1. YOU CAN AFFORD A BETTER PLACE
The financial benefits of having a roommate include the opportunity to pay for a better place. When you live alone, you may not be able to live in the neighborhood you prefer. However, if you find a roommate and share the cost of rent, you may be able to move and settle in a desired community.
2. SPLIT PROFITS
Not only is there the benefit of splitting the rent, but you can also split household expenses such as electricity, water, cable, or gas. This can take a big load off your shoulders. And if you still live at home with mom or dad, getting a #roommate can help you move in sooner and become independent from your parents.
3. CREATE AN AMAZING BACHELOR PAD
If you’re moving into your first place, you probably know how you want to decorate the house. But unfortunately, decorating and furnishing an apartment or a house on one income can be challenging. However, if she’s moving in with a friend, the two of you can combine funds and create the living space of your dreams. This can be a fabulous bachelorette or bachelorette party.
4. BUILD A CASH PAD
Financial experts recommend a savings account with at least 3-8 months of income. Unfortunately, this can be challenging to save, especially if you live alone. With a #roommate, your disposable income could increase, making it easier to save for a rainy day and plan for your retirement.
5. PAY THE DEBT
Whether it’s student loan debt, credit card debt, or a car loan, getting out of debt can be difficult when you have multiple monthly expenses. Getting a roommate can speed up your debt elimination goals. Instead of all your cash going toward bills, your disposable income can go toward paying off your consumer debt. This can free up money in the long run and improve your credit score.
6. REDUCE MONEY-RELATED STRESS
Do you stay up at night worrying about money? Is there never enough to cover your monthly expenses? Most likely, you are living beyond your means and your income is not enough to support your lifestyle. However, getting a roommate can give your budget a breather, which can reduce money-related stress.
Maybe you haven’t considered a roommate. But if you currently live alone and want to improve your personal finances, getting a roommate and sharing household expenses can put you on the right track. What are other financial benefits of a roommate?
Source: http://money.allwomenstalk.com/of-the-best-financial-benefits-of-have-a-roommate
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