How to plan a student apartment budget with roommates
For students living with roommates for the first time, the biggest surprise is everything outside the rent. Utilities, building fees, groceries and shared necessities quickly add up to a higher monthly budget than expected.
Here are the budget lines for a student apartment, a table for working out your own home's per-person cost and ways to cut costs.
Monthly budget lines
A household budget has two groups: fixed costs (the same every month) and variable costs (they change).
| Item | Type | How often |
|---|---|---|
| Rent | Fixed | Monthly |
| Building fees | Fixed | Monthly |
| Internet | Fixed | Monthly |
| Electricity | Variable | Monthly / bi-monthly |
| Water | Variable | Monthly / bi-monthly |
| Gas / heating | Variable, high in winter | Monthly |
| Shared groceries and cleaning | Variable | Weekly |
| Shared items and repairs | Variable, occasional | As needed |
Work out your own home's budget
Fill in your home's amounts in the table below and divide by the number of people to get each person's monthly cost:
| Item | Monthly total | People | Per person |
|---|---|---|---|
| Rent | ... | ... | total ÷ people |
| Building fees | ... | ... | total ÷ people |
| Internet | ... | ... | total ÷ people |
| Electricity + water + gas | ... | ... | total ÷ people |
| Shared groceries and cleaning | ... | ... | total ÷ people |
| Total | monthly cost per person |
This figure leaves out your own spending (food, transport, phone); it is just the home budget.
Surprise expenses
- Deposit: moving in may need a month's rent or more up front.
- Shared items: a washing machine, fridge or kitchen gear affect the budget.
- Winter bills: heating costs jump in the cold months.
- Repairs and upkeep: agree beforehand with the landlord who is responsible.
Dorm or apartment? What to compare
Figures vary by city, so compare your own options line by line:
| Item | Apartment with roommates | Dorm |
|---|---|---|
| Monthly cost | Rent share + fees + utilities | Dorm fee |
| Food | Cook yourself or shared groceries | May be included |
| Flexibility | More choice of room and rules | More rules |
| Extras | Deposit, furniture, internet | Usually fewer |
| Transport | Depends on location | Depends on location |
First-month moving checklist
- Deposit and the first month's rent share.
- Personal items: bedding, towels.
- Shared kitchen gear and cleaning supplies.
- Internet set-up fees and starting the subscription.
- Moving and travel costs.
Ways to spend less
- Shop together: bulk buying lowers the cost of many items.
- Talk about heating and electricity habits: a heater on in an empty room or lights left on are small, constant leaks.
- Share subscriptions where the service's terms allow it.
- Keep records: seeing where the money goes shows where to cut.
A monthly budget routine
At the start of the month write the plan, and at the end compare it with real spending. If the gap is large, find out why: did the winter bill rise, or did the groceries balloon? After a few months your home's real average appears. Ev Ortağım helps by logging rent, bills and groceries by category and showing a monthly summary of who spent what.
Frequently asked questions
How much does a student apartment cost per month?
It depends heavily on the city, the home and the number of roommates. Use the table above to work out your own home's figure.
How do roommates make a household budget?
List every cost line, write the monthly totals, divide by the number of people and compare with real spending once a month.
Why does the budget rise in winter?
Heating (gas, electricity) costs go up in cold months. Planning with a yearly average smooths this out.