How "cheap" are you actually living?

[Uncle Todo]

After being on here a bit and seeing some of the equipment people are using, I've realized some aren't living so "cheap"! 
I guess it's all relative though...
I paid $2500 for my van
My house electric when it's all said and done I'm guessing will be around another $2500
And I'm guessing maybe another $1500 or so to build out and various other things for the interior.
I'll have to make a running build/expense sheet to better track costs.

 

[bullfrog]

As you say cheap is relative. Buying a sticks and bricks or even property with utilities is so expensive now that there are many nomadic options that are cheaper. It is still possible to spend more being a nomad but not as easy as it used to be and the gap is getting wider in my opinion.

 

[Freelander]

I have seen all kinds of cost estimates, if you finance everything the cost goes up a LOT. Some of the full time RV's with Class A pushers can easily spend more every month than some of us make.

For me when I was looking at buying my RV, maintenance costs was one of the first things I looked at. Things like size of the tires on the rig, the bigger the tire the higher the replacement cost, I looked at gas vs diesel, gas is cheaper and easier to find. I looked at length, shorter is easier to move around. I looked at other options like 30 amp vs 50 amp service.

Just create a list of what you really need vs what you would like to have, and then start checking off the stuff you REALLY need.

You would surprised at how small you can make the list.

 

[RoamerRV428]

I get the question but I never can put this as 'an all' in what our lives and financial situations are for any of us.
Living on your last dime to me is never a 'good' thing ya know..........do we all need to live and try to thrive within our $$ we have for us, yes......so the low cheap can we go is never a good thing to me. Just do the best you ever can with the finances you have is what I kinda think.

Kinda like that spend your saved money and your life journey as required or you see fit in your life kinda thinking.

I won't be you and you won't be me and others won't be us at all when it comes to finances on the road ya know.

 

[bullfrog]

Going into debt and living beyond one’s means is what led many to a forced nomadic life. Turning that around is what this site is all about for some but for others that were just surviving that were able to compromise and learn to live simply it allowed them to adventure and do more than just get by on what they had.

 

[Freelander]

Yep, I defaulted on 2 Credit Cards some years back, and it took about 10 years before my credit score corrected itself. I leaned my lesson, but on the other hand of you don't have at least 1 loan it knocks your credit score way down. As of right my both my car and house are paid for, but I still own on my RV, I can pay it off, but I need to Credit the keep my score higher, it sucks it be punished for living within your means.

 

[Spaceman Spiff]

There are two different questions here:
 -1- How much does it cost to set up a mobile lifestyle?
 -2- How much does it cost to live a mobile lifestyle?

These are my costs for both:

Setup:
I paid $23,000 for a 2012 Ram 2500 4X4 seven years ago
I paid $500 for an old pickup camper.
I have < $2000 in repairing, building and outfitting the camper for extended living (2014 prices).

• about $800 in electrical: 200W solar, 208AH GC2s, PWM controller, and all the other stuff.
• $150 in a dorm refrigerator, $75 for a 500W, PSW inverter
• ~ $250 for a MaxxFan.
• ~ $350 for a cell booster
• ~ $500 for all the other stuff for my build.

Monthly costs:
I spend $1600/month for everything (except my S&B).

• It costs me 46¢/ mile to drive my rig (everything except the cost of money)
• $250 month for food (I eat simply but healthy)
• $120 in medical costs per month.
• beagle cost ~$75 month.
• ~ $50 month for camping fees, etc.

This year has been different: I have been 'sheltering in place' most of the year (I have only been on the road for ~ 2 months).  But except for the cost of traveling and camping, my costs are the same.

 

[vanbrat]

Not cheap at all, we plan to stay in our stick and brick home, but since we've been here for soooooo long we did a reverse mortgage and now 0 house payments, just taxes and up keep. And our utilities are not to bad except Dec. through Feb. We grow some of our own foods and hit the thrift stores for most stuff first. Also rent out gardens for events and plan to work through most traveling things once the world opens up again.
Hubby is retired and I still work part time sub work. That means if I don't want to work I don't answer the phone or tell them nope not today. Our biggest outside the box stuff is Doc stuff. Well travel stuff, as not yet working on the road. We are working on it though.
Mostly we are spending our kids inheritances... sorry kidos ya gotta earn your own.

 

[Uncle Todo]

Some good dialect going on here.
For me, I don't own a home, and currently stay with my sister almost rent free.
I've been struggling with alcoholism the last several years, and more or less on the winning side of that battle now and want to move on to another chapter in my life.
I've been dreamasizing about van life for several years as well and with all this covid stuff, plus my previous vehicle hitting 200k miles and already having engine and trans replaced, I decided it was time to look for something else.
I was open, looking for motorcycles, Jeeps, and vans. I got a good deal on a van locally and decided time to do something more on the van life notions.
While i haven't spent a great deal, it is a fair bit for me, but I feel wisely spent. Unless of course you consider spending money on a van to live in unwise lol
For instance, one example, I decided to go LiFePO4 over AGM for more usable AH and less space for said usable AH.

