I wanted to get this post out to you after reading Michael’s write up called Consider a Tiny House Backup Plan over at Tiny House Design.
Although this is nothing new, and it has been happening now for several decades, it’s something you and I should be aware of. Better yet, I’d like to leave you with ideas that you can take action on to come out stronger over the years.
For me, the tiny house movement isn’t just about extremely small homes because that’s just impractical for a lot of us. It works for some of us, but it won’t for a lot of people, especially families.
So the other message I like to get across to folks is to simply live within your means and that’s what the small house movement encourages you to do. So whether you decide to live in 2,000 square feet or 200 square feet, it’s really about resisting the urge to over extend ourselves when it’s most enticing.
It’s about staying put after you receive a pay raise. It’s about resisting the urge to upgrade your car when you receive an unexpected bonus. It’s about being satisfied with your 37″ LCD television when there’s a great deal on a 47″ one.
It’s saying “no thanks” when your bank offers you a low interest loan because you’ve built equity on your home over the years. But why? Because if you can resist all of these temptations you’ll be ready to take advantage of moments where you can have your money work for you instead of the other way around.
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If you can resist all of that, over the years, you’ll find yourself with an abundance of cash that you can use to take advantage of opportunities while others wish and dream they could. Even if it means ignoring the rest of this post and just making a couple of extra payments on your debts every year so you can pay them off faster.
But if you’re a little more ambitious, here are some ways to beat inflation with the extra money you save thanks to simple living, tiny house living, or simply living within your means consistently:
- Acquire a rental property that you can rent out for a profit every month
- Buy stocks in your favorite publicly traded companies
- Purchase precious metals like silver and gold that increase in value over the long run
- Buy bonds, ETFs, or mutual funds and enjoy better returns with little to no management
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