The dreaded ‘D’ word can cause a ton of stress, sickness and sadness for those who are stuck in it. We're talking about debt, and according to Experian, 340 million Americans are currently carrying some form of debt. Whether it's credit card debt, student loans, or mortgage debt, debt can quickly consume your life. But it doesn't have to! Many Americans are leaning toward skoolie life to transform their lives and break free of debt.
Getting Started with Skoolie Life
Working with Phoenix Skool Buses grants you plenty of options on what your new skoolie can be in terms of design and square footage. Of course, it's a smaller space than a traditional home, which means intrinsically subscribing to minimalism and getting rid of non-essential items. Typically, people will do a big sale of unnecessary items, bringing in some cold hard cash. But, more importantly, if you're someone who has a strong consumer mindset, skoolie life will help you reconsider and learn to cherish moments and experiences over material items. By spending less on material things, you can reconfigure your budget to put towards your debt repayments each month.
The most monumental change skoolie life will bring to your financial status will be freeing up your cost of living. The average American pays nearly $1,400 in rent a month and $1,100 in mortgage payments, which varies from state to state, on top of monthly utility bills which can tack on another $600. Freeing up this amount of money makes a massive difference! Many people are able to pull back their expenses and spend 80% less.
When moving into a skoolie, people tend to sell their cars. This means slashing car payments, insurance, parking costs, gas, and upkeep. Of course, you have to pay for insurance for the skoolie as well as for diesel, but these amounts vary and can be done cheaply. The amount of diesel you require will come down to how much driving you do and whether or not you add solar panels (we recommend this!).
Camping Costs
You will need somewhere safe to rest at night and depending on your personal preference, you can spend anywhere from $0 - $100 per night.
Many places allow you to park for free across America, including:
Casinos
Walmart
Dispersed Land
Bureau of Land Management Land
Friends and Families Land
Rest Stops
County, State Parks and some National Parks
Many Cracker Barrels
Campsites
Break Free Of Debt
If you’re dealing with significant debt, downsizing and living in a skoolie can be the answer to reducing your expenses and freeing up extra money to repay your loans. It helps to consider your goals and priorities. By trading a few modern “luxuries” for not being chained to your debt, this could be the right decision for you. Plus, you will get to travel and take your home with you while reducing your debt which provides freedom and flexibility. Embrace debt-free living with skoolie life! Contact us to learn more.