Savings Goals and Plans

[Seajatt]

For those living out of vehicle, and working, how has saving money been for you? Do you feel the lifestyle has been beneficial to meeting financial goals?

My hope is to purchase an inexpensive plot of land, and build a cobb house. That takes money however, and I cannot think of a better way to save money than to convert a van.

I'd love to hear about your thoughts and experiences!

 

[bullfrog]

A lot of it will depend on where and what type of work you do. Remote locations cost more to live in than small towns or large cities depending on your abilities, mode of resupplying and state of health. In many cases staying in one place is easier and cheaper than moving especially if you cannot organize and live simply. For some it works really well but is usually not their main focus which is travel and exploring new areas of the country. If your main income is able to be made while on the road it really helps.

 

[RoamerRV428]

thoughts are also this is not enough info in a way....like how much do you have and how much money will you need to buy land and build? are we talking a year or 2 in a van or are ya needing 10 yrs in a van?

then it is can you handle van life?
have you a desire to live in a van? and all those questions

but I take it you think you can do it cause you are considering it

life on the road will be a lot cheaper in that you are not paying rent. You save rent but is life on the road be boondocking or renting campground sites?

Mostly it is what are you willing to spend while living in your van....how you live will determine your savings.

Food is food mostly. If you want to eat the same way now as you are, then food costs won't drop much. So that cost will probably be around the same as it is now unless you make drastic cuts.

Van cost, insurances, money for repairs, gas costs. All to be figured in.

Living costs if you are still working a job....like are you eating out at lunch? Are you having to drive to work, added fuel costs maybe? needing new clothes specifically for work?

We can rv so cheap or we can spend some bucks. We boondock some trips and never eat out. Costs are still higher than one would think being that we are 'going more free' and 'controlling costs' in that situation. When we rent campground sites and be all touristy and spend bucks, trips can get expensive definitely.....so.....it is all about you and your situation truly on how this can go down for ya and how much change in lifestyle you can handle

we are doing the reverse now....we are going to sell our paid for home and lands and take that money on the road for freedom. You are in a home/apt/rent/own? and want to find ways to save more money to buy and build your desired dream. So I think it boils down to how much money are ya talking and how many years if this is a good plan. Money savings can be achieved also in a lot of different ways without going dramatic but again, it is all about you want to live while achieving money bucks for your final goal.

 

[Riverman]

Many think they can buy an older vehicle, hit the road and live dirt cheap... well it usually doesn't happen in the long run.

Keeping a vehicle serviced and in good repair, insurance, tires, gas and breakdowns cost lots of $$$$. Way more than just riding around town and to work every day.

It's real easy to spend $100 a day while traveling on long trips. We broke down on a bus one time, the after-hours wrecker bill was $1500 for 40-miles. Pay the bill or they keep the vehicle until you do.

So, save all you can and plan way ahead. It seems like saving $200 a month is nothing anymore.

 

[Riverman]

I meant to add, getting a deal on some land and living on the land is a wise investment.

Best wishes.

 

[ped]

Well many, most frankly of overspend substantially. To the point of jaw dropping.

For example insurance on an RV is $10-12 a month. Tires can be bought and online or used for very cheap. Mine were $66 new from pep boys. Changing a tire by hand is pretty easy, especially van tires with large sidewalls.

Many do not want to pull a trailer with proper tools and spares. So they expect to spend $1000 on a stuck brake caliper or leaking radiator.

Many buy $1k generators and/or 1kw of solar and massive batteries when a $90 harbor freight generator and $100 bank will get you more than you will ever need.

Many want to burn the roads down. Staying 1-3 nights then driving several hundred miles. To me thats seems to suggest theyre not really comfortable being in their rig and not admitting it. You dont need nowhere near that much fuel. You could get away with 10, 15, 20 gallons a month legally. Maybe less.

From what ive seen 95% spend more to live in a van than i have ever spent renting an apartment and working full time. Often by a factor of 1.5x. They are spending what they get in monthly checks and cannot fathom doing it on less.

This is NOT true. You can live in a van for $50-100 out of pocket a month (legally i.e. not over staying) if youre clever, know how to cook from scratch, can stay 14 days in one spot, and be without internet.

 

[ByeBye]

I envision a remote acreage, off grid as headquarters for my respite from my chronic Wanderlust. The land can be found and had for, relatively speaking, pretty cheap for a few thousand down and owner carry in the Southwest. Lots and lots of variables to take into consideration most have to do w/ personal preferences and your abilities to be self sufficient.

