The Key Concept
How much money should you save before living off the grid? This question often comes up and is tough to answer because it depends on personal preferences. Here’s a guide to help you make informed decisions.
Focus on Time, Not Just Money
You should save a few months’ worth of expenses for emergencies. But understand that money’s value decreases over time due to inflation. You might have noticed your grocery bill rising. It’s not because items are worth more, but because money buys less.
The Impact of Working Hours
Today, covering basic needs requires more work hours because wages don’t keep up with inflation. Ask yourself how many hours you’re willing to work just to meet basic needs. Time is precious, so prioritize it.
Practical Saving Tips
Here’s a simple plan:
- Take one-third of your current expenses as a target.
- Save enough to cover 2-6 months of these “thirds”.
- Invest in systems that save you time and reduce costs in the long run.
Our Approach
When we moved to our homestead, we had $300. Instead of saving lots of money, we focused on creating a self-sufficient lifestyle. We aimed for freedom, self-sufficiency, and time with family. Now, we work just a few hours a week on paid jobs and spend the rest of our time how we want.
- Things to Remember:
- Money will never be as valuable as it is right now.
- Invest in systems that save time and money.
EXCEPTION: Companies sometimes raise prices unfairly (looking at you, Kellogg’s). Expect unexpected expenses.
To sum up, prioritize time over money and aim to save enough to transition smoothly to an off-grid lifestyle. 🌱
