After officially dating for a number of years, or months, or days, you finally decided to move in with your partner. It can be, perhaps, to prove to yourself that you are ready enough to go somewhere in between or just plain bored living alone on your own and thought, it would be nice to be living with someone who will look after you. Now that you’ve decided to move into his or her place to start your lives together under one roof, you might want to consider the financial aspects of it.
Some of us may say it would be more practical to test the waters first before jumping into the real thing. Add to that the fact that divorce is expensive nowadays and can get really messy. You move in, you live together, you continue to earn a living and you enjoy; yeah, It sounds as simple as that. But how sure are you that the stability in our relationship is guaranteed? It would be best if you can prepare yourself in terms of financial arrangements.
Financial arguments must be the most common reason for couples to start quarrelling. Why not arrange everything financially so that it can be clearly understood before reaching the point of being misunderstood? Here are a few pointers for unmarried couples when it comes to financial arrangements:
Living in one roof with no signed papers, more or less, means you are not tied and don’t have obligations to your partner in any way especially when it comes to financial aspects of the partnership.
Never assume your partner’s income as yours. You can act as husband and wife in terms of treating each other but when it comes to your bills, treat each other as roommates – as two separate beings. Room mates do share responsibilities in paying the electric, water, telephone/internet or even apartment rental. It would be better to rent a place than to own and have shares in paying the mortgage. This way, one does not need to raise an eyebrow when the other partner spends too much electricity in watching television or charging gadgets. No body would feel guilty if a friend or relative comes over for a sleepover. This deal might sound ironic for common law partners, but I assure you it would maintain harmony in your relationship in the long run – may even save it.
Have your own credit card. Risk your own credit standing when you feel like shopping. That exactly follows that you have to pay it with your own earnings as well. No one gets blamed if you overspend. Your partner would not stop you if you spend too much satisfying your wants.
It would also be very important to have each other understand that your assets and possessions are only yours and yours alone. Whatever you earn or invest does not need to be consulted with your partner. This is one way of being independent as a legally single individual. Don’t let your partner affect your decision in this matters since you are not yet bind in any way.
In the end, it all boils down to one thing, you still tick SINGLE when filling up legal forms. Financial decisions have to be treated as SINGLE as well. Don’t deprive yourself of being happy, just remember to protect your financial status at all times. Some of the things mentioned here can be harsh but if you come to think of it, who wants to be the one at the disadvantaged end of the stick when your partner find himself in a financial rut? Happy living!
