When 23-year-old Brandon S. headed from Massachusetts to the Bay Area in mid-May to start work, he opted out of settling into an overpriced San Francisco apartment.
Instead, he moved into a 128-square-foot truck.
The idea started to formulate while Brandon — who asked to withhold his last name and photo to maintain his privacy on campus — was interning at Google last summer and living in the cheapest corporate housing offered: two bedrooms and four people for about $65 a night (roughly $2,000 a month), he explains to Business Insider.
“I realized I was paying an exorbitant amount of money for the apartment I was staying in — and I was almost never home,” he says. “It’s really hard to justify throwing that kind of money away. You’re essentially burning it — you’re not putting equity in anything and you’re not building it up for a future — and that was really hard for me to reconcile.”
He started laying the groundwork for living out of a truck immediately, as he knew he’d be returning to work full-time in San Francisco. A school-year later, he was purchasing a 16-foot 2006 Ford with $157,000 miles on it.
It cost him an even $10,000, which he was able to pay upfront with his signing bonus. His projected “break-even point” is October 21, according to the live-updating “savings clock” he created on his blog, “Thoughts from Inside the Box.”
“If I do plan on traveling the world, I’ll need to be comfortable with unconventional living situations, and this is certainly a good place to start,” he writes. “Plus, there is never going to be a better time in my life for me to try this. I’m young, flexible, and I don’t have to worry about this decision affecting anyone else in my life.”
Source: Business Insider