Housing is one of our biggest monthly expenses. Choosing a housing set up wisely can supercharge your savings, or give you a peace of mind at the end of each working day. So, is it smarter to get roommates or just live alone?
This is a question I feel you should explore before getting a place of your own. This is because you can save yourself from a lot of mental and financial distress.
In this episode of WeeklyBagel Podcast, I dig into one of the biggest financial and lifestyle decisions young working class adults face: choosing between shared living and solo living. This is importance, since it is likely to determine the quality of your life.
Is Living With A Roommate A Good Idea?
Well, it depends on where you are currently in life. If financial stability is what you are looking for, having a roommate might help you accomplish the goal. Personally, I always recommend you live either roommates for one year and stash money you save. A year of savings could give you a year of financial breathing room.
However, the biggest tradeoff may be your mental health amongst other things. As I mentioned in this episode, this is because you will be sharing your space with someone else quite different from you.
This is a big disadvantage of living with a roommate or housemates. This is especially, if you are private person. I am talking about you coming home to your half-eaten food in the fridge, eaten by an inconsiderate boundary-invading roommate.
And, that is not even the worst of the possible outcomes of having a roommate. I am sure you have seen episodes of Roommates from Hell. Oh yes- there are people out there who will make you rue the day you make this decision.
Do not get me wrong. It is not all bad though. Some people have made it work. You will find out how in this episode.
What Are the Benefits Of Not Having Roommates?
Nothing smells like freedom than having a space to live, sleep and be creative. But, is it healthy for people to live alone?
If you are someone who is serious about boundaries, oh sure. You will need the space to have a healthy mental state. Otherwise, you will be driven crazy by the potential quirks of a roommate.
As you already figured out, living alone may break your budget but the perks of living alone- privacy and creative freedom, are worth it.
So, Is It Better Living Alone Or With A Roommate then?
There is no perfect answer to this, because the preference is entirely subjective. Whether you are just starting out, moving to a new city or trying to stretch every dollar, your rent could make or break your monthly budget.
This is why I break this episode down to the costs, the pros and the cons, and the lifestyle tradeoffs. This episode explores what it feels like to actually live with a roommate versus doing it on your own. Having had a roommate at one point in my life- I only lasted for three to four months. So, this is real talk coming from me.
I share an example and decision-making process to help you think through the decision. Just because it works for someone you know, does not mean it might not for you. And, guess what?
It is perfectly alright.
Who Is this Episode For?
If you fall in any of this category, this episode is for you:
- Young working class adults starting out. This includes young adults looking to cut the costs of living without sacrificing too much comfort.
- College students balancing work and studies.
- Anyone moving out of parents’ house for the first time.
- People who have had roommate trauma and considering getting it right.
- Listeners building a budget and trying to figure out which housing set up will help them.
As usual, grab a cup of coffee and a bagel. Let us explore this together. As I mentioned early, there is no one-size- fits all answer when it comes to roommates versus living alone. I recommend making a decision based on what supports your wallet or your wellbeing. You are going to need both to thrive!
Anyways, new episode drops every two weeks. You can subscribe to my newsletter to get notification about new episodes. If you like my thoughts on this episode, share this with someone who is currently apartment hunting or rethinking their housing setup.
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