Whether you are moving in with a romantic partner or just with a roommate in order to try and save some money, a combined household equals combined finances. There are number of things that you should take into consideration before you make this big move.
Before you move in with anyone, it is important that you set up a joint budget to decide on who pays what. This should include everything you can think of, including food, home, health, insurance for cars, and utilities. If you are moving in with a romantic partner and intend to have children together in the future then the expenses that come with raising a family should also be included. It is simply not possible to be too detailed or prepared when it comes to a budget.
Budgeting is not just about money. The crucial step is to set some goals before your joint relocation. This does not just include financial goals but also activity and life goals. Couples might want to talk about what they would like to do when they retire, specific purchases they would like to make, or time-based goals such as going on vacation to Europe.
It is also important to work out whose name will go on each household bill. Will you put both of your names on your mortgage or lease? Should one person take responsibility for one thing, such as water, while the other handles the heating bill? It is important to reach a compromise so that neither party feels as if they are carrying more of the load than the other.