Couple becomes mortgage-free after moving into boat: ‘We are saving so much money!’
The cost of living is still an issue for many households but families are still finding ways to become mortgage and rent-free while saving in the process.
One couple is sharing how they were able to beat the cost of living crisis and save a lot of money thanks to their unique lifestyle.
Scott and Sandy Trevethan swapped their Melbourne, Australia apartment to live on a sailing boat.
The couple no longer has to worry about rent or mortgage payments and has been able to make big savings as a result.
Purchasing a boat for the equivalent of around $71,000, the pair spent $47,000 renovating it to make the vessel their new home.
As the CEO of Financial Fanatics, Scott was able to use his accountancy skills in order to make their boating dream a reality.
Expert Victoria Scholar on difference between saving and investing
Despite living at sea, the couple are still able to work full-time Mondays and Tuesdays from wherever they are.
Among the places they sailed to were Eden, then Sydney, Port Macquarie and onto the Whitsundays.
According to Scott, the decision to live on the boat has been a money-saving success which has allowed them to avoid the usual expenses households pay.
He explained: “We are saving so much money. We can buy those things that make life worthwhile again.
Don't miss...
‘Very high’ interest rates causing Americans to spend less [LATEST]
‘I bought a bedroom essential from Goodwill for only $5 - it could be worth $30’ [LATEST]
Teacher saves over $1,000 a month after moving to Alaska [LATEST]
“Even though marina costs can be expensive with no rent or mortgage hanging over our heads there’s no worrying about cost-of-living pressures anymore.
“We prefer going on anchor which is free. You have an amazing community of fellow sailors around you and you can even catch the odd fish for a free meal.
“The view is spectacular every morning and we like to move around so it changes a lot too. The feeling of freedom is amazing.”
Thanks to their unique way of living, the couple are not in need of a lot of clothing as storage is an issue and grocery bills have come down a lot in cost.
Furthermore, Scott and Sandy are not in need of a car which is another payment they do not have to worry about.
Scott added: “We have a budget for living expenses such as marina fees, groceries, alcohol, dining out etc and transfer that to a separate working account each month.
“It's easy to see how you are tracking then by just looking at your bank balance.
“Most months we underspend what we allocate, and we live really well. If you follow this system, you can't overspend your budget and you can see when you need to pull in a bit.”
Follow our social media accounts here on facebook.com/ExpressUSNews and @expressusnews.
