Many people move into a share house to save money, as it allows them to save on living expenses compared to living alone. We have compiled some concrete advice on how to increase your savings while living in a share house, so please use this as a reference if you are considering moving into a share house to save money.

Economic benefits of a share house

What are the economic benefits of living in a shared house? We have summarized them in two points. Savings on rent Donations for utility bills and internet fees

Rent savings

How much difference is there in the amount of money you can save between living alone and living in a shared house?
Let's compare the rent for each. The average rent for a single person is said to be around 60,000 to 80,000 yen. As a rough guide, it seems that many people choose a property that is about 1/3 of their monthly income. On the other hand, the average rent for a shared house is said to be around 40,000 to 60,000 yen. This is for a shared house with private rooms, so it may be a little cheaper for a dormitory-type shared house. Even if you only compare the rent, it seems that a shared house is about 20,000 yen cheaper. In addition, the only initial cost for a shared house is the deposit (1 to 3 months' rent), so I think expenses will be lower than living alone.

Donations for utilities and internet charges

For utilities, if you live alone, you will be billed for the basic fee plus the amount used, but in a shared house, a common fee of around 10,000 yen per month is set, which includes utilities, internet usage, and equipment in the common areas. Some shared houses even install high-speed lines. In a shared house, there is no need to go through any opening procedures and you can start using the internet right after moving in, so it's hassle-free and inexpensive, which is a great deal.

How to save money in a share house

What kind of system will help you save money? I have summarized it in two points. Setting and managing a budget Making use of automatic savings

Setting and Managing Budgets

In order to save money, it is important to first decide on a monthly budget. Food expenses are the most variable expenses, so be sure to set a proper budget and manage your money within that budget. It is also important to decide how to manage your spending. You can prevent overspending by paying only with cash, or by opening a bank account into which you only deposit your spending budget and getting a debit card for that account.

Utilizing automatic savings

For those who are having trouble saving as much as they would like, we recommend automatic savings. Automatic savings is easy to implement by splitting your salary deposit account into two. This is known as "advance savings," where you create an account specifically for savings and set it up so that the amount you want to save is deposited there every month. Bank apps also have "automatic transfer" settings, and there are services that will automatically transfer money from one designated deposit account to another, so we recommend that you set up automatic savings in a way that suits you.

Saving tips with the help of share house residents

If you find it difficult to save money on your own, try relying on the help of other residents in a share house. Here are three points to keep in mind: The importance of having a common goal Making use of joint purchases and sharing Can you really save money in a share house?

The importance of having a common goal

In a share house, where multiple people share one residence, you are closer to others than if you were living alone, and you are more likely to be influenced by the other residents, for better or worse. Therefore, if there are many residents who do not share your values ​​regarding money, you may feel restricted by the fact that you are saving money. In order to avoid such confusion and temptation, you should view the property before moving in to see how the other residents live and determine whether it matches your standard of living.

Utilizing joint purchases and sharing

In the first place, shared houses come equipped with furniture and appliances in both the common areas and private rooms, so there is no need to purchase them separately when you move in. However, if you need new furniture or appliances while you are living there and you need them in the common areas of the share house, you can purchase them together with the other residents. Purchasing furniture and appliances that will improve the QOL of not only yourself but also all the other residents may ultimately lead to savings.

Can you really save money by living in a shared house?

In a share house, multiple people live in one residence, so there may be more opportunities to spend money, such as at community events, but I think it's easier to save money than living alone because you can keep fixed expenses low. Also, if there are other residents who are living there to save money, they may be able to give you information about cheap supermarkets, which may help you save on variable expenses like food.

Any specific tips for saving money?

In order to save money, it is important to understand your spending situation and save money, and to increase the money you receive. Try the following three points to understand your spending situation and save money: Figure out how much you are currently spending to live for a month. Think about where you are wasting money and where you feel you could cut back a little more. Take a look at the situation little by little, and make an effort to reduce any areas of spending that you can. In addition, there are three ways to increase the money you receive: Increase sources of income with a side job Take advantage of systems such as NISA to try asset management to increase your money You may not be able to tackle the points on increasing money right away, but try to consider them along with saving money.

summary

I think a shared house is a better environment for saving money than living alone because fixed costs are lower. Living in a shared house allows you to learn money-saving techniques from other residents and share your knowledge with them, so it would be nice if you could enjoy the environment as well. I hope this article will be helpful for those who are thinking of using a shared house to save money efficiently.