Student life is now in full swing, with Freshers Week now a distant memory and most students now settled into their accommodation. No matter how close friendships are, money will always be a contentious issue with any group of people living together, so bill-splitting provider Glide has developed a list of top tips to ensure the only arguments in the house are which Netflix series to binge next!
Take the stress out of monthly bills
Now the contract for the house is signed, every person living in the house should be contributing to the bills. There is nothing more awkward than having to chase people to transfer money for their share, or one person being out of pocket at the end of the year, so using a bill splitting service takes the headache out of utilities management, and ensures each housemate is sent a monthly bill directly, rather than the pressure being on one person.
With so many apps available to help you with everyday tasks, from ordering a taxi to doing the weekly food shop, let technology take the stress out of calculating who owes what. Services such as Monzo and Uber now offer splitting functionalities, so everything from morning taxis to lectures to late-night McDonald’s can be split between multiple users at just the touch of a button.
Although it may seem hassle-free to split all household costs down the middle, any compromises needed to be agreed up front, to ensure a harmonious household and that everyone feels they are being treated equally. For example, it’s reasonable for your vegan housemate to not feel comfortable chipping into the weekly shop fund, when they would be unable to eat a substantial amount of it, or for someone who is tee-total to be missed out of the house-party booze money collection. However, household items that everyone uses, such as toilet roll and shower gel, aren’t the responsibility of one person to buy, so a conversation needs to take place before resentment starts to build.
Make the most of discounts
Although not technically a bill splitting tip, there are tons of ways you can save money on day to day items, and sharing these among a group will reduce the costs dramatically – if you are a household that loves to eat out, getting everyone to chip in for a tastecard will save you all a substantial amount – the one-off payment will give you 50% off at hundreds of restaurants, and whilst there is an initial cost to purchase an NUS extra card, you can redeem the cost against the money you will save on offers like 50% off a Spotify premium subscription – perfect for creating multiple accounts for every bedroom in the house.
To find out more about Glide’s bill splitting service, visit: https://glide.co.uk.