Skip Nav
How to Travel Around 3 Countries in 3 Months — Without Losing Your Job
Fun Ways to Teach Your Kids About Money
Female Empowerment
Amplifying Their Voices: How 1 Huge Company Is Investing in Female Workers

Money and Roommates

Money & Roommates: It Doesn't Have to Be Awkward

While it's not necessarily something you would see on an episode of Friends, discussing finances with your roommates will save you time and money in the long run. Before you unpack those boxes or even sign the lease, discussing expenses like rent, bills, and utilities will keep the peace and assure the bills are paid. Although it's not a lighthearted topic, simple steps like setting a plan and communicating will assure you and the crew can carry on debt free!

Have a Plan

First things first, have a plan! There are a lot of factors that go into moving, but it's important to make money a priority. Before you start to unpack, schedule a time for everyone to meet and have a plan about what you want to discuss. Along with paying the monthly rent (and how you're going to go about doing that), discuss the details like utilities, cleaning supplies, cable, and groceries. While these things seem minor, they are often the triggers that lead to future problems. Be honest about your expectations, budget, and how you'll split the costs. It's a good idea to have a list beforehand and be prepared to meet in the middle.

Get It in Writing

After you finalize your payment plan, be a stickler and get it in writing. While it may seem excessive, especially if you're living with your best friend, it could save your friendship down the line. Most importantly, make sure you both have signed the lease agreement — you don't want sole responsibility for any damages! Before you turn that key, quickly write up a document that includes everything discussed in your money talk, as well as bill due dates. This will confirm exceptions and will hold everyone accountable.



It's only human nature for things to come up. Communicate! To avoid payments from being swept under the rug or bills going unpaid, keep your roommates in the know. Being open allows everyone to avoid grievances, make compromises, and discuss solutions. It's also important to remember that costs may increase or fluctuate. In this case, it's important to let everyone know how you plan on handling these changes moving forward.

Image Source: Thinkstock
Around The Web
Join The Conversation
Signs of Sensory Processing Disorder
Tips For Marriage After Kids
How to Talk to Kids When They Misbehave
What Not to Say to Pregnant Women
Essential Hand Signals For Dogs
What to Do at Indoor Playdates
Tips For Clean Eating

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Career
All the Latest From Ryan Reynolds