budget for couples living together

Living as a couple: how to coordinate with expenses

Managing the domestic economy is the origin of many headaches that multiply when we live as a couple. After all, the decision to live together is full of emotional challenges, but also logistical and financial. Issues such as paying the rent, the mortgage, the usual expenses or the taxes together is something that we must negotiate at the beginning of the coexistence to avoid problems in the future.

This challenge is twofold when one of the parties decides to face the purchase of a home alone: on the one hand, they must pay the mortgage alone and, on the other, reach an agreement to share the expenses of daily living.

What options are there in this situation? Is it legal (and legal) to collect rent from your partner? Could the person who is being charged rent, if the relationship ends, claim any rights to the property with Sky Marketing?

Below we address this and other issues, and we give you some tips that will help you better manage your expenses when living as a couple.

Sharing expenses when living with a partner: some questions 

One of the biggest reasons for breaking up in couples is financial disagreements. For this reason, negotiating some basic issues in this regard is one of the most important steps we must take when we decide to move in with our partner.

The fundamental thing is to make it clear how you will assume the daily expenses of the home (electricity, internet, water, gas, shopping, etc.) evaluating the situation and economic capacity of each member of the couple. And the first decision will be to choose between paying everything in half or distributing expenses in another way, although always equitably.

A good option, if you are not married, is to decide what each of you buys (furniture, appliances, etc.) so that, if something goes wrong in the future, it is clear who belongs to whom. Otherwise, it may be convenient to open a joint account in which you can enter a part of your salary.

Both of you will have to be holders, so that both of you can make transfers, income or request vouchers, but at the same time you have certain operations denied (such as canceling the account or withdrawing all the money) without the authorization of the other.

It is also convenient that the monthly amount derived from this account is the same for both members of the couple, although, as we will see later, this is not always possible.

Another issue when dividing the expenses when living as a couple is the payment of rent or mortgage. If they are sets, no problem. However, many times, at the beginning of the coexistence, one of the members of the couple settles in a house that is owned by the other or in the apartment that the other party already has rented.

If this is your situation, you should know that one option to avoid problems with expenses when living as a couple is to collect rent. Regarding possible demands in the future, if a lease is agreed, there is no option to claim any rights to the property, as is the case with a conventional rental.

In this regard, it is best to leave everything in writing, through a private agreement or one signed before a notary. And, although a document of these characteristics should not detract from the romanticism of your new life together, think that it is essential that both of you feel comfortable signing it.

Basic lessons to share the expenses of living as a couple 

The organization of bills and expenses when living as a couple is very important, and involves making many decisions. Below we try to explain what mistakes you should avoid and how to improve the management of your finances as a couple.

Mistakes to avoid

  • One party assumes all expenses. Throughout a relationship, the members of a couple go through many situations, both personal, professional or financial, and sometimes one of the parties must bear the bulk of the common expenses. This, although it is a necessity, can also be a source of tension, conflict and reproach.

In these cases, the ideal is to assess the situation to see to what extent the expenses are acceptable for each of the parties. In this situation, it is also convenient to have separate accounts, to distribute responsibilities. If we have a common account and the couple’s salaries are very unequal, we can propose contributing an equal percentage to establish a fairer situation.

  • Wasteful vs. Saver . The way the money is spent can be a source of conflict in the couple. The question is: what do we do with the percentage of money that is left over from regular expenses? This is when the wasteful and / or thrifty personalities emerge, which can collide.

In this specific case, one option is to save that “extra” money in case unforeseen events arise. At other times, that money can be used to give you a treat that the two of you can enjoy. Both decisions are correct, but they should never be made unilaterally. Our advice? Maintain a forward-looking attitude on a day-to-day basis and establish common savings goals (a getaway, a new car, etc.) to stick to a budget and control your expenses more without giving up any whim.

  • Do not speak openly about your financial situation. About 5% of people keep financial issues secret, mainly out of fear or to maintain some autonomy. This type of action can reduce the trust of the couple and cause disturbances in the domestic economy.

On the other hand, our income may vary from one moment to another, and it is important that the person we live with is aware of it. How? Regularly reviewing common bills and expenses together. In this way, it will be easier to know how to save, if you are wasting money, if you should make a different distribution of expenses, … In the end, the important thing is to do an efficient management and avoid confusion and misunderstandings.

Tips to better manage the economy as a couple: 

  • Clarify things from the beginning. From how expenses will be assumed to what percentage of money each one will contribute based on their economic capabilities.
  • Be flexible. The expenses of living as a couple cannot always be assumed at 50%. In these cases, and as we have mentioned, it is best to do a study of fixed expenses and try to provide equal percentages.
  • Adapt to the other’s economy. Sometimes, when living as a couple, one party cannot bear some extra expenses such as going out to dinner or going on a trip. Our advice is to try to adapt to the situation of the other so as not to put him in the position that he has to assume our rhythm and spend more than he enters.
  • Joint management. It is not advisable that only one of the parties of the couple take the reins of the household economy. Regardless of the money that each can contribute, it is important that both make the daily decisions together and that they participate in the management of their expenses.

Are you looking for a house to start a life together with your partner? You don’t know whether to buy or rent a flat? Do you want to find a flat that suits your new needs? Contact Tajarat properties. We are your trusted online real estate agency.


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