Jun 26, 2018
With the continued increases in housing prices and rental rates, young people realize the need to become more creative and resourceful when it comes to moving out on their own. Many young millionaires-in-the-making consider moving in with friends or their significant other to develop a sense of freedom, responsibility, and to start their journey into adulthood. However, often, young adults often don’t realize all of the things they should consider when deciding to cohabitate with others.
In this episode, I share the five keys to successfully cohabitating in a financially fit way. I explain why sometimes, living with your parents can after graduating from high school or post-secondary education can be a benefit to you as you begin to save for your future expenses and how parents can help encourage young adults to budget and save their money. I explain the importance of choosing your cohabitation partners wisely, what to consider when choosing your roommates, and how to end a cohabitation arrangement on a positive note. I also explain the importance of exercising caution when co-signing a loan for a friend or significant other as well as what to consider before moving in with a romantic partner.
“Exercise caution when being asked to co-sign for a loan or take credit out in your name.” - Tracey Bissett
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5 Tips for Cohabiting in a Financially Fit Way:
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