3 Ways Living In A Small Space Helped Us Save Thousands

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If you’ve been around here for a little bit you may know that Greg and I live in a small one bedroom apartment above a garage. There are many things about it that we love but of course it’s still quite a small space for Greg and I, especially when both of us work 75% from home.

So you may wonder why we haven’t made a move to a bigger space yet when we technically could afford it.

Well Greg and I have a dream of owning our own home, a dream that four years ago we thought was going to happen any minute. But it turns out we were not as ready as we thought and just overall the timing wasn’t good.

So a year into looking we moved from our two bedroom apartment into this one bedroom space to save some money, thinking we'd only be here for six months before we found our home. But that six months turned into over 3 years and we are still here working towards that goal.

To us it makes no sense for us to move until we can buy because who wants to move more than they need to and put more money (a bigger payment for a bigger space) into somebody else's pocket!

So even though the road we live on is a main street in the middle of major construction (it shakes our apartment from time to time) we stay here, save money and work towards our dream.

In today’s post I wanted to share with you how living in this small space, has helped us save so much more money than any other place we’ve lived, in hopes that you too may find your small place to help you save towards your goals. Let’s do it!


3 Ways Living In A Small Space Helped Us Save Thousands

1. Your Electric Bill is Much Smaller

The obvious way you save more money from living in a smaller space is that it costs a smaller amount of money to live there, whether it is rent or your mortgage. But more than that you’ll save money on your other bills as well, specifically electric.

In a smaller space you have less lights. In smaller space you have less heaters and less space to warm with those heaters. This might seem small but an electric bill can easily sky rocket if you don’t pay close enough attention to it.

Having a one bedroom apartment has made it easier for our heat bill to stay down because we don’t have that much space we need to keep warm. We’ll usually close the doors to the bedroom and bathroom and turn on the heat for the living room when we are spending time out there. Then before we go to sleep we’ll occasionally turn on the heat in their and close the door so it gets warm for us right before bed. As much as I want a house I’m not looking forward to the electric bill that will be attached to that extra square footage.


2. Less Things Fit In Your Space

If you have a blank wall, you’ll add to it.
If you have an empty room, you’ll fill it.
If you have an extra cupboard you’ll clutter it.

Until we are forced into small quarters we never really realize how much stuff we have. When you live in a small space there is only so much stuff you can accumulate. You’d be surprised at how this saves you money!

There have been multiple times where I’ve wanted to purchase something but we didn’t have the space for it so I had to forgo the item. But usually when I look back it I realize it wasn’t anything that we are missing from our life, it was usually just a random extra thing to fill space.

Living in a smaller space for us has helped us buy less things and save our money instead. We don’t just fill blank space when its there because we usually need that blank space so that it doesn’t look so cluttered in such a small apartment!


3. Your Mindset About Money, Space and Things You Need Change

These days it might seem like a cop out to talk about your “mindset” because I feel like that topic is getting a little saturated these days. But for our experience our mindset with money and things truly changed with a small living place.

When you live in a smaller space with less stuff you realize what it is you actually really use and need to live with in life. You realize all the extra things you spend your money on that do not matter or don’t fit an actual need you have.

I know for a fact that after the experience of living in a smaller space, when Greg and I do move into a house (that will most likely be a bit bigger than where we live now) we will not fill it unnecessarily. We won't spend our money on things for the house that don’t actually get used or bring joy to us. The way we look at our spending and finances has changed so much from living in a smaller space that we will now always be saving money (even when we move somewhere bigger) because of it.


I hope this gives you guys a little inspiration for how you can save some extra money living in a smaller space. If you are looking to downsize I couldn’t recommend it more! Whether it's to save money, get out of debt or just live more minimally, I think it will refresh not only your finances but your perspective.

Talk soon!