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Having roommates can be a great way to reduce your monthly living expenses. It can also mean living in a bigger apartment or a nicer area than you could otherwise afford.

But negotiating finances with friends (or strangers) also comes with potential pitfalls, especially if you have roommates who don’t always pay what they owe, when they owe it.

Luckily, whether you already won the roommate lottery or are just trying to make the best of living with someone you barely know, figuring out how to share roommate expenses doesn’t have to be hard.

What follows are tips for splitting expenses with roommates so that everyone feels like things are fair in your household.

Managing Money With Roommates

These 25 strategies can help ensure that monthly expenses get divvied up fairly — and everyone is on the same page from the moment you first move in together.

1. Making Decisions Together

Whether you and a friend are moving in together for the first time or you already live together and you’re bringing in someone new, it can be helpful if you decide as a group how you’re going to handle finances. You might consider having a meeting right away to establish how you’ll be splitting costs.

2. Making a List of What You Both Own

Before moving in together, you and your roommates may want to make a list of what you both already own and can bring to the apartment for communal use. For example, if your roommate has a stand mixer and you have a nice collection of baking pans, that can be a useful combination. If you can contribute a couch, your roommate might be able to find a kitchen table.

3. Figuring Out How You’ll Split Monthly Expenses

Many roommates find that part of sharing a household might mean sharing more than just rent and utility bills. You may want to consider sitting down with your roomies to figure out what monthly expenses beyond rent and utilities will be shared and how you will split up these costs. This may include cable, wifi, and any subscription services like video streaming.

4. Splitting Costs Evenly…

Since it can be difficult to determine who used a certain amount of electricity or watched the most Netflix, it could make sense to simply split costs down the middle (or evenly among roommates). That can save a lot of time and energy and could be the most fair arrangement.

5. …Or Splitting By Percentage of Use

If you or your roommate uses certain utilities or services significantly more than other members of the household, you might want to consider splitting by percentage of use. For instance, perhaps your roommate is a photographer and is always plugging in lights to take photos, and maybe you’re only home four days a week. A percentage is more complicated, but could be more fair.

Recommended: Strategies to Lower Your Energy Bill When Working From Home

6. Deciding Who Will Pay the Bills

To streamline bill paying (and make sure no bills end up falling through the cracks), it can be wise to put one person in charge of actually paying the bills. You may want to designate that person from the get-go, and then everyone else can send this person the money before the bills are due every month.

7. Keeping a Written Document of Expenses

Whether you split each cost evenly, or by a percentage of use, it can make sense to write down each person’s share of expenses and what they can roughly expect to pay each month — so no one is blindsided when it comes time to pay the bills.

💡 Quick Tip: Help your money earn more money! Opening a high-yield bank account online often gets you higher-than-average rates.

8. Figuring Out How to Divide Household Supplies

Once you have the details of the non-negotiable bills nailed down, you may want to next look at how you want to manage the cost of household supplies.

For example, while some roommates don’t mind toting their own roll of toilet paper into the bathroom, many find that it is easier and more economical to split the cost of a bulk package.

9. Deciding Whether to Share Groceries

Even if you have different tastes in food and purchase the most of your groceries separately, you may find that sharing basics, like gallons of milk, coffee, and juice, even bags of rice or quinoa, may be more economical. If you cook meals together, you may want to go in on even more weekly groceries to help save money on food.

10. Keeping Some Purchases Separate

Just because you plan to share a couch doesn’t mean you need to share the bill. While it may seem sensible to split the cost of furnishings and electronics for your rental, you may also want to consider what will happen when your lease is up.

Unless you and your roommates plan on selling everything when the time comes to move out (and splitting the proceeds), paying for things separately can make things simpler in the end.

Recommended: 25 Tips for Buying Furniture on a Budget

11. Establishing a Budget

If you and your roommate have agreed to buy groceries or other items together, you may also want to discuss a monthly budget before you start making household purchases.

You might be fine with generic toilet paper, while your roommate wants to spring for the expensive name-brand stuff. Getting on the same page about how much you’ll spend each month on communal items can help avoid money squabbles later.

💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.

12. Finding an Easy Way to Track Expenses

You might give one roommate the responsibility for keeping track of your expenses and how much each roommate owes, as well as logging who paid what and when. They could do this on a spreadsheet or through an app. That way, each person will know exactly how much they owe, as well as what they’ve already paid.

13. Deciding How You Will Pay Each Other

Gone are the days of writing checks or going to the ATM to reimburse roommates for rent and other expenses. With all the peer-to-peer money transfer options now available, you can quickly and easily pay each other without cash.

You may want to sit down with your roommates and decide which app you’re going to utilize, make sure everyone has it downloaded to their phones, and then use it to reimburse each other.

14. Drafting a Roommate Agreement

When you first move in with a roommate, or when another roommate is moving in, you might want to create a roommate agreement that is separate from the rental contract you have with your landlord.

The agreement could spell out all the financials, such as how you will split costs, as well as some basic ground rules, such as parking and having guests over.

