How to Compromise, Money-Wise
By Matt Booher

You've unpacked, settled in, and started to look around your room. For some reason, it just isn't right, and you and your new roommate(s) decide to head out and pick up a few more things to make your 20'x 20' box feel more like home.

But roommates and money can be a touchy—if not potentially volatile—subject. Despite everyone's best intentions and/or friendships, sharing expenses can be tricky. Here's some advice:

Create rules from the beginning. Before moving in together, sit down and discuss a budget. Then determine additional "shared expenses" such as furniture, bathroom supplies, appliances, etc. Share the responsibility equally, even if one of you offers to cover most of the expenses (that can come back to haunt you when you least expect it).

Stick to the rules. The first time you "bend the rules," you're setting yourself up for trouble. Make sure one roommate doesn't go out and buy a couple hundred dollars' worth of stereo equipment and then expect everyone to "chip in." Even sharing a $10 pizza can create conflict if one of the roomies is on a tight budget. Talk about setting a limit to spending and only go beyond it if everyone absolutely agrees to spend more.

Don't share food or scenarios such as this could result: You're on your way back from the recreation center after an exhausting day. You're hungry and your mind becomes locked on the fat slice of pizza sitting in the fridge. As you walk through the door, you see roommate devouring it in front of the TV. Now you're still hungry—and angry.

Split up the fridge and don't touch anyone else's food. Food isn't cheap. Unless all the roommates share similar eating habits and the same schedule, you're never going to get along on this one!

As for the phone—when the bill arrives, use different colored highlighters or pens to go through and select your long-distance calls separately so each of you can pay the appropriate amount. For any unclaimed calls, agree to add up the cost and divide it equally. The same rule should apply for other charges such as caller ID, call waiting, or monthly service charges.

Communicate—weekly. After a while, chances are you'll discover some methods work, some don't. Perhaps as a group, you're spending more than you'd like. Maybe one of the roommates has money problems. Or it might be time to pool your resources and throw a party. Whatever the case might be, no harm can come out of sitting down and talking the situation.

Good luck and happy compromising!