Splitting Utilities with Roommates: Tips and Tricks for Sharing Household Expenses

March 8, 2023

Living with roommates can be a lot of fun. From sharing meals to watching movies together, there's always something to do. However, when it comes to splitting household bills, things can get a bit complicated. Splitting utilities with roommates is not always easy, but it doesn't have to be a headache. With the right tools and a little bit of planning, you can split costs with housemates without any hassle. In this article, we will explore the best ways to split household expenses with your roommates and how to use online bill splitting services like Split Now to make the process easy and stress-free.

The Best Way to Split Bills with Roommates

When it comes to splitting bills with roommates, there is no one-size-fits-all approach. Every household is different, and what works for one group may not work for another. However, there are a few tips and tricks that can help make the process easier. Here are some of the best ways to split household expenses with your roommates:

  1. Use an online bill splitting service: Gone are the days of arguing over who owes what when it comes to splitting household bills. With online bill splitting services like Split Now, you can easily divide expenses among your roommates. Just flick your crew a Split Now link and get paid by everyone, instantly. All for free. No more chasing down your roommates for their share of the rent or utilities!
  1. Divide expenses by percentage: If you're living with roommates who have vastly different incomes, it may be best to divide expenses by percentage. For example, if one person earns twice as much as everyone else, they may be able to afford to pay a larger share of the rent or utilities. Dividing expenses by percentage ensures that everyone is paying a fair share based on their income.
  1. Create a joint bank account: If you're living with roommates long-term, it may be worth considering creating a joint bank account to manage household expenses. Each person can deposit their share of the rent, utilities, and other bills into the account each month. This can make it easier to manage expenses and avoid any disputes over who owes what.

How to Split Costs with Housemates

Now that you know some of the best ways to split household expenses with your roommates, let's talk about how to actually go about it. Here are some tips for splitting costs with your housemates:

  1. Make a list of all household expenses: Before you can start splitting bills with your roommates, you need to know exactly what expenses you're dealing with. Make a list of all the bills you need to pay each month, including rent, utilities, internet, and any other shared expenses.
  1. Determine each person's share: Once you know what expenses you're dealing with, you need to determine each person's share. You can do this manually by calculating each person's share of the total expense or by using an online bill splitting service like Split Now.
  1. Agree on a payment method: It's important to agree on a payment method that works for everyone. Some people may prefer to pay with cash, while others may want to use a bank transfer or credit card. Make sure everyone is on the same page about how payments will be made.

How do you split costs with housemates?

One popular method is to split expenses evenly among roommates, but that might not always be fair. For example, if one roommate uses a lot more electricity than the others, it wouldn't be fair for everyone to pay the same amount. Here are some other methods to consider:

  • Proportional splitting: This method involves dividing up the bills based on usage. For example, if one roommate uses 60% of the electricity, they would pay 60% of the bill. This can be a more fair way to split bills if everyone is on board with tracking their usage.
  • Flat rate plus usage: This method involves splitting the bill evenly up to a certain amount, and then dividing the remaining balance based on usage. For example, if the electricity bill is $300, you could agree to split the first $200 evenly, and then divide the remaining $100 based on usage. This method can provide a balance between fairness and simplicity.

Should all roommates split utilities equally?

While splitting expenses equally might seem like the easiest way to go, it's not always the fairest. If one roommate is using significantly more of a shared resource, it's important to adjust the bill accordingly. For example, if one roommate works from home and uses a lot more internet than the others, it wouldn't be fair for them to split the bill evenly.

Should shared bills be split evenly?

It depends on the situation. If everyone is using the same amount of a shared resource, like water or gas, then splitting the bill evenly might be the best option. However, if one roommate is using significantly more than the others, it's important to adjust the bill accordingly.

What expenses should roommates share?

Typically, roommates share expenses like rent, electricity, gas, water, internet, and other household expenses. It's important to establish what expenses will be shared before moving in together so that everyone is on the same page.

Splitting utilities with roommates doesn't have to be stressful

By using a bill splitting service like Split Now, and considering factors like usage and fairness, you can find a method that works for everyone. Remember, communication is key when it comes to sharing expenses with friends, so don't be afraid to speak up if something doesn't seem fair.