So far I've embraced the minimalist mindset, ridding myself of most wants and keeping what I need, unplugging from consumer/pop culture mindset and getting rid of debt. Huge things for me. When I travel, to keep overhead down, I don't embrace the 'scarcity' mindset, glass half empty, instead I focus on simplicity, cheaper isn't always the wisest and that quicker isn't always better. I'd rather prepare my own food as to have a business do it, I very rarely eat out.

While I'm still a newb with little time in my rig I don't travel just to be driving. I drive 58 mph, in the perfect world, and take secondary roads unless just completely impractical. All this helps keep me in the mindset of practicality and out of the mindset of excess which, at the end of the month, stretches my small income a long way, I find.

 

[WanderingRose]

Well many, most frankly of overspend substantially. To the point of jaw dropping.

Many want to burn the roads down. Staying 1-3 nights then driving several hundred miles. To me thats seems to suggest theyre not really comfortable being in their rig and not admitting it. You dont need nowhere near that much fuel. You could get away with 10, 15, 20 gallons a month legally. Maybe less.

You can live in a van for $50-100 out of pocket a month (legally i.e. not over staying) if youre clever, know how to cook from scratch, can stay 14 days in one spot, and be without internet.

With all due respect, costs and expenses largely depend on what one wants and needs out of living/traveling in a house on wheels.

Some want to see and explore the entire country, others merely to live as inexpensively as possible.

Also a huge factor, the disposable income available for living/traveling.  Some have more, some have less, for whatever reason.

FWIW, I have lived at the very bottom of the food chain, can (and have) squeezed blood from a turnip to survive and feed two children.  Not fun, but many lessons learned.

And, in my experience, it’s not the fuel costs that’ll get ya, as they can be easily managed, its the repairs, maintenance and upkeep of one’s vehicle.

Just my two cents.

 

[Seajatt]

A lot of it will depend on where and what type of work you do.  Remote locations cost more to live in than small towns or large cities depending on your abilities, mode of resupplying and state of health.   In many cases staying in one place is easier and cheaper than  moving especially if you cannot organize and live simply.  For some it works really well but is usually not their main focus which is travel and exploring new areas of the country.  If your main income is able to be made while on the road it really helps.

I will be stealthing in the city, and boondocking as time allows. I'm a veteran, and get paid to go to school. It would be silly of me to not utilize the GI Bill. So I'll be sticking around the cities, likely in Florida, and doing my best to save. I'm no fan of debt, especially with interest rates. Debt, probably more than stagnant wages is probably a reason so many Americans just don't have any degree of financial fluidity. Financing something generally leads to paying for it twice-over.

 

[Seajatt]

thoughts are also this is not enough info in a way....like how much do you have and how much money will you need to buy land and build?  are we talking a year or 2 in a van or are ya needing 10 yrs in a van?

then it is can you handle van life?
have you a desire to live in a van? and all those questions

but I take it you think you can do it cause you are considering it

life on the road will be a lot cheaper in that you are not paying rent.  You save rent but is life on the road be boondocking or renting campground sites?

Mostly it is what are you willing to spend while living in your van....how you live will determine your savings.

Food is food mostly.  If you want to eat the same way now as you are, then food costs won't drop much.  So that cost will probably be around the same as it is now unless you make drastic cuts.

Van cost, insurances, money for repairs, gas costs.  All to be figured in.

Living costs if you are still working a job....like are you eating out at lunch?  Are you having to drive to work, added fuel costs maybe?  needing new clothes specifically for work?

We can rv so cheap or we can spend some bucks.  We boondock some trips and never eat out.  Costs are still higher than one would think being that we are 'going more free' and 'controlling costs' in that situation.   When we rent campground sites and be all touristy and spend bucks, trips can get expensive definitely.....so.....it is all about you and your situation truly on how this can go down for ya and how much change in lifestyle you can handle  

we are doing the reverse now....we are going to sell our paid for home and lands and take that money on the road for freedom.  You are in a home/apt/rent/own? and want to find ways to save more money to buy and build your desired dream.   So I think it boils down to how much money are ya talking and how many years if this is a good plan.   Money savings can be achieved also in a lot of different ways without going dramatic but again, it is all about you want to live while achieving money bucks for your final goal.

