Photo Credit: [phil h] via Compfight ccMany Americans are struggling financially and splitting rent with a roommate may, for many, seem like a great way to save money… but is it really a good idea?

There’s no doubt that living with someone, whether a friend, family member or spouse, can at times be challenging, but a roommate can also put your happiness and financial security at risk.

It’s possible that a roommate can save you money on living expenses, especially if you live in a high-rent area, but rooming with someone you don’t know very well (or even someone you do know) can lead to trouble.

Before you decide to take on a roommate, remember, roommates aren’t for everyone.  Here are a few things to consider before you run that “roommate wanted” ad.

How well do you know your roommate?  Running a background check and checking references just makes good sense, especially in the times in which we live.

If the cost of a background check is too much for you to spend, at least check social media and do a Google search to try and learn all you can about a prospective roommate.

Be sure to prepare a Roommate Agreement before you start interviewing roommates.  It is important to establish rules and how responsibilities will be divided… especially financial responsibilities.

If you are renting from someone as opposed to renting out a room in a home that you own, have your roommate added to the lease so you are not the one who is solely responsible.

If you are considering a roommate because you are struggling with your finances, unable to pay your bills or you are interested in becoming debt free, call Debthelper at 800-920-2262, or visit @ www.debthelper.com.