Shared hosting is the most economical option for webmasters. Because you share a server with other websites, the total costs of running the server are spread over multiple users. This makes it a less expensive option, and may make sense if you're on a tight budget.
Another advantage is that you don't necessarily need a lot of technical skills to get started with shared hosting. We generally handle issues like maintenance and security, so these responsibilities won't fall on you. If you are new to running a website or if technical skills are not your forte, you will find it easier to get started with shared hosting.
