Splitting costs and preparing your budget

These questions were asked by a few students (by e-mail and in person)-- I am posting them here so that everyone can benefit from them. Thanks.

1- Are we allowed to bring stuff from home?
example: bedroom furniture, TV, phone, VCR, etc.

* NO. Sorry, think of it as though your parents are not happy that you are leaving : ) and they do not want you to take any of your stuff. So you now have to deal with it by buying the basics.

2- For our shopping list, we made a list of necessities, and then made a list of what we would buy every month. On the sheet it said to make a weekly shopping list though. Is it okay if we did it monthly?

* Monthly would be acceptable, BUT, in reality, you would find that there are certain things you will need to buy every week (milk, maybe juice, fruit, things like that)
* You might want to do a monthly list of things that you would likely buy only once a month, and a second list of weekly 'essentials' (like, say, one Cadbury's Caramilk 'Thick' chocolate bar.... mmm, caramilk in thick form.....yuuuuuuuuuummmmmmm)

3- Everything we pay (rent, groceries, telephone, furniture, kitchen & bathroom accessories, etc) is divided in half. Is that okay?

* If you are living with a roommate, OF COURSE it is okay if your budget shows some expenses that are divided in half. You will let me know that you are sharing with someone in your write up. HOWEVER, each person is still responsible for handing in their own budgets and assignment. It just means you can cut down on your expenses.

4- We each write how much our own expenses are? Or together in total?

* Each person needs to make a copy of their expenses

o You want to buy a couch.
o You find one at Value Village for $80.
o You decide that it doesn't smell tooo bad, and you are going to buy it.
o You and your roommate pay $40 each for the couch.
o You drag it home.

In your budget, you would enter the cost for the couch as $40, representing the amount that you had to pay.