Deciding to move in together is a significant step that should be approached with both emotional investment and rationality.
Living together involves practical issues that should not be overlooked, in addition to the emotional aspects of the relationship. Financial matters, in particular, are a major source of tension in relationships, with over 26% of couples arguing about money on a weekly basis.
Hodge has developed a “financial compatibility test” to help couples prepare for cohabitation. Here are ten questions designed to spark enlightening discussions and establish the foundation for financial transparency.
Remember, from conversations about financial accessibility to disagreements on household chores and social life, open communication is always the key to a smooth moving in experience.
10 Questions to Ask Before Moving in Together
1. What are your long-term financial goals?
2. How do you currently manage your budget and expenses?
3. Do you have any debts or financial obligations?
4. What is your perspective on joint bank accounts?
5. How do you envision splitting household expenses?
6. What is your attitude towards saving?
7. Have you had financial problems in the past?
8. How would you handle unexpected expenses or emergencies?
9. What do you think about maintaining financial independence within the relationship?
10. Are there any financial deal-breakers or non-negotiables for you?
Christie Cook, CEO of Retail at Hodge, said: “When couples embark on the exciting journey of cohabitation, it’s important to recognize the financial commitment it involves. We encourage you to use the ‘Financial Compatibility Test’ to take responsibility for your finances together with your partner before moving in together. Having this conversation can help couples engage in meaningful discussions about money and lay the groundwork for a strong partnership—both financially and in life.”
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This article first appeared on Grazia.it