15. Setting Consequences for Failure to Pay Your Share

Nobody wants to be the bad guy, but if a roommate isn’t paying their share of expenses, you may want to make sure that there are some consequences.

For instance, you could agree (and even include this in your “roommate agreement”) that if a roommate doesn’t pay the bills on time once, they would take on all the household chores until they can pay, and if they fail to pay a second time, they would need to to leave the rental.

16. Making Late Payers Cover Late Fees

You may want to make it clear that If one roommate is late with their payment and, as a result, triggers a late fee or penalty, then that person would be responsible for paying those additional charges. (You may also want to make this rule clear in your “roommate agreement.”)

Recommended: How Long Do Late Payments Stay On a Credit Report?

17. Discussing Responsibility for Damage

It can be a good idea to also discuss who will be responsible for covering the cost of any unexpected expenses, such as damage to your rental.

You might agree (and put in your agreement), for example, that whoever is responsible for any damages must pay for them. That way, if your roommate’s dog chews up the door frame, it would be up to them to pay for the repairs.

18. Splitting the Security Deposit

It often makes sense to have all the roommates contribute to the security deposit. That way, they will all be equally invested in keeping the place nice so that they get their portion of it back upon moving out.

19. Sharing Expenses for Get-Togethers

Get-togethers like BBQs and Super Bowl parties can be great bonding experiences for roommates and their friends. When having one of these events, all the roommates can chip in so that the celebration is fun, as well as affordable.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

20. Having Monthly Meetings

Roommates that don’t communicate effectively can become resentful and end up disliking each other. By having monthly meetings to discuss finances and other issues, everyone has a chance to air their grievances and figure out solutions for problems going forward.

21. Avoiding Passive-Aggressive Notes

It can be tough to live with roommates and deal with all their quirks, especially when it comes to money. But even if someone is late paying a bill or otherwise not doing their fair share, posting notes can end up creating hostility.

You may be able to resolve the situation more effectively by being direct and honest with each other either in a one-on-one or monthly roommate meeting.

22. Not Laying Out Money for Bills Until Everyone Has Given Their Portion

If you are responsible for paying the bills, you may find that it’s easier to pay them with your money and then collect from your roommates later. However, this can put you in a bad position if your roommates take their time in paying you back.

Instead, you might want to set a rule that you will only pay the bills once your roommates have given you their share.

23. Discussing Ways to Save Money

If utility bills or other shared expenses are on the high side, you may want to sit down with your roommates and talk about some ways to cut expenses and save money. You might decide, for example, to invest in energy-saving light bulbs you can turn off using an app or get rid of one or two streaming services.

24. Finding Coupons Together

You can make saving money a group activity with your roommates. Every week, before you go shopping, you can all look for coupons to use at the store on sites like Coupons.com and SmartSource.

25. Choosing Responsible Roommates

When vetting potential roommates, it can be helpful to discuss some of the expense-sharing ideas listed here. If they are open and amenable to sharing expenses equitably, you should have very few issues when it comes to splitting costs.

You may also want to make sure any potential roomies have a steady income, good referrals, and a solid credit score, as this can indicate they tend to be responsible with money.

The Takeaway

While roommates come with many benefits, sharing a space — and expenses — with other people isn’t always easy.

Being open about finances and setting some ground rules from the get-go, however, can help ensure that everyone contributes their fair share and all your bills get paid on time.

Using technology and smart money management resources can also make it easier to track and share expenses with your roommates.

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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Many people want to get better about budgeting but don’t know where to begin. Some people will like using apps, others the envelope method, but others may find that a basic online spreadsheet is the best way to keep track of the money coming in and going out.

Here, you’ll learn how to easily do that last option using Microsoft’s Excel spreadsheet program. It has some impressive features that can make it user-friendly and efficient as you budget. It can help you manage your money and hit those financial goals.

Step 1: Opening a Workbook and Creating the First Month

To begin creating a budget, the user will open a fresh Workbook in Excel by hitting File > New > Blank Workbook. Before diving into building the perfect budget, they need to save this file somewhere safe. After completing the first draft, it may be worth it to back it up on a USB drive or on a cloud-based platform. After saving the file, they’ll move on to building out the budget.

One way to keep track of this monthly budget, and review past months’ spending and saving progress is to create a tab for each month of the year. For extra convenience, the budgeter could consider beginning by creating a “template” tab to build the initial budget in and then copy it over each month and edit it as needed.

💡 Quick Tip: If you’re saving for a short-term goal — whether it’s a vacation, a wedding, or the down payment on a house — consider opening a high-yield savings account. The higher APY that you’ll earn will help your money grow faster, but the funds stay liquid, so they are easy to access when you reach your goal.

Step 2: Adding Income

Before creating a spending budget, the user will start by looking at expected income for the month. Doing so makes it easier to formulate a budget that is realistic, making them more likely to stick to it. To begin building the proper formulas to help calculate income, the user will take the following steps:

Select cells A3-A11 (if more space is necessary later on, expand this selection past A11) and hit “Merge and Center.” Then write the word “income” and center it.

