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No matter whether your roommate is your best friend or a total stranger, sorting out living and financial arrangements is integral to creating a peaceful environment free of interpersonal and financial conflicts.
Though it may be awkward, it is important to talk with your roommate about how you will share space and expenses. Establishing ground rules before you need them will go a long way in minimizing conflict.
In addition to discussing things such as lifestyle habits, daily schedules, and who will do which chores, you and your roommate will want to discuss finances (ideally before signing the lease). As you prepare to talk about money, you will want to begin by identifying all sources of your income. In this way, you can develop a comprehensive understanding of your finances and, in turn, be equipped with the information that you need to talk with your roommate.
Select an image below to start navigating your financial terrain: