News Wales

‘We live in a caravan from a scrapyard and our bills are just £100’

September 4, 2024

Couple Saves 90% of Wages Living in Caravan Bought from Scrapyard

A young couple, Rudi Smith, 27, and Lauren Smith, 28, found themselves struggling to pay the rent for their £750-a-month home in Leeds despite working full-time. As a solution, they purchased a “tatty” static caravan from a scrapyard for £6,000 to live rent-free, enabling them to save 90% of their wages every month. Here is how they made it work:

Details of Their Unique Living Situation:

  • They purchased a 25m by 100m plot of land for £8,000.
  • The second-hand caravan cost them £6,000.
  • After spending around £2,000 renovating the caravan, their monthly bills now total less than £100.
  • Savings of £13.8k per year on rent due to their unconventional living arrangement.

Rudi, a stone mason, is happy with their decision, stating, “I save 90% of my wage a month. I have been a lot happier. There is so much breathing space financially. It’s less stressful.” Lauren, who works in hospitality, uses her wages to cover bills and expenses, allowing Rudi to contribute the majority of his salary to their joint savings pot.

Their Long-Term Financial Goals:

  • They plan to invest their savings in a motorboat yacht in Spain that they can rent out.
  • Looking to free themselves from traditional employment, they aim to create a more flexible lifestyle.

Despite the challenges of living in a small space and enduring cold winters, the couple finds joy in their self-sufficient lifestyle. They have adapted to using minimal resources, spending just £48 every few months on gas to heat their home and around £30 for Wi-Fi. Their investment in solar panels and off-grid electricity further reduces their living costs.

Rudi and Lauren have been diligent in their savings efforts, adopting a “militant savings mode” for the past two years. While their journey has not been without its difficulties, they are content with their decision to pursue a more financially sustainable and fulfilling way of life. By sharing their story, they hope to inspire others to consider alternative living arrangements that prioritize financial freedom and personal well-being.