12-4-08 tracy1.jpgRecently we were cleaning out and organizing the bookmarks on our computer, and came upon Tracy Falk's wonderful 450-square foot studio in Vancouver. If you missed it when it was posted earlier this year, be sure to check it out. There are some great ideas for decorating small spaces on a budget...

12-4-08 tracy4.jpgTracy fit a bed into an eating nook, and built a picture-rail divider to screen it off.

12-4-08 tracy3.jpgHow cool is this chalkboard-painted entry?

12-4-08 tracy5.jpgHer budget? $1000.

12-4-08 tracy2.jpgWe love this quote of Tracy's: I think studio apartments are a great challenge -- they definitely make you rethink how you live and what you need or don't need in order to have a home life that’s comfortable, expressive, and balanced.

• See more of Tracy's small space here: More Ways to Waste Time