How To Cut Costs And Save Money By Sharing Your Home With Family

It may not be the favorite choice, but it could be the only choice

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Photo by Tyler Nix on Unsplash

Times have changed. Income has dropped dramatically for millions of people, yet expenses have stayed the same. The experiences of worry and fret have increased exponentially.

What can people do when they run out of money and start to panic regarding the payment of rent or mortgage? Well, the government may be able to help in some ways, such as assistance or promises of extra cash, but that can only delay the day of reckoning. There are still obligations regarding debts and contracts.

If you are hurting financially, you might want to sit down with your significant other, life partner, or spouse and figure out what to do next. Please don’t do anything drastic or dangerous. If you need psychological help, make sure you call a free hotline or your local mental health provider.

For millions of people, the biggest expense they have is their rent or mortgage. That bill likely dwarfs any and every other expense in their life. So what happens if they have no money for that any more? Well, one idea is to move in with other relatives.

What are some of the benefits of moving in with other family members?

  • You can reduce your monthly rent bill by a large amount
  • The water bill can be shared, and lowered per person
  • The electricity and gas can also be reduced
  • More people can be around to babysit
  • More occupants in the house means more people are guarding it against thieves
  • Resources can be shared or borrowed, instead of purchased
  • People with different skills can do different tasks instead of paying for specialists
  • You can have more ideas and suggestions when there are more minds at work
  • Food costs might also be shared

This idea might work for you and your family. Remember that there is likely to be a great deal of compromise involved, with a lot of pros and cons, ups and downs. Make sure you iron things out and get everyone on board before you jump in. After all, though there may be challenges in adjusting, moving in with other relatives may be the best move for everyone involved.

Even though personalities may clash and tempers may flare, remember that your entire family is trying to make it through a highly difficult period in history. Do your best at committing to make it work and when it is over you may look back with fondness at the good times that were had by all.

Written by

writer and novelist. traveler and adventurer. looking for fun in the sun. chasing the dream. can't stop the feeling that time is going faster.

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