A couple have managed to halve their monthly bills by ditching renting to live on a narrowboat. They went from paying £1,000 a month for rent and bills to just £550 in loan payments on the boat purchase.
Like so many of us, couple Jack and Gemma Cox were struggling to get on the property ladder while spending a load of money on rent.Jack, a 29-year-old secondary school teacher, and Gemma, a 29-year-old paramedic, were paying £1,000 a month to live in their flat in, all while trying to put as much money as they could into a Help To Buy ISA in the hopes of buying a place closer to Gemma’s family in the Dales.
Rather than settling for that path, they binned off their ISA and bought a two-bed beam boat, moored between Manchester and Yorkshire.To view this video please enable JavaScript, and consider upgrading to a web browser thatGemma said: ‘We took a loan out to buy the boat, and even still, the boat was way under half the amount of the houses we were looking at.‘That is our only proper outgoing each month, the only other thing is getting the toilets pumped, which is £15 once a month, too.
‘When we realised it was only an hour away from us we decided to go and view it. Two weeks later we had put the deposit down on it and were about to move onto it.’ ‘We now use solar panels for our energy, and when it starts to run out in the evenings, we use a camping stove and camping gas, so we don’t have any bills to pay now.‘Our phones have unlimited data so we just use the hotspot from our phones too.‘We pay £1,100 yearly to the canal river trust which includes being on the water, as well as using water at the canal water stations.
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