Question

My boyfriend and I are buying a house together. We will have a joint checking that we will pay all the bills out of (including joint entertainment and groceries) and a savings account for sinking funds (can you tell I'm in charge of the money? ) My question, should I start a second TBM workbook for our joint expenses (I have the print out version)? Or should I include it in my workbook? Also, any other tips/tricks for moving in together? Sinking funds you wish you had started? Thanks!  

Answer 1

I would do a separate one for household. That way you can both see what’s coming and going. Start an emergency fund just for moving (something breaks, you need more bubble wrap, pizza and beer to pay friends for helping) and start saving for maintenance and appliance replacement/repair.  

Answer 2

Don’t do it. I’m talking from experience. IF YOU insist. have a LEGAL document stating who put what down payment and how you will divide when selling the property. If you eventually get married then it will all go away but this will be the biggest financial mistake if you break up. Again, I’m speaking from experience. Please listen!