Family of five save £2,000 a month travelling after selling house and belongings | Personal Finance | Finance
A couple who sold their house to travel around the world with their family are saving just under £2,000 a month in doing so.
Chris and Tamira Hutchinson, hailing from Corby, Northamptonshire, packed their bags and left for Asia in May due to the strain the cost of living crisis placed on their disposable income.
The couple sold everything they owned, including their house, and took their daughters, Olivia, nine, Scarlett, seven, and Bella, three, on an adventure around the world.
Mr Hutchinson, who was a personal trainer and videographer, said: “[Life] was really stressful. You work all the time and finally get to the weekend and you can’t afford to do anything. Everything we saved up would be eaten up by the prices going up.”
So far, the family have travelled around Thailand and Malaysia and has plans to visit nine more countries over the coming year.
Back in England, the family of five would spend an average of £3,000 a month which covered their mortgage, bills, petrol, groceries and other basic expenses.
Now, during their travels, the family’s expenses have significantly changed. The couple spend around £30 a night on accommodation and £40 on food and spending money per day.
According to the Hutchinsons, they rarely exceed their monthly budget and often spend far less, which sees them cut costs by three, spending an average of £1,200.
Mrs Hutchinson, a swimming instructor said: “There are some days where we go slightly over, and some days when we spend nothing at all.
“When we planned the travels we took into account where we would be more comfortable with our money and which places would be more expensive.”
The couple has saved enough money to travel for an entire year without having to worry about work, and they also generate a small income from their social media channels.
Mrs Hutchinson said: “We didn’t want the ongoing cost of having things in storage so we sold everything: furniture, cars, everything. We only kept small things with sentimental value that we could keep at relatives’ houses.”
The family can now enjoy time together and say they are much happier now. They provide homeschooling for their daughters following the British curriculum while also imparting a “world education”.
The couple’s stress and anxiety levels have “massively” reduced. Mr Hutchinson said: “We sleep much better, get outdoors more, and are generally happier as a family than before.
“Family time is the biggest benefit to us. The time we are spending together is irreplaceable and that’s the main reason for doing what we are doing.”
The family made the decision to travel during COVID-19, but it was the cost of living during Christmas last year that served as the final straw and motivated them to set off.
Mr Hutchinson explained: “The cost of living during Christmas was just horrific. That was the breaking point.”
The couple have seen many Britons looking to do the same thing as the cost of living crisis continues to eat away at parents’ work-life balance.
Mr Hutchinson said: “We get so many messages from people in tough positions looking to do the same as us, I think there will be more and more people doing it.”
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