"We bought a tatty static caravan for £6k - now 90% of our wages go to savings"
A couple bought a "tatty" static caravan from a scrapyard for £6k to live rent-free - and now save 90 per cent of their wages every month. Rudi Smith, 27, and his partner, Lauren Smith, 28, found themselves struggling with rent for their £750-a-month home in Leeds - despite both working full time. They decided to look for an alternative and decided to buy a 25m by 100m plot of land for £8,000 and a second-hand caravan for £6,000. They spent around £2,000 ripping out and renovating the caravan but now live mortgage and rent free - spending less than £100-a-month on bills. Rudi is able to save 90 per cent of his salary every month - which he is puts into a joint savings pot which the couple hope to be able to invest in the future. They say they save £13.8k-a-year on rent by living in their caravan.
