Roommates and Finances—Saving Money While You’re Saving Money

Our reasons for considering roommates are many, but saving money is close to the top of the list. Financial considerations are behind many shared living situations for women 50 and over, along with a determination to live an independent lifestyle. Says Sonya Stinson in an article on Fox Business, “Along with economic factors, the determination of boomers to avoid nursing homes is a major driver of interest in shared housing — especially among single, widowed and divorced women.”

Marianne Kilkenny, founder of the Women for Living in Community network and a frequent speaker on the shared housing model, is one of those women. She lives with several housemates in Asheville, N.C., and says, “It’s in a lovely part of town that I probably couldn’t afford to live in, nor could any of the rest of us.” She feels fortunate to live in a great place that’s been made affordable by pooling money together and sharing rent and other expenses.

Check out Stinson’s article for helpful money-saving tips for Boomer roommates.

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