but covered in brambles up to 10 feet high. They then purchased a “tatty” caravan from a scrapyard for older models and spent two years renovating it.
Despite its rough exterior, the couple invested in quality materials to create a cosy interior, including herringbone wood flooring. Rudi said: “It looks old on the outside and lush on the inside.”
Living in their renovated caravan has brought numerous benefits. With no immediate neighbours, they enjoy peace, quiet, and the freedom to make as much noise as they like.
Their heating costs are minimal, with a £48 gas bottle lasting three to four months, and they rely on solar panels for off-grid electricity.
Rudi noted: “It’s £100 for six months of gas”, adding that their total monthly expenses are under £100.
Lauren’s income covers their essential bills, including £30 for WiFi, while Rudi puts 90 percent of his earnings into a joint savings pot. The couple estimates they save £13,800 annually on rent by living in their caravan, and they have big plans for the future.
Rudi said: “We’ve got a five-year plan. We want to use the money to invest in a motorboat yacht in Spain to then rent out. We want to free ourselves from having to work for other people.”
Although the move has allowed the couple to achieve significant financial freedom, the journey hasn’t been without challenges. Rudi admitted: “It’s definitely not been easy”, mentioning the cold winters they’ve had to endure.
However, after two years of living in “militant savings mode,” Rudi and Lauren are looking forward to more travel in a campervan they bought in 2022.
Despite the hardships, Rudi says the couple “have never been happier”.
