Investing;Real Estate Curing the Roommate Blues Sick of dirty socks littered everywhere and pets running rampant? These five steps can make life a little smoother Investing Investing Survival Guide By Alex Halperin For many college grads streaming from bucolic campuses to entry-level jobs in big cities, a roommate is essential to make ends meet. Two-, three-, and four-bedroom apartments tend to offer better value than studios that offer nothing but privacy. Roommates can also be fun. Abby Wilner, co-author of Quarterlife Crisis (published by Penguin Putnam), a book about life for 20-somethings, suggests that young people who don't live alone may be happier. After the cocoon of college, it's "also a good way to create a new social network." That may be true, but living with other people can also be a hassle. Roommates have annoying habits—just ask my roommate—and everyone has their own perspective on how many cable channels they should pay for, or how much of their peanut butter is communal. Disagreements can turn ugly, and even the better scenarios will have a few minor problems. Since roommates can be necessary to financial independence, this Five for the Money offers a few tips on how to get along with cohabitants, or at least how to avoid killing each other. 1. Be an adult. Living with a roommate and having a job is not the same thing as sharing a room or house in college and the burden of a few hours of class a week. "Being late for work is not the same as being late for class," writes Cathy Stocker, who collaborated with Wilner in a follow-up to Quarterlife Crisis titled <cite>The Quarterlifer's Companion</cite> (published by BusinessWeek.com parent McGraw-Hill (<ticker>MHP</ticker>)). Young people in the work force lead lives often much more complicated than those of college students, and they should not expect working life to be an exact continuation of school. Even if no one mentioned it in college, you should probably also know to pick up your socks by now. 2. Be prepared. Whether they have been friends for years, or have just met using Craigslist, roommates should sit down and hash out financial and other details to ensure that they are compatible. "You may like each other, but that does not mean you will like living together," Stocker writes in an e-mail. In addition to figuring out who will be paying how much for what, she says potential roommates should get an idea of factors like cleanliness, chores, and schedules to make sure you have a good fit. If someone likes to let their pet ferret run around the apartment, it's best to know before signing on the dotted line. 3. Get it in writing Money probably causes more tension between roommates than anything else. Factors like different-sized rooms and wide salary disparities can cause disagreements over even small amounts of money. Some awkwardness may be inevitable, but there are good ways to keep it to a minimum. In addition to having all roommates sign the lease, Laura Levine, Executive Director of the Jumpstart Coalition for Personal Finance Literacy, suggests that roommates should also put financial agreements about bills into writing. "You may not prevent problems from arising, but you'll certainly make them easier to resolve later," she writes in an e-mail. Another tip: Each roommate can assume responsibility for collecting funds and paying a specific bill each month. 4. Make (an occasional) night of it Even if they're not close friends, roommates should set aside one night a month to go through household business and enjoy each others' company, maybe over a homemade dinner, observes Wilner. These meetings can be a good time to vent about any problems that may not be receiving the attention you think they deserve. Annoyances "build over time and never get addressed," Wilner says. "It's good to be upfront with each other if you're going to live together." 5. Live with your parents Just as living with a roommate can save money, in some cases it may be preferable to move back in with Mom and Dad. It's a good way to save on rent, and the odds are better that you'll have an in-house washing machine and dishwasher. Moving back home isn't for everyone. Elina Furman, author of Boomerang Nation, a survival guide for 20-somethings living with their parents, says the practice is "becoming much more acceptable," and not just for people reluctant to grow up. Living with parents "could be a launching pad as opposed to a crash pad," she says, as some young entrepreneurs have started businesses at home. It can also be a good way to pave the road to financial independence. And unlike other roommates, at least with your parents, you've already lived with their annoying habits. http://www.businessweek.com/investor/content/aug2006/pi20060814_599457.htm http://www.businessweek.com/investor/content/aug2006/pi20060811_698279.htm,http://www.businessweek.com/investor/content/aug2006/pi20060811_085526.htm,http://www.businessweek.com/investor/content/aug2006/pi20060814_677701.htm False