If you start living together, a lot will come your way. Above all nice things of course, but there are also some practical things that you have to arrange properly, such as finances. It is no secret than many relationships fail because of money worries. Problems about money causes unnecessary arguments and unpleasant situations. The stress that comes with this causes the relationship to come under pressure. Yet this is not necessary.
By making a good overview together you can manage the finances in a simple and good way. That way you both know where you stand and you know for sure that financial obligations can be met. To make a good start, it is wise to clarify your joint income and expenses. You can easily do this on the basis of a list in which you work out the fixed costs and other expenses.
By comparing your income with this you know exactly what your financial position is. A nice side effect of this is that you immediately see what you could possibly cut back on. If you start living together, double subscriptions occur more than once. Delete the costs or services that you do not use or need per se. This way you start with a clean slate and keep your finances organized when you start living together.
Pay fixed costs through a joint account
If you start living together, in most cases this means that you are both responsible for the fixed costs. These can consist of the rent or mortgage, the energy supplier, household money and healthcare premiums. Make a fair distribution who pays what amount. The best way to do this is based on the income per partner. If one partner earns considerably more, you could think of a distribution of 40/60. Is your income fairly equal? Then keep the distribution at 50/50.
Every partner pays his or her own financial contribution into the joint account each month. This way the rent and other costs can always be debited. You can also apply for a loan for the joint account. If you can see a red card on the joint account, you will not immediately have a problem if the money is not transferred on time. The fixed costs can then simply be debited by the relevant authorities. However, avoid this at all times. Standing in red also costs money. Ensure that the joint fixed costs account is replenished monthly.
Keep your own bank account if you are going to live together
Living together naturally does not mean that you have to share everything. It is therefore wise to keep your own bank account. This is especially easy for collecting your wages or other matters. Of course you also want to be able to continue to provide for yourself. From your own account you can, for example, make a private purchase or pay for a dinner during a night out. Because you already deposit a fixed amount into your joint account each month, you have a good overview of what you can still spend. So you do not have to worry that you end up with a shortage of money at the end of the month, which was actually meant for the recurring costs.
Save together? A financial buffer if you start living together
It is always nice to have a small financial buffer. Saving is also very important even if you start living together. You can also open a joint savings account for this. If you deposit a small amount into this account every month, it will soon be fun without your noticing it. Savings money can of course be used for unforeseen expenses. Because of this you will not immediately get into trouble if, for example, the washing machine breaks down. But you can also use savings for a purpose that you have together. Think of a new car or a luxury vacation. In this way you remain motivated to save and you have a great prospect together.
Keep your money matters negotiable
Even if you start living together, there is nothing as important as good communication. This also applies to financial matters. After all, you bear this responsibility together. By keeping money matters negotiable and transparent, you prevent the risk of annoying arguments and misunderstandings about money. Do you want to do a publication that concerns you both? Then discuss that with each other. This way you not only keep your financial situation healthy, but above all your relationship.