I envision I'll be in a van for the next 5-7 years. I'll save my money while in school and working, and possible graduate school. And with that, I should have enough saved to outright purchase a plot of land, say around 10 acres, and then build my home. At present, I'm renting with housemates on the cheap. I had some debt to take care of, long story there, but have nearly paid it off.

But yes, saving money is the main goal. I figure the freedom and travel are just great perks that go along with it.

 

[Seajatt]

I envision a remote acreage, off grid as headquarters for my respite from my chronic Wanderlust. The land can be found and had for, relatively speaking, pretty cheap for a few thousand down and owner carry in the Southwest. Lots and lots of variables to take into consideration most have to do w/ personal preferences and your abilities to be self sufficient.

So far I've embraced the minimalist mindset, ridding myself of most wants and keeping what I need, unplugging from consumer/pop culture mindset and getting rid of debt.  Huge things for me. When I travel, to keep overhead down, I don't embrace the 'scarcity' mindset, glass half empty, instead I focus on simplicity, cheaper isn't always the wisest and that quicker isn't always better. I'd rather prepare my own food as to have a business do it, I very rarely eat out.

While I'm still a newb with little time in my rig I don't travel just to be driving. I drive 58 mph, in the perfect world, and take secondary roads unless just completely impractical. All this helps keep me in the mindset of practicality and out of the mindset of excess which, at the end of the month, stretches my small income a long way, I find.

 
I agree! I believe minimalism is the ticket in this day and age. Debt is something to be avoided, and credit is something to use only in true blue emergencies. Wages stagnate, housing, school, and medical expenses continue to climb. I believe living small is the only rational answer unless one wants to build themselves a nice shiny cage made of debt. Or, surrender their agency to ensuring rent is paid monthly.

 

[Seajatt]

Well many, most frankly of overspend substantially. To the point of jaw dropping.

For example insurance on an RV is $10-12 a month. Tires can be bought and online or used for very cheap. Mine were $66 new from pep boys. Changing a tire by hand is pretty easy, especially van tires with large sidewalls.

Many do not want to pull a trailer with proper tools and spares. So they expect to spend $1000 on a stuck brake caliper or leaking radiator.

Many buy $1k generators and/or 1kw of solar and massive batteries when a $90 harbor freight generator and $100 bank will get you more than you will ever need.

Many want to burn the roads down. Staying 1-3 nights then driving several hundred miles. To me thats seems to suggest theyre not really comfortable being in their rig and not admitting it. You dont need nowhere near that much fuel. You could get away with 10, 15, 20 gallons a month legally. Maybe less.

From what ive seen 95% spend more to live in a van than i have ever spent renting an apartment and working full time. Often by a factor of 1.5x. They are spending what they get in monthly checks and cannot fathom doing it on less.

This is NOT true. You can live in a van for $50-100 out of pocket a month (legally i.e. not over staying) if youre clever, know how to cook from scratch, can stay 14 days in one spot, and be without internet.

I can't speak so much for what other's do, but I believe with thoughtful decision-making, comes longer-term rewards.

 

[Seajatt]

With all due respect, costs and expenses largely depend on what one wants and needs out of living/traveling in a house on wheels.

Some want to see and explore the entire country, others merely to live as inexpensively as possible.

Also a huge factor, the disposable income available for living/traveling.  Some have more, some have less, for whatever reason.

FWIW, I have lived at the very bottom of the food chain, can (and have) squeezed blood from a turnip to survive and feed two children.  Not fun, but many lessons learned.

And, in my experience, it’s not the fuel costs that’ll get ya, as they can be easily managed, its the repairs, maintenance and upkeep of one’s vehicle.

Just my two cents.

Repairs and mechanical failures are probably my two biggest hesitations. Success in van life for me, will be measured in two ways: Am I enjoying life? Am I saving money? If those two questions are not a resounding 'yes' - something will need to change.

 

[ped]

With all due respect, costs and expenses largely depend on what one wants and needs out of living/traveling in a house on wheels.

Some want to see and explore the entire country, others merely to live as inexpensively as possible.

Also a huge factor, the disposable income available for living/traveling.  Some have more, some have less, for whatever reason.

FWIW, I have lived at the very bottom of the food chain, can (and have) squeezed blood from a turnip to survive and feed two children.  Not fun, but many lessons learned.

And, in my experience, it’s not the fuel costs that’ll get ya, as they can be easily managed, its the repairs, maintenance and upkeep of one’s vehicle.

Just my two cents.

