This is going to be really complicated, it’s going to be a pain i’m going to hate my life every single day when i have to do this in today’s video i’m going to be showing you guys how i cut my monthly expenses by over 1500 by downsizing In a city as a family of three plus a dog, as well as paying off my car loan, and now i have an extra fifteen hundred dollars in my pocket every single month or in my case i’m gon na, be putting towards my student loan debt. So let’s get into how i save this huge chunk of money each and every single month, so you can do the same if you so choose. Okay, like i said i live in the city of toronto, which is known to be one of the most expensive cities. In north america, the average house price is well over a million dollars and the average rent price for a two bedroom, condo or house, is around 22.50 prior to the current current world events. It was well over 2 500, which obviously means we need to be creative. If we want to save money or if we’re, on a debt free journey like myself all right, so if you follow my journey, then you will know that myself and my two kids and my very large dog just moved to this very tiny 500 square feet. Two bedroom two bathroom condo in the city of toronto and we moved from a two bedroom plus den two bathroom condo in the city of toronto.

So before we get into it, i’m gon na break down the prices. So we can see a little comparison of what i am saving, what we move from, what we move to, what we used to pay and what we are paying now. So, on top of the two thousand five hundred and fifty dollars, we had to pay on average. Fifty dollars each and every single month for laundry, and on top of that we also had to pay hydro, which was on average, a hundred dollars every single month which totaled to two thousand seven hundred dollars every single month to live in that shoebox. So what are we paying now to live here? Okay, so, first of all i need to let you know that you are in my living room right now, but you are also in my bedroom. So yes, in order to downsize and save money in order to pay off debt, i did sacrifice having a bedroom, but we’re gon na get more into that in a little bit. So right now i paid 2100 per month in rent. My hydro is zero dollars because it is included. I pay zero dollars for a laundry because we have an in sweet laundry unit, so that totals two thousand one hundred dollars every single month for a total monthly savings of six hundred dollars a month so 600 a month. Obviously, when you’re on a debt free journey or you’re trying to save money or you’re trying to save for some sort of an investment goal, then that is huge, because if we do the calculations hundred dollars every single month times, twelve months is seven thousand two hundred Dollars in savings every single year, i was a little bit worried when i had this kind of crazy idea of giving up my bedroom to save money each and every single month.

I was kind of apprehensive and thinking. Okay. This is going to be really complicated. It’S going to be a pain i’m going to hate my life every single day when i have to do this but i’m here to tell you, it’s, actually really really easy, and this setup that i have i’m actually super super impressed with it and kind of proud Of myself um, so i’m gon na break it down for you. So this couch right here is the ikea fricative. I think that’s, how you say it and i got this off facebook marketplace. I stocked it. I put alerts on so i saw every time somebody posted a new couch and i got this for 300. I did pay someone 75 to move it, so it came to 375 dollars i’m going to show you exactly how it works, but it is like a pull out kind of setup. I did my research as well online and i found that most people that use this as their every night sleeping space had some sort of foam topper. So i did buy a foam, topper off of amazon and i think it came to like 117. You can obviously get them cheaper, but i knew that if i was going to do this long term, which for us is a year that i needed somewhere, that when i went to sleep at night, i didn’t hate my life. So i did opt for a slightly more expensive one.

The one that i got is three inches could be four inches. I’Ll put it in the description box below if you’re interested in getting the same one that i did um, but it is extremely comfortable. So all of my blankets and my pillows go in here. This lifts up um and then i bought the ikea, something wardrobe, which will also link in the comments or the description box below, and that is actually where i store my foam: topper: Music Applause Music. So, like i said, super super easy, very minimal inconvenience. If any inconvenience at all, i actually think it’s kind of cool. I feel really really cozy when i’m sleeping at night. So so far, no complaints and it’s already been about a week and a half and i’m still loving it okay. So you also might be wondering how my kids feel about this move, how they feel about their mom sleeping in the living room. Do they feel like it’s, an inconvenience, so i thought it would be cool to ask them and they can tell you themselves what do you think of our place? I love it. I like it a lot more than our old place. You do even though it’s not as new it’s cozier, it’s cozier. It just feels more like home, the other place at the layout of like the main area of the house. I just felt like it was too like open and it was just kind of an awkward space.

I also really like the hardwood floors. I think they’re a lot better. It makes it less like bright and makes it more like warm lighting, cozyish. You know what i’m talking about yeah, okay and because we only have two percent battery um. What do you guys think about me sleeping in the living room like do you feel like well, i’m, not gon na, say anything. How do you feel about it? Um? I think that it’s okay, as long as you don’t mind, i did tell mama that she could take my room and i would sleep in the living room, but she said no um, so i think it’s if mama’s happy with it and she’s content, with sleeping in The living room and she likes her bed, then i think it’s, okay, yeah same with me at first i was a little bit like um. Are you sure that you’re gon na like enjoy that? Are you sure, you’re gon na be able to do that? For like nine months until we buy a house um, but i mean you seem to like it and actually mama always had like really bad sleeps in her old bed in the old house and like since we’ve moved here, she has had like perfect sleep. My foam topper is like yeah. It literally feels like your chest, is so nice actually yeah because i’m always sleeps and sneaks in my bed. Yes, yeah, listen in this bed, yeah, so let’s see together last night Music.

I just think it’s crazy that we’re saving so much more money here and we’re happier here: yeah yeah, we like it more yeah, we’re, saving, more money like so much more money and this place we’re literally getting so much more for less this place has a whole Lot, no, we can’t use this stuff now because of the current world events, but once the current world events are lifted, yeah it has a pool. A billiard is that what it’s called billiard road theater a theater room, a pool table room, an actual gym with actual equipment in it. Yeah our old condo building had a gym, and all i had was a people did salsa dancing in there all right. So, if you’re, considering downsizing as a family or you’re, considering downgrading to save money, pay off debt or save for some larger financial goal, such as purchasing your first investment property like we are then i’m here to tell you that, even though it might seem like the Scariest thing, which i know i did and that’s why i stalled for so long way too long i’m, here to tell you that when you actually take the leap and you do it it’s, like a huge sense of relief, you actually feel like your goals. Are that much more attainable, i’m, honestly, so happy i did it. My only regret is that i didn’t do it sooner like we lived in that place. That was so expensive for so long and i think how much i spent living there each and every single year and how much i could have saved if we just bit the bullet and did this way earlier, but better late than never all right guys.

I hope you enjoyed this video and taking a look at how a family of three lives in a 500 square foot space. If you like this video, please consider subscribing to my channel where i am on a debt free journey of paying off over 83 000 worth of debt and purchasing a home at the end of this year, i’m, michelle and i’ll see you in the next video peace. We are recording, i see your computer, is that okay, no, take it out. Okay, i just i just fixed it nevermind.