- You will be sharing the costs of all the utilities in the home, so this will mean more money in your pocket each month. However, the two of you need to discuss how these expenses are going to get paid and who is taking care of them.
- You will discover very quickly that your spending habits aren't exactly similar even though the two of you tend to live similarly. For example, you might want to have a DVR in every room in your house whereas your partner thinks one for the whole house is sufficient. Or, he might want the heat or AC to be on all day, even when no one is home, whereas you always were in the habit to turning it off when you leave for work. This is okay as long as you discuss this and determine how the two of you are going to deal with the small differences that you discover.
- You will need to decide who is going to be the one who pays the bills, as in, who is going to write the checks, push send on the online banking site, etc. It is usually better for just one of you to take care of this task, so that nothing falls through the cracks.
- It is always a good idea to put together a budget. It doesn't have to be fancy or super detailed, but, by doing this, at least the two of you can see what's what, what you have, what you want to put away to save for the future and what kind of lifestyle is the right lifestyle for the two of you to be living without ending up in debt.
- Regardless of how you are going to divy up the expenses, it is always a good idea to get a joint bank account that is ear-marked for household expenses. In this way, you don't have to have a discussion, every time you need more toilet paper, need to pay the housekeeper or need to do a grocery run. Make sure that you set parameters on how you use the joint account so there are no surprises.
What other changes did you notice in your finances when you moved in with your love?