Our savings were gobbled up by rent before moving into caravan – but now we get £12k a YEAR in our back pocket
A COUPLE has revealed how they are set to save £6,000 a year after giving up their home to move into a caravan.
The pair estimate that they will be able pay off their hefty credit card debt in just 12 months.
Posting on Reddit, they revealed how they would set their finances straight at the age of just 23.
One of the duo explained that they were previously living in a three-bed property shared with a sibling.
However, when the pandemic hit, they found £2,500 of savings “gobbled up” by rent, with a further £3,000 added onto credit cards.
Fortunately, their mother was able to step in and offer alternative accommodation – and major savings in the process.
They wrote: “My mum suggested moving back to hers although she doesn’t have the spare bedroom for us, but they have a big garden and said i can get a caravan to sleep in, whilst still using the house for showers, cooking food, living etc.
“All she wants is the difference in bills for gas & electric which is fair enough, no rent or anything.
“I’m sick of being in debt so we are prepared to grit our teeth and go for it.”
Based on their outgoings, they estimate that this will save them a whopping £500 a month, totalling out to £6,000 a year, each.
Overall, they expect to save a collective £12,000, enough to pay off their credit card debt and leave £9,000 over to get back on their feet within 12 months.
Social media commenters were wowed by the ingenious move.
One wrote: “There is no shame in doing this, you guys are still really young.
“I have seen too many friends stuck in the renting rut because they were too proud to move back in with parents to save.”
Another added: “I would look into this myself since changing jobs now.
“It seems like a good way to have your own space as a couple while getting the benefit of cheaper rent and also getting use of showers.”
It comes after two brothers who bought an ex-Amazon delivery van for £2,000 revealed how they planned to turn it into a cozy camper to travel to Euro 2024.