•  A smart pig on a stack of books
  • What to expect: Living alone for the first time

    Coming out of college, you may not know life without a roommate. Depending on your previous situation, this could be a scary thought, or the what you’ve been waiting for all along. Either way, this is a transitional period that you’ll need to be prepared for emotionally and financially.

    Woman relaxes in chair while drinking coffee

    You'll Get Privacy
    You know that one playlist you love that is so embarrassing you won't even listen to it with headphones just in case your roommate hears? When you live alone, you can indulge in your guilty pleasure without concern! Living by yourself has a lot of benefits, but for more introverted people, this might be the best part. It can seem like you never get a moment to yourself when you live with a roommate. If you're tired and you had a bad day, you probably don't want your roommate sitting on your bed talking about their crazy day working at the campus library. Now, when you open your door to your place, you can lock it behind you and listen to the sweet sounds of your favorite movie soundtrack with pride. Just don't be surprised if the neighbors snicker at you in the hallway.

    There Will Be a Price Difference
    However, that treasured privacy comes at a price. The price of a shared space can be significantly less expensive than a one-bedroom. In addition to paying rent on your own, you'll be picking up the tab for utilities, groceries, furniture, and more. It's a good idea to prepare by creating a budget. The 50/30/20 rule suggests that you dedicate 50% of your income to your needs like housing, utilities, food, transportation, etc. You can factor in 30% of your income for things you want. The remaining 20% is for your savings [1]. When you plan out your expenses, the new financial burden will come as less of a shock. On the plus side, you'll no longer have to share supplies and utilities. That means you won't have to pay for your roommate's hour-long shower habit, anymore!

    You'll Meet New People
    As annoying as it can be to do someone else's dishes, the quietness of your new place might seem a little strange and unfamiliar. The plus side of solo living is that you get to decide when you want that quiet. Invite over friends or family when you feel like you need some human interaction. If you moved to a new city, this can be difficult. In this situation, it's important to be open to making new friends. Go to coffee shops, join clubs, or take classes to meet new people. Don't be afraid to strike up conversation with the cashier at the grocery store-research shows that talking to strangers actually makes you have a better day, and you might just make a new friend [2].

    This is a huge transitional period in your life. Whether you're moving to a new city, starting a new job, or trying to become financially independent, you might find yourself needing a little help navigating these difficult challenges. And try not to be too self-conscious-your next-door neighbor probably has bad taste in music anyway.

    [1] How to Budget Your Money With the 50/20/30 Rule, Huffington Post
    [2] Talking to Strangers Makes You Happy, Scientific American



  • The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.