On HGTV there are numerous shows on Tiny House Living. This trend is probably not for everyone, but the idea of living with less should be something everyone should consider. As I read this article “The Financial Benefits of Living With Less” I was amazed that the average household spends 10% of their income on interest! Most probably have a mortgage and unless we have overbought, owning a home is a benefit over renting. But how much of it is car payments and credit cards where we are buying stuff that in a short time it is gone? My wife used to have the saying “Simple Elegance” and her perspective in decorating a home that less is better so it doesn’t look cluttered. I can say I have never bought a new car and the depreciation, licensing and insurance cost savings have been huge. How much do you spend of your household income in interest? What experiences or more important things in your life could it be spent on? What action are you willing to take to spend less in interest and become more financially free? I started in 2010 and it has been a blessing to have more financial freedom and the additional choices it gives you.
Additional Resource: The Financial Benefits of Living With Less