How to Plan Your Finances When Moving in With Someone


*This post is supported by Genworth Financial. All thoughts are 100% my own.

Moving in with your significant other is an exciting time in your life. While new couples should enjoy this life event, they should also be prepared financially should things not work out the way it was planned.

Sure, we don’t anticipate bad things to come but it does and can happen. I recently came across an article with financial tips to consider before moving in with someone, it read that 38% of 1,000 renters had ended a relationship with someone that they were living with. More than 60% had continued to live with the other person while they figure out how to split things up and find new residency to fit their single person budget.

moving truck

I moved in with a (now ex) boyfriend several years before meeting my husband, we lived together for 4 years and never expected things to end badly. Things didn’t go as expected, but thanks to our preplanning before moving in, we were able to make the transition away from each other without much headache.

Here are some tips to consider when moving in together:

  • Purchase Items Individually – If you purchase items for your new place, jointly, then you will also have to figure out how to split things up if someone moves out. I purchased new furniture when moving in with my (now ex) boyfriend, while he was nice about things and offered to help make payments – I said no thanks. When the time came and we went our own ways, that furniture was mine and we didn’t have to fight over who would get what
  • Split the Utilities in Both Names  – Make sure that you have utility accounts in your name, and some in your significant others name. You want to keep building your credit while living together. If someone was to leave the relationship, this will make sure that you have enough credit in your name to get you into a new place.
  • Put the Lease in Both Names  – The purpose of putting the lease in both names is for protection should there be an unfortunate breakup. This creates an equal opportunity for the place you are renting, then you can make a joint decision to see who could afford to move out on their own.

Life throws unexpected curve balls and sometimes things just don’t go the way that we hoped. By planning in advance for your future, this will ensure that you can move on happily after unexpected life events. Check out for financial advice to help you start off your financial future on the right foot.

*Picture source Flickr


10 thoughts on “How to Plan Your Finances When Moving in With Someone

  • July 12, 2013 at 8:51 pm
    this is great advice, I hope I never have to move in with someone Reply
  • July 12, 2013 at 7:16 pm
    It is a great idea to plan for the worst just in case. You have to be prepared in case something happens and you're not as compatible with the other erson as you thought. Reply
  • July 8, 2013 at 5:46 pm
    Great advice! Things don't always go according to plan and good intentions. Reply
  • July 8, 2013 at 7:27 am
    Thanks for the info. It seems that this is important in any relationship, friendship, dating, marriage to varying degrees, to have things that are both of yours as well as your own, such as bank account. It's all like a pre-nup in a way, to make sure that neither of you lose in the end. And to have a contract, even if written by yourself and other notarized. If a roommate is against having a piece of paper notarized that they will pay half of utilities or that you paid for TV on a joint account then maybe that should give you reason to reconsider. Think..what would the People's Court or Judge Judy say to do! Reply
  • July 7, 2013 at 2:17 pm
    Sound advice. usually see the other end of breaking up when watching Judge Judy. :) young paople in love tend to be to optimistic and do everything jointly instead of individually. love is blind I guess. Reply
  • July 7, 2013 at 1:38 pm
    Great advice. Even though my husband and I are now married for 10 years, I wish I heeded this advice when we first moved in together. It doesn't always last and even if it does, there is no harm in being financially responsible to each other. Reply
  • July 7, 2013 at 12:00 pm
    many people do split up this is great advice that many people don't think about ahead of time thanks Reply
  • July 2, 2013 at 12:24 pm
    Plan for the worst and expect the best, right? :) I think this is all sensible advice. Reply
  • July 1, 2013 at 5:16 pm
    great, great GREAT tips!! my family freaked out when i moved in with my husband before we got engaged. they were not happy- they didn't realize we knew to do much of what is suggested here! Reply
  • July 1, 2013 at 4:29 pm
    I am going to forward this one to my daughter. Thanks for sharing. Reply

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