<prompt> Human: Hey all,So my husband is in grad school and receives a stipend, and I have a full-time job that works off commission. We do alright most months, and weve managed to avoid taking out a loan, but I know wed both love to keep more of the money we bring in.Our current apartment is 670month for a 2 bed1 bath with washer and dryer, with utilities ranging around 90-170month, depending on whether its extremely hot or cold. We pay about 60month for internet, so all total, were averaging about 850month to live here. Our lease is coming up in May, and we have the option to renew.My salary is about 32k-36kyear, depending on how commissions go, and he receives about 15,600year after the university withholds for taxes, health insurance, and university fees.We have about 25,000 in debt, with about 7k of that being on credit cards I know, I know, and the rest being owed to my parents, who are not charging interest, but wed still like to pay them back ASAP. We have only 1 car, and its totally paid off.Heres the situation: We have an opportunity to move into a 1 bedroom efficiency apartment this May thats 300month, with water, electricity, internet, and Dish Network included. Id guess its about 300 square feet, and its about the same distance from my husbands school as our current apartment. The apartment is in a very safe neighborhood, and is owned by a nice family.We have about another year here until he graduates, and part of me is thinking, Wow...what if we could save that 850 for a year? Thats 11k! We could use it to help pay off the debt to my parents, andor get settled into our new life, wherever that may be, after he graduates and gets a job.The thing is, the apartment is obviously very small, and I work from home, and my husband frequently studies at home, as well. Are we crazy to think this could work, even for a year? We would need to store some of our belongings and furniture in order to fit. Would the cost of renting a storage unit each month negate the savings were getting from moving?Another thing weve considered: Asking the property owners if we could put a very small building on their property the efficiency apartment sits on nearly 4 acres and use it as an office space for us. But again: How much would we be saving if we went that route?The low cost of living at this place is so tempting that its hard to see things objectively. Help me, rpersonalfinance! Do we have a good deal here where we already are? Should we stay put, or make the leap and do something different for a year? EDIT Man, thanks for all the good responses! Im still on the fence, and my husband seems less enthused than before, but Im trying to help him keep an open mind. Weve got some time to decide, since one of his best friends is currently in the apartment and knows were interested, but I dont want to wait too long.Like someone mentioned, we could wind up blowing a lot of money on space-saving gadgets, though some can be bought used or at an IKEA. Im also the kind of person who has a Clever Storage Spaces Pinterest board, so Ive got lots of inspiration. Yet at the same time, wed definitely need a small storage unit somewhere. I think I know where to get one for a decent price, and it wouldnt be far from our apartment, but still?Ill broach the subject with the hubs again, and maybe we could ask our friend if we can view his apartment once more. This friend also has very decadent taste, and wants his huge TV with a huge bed and other huge furniture which is hilarious to me, considering how small the space is, so the size of the apartment is kind of obscured.If anyone else has any suggestions, constructive opinions or insights, Im still interested, but thanks for all the feedback!  <response>: With your income and debt levels, I would go for the 300 sq. ft. apartment just to save money. You have to make sacrifices to pay off that kind of debt, and living in a space that small is a sacrifice. 