Merge the cells B3 and C3. Label these cells as “Source” which will show where the income is coming from. Some may have consistent income sources such as “Paycheck 1” and “Paycheck 2.” Others may have more sources they need to track “Side Hustle Income” or “Unexpected Income.” After choosing income sources and properly labeling them, merge every row from B and C through row 11 or whatever the chosen stopping point is.

While not necessary, one can label cell D3 “Date” which is where the budgeter can track which day they received a type of income. If they have predictable sources of income, this option may not be worthwhile, but for those with flexible incomes (say, seasonal workers who earn an hourly rate or entrepreneurs), it can help them stick to a budget and follow up on missing payments.

For the final step of the income section of the budget, which is more of a benefit to those with varying monthly income, label section E3 as “Planned” to identify what the originally planned income is. Then label F3 as “Earned” to identify how much money was in fact earned from each labeled source of income. For G3, label it “Difference.” This cell will automatically calculate the difference between the expected income and the income actually earned after adding the proper formula.

To create the formula needed to automatically track the difference between expected and earned income, add the formula “=SUM(F4-E4)” after every row it should apply to. Then replace the F4 and E4 with the cells that correspond to the “Earned” and “Planned” income sections.

💡 Quick Tip: When you overdraft your checking account, you’ll likely pay a non-sufficient fund fee of, say, $35. Look into linking a savings account to your checking account as a backup to avoid that, or shop around for a bank that doesn’t charge you for overdrafting.

Step 3: Adding Expenses

After wrapping up the income section of this project, the budgeter can start planning what their typical monthly expenses may look like. (Make sure to add those commonly forgotten expenses, too.) They can do this on the same tab that they calculated their income in or they can create a separate tab. How they organize their budget is totally their call!

They’ll use the same format for building out expenses as they did with their income (although if they choose to continue working in their original sheet, they’ll need to adjust the row letter and column number accordingly) and will name this section of the budget “Expenses.” Using the same labels from the income section is fine, as is creating new ones.

They’ll only have to make one major change to this process, which is to use a different formula for the “Difference” column. In order to best calculate expenses, they can use the following formula: “=SUM(Planned Number-Actual Number)” which will calculate how much they overspent.

When creating spending sources, instead of income sources, they can make as many or as few as they’d like. For example, someone may want to make one row that represents all utilities or they may want to designate a row for every single utility they pay. Another budgeter may want to budget for overarching categories such as living, automobile, entertainment, food, travel, and savings. It really depends how detailed someone wants to get about their budgeting.

For those drawn to a more detailed budget, they can create multiple sections for their expenses, they don’t have to be all lumped together. It’s fine to repeat this process again and again to create more detailed categories such as basic living expenses or business expenses.

Recommended: 15 Causes of Overspending

Step 4: Adding Some Goals

For those who want to expand their budgets past basic incomes and expenses, they can repeat the process used to create the income section of the budget and make some more specific savings goals.

One way would be to create a category that tracks how much they hope to save that month in general, another would be to break it down by savings category. Similar to expense sources, it’s possible to break goals down into separate sections, such as one that provides a more detailed look at saving for retirement or tracks a big expense they’re saving for, such as a down payment on a home or a wedding.

Using the same basic formulas for tracking expected income and how much income is actually earned in a month, the user can track what they hope to save and how much they actually do end up saving.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

Step 5: Customizing a Premade Template

If someone’s not interested in learning how to create a budget in Excel from scratch, they can use a premade budgeting template provided by Excel or one of the many free or for-purchase options that are available online.

Even when using a premade template, it can be helpful to review the tips for creating an Excel budget from scratch shared above, as they may allow the budgeter to customize the template to their needs.

At the end of the day, creating a template from scratch will allow the user to truly customize it to their needs, especially if they follow a particular budgeting method. That being said, a template can save a lot of time, especially for those who aren’t comfortable using Excel.

Step 6: How to Track Spending and Stick to a Budget

For those who have been hard at work creating their Excel budgets, it’s time to take advantage of that budget. It seems unlikely that anyone wants their Excel efforts going to waste, so one might want to make a budgeting check-in plan that they can easily stick with.

At the end or beginning of every month, it is a good idea to sit down and review if one went over or under last month’s budget, as well as take some time to build out the new month’s budget. That may involve simply copying over the template created earlier or the user might need to make a few tweaks based on how much they earned and spent last month.

As tempting as it can be to set it and forget it, the budgeter should try to check in on their budget more than once a month. Setting a quick weekly check-in date with their budget will allow them to update how much they’ve earned and spent so far during the month. That way, they’ll know if they need to scale back on spending in a certain category or if they can relax in another category.

While it takes a decent amount of self discipline and motivation to stick to a budget, awareness can be the first step in staying on track. By checking in with their budget frequently, savvy planners will remember their short-term goals and longer-term ones and hopefully will be a little extra motivated to meet them.

The Takeaway

There are many effective budgeting tools, and using an Excel spreadsheet can be one of them. It can allow you to track your income and your spending and saving, while making updates in real time. This can help you manage your finances and contribute to meeting your financial goals.

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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