How to Live Life a Little Less Traditionally and Save Money in the Process? (Part 2)
It’s important to remember to know why you want to lead an alternative lifestyle and what motivates you.
Read Part 1 here before you start on Part 2
1. Tiny houses have gained mainstream media attention and the imagination of many people dreaming of living minimalist lives, focusing more on mobility and quality of life instead of oversized, unsustainable mortgages. Besides, in the current crisis of affordable housing, tiny houses might as well be the answer to housing shortages while allowing people to live more sustainably and within their means without anxiety and stress over debilitating mortgage repayments.
Often, we get caught up in the cycle of working, spending, paying off credit cards, and unhappiness, which could lead to burnout, anxiety, fear, depression and dissatisfaction with life if we see no rewards for our hard work or for following the rules the society set for us such as getting a job and getting a mortgage.
Tiny houses are compact and often on the minimalistic side of life, affording much higher quality products used to build the tiny house over the quantity of space that would need to be filled with stuff. Having a limited amount of space that needs filling up with stuff saves money and the environment, as there is less need to produce certain items.
The positives of having a smaller house include a smaller mortgage or a loan or no mortgage at all, owning your tinny house faster than a traditional house, having to work less to make house payments while being able to focus more on your hobbies or starting a new business venture or simply being; being able to move your tinny house especially if it’s on wheels, contributing less to the capitalistic approach to society and of course having smaller bills leaving your bank account every month.
As with everything in life, tiny houses have their own challenges, such as having a legal parking spot. In many countries, the disconnection between the governing parties, the officials, and the public’s desire to have more tiny housing dwellings is massive. All the tiny house experts advise that you have a parking spot before you start building your tiny house.
Unfortunately, most local and central governments are lagging in understanding that affordable housing solutions exist, people want them, and that life for many people has changed. They don’t want to just work and pay their mortgage anymore. Hence, the governments need to keep up with the demand.
There are many channels that discuss the specific cons and pros of having, owning, and building a tiny house, so do your own research before you decide.
Tiny houses are a good financial and environmental solution, as they can be built to personal specifications using recycled and thrifted materials without putting more pressure on natural resources. Besides, a smaller mortgage or loan or paying off your tinny could give you financial breathing space to do what you please with your life. Location flexibility is also very enticing, especially for people who love to travel.
There is a lot to think about, and as always, do your research, crunch numbers, see what’s doable and affordable and know your WHY.
My favourite YouTube channel is Living Big in a Tiny House, which introduced me to tiny living. However, there are many more, especially US-based channels, that you might find useful.
2. Setting up a homestead – homesteading became trendy during the COVID-19 pandemic. At that time, many people began looking into more robust self-sufficiency through growing fruits and veggies and keeping chickens alongside other animals. Homesteaders are known to develop their food as much food as they can, preserve their food in various ways and forms, exchange foods with other farmers or homesteaders, forage for food, rely on their skills to expand their homestead or repair goods, often live off the grid through catching rainwater, using composting toilets, recycle water from their homes, using alternative cooking methods, depending on the country those might be traditional ways of cooking, using solar panels to harvest energy, collecting wood for heating, in short using whatever they can to be independent of big corporations and live outside of the capitalism. Homesteading is a full-time job, so if you commit to it, depending on how big your property is, it will require a majority of your focus. In exchange, this lifestyle can create total independence from a lot of the resources that the majority of society pays dearly for. Unfortunately, living totally without money isn’t possible, so additional income will be needed. You could try to figure out how to combine homesteading with income, as some homesteaders have been trying to do. The YouTube channel I’m sharing in this section is new to me, but I feel the person who runs it has a healthy approach to homesteading without glamorising the handwork homesteading requires. He also lives in a tiny house, so you might pick up on some tiny house tips.
In every country, homesteaders will have different tips and recommendations, as growing is very much dependent on the climate. So, if you are interested in that, find someone you could relate to who is local to where you live.
3. Property shared ownership – if you can’t afford to buy a property, getting together with some of your friends or family members to buy a property could be a good solution. In the long run, that type of investment/housing solution could offer the buyer peace of mind, especially during periods of housing shortages and skyrocketing rents, as we have been experiencing since the end of the COVID-19 lockdowns. The property could be divided into half, with a shared garden, front yard, garage, parking place, etc. Buying property with your friends or family would cut the purchase costs, including the bank and real estate fees and taxes, and, of course, the deposit would also be smaller as it would be split in half. I don’t know any YouTube channels that cover shared ownership topics. However, Vicky Robin was the first person I’ve encountered who spoke about buying a property with her friend, and she did that way back in the 90s, if I’m not mistaken.
4. Off-grid living—as I mentioned above, many people who live in tiny houses, especially tiny houses on wheels, try to set up their houses for off-grid living as much as possible. If you are building a new or tiny house, setting up for off-grid living might be easier to implement than adjusting an existing house to off-grid living.
If you are thinking of adjusting your existing house to off-grid living and are worried about the costs, which can quickly add up, implement solutions in stages, spreading the costs over months or years. Setting up housing with off-grid solutions is an investment that will pay off in the future, as your house would be completely independent from the fluctuation of international commodities markets.
Off-grid dwellers use compostable toilets (either old-fashioned or more technologically advanced), generate their own electricity, collect rainwater, which is purified for drinking and cooking, use grey water to water the garden, and compost all organic materials to grow fruits and veggies in the garden. Many of these off-grid solutions are used by homesteaders as well as tiny house owners.
The YouTube channel I’m recommending for this section isn’t necessarily about one specific person setting up an off-grid life, but about alternative ways of living. Amongst their videos, you’ll be able to find off-grid videos. If you are interested in that kind of lifestyle, find someone local to you to see what they have done, as solutions will vary depending on location.
5. Renting your extra room or house/flat on Airbnb – a couple of my friends rent their spare rooms or sometimes even their whole house on Airbnb. Being in a position to do so can be a way to earn some extra income to free up time. Setting up an Airbnb rental doesn’t require vast amounts of time or much additional funding and could be easily implemented.
6. Combination of all or some of the above – that is self-explanatory. On the way to financial stability and security, people often try all the above in different combinations and at other times. Checking out what suits you is a good way of making choices, learning new skills, and meeting people you might not have met otherwise.
It’s important to remember to know why you want to lead an alternative lifestyle and what motivates you. If having lots of money is your only motivation, the solutions I propose might not be for you. However, if you are after a life-work balance, you might find some of my proposals suitable.
However, as with everything in life, seek solutions that suit you and your lifestyle. Think outside the box to create a life that’s lived to the fullest, filled with beautiful moments instead of persistent worries about your finances, as seems to be the case for many people at the moment.
The alternatives I suggested are kind to the environment and our pockets, allowing people to live full and happy lives.
PS. I’m Made by Dyslexia, so expect small typos, spelling mistakes, and big thinking.