How to split the expenses with your flatmate?

How to split the expenses with your flatmate?

​When you're living with the flatmate, at some point of time or the other, you would have to split the expenses with your flatmate in order to ensure that the financial burden on both of you is reduced as well. At such a time, it can be awkward situation because you might not know how to split the expenses with your flatmate. We would be highlighting some of the ways in which you would be able to easily split the expenses with your flatmate without burdening yourself or your flatmate. 


1. The 1st thing which you need to decide is the percentage in which you are going to split the expenses. This would make it clear regarding how much each and every flatmate has to spend as well and therefore there would be no misunderstandings at a later stage as well. 


2. The 2nd thing which you have to look into is the amount which of the rent which would be paid by each of the flatmate. You have to also decide about the mode of payment and you have to decide about the date of payment as well. This would again ensure that each and everything is being done according to a schedule and therefore there is no confusion. 


3. After the food and beverages expenses and the rent, the next thing which you need to look into is the expenses of the utilities and other taxes which are to be shared. You need to find out about the usage of each of the utilities by each flatmate on average basis and then only you would be able to share the utilities as well. Regarding the taxes, which are associated with the property, those would be split in half and would be paid by each of the flatmate. 


You need to also understand that the utilities expenses can change from one month to another as well and therefore you need a mutual understanding between the roommates in order to pay the utility expenses. 


4. You have to ensure that you are keeping an emergency fund as well in case something goes wrong with the flat or in case repair and maintenance work is needed as well. When the repair or maintenance work is needed, you can spend from this emergency savings fund and therefore you and your flatmate both would not have to look into your monthly expenses in order to pay for the emergency repairs and you would be able to do it from the emergency fund which you have already set aside for this very purpose. 


So, when you're thinking of sharing the expenses with your flatmate or your roommate, these are the ways in which you would be able to do it easily without any misunderstanding or without any confusion as well.

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