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5 Frugal Living Ideas You'd Never Think Of

Get a Roommate
Slashing your rent in half can really save you money.
Slashing your rent in half can really save you money.
Tim Kitchen/Getty Images

The other methods we've mentioned could save you hundreds of dollars a year. This method literally slashes most of your expenses in half. Imagine if your rent, electric bill, gas bill and cable bill were all suddenly cut by 50 percent -- and you had an extra set of hands to help out in the garden.

Of course, getting a roommate can be a major sacrifice if you've been living on your own. Having the privacy and freedom of your own place is one of the things we all strive for, and giving that up is a big step for some people. But if you're serious about saving money, there are few better methods.

If you want to make this situation work, you need enough space in your place for someone else. You'll also need to work out all those little details like who does the dishes and so on. A thorough background check and security deposit is in order if you'll be acting as the landlord.

If you already live in an apartment, taking on a roommate should be relatively simple. You'll probably have to ask the landlord, but they'll typically deal with the lease, adding the new tenant and other details. If you're going to rent out space in your own home, there will be more complications. You'll have to learn the legal aspects of the landlord/tenant relationship, and your city or town may require special permits or inspections for properties that will be rented out.