Avoiding cash crises in a shared house
Moving from halls into shared housing’s got a lot going for it. The ability to choose your housemates, not least, and with a little luck a far more favourable shower-to-person ratio.
Little things these are not. But with new housing comes new responsibility, as Spiderman’s uncle nearly said. Namely, forking out for rent and bills. This is the start of the rest of your bill-paying life. Exciting, no? No. But it is expensive. You owe it to yourself to make it as cheap as possible, and even if they’re useful for nothing else, this is where your housemates can help.
Shared housing means shared costs. Utilise this wisdom as much as possible. As soon as you’re in you new abode, gather for a house meeting to discuss payment and splitting of bills and rent. Rent isn’t always straightforward - some landlords will split the rent evenly, but sometimes it will be up to you to split the rent between you – if, for example, there’s a big disparity in the size of rooms. This is something that probably will have been agreed on before moving day though.
Bills should always be split evenly - regardless of how often some flatmates are actually at the property. It’s no use staying at your parents or partner’s a lot then claiming you don’t use the central heating a much as anyone else, therefore you shouldn’t pay the same amount. Arguments will – and I speak from experience – inevitably ensue.
It’s an obvious but important point – pay bills wherever possible by direct debit. Set up a standing order to the poor person who’s responsible for paying (and unless you live with someone who veritably thrives on responsibility, it should be different people for different bills) so they don’t have to chase everyone every month.
Shopping
Shared food works for some people and not others. Lucy Edmunds, student at Roehampton University, warns that ‘sharing food causes arguments. Buy your own’. While many would agree, sharing costs on the basics – milk, butter, bread and whatever else none of you can live without – can save you a small fortune. (Buying bread and milk for one person, unless you get through it very quickly, is rarely economical.)
Some other things, such as toilet tolls and lightbulbs, can be bought in turns, but in order to prevent arguments to try and remember whose turn it is. A rota might help, or putting the initials of the person who bought it last on the packaging.
Cooking and eating together is one of the nice things about living with your friends. Perhaps arrange a couple of nights a week where you’ll make sure this happens, and this will help to save you all money as each meal, when split, can cost as little as a pound each.
When you first move in, each of you should put some money together and buy some cleaning products. These will last you a long time (probably longer than they should?) and you won’t have to think about it for a term at least.
Social life
You may decide on just one TV in your property to save money. Sometimes it’s a conscious choice to make the house a bit more sociable. A house where everyone keeps to their rooms is not a happy house. And a film night (or PSP, Nintendo Wii, Eurovision night – the list goes on) can make a poverty-induced night in much more fun.
And of course a shared house means house parties. If all guests bring a bottle, it’s actually a very cheap night.
But – and this can’t be stressed enough – it’ll make your life easier if you maintain a good relationship with your neighbours. Inform them if there’s going to be more noise than usual.
Saving money and the environment
For we are in a globally warmed world, my friend. Recycle anything possible. If living in flats, there is usually a separate bin to put recyclable products. You council will be able to give you more information.
Having a shower instead of a bath saves about 40 litres of water. This will save you a lot of money on your water bill as well as doing your bit for the environment.
If you’re serious about saving money on bills, get tough. Only put your heating on when really necessary. If you are not using a room, turn the radiator off and make sure you turn the heating off when you go home for the holidays.
And having a strict household rule about turning lights off will make a noticeable difference to your electricity bills.
So, the top house-sharing money-saving tips are as follows:
- Decide how the rent will be split.
- Split bills evenly.
- Decide on how the shopping list will be split and maintain it.
- Practice your hosting skills and arrange some good nights in.
- Make sure everything is switched off and not left on stand by.
- Maintain a good relationship with your landlord - when something breaks he’ll be more likely to fix it sooner, meaning you don’t have to pay for getting it fixed.
