Where do you currently live? Can you afford to live there? Is that your only option?
Now that you have survived COVID-19 it is time to reassess where your rent money is going. Can you help your family, by moving back home, get out of debt?
If you live with your family, trusted friend or roommate, everyone can save some money. But there must be trust, and notarized documentation by all parties (money seem to bring out the worst in people). Good intention does not always work well. Treat everything as a business transaction.
Everyone living in a home who are financially responsible for bills, should not be paying 50% of each bill. Each person has a different pay scale. The best way to manage these expenses is for all the bills to be totaled. Then figure out each individual’s percentage against their take-home pay. If that amount is 40%, each person will be paying different amounts to the bills but at the same percent. This way everyone will keep some money in their pocket.
We have simple tools to educate you on best effort financing. We are here to support you.
