My friend Mike and I see each other about twice a year, but we're bonded for life by our cell phone bill. Thanks to a recent T-Mobile promotion, we joined up on a family plan under Mike's name that lowers our bills from $135 every month to $90.
Mike pays the bill in full every month, and I Venmo him my share. It could work great and save me $500 a year. It could also be a disaster.
In the CNBC Make It and Bustle series, "Young Money," we explore how the issues surrounding money and friends are not to be taken lightly. We even created a Roommate Prenup to protect you when you decide to share space with a buddy. Why? Because people tend to go into those kinds of situations thinking everyone else has their best intentions at heart, and they are often proved wrong.