‘We renovated a static caravan and save over £13K a year on rent’
Watch: 'We bought a tatty static caravan for £6k - now 90% of our wages go to savings'
A couple have shared how they renovated a static caravan to live rent-free and now put away 90% of their wages and save over £13K a year on bills.
Despite both working full time, Rudi Smith, 27, and his partner, Lauren Smith, 28, found themselves struggling with rent for their £750-a-month home in Leeds.
They decided to look for an alternative and chose to buy a 25m by 100m plot of land for £8,000 and a second-hand caravan for £6,000.
The duo 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 put away 90% 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.
The couple also manage to save £13.8K a year on rent by living in their caravan.
"I have been a lot happier," Rudi, a stone mason, from Leeds, Yorkshire, explains of his new life.
"There is so much breathing space financially.
"It's so much less stressful."
Rudi and Lauren, who works in hospitality, were already struggling to pay their £750-a-month-rent when the cost of living crisis hit.
"It put us in a real hole," Rudi explains.
"We thought this is no way to live."
On top of their rent the couple were also forking out an extra £500 for bills, meaning they only had a couple of hundred pounds a month left over.
"We started exploring other routes," Rudi continues.
Having looked into buying land, the couple found a plot for around £8K.
"It was really rough and overgrown," Rudi says.
"There were brambles up to 10ft high."
After securing their land, Rudi and Lauren spent £6,000 on a static caravan and have spent the last two years making it their own.
"We bought it second-hand at a scrapyard for older caravans," Rudi explains.
"It was a little tatty and needed updating."
Because the caravan has such a small footprint the couple have been able to spend more on nicer materials including herringbone wood flooring.
"It looks old on the outside and lush on the inside," Rudi continues.
"After the first month we were like 'oh wow, that's everything paid for'."
As well as saving money, the couple say they like not having immediate neighbours.
"The closest house is at least 150m away," Rudi says. "We can make as much noise as we want."
The couple spend just £48 on a gas bottle to warm their home, which they say lasts three to four months.
"It's around £100 for six months of gas," Rudi continues.
"Our total outgoings are less than £100-a-month."
They also have solar panels and off-grid electricity and pay just £30 for Wi-Fi.
Lauren uses her wages to pay for bills and outgoings so that Rudi can put such a large amount of his into a joint saving pot.
"We've got a five year plan," Rudi explains.
"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."
While the couple say they have spent the last two years being in "militant savings mode", they are looking forward to travelling more in a £6K campervan they bought in November 2022 and have been renovating.
And while the duo say they've never been happier, they also admit it hasn't all been "dreamy".
"It's definitely not been easy," Rudi adds.
"The winters are cold.
"It takes a lot of work at the beginning."
Additional reporting SWNS.
Read more about the cost of living:
‘We spent £56 on our wedding and got married in gym kit and work wear’ (Yahoo Life UK, 6-min read)
'We flew to Greece for fertility treatment and saved £1K' (Yahoo Life UK, 6-min read)
‘I saved £4K in six months by doing the no spend challenge' (Yahoo Life UK, 6-min read)
