Table of Contents
- 1 Tips On How To Split The Bills With Your Roommates
- 1.1 Talk to your roommates about how you want to split the bills.
- 1.2 Figure out who will be in charge of paying which bills
- 1.3 Make a budget and stick to it.
- 1.4 Have a system for tracking payments
- 1.5 If someone falls behind on their payments, talk to them about it.
- 1.6 Be understanding and flexible when it comes to splitting the bills.
Tips On How To Split The Bills With Your Roommates
Talk to your roommates about how you want to split the bills.
If you don’t talk about splitting bills upfront, you could end up with someone who is constantly paying more than they should or, even worse, having the utilities shut off because no one else will pay their portion of it. Make sure you are all on the same page regarding how each of you should be paying for certain bills, whether that’s in equal parts or by percentage.
Figure out who will be in charge of paying which bills
Who is better at managing money? Who has more disposable income? Who will be in the house more often? Figure out who should be responsible for each bill and rotate between roommates to make things fair.
Make a budget and stick to it.
Once you know who is paying what, sit down together and create a household budget, so you all know what your money is going towards. Then, stick to it and keep track of each bill coming. Make sure you review the budget at least once a month, even if your expenses haven’t changed that drastically. Then, adjust accordingly.
Have a system for tracking payments
Since everyone will be paying different bills monthly, you’re going to need some way to keep track of who has paid and how much. Have designated envelopes for each bill, along with a list of what’s in each envelope, so you know it hasn’t been used before. When someone pays their portion, they can remove the amount from the envelope and put it back in their budget. By doing this, you will be able to tell who still owes what.
If someone falls behind on their payments, talk to them about it.
You must let your roommates know if they are falling behind on a bill as quickly as possible to make payment arrangements if needed. Try not to jump straight to having the utilities shut off immediately. Instead, sit down with your roommates and come up with a plan to get the bill caught up. If they have money problems, try to help them out by giving them some extra time to pay or suggesting cheaper services like cable or internet.
Be understanding and flexible when it comes to splitting the bills.
When splitting bills between roommates, you should all work together. Try not to get frustrated when the amount owed changes month to month, and make sure you and your roommates talk about things before they become a problem. Keep an open mind and try to be as fair as possible with how bills are split. Don’t forget that splitting bills is a team effort!
Summary
Splitting the bills with your roommates can be a difficult process, but it’s important to remember that you can make it work by being understanding and flexible. By talking to each other about how you want to split things up, figuring out who will be in charge of paying which bills, and creating a budget together, you can make sure everyone is on the same page when it comes to money. Have a system for tracking payments, so you know who still owes what and be understanding if someone falls behind on their payments. In the end, working together towards common goals is always easier than going at it alone!