The Benefits of Living Alone – And the Pitfalls

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The truth is, for some people living alone is a great idea. There is a certain amount of freedom that comes with it. Of course, there are a few downsides as well. So, you might be wondering if the benefits of living alone outweigh the disadvantages. Let’s find out…

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The Benefits of Living Alone

There are many benefits of living on your own. Here are some of the best ones.

1. You Get to Live By Your Own Rules

Of course, this doesn’t mean you can do whatever you want.

You still have to live by the rules of the law and the rules of your home.

However, if you’re living alone, it means that your house or apartment is just for you.

Therefore, if you want to wear all black clothing or eat chocolate for every meal – even breakfast – it’s up to you.

As long as it’s legal and not harming anyone else in any way, why not?

This might sound like a small thing but believe me, being able to eat whatever I want and wear whatever I want has made my life a lot better.

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2. You Don’t Have to Pick Up After Anyone Else

Living by yourself means that there won’t be anyone else to clean up after.

You’ll only have one person to pick up after and you’ll only need to do it once a day.

This is definitely a benefit because having no one to clean up after is really nice.

This is especially true if you are a super tidy person. 

Living alone means there are no arguments about someone else leaving their dirty socks all over the floor.

3. You Don’t Have Anyone to Bother You

There isn’t anyone else to bother you when you’re living alone.

It means that you don’t get any interference from friends or family members.

They might try giving you advice on what you should and shouldn’t do but all of these things are your own decisions and your the only one who has to live with them.

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4. You Can Decide What You Want to Do With Your Money

You can spend it or you can save it or you can throw it all out the window if you really want to.

There is no one telling you what you can buy or shouldn’t buy.

If you see something you want, go for it.

If you like to save every dime, that’s great too.

It is all up to you.

There is no need for some long, intense discussion with someone else.

5. You’re Free

Living alone definitely means that you can do things as you please.

I mean, if you want to go out to a late-night club, go for it.

If you want to stay in and watch TV all night long, that’s also fine.

You don’t have to feel pressured into doing anything because other people are expecting something from you.

This is definitely a big plus in my book.

6. You Can Keep Your Living Costs Down

Living alone means that your living costs will be a lot lower than they would be if you had someone living with you.

This is really nice because you can save money if that’s what you want to do.

There will be no pressure from someone else wanting you to spend your money in ways that you might not want to.

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7. You’ll Learn How to Take Care of Yourself

This is just a fact.

If you live alone, you have to learn to take care of yourself.

You can’t rely on anyone else to do it for you and that can lead to a lot of independence.

It will feel good to stand on your own two feet and make your own decisions.

If there is an issue, you’ll learn how to deal with it.

You will be an independent person and self-sufficient and that’s something no one can take away from you.

The Disadvantage of Living Alone

Of course, there are some downsides to living on your own. Not everything is flowers and honey.

Most of the downsides have to do with your financial stability.

1. It’s More Difficult Saving for Your Retirement

One bad thing about living alone is that it can be harder to save for your retirement.

For example, if you live alone, you’ll have to worry about rent or mortgage payments and all the other bills.

You will have less disposable income and less leftover at the end of the month to put into savings for your retirement.

A two-income household has a real advantage here.

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2. You Have More Financial Responsibility

It means that you’ll have more responsibility when it comes to certain things like bills.

There’s no one to fall back on when it comes time to pay for your living expenses.

If your paycheck falls short, you’re in trouble, so you’ll have to be better at making a budget and sticking to it.

3. Your Living Costs Will Be More Expensive

If you live alone, your living costs are more expensive because you’ll have to cover all of them when living on your own.

 It’s really important that you know how to manage your money so that it lasts as long as possible.

Otherwise, you can find yourself in a tough situation with no one to help you.

Without a roommate or a partner to share expenses, they all fall on you.

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4. It’s Harder to Save Up for a House or Car

When it comes time for you to buy a house or car, it can be more difficult if you live alone.

A house takes a large downpayment, 20 percent of the cost of the house. That could be $20,000 or $40,000 dollars or more.

If you are on your own, it will take you much longer to save that kind of money.

Even saving for a car downpayment can be difficult unless you have a really good job.

5. You Have Less of a Safety Net

While it’s nice to be able to do whatever you want all the time, it’s also important to know that there are some people out there who will help you when you really need it.

When you live alone, you don’t have anyone like this unless you have your friends and family to rely on.

This makes it harder for you because there’s no one else who will help if something bad happens.

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6. You Might Not Have Anyone to Talk To

Another big disadvantage of living alone is that you might not have anyone to talk to. 

This is definitely true if you live far away from your friends or family members.

Of course, it’s possible for you to talk on the phone or go out and visit them but it’s not the same as having someone there with you in person.

Sometimes, it’s nice just being able to have someone else with you so that you don’t feel so lonely.

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7. It’s Harder to Get a Loan If You Need One

If you need a loan, it can be hard to get one if you’re living alone.

It depends on what kind of loan but most lenders like to know that there are other people who will guarantee the loan and pay it back if you don’t.

Also, if you have two incomes to put down on the loan, the bank knows that if one of you loses your job, the other one should be able to pick up the slack.

8. You Have More Bills

If you live on your own, you’ll have more bills because they’ll all be in your name.

This can be good in some ways such as building up your credit score if you pay your bills on time, but worrying about all of these expenses might cause you lots of stress.

9. If You Lose Your Job You’re in Big Trouble Financially

Living alone means that you’ll have to fend for yourself if you lose your job.

It’s definitely a scary thought because no one is going to look out for you.

You might also enjoy:

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10. You’ll Have More Responsibility

If you live by yourself, you have more responsibility to worry about.

For most people, this is a good thing because they’re responsible for themselves and the things that they own.

However, if you live alone you’ll be responsible for your finances in general as well as your home and your car.

This can make life a lot more stressful because it’s very important that everything works out properly but it doesn’t always do so if you’re on your own.

To Sum it All Up:

In short, living alone can be a wonderful experience. It has its ups and downs but it also comes with many benefits.

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