How to budget expenses while living with a roommate

How to manage your budget expenses while living with a roommate.

If you identify yourself as a member of generation z, you may have had a roommate all your life. 

You shared a bedroom with your siblings. Your parents or grandparents may have raised you. And then, you've gone to college or the military. And there were even more roommates, this time you have nothing to do with it. 

But when it comes time to go out on your own, you may find that you want to be with someone else for companionship - or because being alone can be very expensive, especially in some of the most expensive areas of the united states. 

Read this here are 7 financial habits. Which improves your daily life.
Tariq mahmood

I Take Anaheim, California, for example. It's close to your work and city facilities - how can you top Disneyland and two pro sports teams? - but a one-bedroom apartment you like costs about  $2,000 a month. So why not live with a friend in the same situation? 

A two-bedroom, two-bathroom apartment in the same building costs $ 2,500 - or $ 1,250 per person per month, representing a savings of $750 per month. You decide to sign a lease, but this is just the beginning of your adult plan to live with a roommate. Many decisions await you before you go inside and open the boxes. Read some tips to make sure you stay with them.

Prepare a budget

If you and your roommate - or roommate - if you have space for three or more people, it is important to create a single financial page before the day begins. So set a budget that you all agree on and that is fair to the group.

Some expenses are evenly distributed: rent, utilities, and internet service. If you subscribe to cable television, this is another line item to share equally, or you have to decide how to share Netflix and other streaming apps. If you rent a house instead of an apartment, find out what the landlord pays for. If you need to hire a lawn, distribute them evenly.

Who will pay for what?

Then there are other things. Who pays for food and drink? Who buys paper towels and laundry detergent? This is a gray area. Some people who have roommate experience say that you should probably avoid sharing. Jessica Xiao, chief marketing officer of sustainability company space white, is one of them. How well do you know the person you are going to live with? 

The first question to ask when a roommate enters into a new contract is always. If you have a high level of trust in this person, say he is a longtime friend, then this is an example where you can consider sharing the cost of things like food. If this is a situation where you are going somewhere with a new person, my advice is not to pay any price. 

Distribute rent, utilities, and internet 50/50 and cover each roommate with your food expenses, cleaning supplies, and paper products. Of course, you will have to double down on some things but it is actually much better than the headache that comes when you share and one person uses too much and refuses to pay his due share.
Whatever budget agreement you make, find out the costs on one of the many roommate apps available to hold all parties accountable.

Kathy Mills, director of net influencer's strategy, agrees that food should be everyone's responsibility. But, he said, other items may be assigned to roommates as part of household responsibilities.

"publish a list with the various tasks or purchases in the kitchen that everyone knows about kitchen and bathroom cleaning and toilet cleaning, such as dishwasher soap, as well as toilet paper for the bathroom," he said. Said, "again, everyone should be responsible for cleaning this toilet once a month, so that there is no misunderstanding."

Read: here are the 10 best cities to live a good life on a budget

Roommate contract.

If you're a fan of "the big bang theory", you'll know that Sheldon had a roommate with longtime roommate Leonard. This shows that many people are in favor of Sheldon's method.

Roommate's agreement will determine your living arrangements expectations, and on its website, legal zoom recommends.

That includes starting with the name, address, and details of the lease date, which bedroom each person owns, and the security deposit details. Then, include it all in your budget
Also according to the rules of the apartment, LegalZoom.

These rules may include hours of silence, an agreement not to use drugs, even if guests are allowed overnight, and guidelines for parties or large gatherings.
When you move into your new home, you are doing so with the expectation of enjoying your place and living conditions. Determining financial issues and setting boundaries and rules ahead of time will only help.