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Ballin' on a Budget: How Having Roommates Can Save You Money

By Roommates.com, on 07/03/2019

First off, congrats, you’re killing it. You’re finally moving out of your hometown and into the city. You’re moving up in the world, and nothing can stop you. Well, almost nothing. 

Here’s the problem. Big cities are expensive AF to live in. Nobody wants to be broke in a new city, and you’re obviously not going to stop spending money on going out, because how else are you going to make friends. So how do you save money while living in an expensive city? Get a roommate. 

From the obvious reasons to the stuff you might not have thought of, we’ll give you the lowdown on all the ways adding some extra humans into your living situation can help you financially. Get to reading, and get to saving.  


Rent and Bills

We’ll start with the most obvious financial benefit of having a roommate. Rent and bills are cheaper. One bedroom and studio apartments are expensive, and splitting a two or three or even four bedroom place can cut your cost of rent in half. 

Roommates also help you save money on bills. Electricity, water, trash, and internet all add up pretty quickly, and having roommates to split bills with can be a lifesaver. The same goes for random expenses such as home repairs or yard maintenance not covered by your landlord. 

 

Household Items

The financial benefits of having roommates goes beyond just rent and bills. You can also split essentials like toilet paper, cleaning products, and groceries. Right when you move in, go on a roommate date to Costco and buy a boatload of bulk items. It’ll save you money and you’ll never have to fight about who’s turn it is to buy TP. 

But wait, there’s more! What about furnishing your common area? You may not have a couch, but your future roommate might! And more humans in the house means more kitchen equipment! We’re here to help you find the french press to your George Foreman grill, and the juicer to your cast iron skillet.


Daily Activities

How about getting around town? Yup, roommates save you money there too. If you work near each other, you can carpool, or split a Lyft. Same goes for going out to the bar, or if you’re being responsible, the store. 

Speaking of the store, roommates can encourage you to cook instead of ordering food. Cooking for one can be boring, and sometimes just as expensive as takeout. Cooking for the whole house is a fun group activity that saves you money!

We know that you love to go out to the bar and meet people. So do we. But having a cool roommate (and we only have cool roommates here) means that sometimes you can stay in and drink at the house. Grab a bottle of wine or a 12 pack and play some games, have a backyard hang, or just sit on the couch and marathon Parks and Recreation for the 20th time. Having roommates means that staying at home isn’t sad and lonely anymore, it’s fun and cheaper than the bar. 

 

Encouragement and Accountability

There are other ways roommates can benefit you financially that can’t necessarily be calculated. If you’re working towards a financial goal, it’s nice to have people around to encourage you and keep you accountable. If you live by yourself, nobody is going to notice all the Amazon Prime boxes showing up at your doorstep. But if you have roommates to judge you, you might think twice about ordering that unicorn onesie or Friends DVD box set. 

Roommates can distract you from online shopping, or slap the phone out of your hand when you’re about to drunk order $40 worth of Uber Eats. They can remind you to bike to work instead of taking a Lyft or hang out on the porch with you instead of going to the bar. Who knows, they might even have the same financial goals as you, and you can make it a friendly competition!  

 

Long Term Benefits

Saving money in the short term by having a roommate can have a ton of long term benefits. The money you save from having a roommate might mean that you don’t have to get a second job, and you can use that extra time to pursue passion projects, go back to school, or hit the gym regularly. It can benefit your body, your mind, and your future. 

Paying rent is a necessary evil, but it doesn’t have to make you go broke. If we’ve convinced you that a roommate is what you need in your life, you’re already at the right place. Find your ideal roommate today, and start living your best life.