After moving into a rented home, we had a rocky first couple of weeks as we learned each other's spending quirks. We've been friends for years, but this was our first time stepping out on our own after college, and we had many spending spats.
Living with parents after graduation made it easy to save money, but now we have many more responsibilities on our hands.
We're also each other's spending opposite: Bridget dwells and dawdles while bargain-hunting; when Amanda wants something she'd better get it in 24 hours or her head will implode.
We came to compromises on several purchases. Splitting the costs for kitchen staples and cleaning supplies was a touchy subject, but so far it seems to be working out. Whoever is going shopping next picks up paper towels, milk, dishwasher detergent or whatever we're low on.
Bridget put up a coupon holder on the fridge, hoping it would convert Amanda into a coupon clipper. That hasn't happened yet.
But there have been spending moments for each of us that gave us pause and made us wonder if we were influencing each other.
This month our blog, Chicks and Balances, was a battle of the budgets. But in the end we agreed on one thing: We want to have fun but still have money left to put into savings at the end of the month.
But how much will we have left to save?
That'll depend on how much we continue to influence each other.
These are our financial wrap-ups after our first month of living under the same roof.
BRIDGET, 23, business writer for The Miami Herald:
Willpower. It was much easier to have when I lived with my parents.
Not only have I spent more than I intended while living with Amanda, but just moving into a new place is one big spending temptation.
I find myself tagging along with Amanda more often than before while she's on her shopping errands. And that puts me in direct exposure to wonderful things that I had no desire for when I left the house -- but then I convince myself I need them.
There are things I wouldn't consider buying before that now catch my eye, like garden decor and unnecessary kitchen accessories that call out to my inner Martha Stewart.
I now find myself parting with my money faster. Usually I can't make up my mind about buying something. That was a great tool to help me save. But now I don't put things back on the shelf so easily. Has Amanda's frequent spending made me feel less guilty about my spending, thus making it easier to swipe my card?
I've racked up several dozen receipts this month, but overall I didn't completely fail in my financial goals. I cut coupons, bagged a lunch for work, took advantage of buy-one-get-one-free sales and hunted from store to store to find the best deals on big-ticket items. When you add up all of the furniture, decorations, paint and appliances, my running tally for home expenditures is $3,271. At the end of all this spending, I was still able to put some money into my savings account.
Yet I bet I could have avoided much of the spending if I lived alone. I've always wanted a nice HDTV. So when our old TV broke, my lust for an HDTV awoke from its slumber. I dismissed it and figured I could wait until a post-Thanksgiving mega-sale.
Then again, Amanda kept saying we needed a TV now. My willpower was weak, and $500 later, with her by my side, I ended up buying a 32-inch LCD HDTV. I shopped around at several stores to find the best price, but if it weren't for her, I'm sure I would have waited weeks for an even better deal.
My bank account was cushioned by a tax rebate check, but I have to be more disciplined in the months to come. When you hang out with a shopper, you're going to spend more. I don't think there's any way of completely avoiding the influence. Yet it doesn't mean I can't be a smart shopper.
AMANDA, 24, works for a city police department:
While this entire experience may not have been as life-altering on my budgetary sensibilities as Bridget would have hoped, living with a hard-core penny pincher has been nothing if not entertaining.
I can't say for certain that I've learned anything in this month's time that will stick, but I have tried to retain some helpful habits that enable me to make smarter, and sometimes more monetarily prudent decisions.
When shopping for a computer, I was able to keep my debit card in my wallet long enough to call my father for a second opinion, and instead of going for the first deal I saw, I ended up shopping around and saving myself some money. Also, when overcome with the sudden impulse to purchase a PlayStation 2 system, Bridget convinced me to sleep on it. While I ended up buying it a day later, I was proud of myself for resisting the siren song of instant gratification.
Having Bridget as a roommate also has made me examine just how much I spend over the course of four weeks. My running total of house expenditures was $3,921. While I pride myself on never dipping into my savings account, I was startled to realize that I haven't exactly been putting away any substantial savings, either.
I seem to have let the lure of independence, as well as the enjoyment I get from shocking Bridget, inspire me to make snap-decision purchases on items I otherwise would hesitate over. I find myself being wooed by new electronics, movies and entertainment equipment that, on my own, I probably would not think to purchase. But now we have an entire living room to fill, as well as a gaggle of guests who demand entertainment.
I've let my ideal image of a perfect home overwhelm me, and it's caused me to step back and seriously reevaluate my current priorities.
Taking care of a home is not all about easy living and fun. It requires serious attention to bills and expenses, both planned and unexpected.
Happily, this is a concept that this experience made me realize exists. Hopefully, I'll be able to carry it into our remaining time as roommates.
