Marek and Ko Bush decided to move into a tiny house to pay off their debt.
They sold their furniture so they could downsize, and they secured a low-interest personal loan to purchase the $55,000 tiny house.
Two years later, the couple is now debt-free thanks to a budget and their low-cost lifestyle.
In the future, they hope to use the tiny house as a second source of income or to sell it and use the money as a down payment on a traditional house.
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Some tiny house owners downsize to travel the country or to minimize their belongings, but one couple decided to move into a tiny house to pay off their six-figure debt.
In 2017, Marek Bush, who works in retail security, and Ko Bush, a teacher and waitress, realized they were around $100,000 in debt. They decided to move into a 200-square-foot tiny house, and two years later, the Bushes, who are both 28, are completely debt-free.
Take a look inside their tiny house and see why they call it a smart financial move.
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In 2017, Marek and Ko Bush were living in a fancy loft apartment in Florida when they decided to make a lifestyle change.
At the time, they were living in a two-bedroom, two-bathroom apartment with all “the bells and whistles,” including granite countertops and key fob entry.
“We woke up one day and realized how completely we were in debt,” Marek Bush told Business Insider. “We decided we were going to pay off everything we owed.”
They started putting a budget down on paper and figured out a plan to save money over the next few years, but they still had one major problem.
“We were like, ‘How are we going to get serious about saving …read more
Source:: Business Insider