Housing costs account for the majority of most people’s spending. During hard economic times, reducing your housing costs can have a tremendous positive effect on your total income. There are a variety of cheap housing options available, which can help you obtain a more stable financial future.
Of course, the cheapest housing option is no home at all, followed shortly by a cardboard box. Before choosing this option, it’s usually best to try something a little higher end.
Renting a room
If you’re single or just living on your own, renting a room is probably the cheapest alternative. I’m not talking about renting a hotel room, or even an apartment. I’m talking about renting a room from a homeowner’s house. Homeowners that are stretched for cash often rent out rooms for anywhere from 100 to 1000 dollars per month. Even in the most expensive places in America to live in, like California, you can easily rent a room from somebody for $500 a month. The first place you want to check is Craigslist, which is a free website allowing people to advertise rooms for rent (or anything else) for free.
Finding a roommate
Renting a single room in a house when an entire family is living in it can be pretty frustrating. You can always choose to get a two, three, or four bedroom apartment and share it equally with roommates. This option is usually a little more expensive then renting a room directly from a homeowner, but you’re sure to get equal privileges to the living room and kitchen, which can be important. The only real danger is being stuck with a bad roommate! There are many websites to match up potential roommates, including Craigslist.
I have to be honest; living aboard a boat is not for everyone. You will have an extremely limited amount of space. But the good thing is that it would only cost maybe $500 a month for slip fees and maintenance. Unlike renting a room and living with a roommate, if you live aboard a boat you will at least have privacy, which can certainly be a plus.
Living at your workplace
Some people choose to live in their workplace….and many of those people are fired when they are caught! Still, if you have an office and are feeling lucky, maybe you should gamble a little! Actually, on second thought, if you have an office, you’re probably making enough money to afford one of the options above.
Posted under Saving Money
This post was written by admin on February 28, 2009