Comments on: Financial Topics for Living Together

By: Financial benefits of being in a relationship | Well Heeled Blog

Financial benefits of being in a relationship | Well Heeled Blog — Tue, 19 Apr 2011 00:35:24 +0000

[...] through several living arrangements. I’ve lived with a roommate, lived by myself, and now am sharing an apartment with a significant other. Living with CB means that we can split the groceries, DSL, utilities, and rent. I am paying about [...]

By: Joint Car Insurance Policy Between Unmarried Couples

Joint Car Insurance Policy Between Unmarried Couples — Fri, 09 Jul 2010 01:14:39 +0000

[...] and I discussed the possibility of us combining our car insurance policies once we move in together. As it does with many unmarried couples, it took us some time and research (and discussions) to [...]

By: WellHeeled

WellHeeled — Fri, 09 Jul 2010 00:52:57 +0000

I think the decor issue is a good one – I've decided that since we don't see us being in the apartment for longer than 2-3 years, there is no point in going all crazy with decor. I also know that "nice furnishings" have different meaning and represent different priorities between us two (as I imagine for many couples!), so it's kind of a relief not having to worry about that at least for the time being.

By: Jjj

Jjj — Thu, 08 Jul 2010 11:38:21 +0000

Hi – Two issues that came up with my live-in bf: While we split costs 50/50, he was in charge of going online to pay utilities and I was in charge of mailling out the rent check. He would be late paying the utility bills and incur a late charge. It was frustrating to me as a pf blog reader to have any late fees, but I brought up the issue and we agreed that he would have to pay the late fee instead of splitting that 50/50 since it was his task to pay it. My bf is not very responsible financially but my day to day habits have rubbed off on him.

Secondly, I really like furniture porn, CB2 catalogues, and home decor. I got this insane urge to "nest" and make our first apartment "really ours". Unfortunately this meant I bought all this stuff (framed art, paint, throw pillows, etc.) for the apartment and boyfriend didn't care, want the items, or want to pay for them.

Also – figure out who will keep the tv, couch, etc. if for -some- reason you two break up.

By: WellHeeled

WellHeeled — Thu, 08 Jul 2010 04:17:10 +0000

Nope. In California, only same-sex couples and heterosexual couples over the age of 62 can enter into legal domestic partnerships. So that's not an option for us even if we wanted to pursue it. We both have employer-sponsored health insurance, so I am grateful that that is one thing we don't have to worry too much about.

By: Jill

Jill — Tue, 06 Jul 2010 18:13:17 +0000

My now fiance and I moved in after only dating for 3 months and we have now been together for 2.5 years without arguing even once over the splitting of expenses. Our method is simple… I pay him a very small portion of the rent ($450 out of the $1600 total), he pays for all the utility bills. I do all the grocery shopping ($500/month… we live in Canada), and then he reimburses me $100/mo for groceries. Household chores are my primary responsibility, but we do have a housekeeper. Sounds complicated, but it actually works out perfectly. When we get married in September we plan to have a joint account that all expenses come out of and then we each get a spending allowance for the month. Any purchases over $100 get discussed.

By: MoneyMaus

MoneyMaus — Mon, 05 Jul 2010 23:41:41 +0000

Good luck! I've never lived with a boyfriend before and don't forsee it happening anytime soon since I'm still single… but this is a very interesting topic. There are lots of great comments and I think your idea on how to split rent is great.

By: Seven Things I Think I Think (and Personal Finance Links)

Seven Things I Think I Think (and Personal Finance Links) — Mon, 05 Jul 2010 20:54:25 +0000

[...] Well-Heeled Blog goes over a few financial topics for living together. [...]

By: First Yakezie Milestone Carnival | My Journey to Millions

First Yakezie Milestone Carnival | My Journey to Millions — Sun, 04 Jul 2010 16:10:09 +0000

[...] Financial Topics for Living Together [...]

By: BudgetBabe

BudgetBabe — Fri, 02 Jul 2010 20:48:49 +0000

Nice! I agree – it's a little bit of an issue for me to let someone else pick my produce… I've had 1 bad experience in 15 months, and they were more than accomodating when I brought up my concerns. Any method works when you're getting good quality produce from local farmers – I think it's a win-win for everyone!

By: WellHeeled

WellHeeled — Fri, 02 Jul 2010 04:46:14 +0000

Thanks! btw, I actually looked up a few CSAs, but I think I'm going to stick to farmer's markets for now… I like to see my fruits and veggies before I buy.

By: WellHeeled

WellHeeled — Fri, 02 Jul 2010 04:45:26 +0000

I won't consider combining finances except for in case of marriage, and even then I agree with your mom – it's much better to have your own money so you don't feel like you're asking for permission every time you want something.

By: Benjamin Bankruptcy

Benjamin Bankruptcy — Fri, 02 Jul 2010 04:09:45 +0000

The best advice I got was (once you decide he's the one) put one of your salaries into an investment acount shares or put it straight on the mortgage and learn to live on the other salary. At some point you'll probably only have one income. So this way you'll get used to it now, plus you'll be saving more or paying more off the mortgage so you'll get a head start

By: Bexi

Bexi — Fri, 02 Jul 2010 04:06:17 +0000

I think the best money-related tip for me was "if you're going to combine your finances, make sure you have some money of your own for your own spending". For the last 20 years I've watched my mother have to ask my father for money for or justify to him to him the money that she's spent for things that she wants (or just go without). In the last 5 or so years she's wised up and now has her own account for her own money for her own needs and wants, and is much happier, and doesn't have to do without.

By: BudgetBabe

BudgetBabe — Thu, 01 Jul 2010 16:33:27 +0000

Moving in with your partner is exciting, fun, a huge change, and a little nervewracking. When I first moved in with my boyfriend (now husband) 6 years ago, we split things 50/50. We wrote checks to each other after one of us paid rent/bills/groceries, and it was really, really annoying. We decided to create a joint account just for bills – we looked at all of our expenses and created a budget. We worked it out that each of us put a certain percentage of our income in the account because he made substantially more than I did, and splitting things 50/50 pretty much wiped me out at the end of the month.

Happy moving in!

By: Mel

Mel — Thu, 01 Jul 2010 07:17:14 +0000

Renters Insurance? Also dependin on the state you are in you may have to add him or exclude him from your policy for legal purposes. In California at least they come after the insured first and they will end at the registered owner

By: Kim

Kim — Thu, 01 Jul 2010 05:17:42 +0000

I was having a rough day, and that hug as soon as I put my stuff down made a big difference!

By: WellHeeled

WellHeeled — Thu, 01 Jul 2010 03:02:18 +0000

I think your last sentence is the perfect advice.