Financial Benefits of Small Living

Posted August 24th, 2009 by Tyson and filed in Issue 12: Small Spaces and Finances, Uncategorized

I think the main financial benefits of small living are pretty apparent.

Built-in Savings

These are the obvious up-front savings you should expect to see with decreased rent or purchase/construction cost. Add to that (or subtract from it!) the limited utility and maintenance costs associated with small living, and we’ve got most of the financial benefits of small living accounted for.

So much money can be saved right here that I can say with some certainty that there are loads of people out there who don’t identify as small-housers, (or even know that such a thing as the small-living movement exists) who nevertheless choose to rent or purchase tiny apartments or houses simply because they cost less; the money they’re not spending is instead salted away or put to better use.

Minimized Consumer Spending

This is probably the second biggest financial benefit to small living. The small house, as we have all no doubt observed, offers scant quarter for superfluous items, (so little in fact that it may present a bit of a problem when Christmas or birthdays roll around, because one can begin to dread the presents purchases by clueless but well-intentioned loved ones.

giant bear

“Um. Thanks?”

So obviously, the small-houser is prohibited from excessive consumer spending simply by virtue of space issues. This should contribute to financial strength.

Simple Living, Organization, and Finance

I’d LIKE to think that the practical steps taken when moving towards the simplicity and organization that the small house demands would have salutary consequences in the realm of financial organization, budgeting, and spending etc. This is however, merely a speculation on my part. Financial discipline is it’s own realm, but I can see it going hand-in-hand with the discipline of small-living.

One Response to “Financial Benefits of Small Living”

  1. The Everyday MinimalistNo Gravatar says:

    Here’s another great financial benefit to small living

    Instead of being able to store 100 pairs of shoes, you are able to just pick out the 20 of your favourites and sell the rest to make some cash :)