Tiny House, Tiny Living, The Tiny Life.

It’s A Long Road, But You Aren’t Alone

Recently I have hit a snag in my quest for a Tiny House, recently I have had to take a small hit in income and at the same time, I have decided to get more aggressive with goal setting in my financials.  The ultimate goal for me is to have all of my student loan and my car loan paid off, save to pay cash for my next car and build my house without taking a loan if I can help it.  A tall order for anyone, but for a single income worker just beginning their career in a shaky economy, it is especially hard.

At this point I have significantly cut my spending.  I dropped my cable tv, I have arranged to work at home for part of the time to save gas, and the biggest change is I am now house sitting long term (hoping to continue) which saves me $900 a month.

My student loan has 7 more years left on it, but I am working to double pay by the end of next year and then triple pay after that, this will cut the time to about 2.5-3 years.  But this timeline was longer than I had initially hoped.

In the end it will be worth it, I will have a home and a car that I own outright, no debt hanging over my head, this coupled with a lean lifestyle and all my income going to the bank.  I can’t wait for this journey that I started 3 years ago to finally be realized.  So for those of you on a similar journey, know you don’t tread this path alone, good luck.

  1. I’m looking to really retire soon (not just down-size my business) and do have a house and car paid for. Next up for me is some CC debt my business accumulated. Debt-free will be delightful! Good-luck to you!

  2. Go team Tiny Life!
    It sounds like you’re doing better than most Ryan. It took me many many years to get debt free and build my tiny house. Take it from someone who’s been in your shoes, it’s definitely worth it.

    Sounds like you’re doing some severe belt tightening. In my humble opinion, be sure not to deny yourself the occasional frivolity. It’s a long road and a little bling now and then does wonders for the spirit!

  3. This was just the kind of post I needed to read today! I wish you luck – it’s hard to have to put in the (slow) work to realize your dreams, but you can do it. And you reminded me that I can too. Good luck!

  4. I went the other way with my house. I put all the bills on hold…interest be damned! I focused on the house and nothing but the house. I put all my money into it. It took one year of savings. I lived so cheaply looking back on it I still can’t believe I pulled it off. Now after living in it for the past year all my bills are paid off. Yes some bill collectors wanted my head but I didn’t care. I knew that if I put it off I could never catch up on those bills. My cost of living dropped about 97% once I was done and I was able to kill all my bills within that first year where it would of taken me 10 times as long to do so. I’m not saying this approach is for everyone, but it worked for me. Good luck!

  5. At 25 years old and single, many of my friends can’t see why I’m on a shoestring budget and living in my parent’s in-law apartment (for next to nothing – bless them)! This was a great reminder that the right goal is worth any amount temporary deprivation. I, too, can’t wait for a 5 years down the road. Thanks for the post, Ryan, and good luck!

  6. You AREN’T alone Ryan and you’re doing a fantastic job of thinking things through and living intentionally. Some of my most satisfying and proud moments in life were paying off my student debt (after almost a decade!) and paying off revolving debt (of over $30,000). I haven’t taken on any debt since then and I feel so much less stress in my life now. Even if living within my means (paying with cash I have, not credit) is sometimes painful, it is SO MUCH LESS PAINFUL than living in debt.

    YOU CAN DO IT! Good Luck!

  7. Much admiration and appreciation for your work and this wonderful site. Promoting and living a restrained, balanced and abundant lifestyle is good work. Best of luck as you accomplish your clear vision with strong commitment.

    Best of luck!

  8. I decided to pay off the house I live in rather than move to a tiny house. I have about 1100 sq ft house. I am planning on dividing house and rent out one section for income. I have 1 1/2 years left to pay. I will be able to pay this off this year. I will receive about 400.00 a month for rent. Good luck to everyone

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