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Saving money nowadays is one way to secure your future. If you learn how to save, you can get the extra money that can finance your investments. These investments can help you earn extra income that will help fund your retirement or any purchase that you would like to make in the future. Having adequate savings will also allow you to feel secure despite emergency situations that can ruin your current budget. We are all aware of the many benefits of saving. However, this does not mean everyone does it. Because of the high cost of living and the continuing inflation, a lot of consumers are having a hard time saving their money. We cannot dispute the fact that we need to save - no matter how hard it is. Thankfully, there are a lot of strategies to save moneyand we will be discussing one of them. One of the ways that you can save is by living with a roommate. This will benefit you in so many ways - not just financially. But even if we only concentrate on the financial benefits, you might find it encouraging to go looking for a roommate. According to an article published on USNews.com, you can get a lot of savings if you get a roommate. For instance, if you live in Chicago, your approximate expenses for a 1 bedroom is $1,607. If you will live in a 2 bedroom home with a roommate, you will only spend $902 a month - that translates to 43.87% of savings. That $705 savings will go a long way in helping you pay off debt, or save up for a purchase in the future. The $705 a month, when you save it can add up to $8,460 a year. Of course, living with a roommate involves a couple of sacrifices too. Sometimes, you end up with the wrong roommate and you have to deal with the stress of living with someone you do not like. While there is a certain risk, it all boils down to how much saving money is important to you.