WHEELY NICE
People say ‘ugh’ when I tell them I live in a caravan but I save 90% of my wages every month – I’ll be rich in 5 years
Scroll down to find out how much it costs to live in a caravan
A MAN has revealed that he is constantly judged for living in a caravan, but said he doesn't care, as he saves 90% of his wages every month.
Rudy shared that he is sacrificing material comforts now, so that he will be rich in a few years.
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Posting a look at his bright green caravan on TikTok, he said that people always say "ugh" to him when they found out he lives in a caravan.
However, he added that he is "avoiding material living now to speedway his way to riches.
The TikToker explained that because he lives in a caravan, he is able to save 90% of his wages every month, instead of spending them on rent or a mortgage.
He said that this way, he can "make 20 years of progress in five."
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He added that he has lived in the caravan for two years already, so just needs to live there for three more years to reach his savings goals.
The TikToker explained that although he loves living in his caravan, there are some downsides, such as the freezing cold winters.
However, he said that he has installed a wood burner into the caravan, to keep him as toasty as possible.
Rudy plans to build a house on the plot of land where is caravan is situated and sees his temporary home as a "good financial investment."
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His video, which posted under the username @byrude, has likely left many people impressed, as it has racked up over 597,000 views on the video sharing platform.
We’re a family of 5 living in a caravan - it’s always a mess & super stressful, especially in winter, but we don’t pay a penny in rent
TikTok users raced to the video's comments section to share their thoughts.
One person said: "We’ve been in our caravan for a few months now and love it."
Another person said: "I've just moved into a static caravan on the cliffs in south Devon. I'm absolutely loving it."
A third person said: "I want to do this so much, I'm so tired of the corporate 9-5."
Living in a caravan is a great way to save cash for a house, whilst still having your independence.
How much does it cost to live in a caravan?
LIVING in a caravan can be an economical and flexible lifestyle choice in the UK. Here's a breakdown of potential costs:
Initial Costs
- Caravan Purchase: £8,000 - £40,000 (depending on size, age, and condition)
- Caravan Insurance: £200 - £800 per year
Ongoing Monthly Costs
- Pitch Fees: £150 - £600 (varies by location and facilities)
- Utilities (Electricity, Gas, Water): £40 - £120
- Maintenance and Repairs: £20 - £80
- Internet and TV: £20 - £50
- Gas for Heating/Cooking: £15 - £40
Other Potential Costs
- Waste Disposal Fees: £8 - £25
- Transport Costs (if moving locations): Variable, depending on distance
- Optional Add-ons (Awning, Solar Panels, etc.): £400 - £1,600 (one-time)
Sample Monthly Budget
- Pitch Fees: £400
- Utilities: £80
- Maintenance and Repairs: £40
- Internet and TV: £40
- Gas for Heating/Cooking: £25
- Total: £585
Annual Estimated Cost
- Total Monthly Costs: £585 x 12 = £7,020
- Insurance: £500
- Maintenance and Repairs: £480
- Total Annual Cost: £8,000
Tips to Save
- Off-Peak Pitch Fees: Look for lower rates during off-peak seasons.
- DIY Maintenance: Handle minor repairs yourself.
- Energy Efficiency: Invest in solar panels to reduce utility costs.
While initial setup costs can be significant, ongoing expenses for living in a caravan can be relatively low, making it a viable option for those seeking an affordable and mobile lifestyle in the UK.
As the cost of living crisis continues to bite, more and more adults are struggling to get on the property ladder and are choosing to live in their family home for longer.
The 2021 census revealed that over half of people aged 23 and under still live with their parents.
The average price of a house in the UK was £285,000 as of March 2023, and this rises to a whopping £735,254, which is completely unaffordable for many.
Moreover, research from the Resolution Foundation found that the average first time buyer deposit tripled from 5 per cent of the property price in 1989 to 15 per cent in 2019.
This means that buyers have to save for far longer and use up a larger percentage of their earnings to get on the property ladder.
Recent research by property site Zoopla found that 42 per cent of adults under 40 who do not already own homes have given up, due to the astronomical cost of buying a property.
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This included 38 per cent of people earning over £60,000 (almost double the average salary for the UK).
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