Talking about Money with your Boyfriend

Talking about money with anyone can be difficult but it can be particularly intimidating to talk about with your boyfriend. It’s a really exciting time when you and your boyfriend decide to move in together and so you want to start things off right. They say that money is the number one reason for divorce so why not get in front of it.

Before moving in together I recommend talking about your budget and how you plan to pay for everything. During this conversation you’ll talk about how much you are each comfortable spending for monthly expenses. Before my boyfriend and I moved in together we had some serious conversations about who would be paying for what and how to split bills. Just because you’re moving in together you don’t have to wildly increase your rent. I recommend staying within your comfort limits for living expenses.  

Pro Tip: I’ve learned is to add groceries into the monthly bills.  When you live with your boyfriend you’ll end up making meals and eating together nightly. It isn’t like each of you will have a food cabinet that belongs to you.

Talking about money with your boyfriend

There are a few ways that we discussed before we figured out what was the best route for us: 

Spliting everything down the middle – Splitting rent, all the bills and groceries down the middle. Living together includes a lot of expenses, an easy way share the burden is to split everything down the middle. Each person would send in their rent check and on person would put the bills in their name to be split.

Your turn, my turn – For some couples it makes sense to take turns paying. For example, I would pay the groceries one week and my boyfriend would pay the next week. This sounds like ‘credit card roulette’ to me and I wouldn’t want risk splitting the bills.

Start a shared checking account for bills – There are a two different ways this can work, either you both contribute an equal amount or each person contribute what they can. If you make way more then your boyfriend maybe you offer to contribute $1,000 a paycheck and he contributes $875. From that pool of money all the bills are paid. However the math works for you and your boyfriend, having a joint shared account is an easy way to pay bills. All the money goes into one spot so you don’t have to keep track of what you owe each other.

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Cheers Robyn
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  • Planning finances is always a tough conversation to have, so these are such good tips! I also like to split everything down the middle because it makes it a whole lot easier 🙂 xx

    • Yes, the splitting everything down the middle is great way to divide fiances and to keep it even. 🙂

  • Great topic. I wish Steve and I had discussed this before moving in together, so it’d be out of the way!