Moving in Together? 3 Money Talks to Have First

Moving in with your partner is an exciting step, but beyond love and commitment, finances play a major role in making it work. Many couples choose to live together to save money—especially with rising rental costs—but financial compatibility is just as important as emotional compatibility.

Before signing a lease together, having a clear conversation about money can help avoid misunderstandings and resentment down the road. Here are three important financial discussions to have before you move in together.

1. How Will You Split Expenses?

Sharing a home means sharing expenses—but how you divide them matters. Will you split rent and utilities 50/50, or will you divide costs based on income? If one person earns significantly more than the other, a proportional split may feel fairer.

Additionally, think beyond rent. Groceries, streaming services, internet, furniture, and household essentials are all recurring costs. Discussing these details ahead of time can prevent awkward moments later.

Consider These Approaches:

• Open a joint account for shared expenses and contribute equal or proportional amounts.
• Keep finances separate but agree on who pays for what each month.
• Create a simple budget to track shared costs and avoid confusion.

2. What Are Your Individual Financial Habits?

Even if you love each other, you might have very different financial habits. One person may be a saver, while the other enjoys spending on experiences. If your money mindsets don’t align, conflicts can arise.

Before moving in together, be open about:

• Income and savings: Are you both financially stable enough to afford rent and expenses?
• Debt obligations: Student loans, credit card balances, or personal debts can impact your shared financial future.
• Credit scores: If you're planning to lease a place together, landlords may check both credit scores.

Transparency is key. Having an honest conversation about financial habits can help set expectations and minimize surprises.

3. What Will You Do With the Money You Save?

One of the biggest perks of moving in together is saving money—but what will you do with those savings?

Recent studies show that couples who move in together can save anywhere from $500 to $2,000 per month, depending on location and living costs. Instead of letting those savings disappear into everyday spending, consider putting them toward shared financial goals.

Ideas for Your Savings:

• Build an emergency fund to cover at least three months of essential expenses.
• Pay off high-interest debt (credit cards, loans) to improve financial security.
• Save for long-term goals, such as a wedding, a home down payment, or travel.

Having a clear plan for your savings ensures you make the most of your financial advantage.

Final Thoughts: Love and Money Go Hand in Hand

Money is one of the leading causes of stress in relationships, but having these conversations early can make cohabitation smoother and more enjoyable. Discussing finances before moving in together isn’t just about numbers—it’s about respect, transparency, and planning for the future together.

By aligning on shared expenses, understanding each other’s financial habits, and creating a savings strategy, you’ll set your relationship up for success—both emotionally and financially.

Looking for More Financial Tips?

Whether you're moving in together or planning for big financial milestones, having a solid financial plan is essential. Stay informed, budget wisely, and build a financial future that works for both of you.

Further Reading:
This article was inspired by insights from Charles Schwab. For additional details and expert financial guidance, check out the original blog post: Moving in Together Is About Love—and Money.