How Subletting Helps Offset Student Debt

In her classic 2011 song "Price Tag," Jessie J famously claimed, "It's not about the money, money, money." With all due respect to Ms. J, I disagree. Whether we like it or not, many things in life are, in fact, all about money, money, money, especially being a student.

Whether it's student debt, tuition, housing, meals, or even just the cost of books, students incur numerous expenses during their time at university. Thus, when the opportunity arises to save money and get more value by paying less, it is necessary to pounce. That's where subletting comes in. For both hosts and subletters, subletting is the perfect way to reduce the cost of living, allowing students to reallocate money toward offsetting student debts.

How Hosts Can Maximize Their Space (and Savings)

Subletting allows hosts to make the most out of unused living spaces. Instead of letting your room sit vacant while studying abroad or over summer break, you can bring another person onto your lease, allowing them to live in your room and pay rent. Student loans are a hefty undertaking, and saving money is crucial to repaying them. Ensuring that you aren't paying rent on an empty room is a great first step.

Moreover, in the case that you're able to sublet multiple rooms, you could cover your own rent and garner a surplus, heightening your ability to put money toward student loan payments.

The Subletter's Financial Advantage

Additionally, due to its short-term, flexible nature, subletting assists subletters in offsetting their student debt. Foremost, subletters often pay below-market figures for rent, especially in scenarios where hosts are pressed for time in finding someone to fill their space. Paying a lower monthly rent amount can yield abundant savings.

Also, most sublets come pre-furnished, both in the bedroom and around the apartment, allowing subletters to maintain cash on hand instead of spending it on buying amenities for the property. Most importantly, specifically for Squibber's mission, subletting can eliminate the excessive fees that come with searching for a property and signing a lease. It can eliminate broker fees, which are unnecessary costs that only serve to drain students' pockets.

The Long-Term Impact

Ultimately, from the perspectives of both a host and a subletter, subletting allows students to rebalance their budgets and reallocate money. They can use the excess funds to pay loan interest, to prevent it from compounding, and make their minimum monthly payments, to reduce long-term balances. Smart financial decisions don't happen down the line - they start small, early on, and pay dividends later in life. Subletting can be your next smart financial decision.

Your Financial Future Starts Now

So, the next time Jessie J gets in your ear, singing a catchy tune about how unimportant money is, feel free to smile and dance. Because with Squibber, you know that you're saving for your future no matter what.