Saturday, September 13, 2008

Extreme frugal living: Move into an RV

Jacob at Early Retirement Extreme website is about to cut his already spartan monthly living expenses in half. How? He and his wife are moving into an RV.

This blog is called Early Retirement Extreme for a reason. Jacob, a guy in his early 30s, spent five years saving and investing 70% of his income on his way to a goal of quitting the rat race, and now he's going to save even more.

Here's how he explains his goal: "Six years ago, I decided that a lifestyle based on bills, mortgages, retirement plans, and conspicuous consumption that depended on working a job for 30 more years or maybe even the rest of my life was not for me."

He and his wife are nearly financially independent, but wanted to cut living expenses further and increase savings. Thus, they came up with the RV plan. They bought a 1991 34-foot recreational vehicle (289 square feet) with 58,000 miles, paying $14,200 -- in cash, naturally. Their rent for the parking space will be much less than they were paying for an apartment in the Bay area.

"It has wheels," Jacob writes. "It also has everything we typically use in our rental except wasted space."
Full Story...
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