The Financial Reality of Moving in with a Partner
A staggering 51% of singles are willing to take the plunge and move in with their partner sooner than planned to save money, according to a recent report. This trend is hardly surprising, given the current state of housing costs in America. With nearly half of renters spending more than 30% of their income on housing, it’s no wonder many are seeking ways to ease the financial burden.
The Rule of Thumb
Financial experts agree that housing costs should not exceed 30% of one’s income. However, the reality is that many are forced to spend more, leading to a significant strain on their finances. When someone you care about is willing to help alleviate this pressure, it can be tempting to take the leap.
But Should You?
While moving in with a partner may seem like a convenient solution, it’s essential to consider the motivations behind this decision. According to Jessica Small, a marriage counselor and therapist at Growing Self Counseling & Coaching in Denver, Colorado, relationships thrive when they are built on mutual desire rather than necessity. “Living together should be a choice made because you believe the relationship has the necessary components for a long-term partnership, not just because it’s convenient or financially beneficial,” she emphasizes.
Having the Conversation
Before making the move, it’s crucial to have an open and honest conversation with your partner about what this step means and what living together will entail. This discussion should cover essential topics such as:
- Division of labor and household responsibilities
- Financial expectations and budgeting
- Personal preferences and habits
- Long-term goals and expectations
Avoiding Pitfalls
Jessica Small highlights that inequity in division of labor and personality differences are common issues that arise when couples live together. By addressing these concerns upfront, you can set realistic expectations and avoid potential conflicts. It’s also essential to acknowledge that it’s normal to miss aspects of living without a romantic partner and to communicate these feelings with your partner.
Alignment and Expectations
Ultimately, moving in with a partner should be a decision made with careful consideration and mutual understanding. By asking the right questions and having open conversations, you can ensure that you and your partner are aligned and have appropriate expectations for your future together.
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