It's a great forum here, I'm glad I stumbled across it.
Thanks all!

 

[maki2]

If you compare it to monthly rent and expenses in a pricey city where you are under employed for income then it is downright cheap living.

 

[Firebuild]

but on the other hand of you don't have at least 1 loan it knocks your credit score way down. 

That kind of circular problem is why I don't plan to use credit anymore at all: they encourage you to live beyond your means and then punish you for actually doing it. I used to be so bummed out that no one would give me a huge line of credit, but I'm grateful I never had a credit card balance higher than $250. Now it's been so long since I used credit I don't even have a credit rating at all. Literally. I'm just gone from the list.

 

[Freelander]

I do have 2 cards, but I keep the balance low, and payed off every month, being out on the road the Card is there for emergencies.

One of the cards they just raised my limit, great,...not.

 

[Uncle Todo]

I declared bankruptcy a little over a year ago and have since built up a decent rating but not all too worried about building it further.
I have three credit cards, one is a secured card and only use them for regular purchases and pay off the balance every month.

 

[crofter]

I spent $22k to replace my 4x4 pickup with a 2017 RAM Promaster 1500 cargo van, so I could stand up in it. 

I spent $750 on the build out, not including camping gear I already had from my setup in the pickup.

I built an insulated bulkhead with locking door for stealth, privacy, and a place to mount things. I mounted my solar controller on the bulkhead on the cab side, as well as coat hooks above the passenger seat for drying things. The cabin side of the bulkhead has hooks for my "closet" on one side, and secures the back of my "kitchen" cabinet on the side near the cargo door.

I built a freestanding bed in the back (not supported by the walls) with storage underneath. At the rear is a small garage 5x2x2 where the generator, water buckets, tools, shovel, sand ladders, firewood, folding table, etc are stored. Also has access to one of the saddle bags (saddle bags are storage areas over the wheel wells). I store 6 gallon water jugs and drinks in this saddle bag. 

I did not include powered refrigeration, plumbing, or electrical beyond a solar panel on the dash to run the Maxxfan and a couple luci lights, a shore power strip for when I have shore power.

The rig works great for camp hosting and general camping and trips. I am usually out for 6 months with weekly trips to town. I was hoping to use an outside shower when travelling, but that never works out so I do a Basin bath inside. I did use my shower tent as a safety shower during my camp hosting job (nasty forest service chemicals).

I invested in Ryobi battery tools, which I charge up at places like the library or the laundromat. Battery drill and battery air compressor are indispensable. I even had a Ryobi weed whacker for use in maintaining the campground (short lived for a weed whacker I do not reccomend). I have an inverter which I never use. I got a bigger inverter and I don't use that one either.

I own a Ryobi generator which I used frequently in the pickup, but rarely in the van.

I invested $17k in a home base to have a shaded carport for the van (its AZ, you do need shade from time to time). I spend 5k for rent and utilities on the home base, which includes security, a pool, and mail forwarding service etc.

My startup cost was $22,750 for the van. My startup cost for the home base was $20k including about $3k in repairs. Annual budget for everything is $8k.
-crofter

 

[wayne49]

I don't have any loans or leases currently and haven't had any since June 2015. I do have a credit card for convenience that is paid off monthly. I have what they term as excellent credit. My credit score has gone up since I retired.

I would suspect the source, saying that one needs an open loan, is a shill for the credit industry.

Debt is USA's biggest domestic product. "Money for Nothing ..."

 

[Uncle Todo]

I took out a small loan to buy my van with the thought of perhaps boosting my score. Loan is through my bank which deducts payments automatically, half payments twice a month. I keep enough money in my reserve reserve to pay off it off just in case.

As of now it doesn't look to have made an impact either way other than a small hit from the credit check. I did see on one site that it could impact credit being I'd only paid down a small percentage as of yet.

 

[Freelander]

I tried it both ways, with and without a open loan, and if you do need a loan and don't have a credit history your interest rate goes way up. When I needed to by a new car, I was stuck with a high interest rate because of no or poor credit history. A car is one thing you can buy with bad credit, because they have something they can reprocess if your default. My interest rate on my RV is 7.4 percent which is high, because I had no credit history.

Try getting a signature loan with no credit history.

 

[Freelander]

The thing to remember the Bankers don't make any money from the loan, they are not loaning you THEIR money, they are loaning money others have deposited in the bank, the Bankers make money off the INTEREST from the loan. You pay cash the bankers make nothing, you take out a loan the bankers collect the interest and keep that.

 

[crofter]

Just a note on my previous post: the prices for parked rigs with carports is low right now in AZ for economic reasons, and many are for sale. If you have to move it, you should not pay much over $7k, the dealer price. The parks are motivated also, and discounts on the rent can be had. As with everything: prices subject to change, so buy low and sell high.
-crofter

 

[tx2sturgis]

I'm living pretty cheap....but some of the rigs that stay here overnight cost 5 to 10 times what this property cost!

You CAN live cheaply in a stick-n-brick, but it will probably be a stick-n-brick 'in the sticks'...like mine!