# May's Big Money Questions: Emergency Savings, Bonuses and More
NerdWallet's finance experts tackle three practical questions households face this month. The guidance covers how to handle shared expenses with roommates or partners, strategies for building emergency funds, and smart ways to use work bonuses.
**Splitting expenses fairly** matters more than splitting them equally. The experts recommend calculating each person's percentage of household income, then applying that same percentage to shared bills. If one partner earns 60 percent of household income, they pay 60 percent of rent and utilities. This approach prevents resentment and reflects actual ability to pay. For roommates without income disparity, a straight 50-50 split works, but couples with different earnings should use the income-percentage method.
**Emergency savings require a specific target.** Most people should aim for three to six months of essential expenses in a liquid savings account. Calculate rent, utilities, food, insurance, and minimum debt payments. Multiply that monthly total by six. This amount sits in a high-yield savings account earning 4 percent to 5 percent annual percentage yield, not in investments. Workers without job security or those with variable income should target the higher end. Once the emergency fund reaches full capacity, redirect that monthly contribution to retirement accounts or other goals.
**Work bonuses should follow the 50-30-20 rule.** Allocate 50 percent toward financial gaps (building that emergency fund, paying down high-interest debt). Spend 30 percent on wants (vacation, new electronics, hobbies). Save 20 percent for long-term goals (retirement accounts, down payments, education). A $5,000 bonus splits into $2,500 for debt reduction or emergency savings, $1,500 for discretionary spending, and $1,000 for retirement or investment accounts.
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