Thats hard to buy because theres plenty of threads over the years of people asking if their $1200 SS check will be enough. Most say doubtful...LMAO

its just moving the goal post from living in a vehicle to travelling full time. The entire point of this website from the start is about people in a bad economy making it living in a van.

 

[ped]

And no its not really personal. Theres a base standard for all due to stay limits. We dont have to move generally 14 days. We all generally need the same nutrition, mpg is generally the same...or certainly not a 10x difference.

 

[Riverman]

As stated above... "For example insurance on an RV is $10-12 a month. "

Show us some $12 a month RV insurance and EXACTLY where to get it.

Thanks

 

[Riverman]

Let me ask this in a more kind way...

We all want $12 per month RV insurance... Please tell us where to get it.

Thanks

 

[lenny flank]

I can only speak to my own experience .....

I spend typically about $1000/month to live in a van fulltime and travel around the country. That includes luxuries like eating out at least once every day, and a LOT of visits to zoos, museums, parks, and anything else I want to visit.

"Saving money" isn't a particular priority with me, though. I'm more interested in visiting places and seeing things. It's a big country, I want to see all of it, and van-traveling is the most flexible (and most interesting) way to do that.

 

[Dingfelder]

Lenny -- how much do you put aside each month for an emergency repair fund, or other type of emergency fund?

I sometimes think of my future plans and notice this dangerous habit of figuring out everything but bad luck, much less significant illness or other disaster. It seems to me it if it is so easy to mislead myself even when I think I'm being Mr. Smarty-Pants, it is probably a trap plenty others fall into.

 

[Dingfelder]

Well many, most frankly of overspend substantially. To the point of jaw dropping.

For example insurance on an RV is $10-12 a month. Tires can be bought and online or used for very cheap. Mine were $66 new from pep boys. Changing a tire by hand is pretty easy, especially van tires with large sidewalls.

Many do not want to pull a trailer with proper tools and spares. So they expect to spend $1000 on a stuck brake caliper or leaking radiator.

Many buy $1k generators and/or 1kw of solar and massive batteries when a $90 harbor freight generator and $100 bank will get you more than you will ever need.

Many want to burn the roads down. Staying 1-3 nights then driving several hundred miles. To me thats seems to suggest theyre not really comfortable being in their rig and not admitting it. You dont need nowhere near that much fuel. You could get away with 10, 15, 20 gallons a month legally. Maybe less.

From what ive seen 95% spend more to live in a van than i have ever spent renting an apartment and working full time. Often by a factor of 1.5x. They are spending what they get in monthly checks and cannot fathom doing it on less.

This is NOT true. You can live in a van for $50-100 out of pocket a month (legally i.e. not over staying) if youre clever, know how to cook from scratch, can stay 14 days in one spot, and be without internet.

I love the basic thrust of your post and it's the kind of thing I would normally leap on and be quick to cheer.   I do think there is some exaggeration, though, which is not helpful.

Solar only helps if you have sun and a 90 buck generator does very little, plus costs a lot of gas to run.  It gets blazing hot here and there's not a lot that can be done about it indoors or outdoors without spending a lot of money -- and there is a great deal of the USA that applies to.  A 90 buck generator wouldn't do anything for me, and I'm not even very far south (Oregon) or low-lying.

Living on 50-100 a month is not at all easy.  How much is left for food?  Food-wise, unless you live on gruel, it's a a very close call even if yo spent that 50-100 on nothing else but food, especially if you are a full-grown male.  I can cook for myself, and very well, and have often cooked for others and gotten plenty of high praise for it.  So I'm no trained chef but I know what I'm doing.  And I have modest tastes built-in from a lifetime of modest living.  I used to eat so little in college that my financial aid wasn't approved because they told me my income and assets sheet must be wrong because nobody could live on so little.  I got by on a can of vegetables and some rice a day and often felt like fainting.  So I know what it is to live and be poor.  Today you can get a can of peas for about 80 cents and rice is almost free.  But rice is almost nutritionally worthless and a can of peas divided by three meals amounts to what you can get by on when you want to live your life feeling like fainting from just walking around.  How close to that does anybody really want to come?  That's right in the middle of third-world territory, if not worse.

Internet -- oof, I'll give you that.  It is way too expensive and even more so when mobile.  

And like I said or implied, people over-spending, even on nonsense, is close enough to the norm that we might as well call it the average way of living.

But that still doesn't mean you can get along with next to no money in a first-world country for long.  The benefits of living in a first-world country are enormous, but so are the costs for even a very moderate lifestyle.