Living in a tiny home may seem like it’s all about living with less — less space, less stuff, and less room for excess. However, there’s one area in which tiny home living is about living with more: Money.
When you live in a tiny home, there is room for huge savings, allowing you to spend less on the cost of living and have a bigger budget for either savings or opportunities and experiences. Saving big is one of the many benefits of living tiny.
Tiny homes cost less to build and maintain than traditional homes and since they are so small comparatively, they use up significantly fewer resources, too. Whether you’re looking to build your own tiny home or search for a used tiny home on the market, there are several areas you should pay attention to in order to maximize your savings.
Use an Alternative Form of Power
Tiny homes offer a great opportunity to pursue the use of alternative power. Because the square footage of a tiny house is so small in comparison to a traditional home, much less power is required to make the house run.
Choosing to use a renewable energy source like hydro, solar, or wind, is a great way to see big savings in your living costs. Solar panels, especially, are fairly simple to incorporate into your tiny home design and can easily power your home’s needs at a fraction of the cost of coal or gas.
Being aware of the different types of renewable, alternative energy sources can help you make informed decisions about what’s going to work best in your tiny home. This is just one of the many ways in which you can save money by living in a tiny home. Whichever route you choose to go down, know that you will see big savings in your energy bill and will be doing something good for the environment as well.
Create Strong Systems
Systems that work with each other and with the design of your house can help save you money in the long run. Everything from the orientation of your home to the placement of your solar panels can affect your savings, so paying close attention to efficiency is key.
One of the best things you can do is make sure that your tiny home has a south-facing window. This way, it can work with the sun to keep your home warm and cut down on heating costs when it’s chilly outside. Similarly, taking care to position your solar panels correctly can ensure that they’re working as efficiently as possible to power your home.
Checking systems for efficiency applies to your water usage, as well. In traditional homes, it’s quite common to have huge amounts of water wasted in toilets, showers, washers, dryers, and other appliances. Chances are when you live in a tiny home, you may not even have some of these appliances, but it’s still important to check for efficiency to reduce costs. You might even surprise yourself and create an innovative system that helps everything work better together.
Choosing a low-flow toilet and measuring the flow rate of your sink and shower are just a few of the ways you can examine the efficiency of your bathroom. You may find a leak or an area of wasted water that can be updated or repaired to help conserve both water and money.
Once you start looking, there are a ton of ways that living in a tiny home can help you save money. Creating strong systems is all about making sure that every aspect of your home and its surroundings is working together at the utmost level of efficiency so that every dollar you put into it is stretched to its fullest.
Being meticulous when it comes to saving money may be something that penny-pinchers are familiar with, and it’s especially important when living in a tiny home. You know you have to be meticulous about planning, building, organizing, and purging, so why not extend that mindset to your budget and spending?
Financial professionals at Fiscal Tiger identify staying disciplined, creating a plan, and being familiar with your needs versus your wants as ways that one can stretch a budget to its fullest potential. Once you find yourself with lower housing costs in your tiny home, it might be tempting to go on a spending spree to celebrate. However, having less stuff is probably one of the reasons you chose to downsize in the first place.
Some tiny home owners create rules about spending and items in their homes. For example, some people have a rule of one item in, one item out that means that every time they purchase a new item, one old item must be gotten rid of. It’s easy to save money when you buy less. Tricks like this can help you stay meticulous in your spending and think long and hard about each purchase. Do you really need it? Do you have space for it? What purpose will it serve?
It’s easy to see that there are a lot of opportunities to save money when you live in a tiny home. As long as you pay close attention to every item that comes into your home, examine your systems for efficiency, and think outside the box when it comes to power and energy, you will likely find yourself with extra money to spare in no time.