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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: <p>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.</p><p>Rather than chip away at their debt bit by bit, they downsized from a 1,500-square-foot house to a 536-square-foot, manufactured house to accelerate the process. The effect was more like a debt snow squall than a debt snowball or debt avalanche, Claudia writes on the couple’s blog, Two Cup House.</p><p>Find out how the Penningtons got out from under their mountain of debt. If you're in debt over your head, consider taking the leap to a tiny home — you'll find that <a href="https://www.gobankingrates.com/mortgage-rates/biggest-perks-living-tiny-home/">living in smaller digs offers many perks</a>. </p>

How Tiny Living Helped a Couple Pay Off More than $200,000 in 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 debt bit by bit, they downsized from a 1,500-square-foot house to a 536-square-foot, manufactured house to accelerate the process. The effect was more like a debt snow squall than a debt snowball or debt avalanche, Claudia writes on the couple’s blog, Two Cup House.

Find out how the Penningtons got out from under their mountain of debt. If you're in debt over your head, consider taking the leap to a tiny home — you'll find that living in smaller digs offers many perks.

© Two Cup House
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