'I bought a tatty caravan after struggling to pay rent - now I save 90% of my wage'

A couple bought a shabby static caravan from a scrapyard for £6k to live rent-free - and now save 90 per cent of their wages every month. Rudi Smith, 27, and his partner, Lauren Smith, 28, were finding it tough to cover the rent for their £750-a-month home in Leeds, despite both being in full-time employment.

So after exploring alternatives, they decided to purchase a 25m by 100m plot of land for £8,000 and a second-hand caravan for £6,000. They spent around £2,000 on refurbishing the caravan, but now live without mortgage or rent payments, spending less than £100-a-month on bills.

This allows Rudi to stash away 90 per cent of his monthly salary into a joint savings pot, which the couple plan to invest in the future. The duo claim they can save almost £14,000-a-year on rent by living in their caravan, reports Yorkshire Live.

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Rudi, a stone mason, said: "I save 90 per cent of my wage a month. I have been a lot happier. There is so much breathing space financially. It's less stressful."

Rudi and Lauren, who works in hospitality, found it difficult to meet their £750-a-month-rent when the cost of living crisis struck, despite both working full time. Rudi said: "We really struggled to pay for everything.

"It put us in a real hole. We thought, 'this is no way to live'. It was £500 on top for bills. We had a couple of hundred left a month. We started exploring other routes."

The couple scoured the market for land and stumbled upon a plot priced at around £8,000. Rudi said: "The plot of land was super cheap - it was really rough and overgrown. There were brambles up to 10ft high."

The pair then found a pre-loved static caravan with a price tag of just £6,000 and spent two years revamping it. Rudi said: "We bought it second-hand at a scrapyard for older caravans. It was a little tatty and just needed updating."

Opting for high-quality materials due to the caravan's modest size, they installed herringbone wood flooring. Describing the transformation, Rudi said: "It looks old on the outside and lush on the inside. After the first month we were like 'oh wow, that's everything paid for'."

Rudi also enjoys the solitude, saying: "Having no neighbours is really nice. The closest house is at least 150m away. We can make as much noise as we want."

Their heating costs are minimal, with a single gas bottle lasting them three to four months. Rudi said: "It's £100 for six months of gas. Our total outgoings is less than £100-a-month."

Solar panels and off-grid electricity power their home, while Wi-Fi adds a mere £30 to their monthly expenses. Lauren manages their finances, which allows Rudi to save roughly 90 per cent of his income.

With future aspirations in mind, Rudi said: "We've got a five year plan. We want to use the money to invest in a motorboat yacht in Spain to then rent out." Their ultimate goal is "to free [themselves] from having to work for other people".

The couple have been in "militant savings mode" for the past two years, but are thrilled about the prospect of more travel in a campervan they bought in November 2022. They've spent the last two years revamping the £6,000 16-seater van.

Rudi concedes that while they've never been happier, it hasn't all been "dreamy". He said: "It's definitely not been easy. The winters are cold. It takes a lot of work at the beginning."

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