Moving in together and savings
April 15, 2014 9:31 PM Subscribe
My partner makes money and has savings. I am a grad student, have no savings, but will make money. How to handle potential cohabitation?
posted by inevitability to Work & Money (20 answers total) 2 users marked this as a favorite
My partner has been working full-time for the past 8 years, making from 70k to 100k. He has no debts. I transitioned from undergrad directly to a PhD program, and never "made" more than 20k a year (no debts, small IRA). I will be graduating this fall and we're talking about moving in together.
I would like to, but if we do, I'm not sure how to handle this financially. I will make ~60k in my new job this fall but I have no real savings yet. If we move into a place together, it would cost around 2k/month.
I am mulling over:
1. I could stay home (low rent) while working for year, and save up some before we move in together.
2. We move in together but I'm not sure how to split expenses. We currently don't have a great method. We "take turns" paying, though he pays the more expensive dates.
We have talked marriage and it's been positive.
Any advice? Is there anything I'm missing/not thinking of? Thanks all!