Save Money Get A Roommate

The experts recommend thirty percent of your income goes to rent and utilities.

That’s a lot of money. Almost a third of our pay is taken by our living expenses. If you are a serious saver or want to be a serious saver here is a way you can save a small fortune on living expenses. Get a roommate and split the living expenses. A good roommate will be a benefit to you and can easily be worked into your financial plan.

We all save money for some reason, maybe we want a good retirement, a new home, that fantasy vacation, or a wedding. You have what you want if you are willing to work for it. 

Is having a roommate worth it?

If you want to know how to save money having a roommate read on.

Should I Get A Roommate To Save Money

Getting a good roommate is an excellent way to save money. One roommate can save you half of your living expenses. 

Now that I’ve said that, don’t run out and get the first person you see looking for a roommate. Be selective to get the right one. 

You need to know what you are looking for in a roomie. What is acceptable and what isn’t acceptable?

Know what you are looking for and know what the deal killers are.

There are pros and cons of having a roommate.

Is It Cheaper To Have A Roommate 

Nothing is cheaper because you have a roommate. You pay less because you have someone to split the cost with you. Making your cost of living less.

How Can I Save Money

Before you had a roommate you paid all of the bills. Now that you have a roommate you have someone to pay part of hopefully half of the bills.

Start saving your extra money before you get used to having it.

A Strategy To Save On Your Living Costs

Without a roommate how much do you pay in rent/mortgage and utilities?

Set that amount aside. When you collect the rent and utilities from your tenant you make up the difference and pay the amount due. Take the remaining amount of money you have set aside and put it in a savings account.

Save for something you want or need or contribute to your retirement fund.

Conclusion 

You can save money if you get a roommate.