A 35-year-old and his wife ditched the rat race for a cabin in the woods and now live off the grid debt-free

By living in their cabin off the grid, Timmerman and his wife, who is a caterer, have saved a good deal of money.

"We're on the reduce-your-expenses method," he told Business Insider. "This is an off-the-grid cabin that we bought pretty cheaply, and living this way is cheap. We don't have many expenses, if any, basically just a cellphone bill.

"We have plenty of money in the savings, and I'm able to work as a professional racer mainly because of the way that we live. If I had to pay rent in town it would be a different story."