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Pros Cons
Save money on rent, utilities They may miss payments
They help you clean They make a mess
You’ll have built-in friends You might not get along
You can share furniture You’ll have less privacy
There’s potential for lots of fun There’s potential for massive noise
You can help each other out Constant favors can be annoying
Discuss with your roommates what criteria you will use to
assess whether to live with a roommate or housemate.
Lesson Objective:
Students will be able to gain a deeper focus on negotiation, clear communication, and
budgeting logistics that takes effort and organization between roommates.
Sub-Objectives:
Assume the role of roommates deciding how to split costs of a shared apartment.
Create a budget and formulate a “Roommate Plan” that is tailored to the different
housemates’ needs and preferences
State Standards
Financial Responsibility and Personal Decision Making
Education, Careers, and Income
Planning and Money Management
Right out of college, many young adults choose to live with roommates
because of the cost saving advantages. However, working out the budgeting
logistics between roommates takes some effort and organization.
Part I: FormYour Group
Ideally, you should be in a group ofTHREE students for this activity, because the apartment you’re renting
has three bedrooms, and the scenario is written for three roommates.
Decide which of you will play each roommate in the scenario. If you have a different number in your
group, use one of the following:
• If you’re a group ofTWO, remove one of the character scenarios, but make sure you divide shared costs
by 2 instead of 3.
• If you’re a group of FOUR, the fourth group member will play the role of “Out-of-Luck Friend,” who
finds themselves (1) without a job, (2) with an emergency savings account of $3000, and (3) asking your
group of friends if (s)he can crash at your 3-bedroom apartment until they find a job and their own
apartment.
REVIEW
THE
ROOMMATE
SITUATION
PART III: FORMULATE A
ROOMMATE PLAN
PART IV: CREATE A MONTHLY BUDGET
State Standards
Financial Responsibility and Personal Decision Making
Education, Careers, and Income
Planning and Money Management
Budgeting with roommates

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Budgeting with roommates

  • 1. Pros Cons Save money on rent, utilities They may miss payments They help you clean They make a mess You’ll have built-in friends You might not get along You can share furniture You’ll have less privacy There’s potential for lots of fun There’s potential for massive noise You can help each other out Constant favors can be annoying Discuss with your roommates what criteria you will use to assess whether to live with a roommate or housemate.
  • 2. Lesson Objective: Students will be able to gain a deeper focus on negotiation, clear communication, and budgeting logistics that takes effort and organization between roommates. Sub-Objectives: Assume the role of roommates deciding how to split costs of a shared apartment. Create a budget and formulate a “Roommate Plan” that is tailored to the different housemates’ needs and preferences State Standards Financial Responsibility and Personal Decision Making Education, Careers, and Income Planning and Money Management
  • 3. Right out of college, many young adults choose to live with roommates because of the cost saving advantages. However, working out the budgeting logistics between roommates takes some effort and organization. Part I: FormYour Group Ideally, you should be in a group ofTHREE students for this activity, because the apartment you’re renting has three bedrooms, and the scenario is written for three roommates. Decide which of you will play each roommate in the scenario. If you have a different number in your group, use one of the following: • If you’re a group ofTWO, remove one of the character scenarios, but make sure you divide shared costs by 2 instead of 3. • If you’re a group of FOUR, the fourth group member will play the role of “Out-of-Luck Friend,” who finds themselves (1) without a job, (2) with an emergency savings account of $3000, and (3) asking your group of friends if (s)he can crash at your 3-bedroom apartment until they find a job and their own apartment.
  • 5.
  • 6. PART III: FORMULATE A ROOMMATE PLAN
  • 7. PART IV: CREATE A MONTHLY BUDGET
  • 8. State Standards Financial Responsibility and Personal Decision Making Education, Careers, and Income Planning and Money Management