You are using an older browser version. Please use a supported version for the best MSN experience.

How tiny living helped a couple pay off more than $200,000 in debt

GOBankingRates Logo By Cameron Huddleston of GOBankingRates | Slide 1 of 11: Lots of people try strategies like cutting their household budget and using debt consolidation to pay off what they owe. But when Garrett and Claudia Pennington found themselves with more than $200,000 of debt, they used an unconventional debt management approach to eliminate it: tiny living.Rather than chip away at their mountain of debt bit by bit, they downsized from a 1,500-square-foot house to a 536-square-foot, manufactured house to accelerate the process. If you’re in over your head in debt, consider taking the leap to a tiny home — you might discover that living in smaller digs offers many perks.Click through to find out whether living in a tiny home is worth a shot.

Small homes can help you save money and get out of debt

Lots of people try strategies like cutting their household budget and using debt consolidation to pay off what they owe. But when Garrett and Claudia Pennington found themselves with more than $200,000 of debt, they used an unconventional debt management approach to eliminate it: tiny living.

Rather than chip away at their mountain of debt bit by bit, they downsized from a 1,500-square-foot house to a 536-square-foot, manufactured house to accelerate the process. If you’re in over your head in debt, consider taking the leap to a tiny home — you might discover that living in smaller digs offers many perks.

Click through to find out whether living in a tiny home is worth a shot.

© Two Cup House

More from GOBankingRates

GOBankingRates
GOBankingRates
image beaconimage beaconimage beacon