If you seek wealth, then avoid life’s big mistakes. Such mistakes can be buying luxury cars that are outside your budget, overseas vacations purchased on credit cards, or living in a place you can’t afford. Which brings me to today’s post on how we Live Big in a Tiny Home!
If your goal is to upgrade to a mansion, as The Green Swan shared in a cool article, then that’s great. But only if you make a conscious decision to make that happen responsibly.
“Hey, I want to live THERE, which costs $X/month, so I’m going to save money at Y rate and make it happen in three years!” = GREAT.
“Hey, I’m going to get a second mortgage that I probably will never be able to pay off and make this happen next month!” = HARD NO.
What I find most detrimental to building wealth is an unconscious urge to spend for selfish reasons or as an insatiable appetite to live bigger and better with the hope that this leads to happiness.
Mindlessly spending money might lead to a temporary ping of excitement. But, if spending is what leads to excitement, I can tell you right now, all money will eventually run out.
Money can be a source of greatness by providing security & freedom, but it will not provide true or lasting joy.
One of life’s big mistakes is falling into the trap of always wanting more. My girlfriend and I have taken the opposite approach.
We learned early on that spending money to find happiness is not a sustainable approach.
Outside of the monetary benefits of our approach, it has led us to a deeper sense of happiness and has made our relationship stronger.
Live Big in a Tiny Home
We made a choice to live in a one bedroom home here in Chicago. We actually sent a year looking at units in our building before we moved in because we wanted to best place for the best deal.
Our home has everything we need. Mainly, four walls and enough space for us to cook & sleep and for our two cats to run sprints in the middle of the night. It even has such luxuries as an in-unit washer dryer, a dishwasher, and a balcony.
We picked this specific location because it was within walking distance of work. I can’t begin to tell you the benefits walking everyday has for the mind and body…or our wallets.
We feel as if we are living like the kings and queens of old despite not spending nearly 50% of our income.
“Not spending,” might be misleading because every paycheck is being put to good use as down payments on our future freedom and security.
The Need to Upgrade – Does our home have everything we want?
As we continue to establish ourselves in our careers, we want to build not only our relationships, but we want to also build up in terms of our living conditions.
I would love to have a 2 bedroom, 2 bath that is big enough so that my 5am coffee making doesn’t wake up my girlfriend (who begrudgingly forces herself awake at 7:34am).
Or, I could learn to cold brew my coffee…
Do you live far below your means when it comes to housing? Are you freeing up your cash flow for bigger and better purchases? Do you dream of upgrading to a bigger house like me?
P.S. Credit for the great photo goes out to this cool site.