Moving in with your partner? Money conversations to have now
You’ve found someone you love, and they replace the toilet paper roll without being asked. Congratulations, you’re moving in together.
It’s an exciting step, and it’s also one of the biggest financial changes you’ll make as a couple. While splitting the rent may feel straightforward, everything else (from joint bills to future goals) can quickly get messy if you’re not on the same page. One person’s idea of “treating themselves” might be another’s regular Tuesday spending.
Before you start arguing over who left the light on again, here are the money conversations to have now, before any confusion or resentment builds.
Why talking about money before moving in matters
Money remains one of the leading causes of stress in relationships. Often, it’s less about the numbers and more about expectations, habits and values.
When you and your partner talk openly about finances early on, you:
- Avoid future resentment and mental load
- Learn each other’s money styles
- Build trust and teamwork, even if your incomes differ
Think of it like relationship hygiene. It might feel awkward at first, but it keeps things healthier in the long run.
How will we split expenses?
There’s no single right answer, but having clarity is key. Will you:
- Split everything 50/50?
- Contribute according to your income?
- Take responsibility for different categories (for example, one person handles rent, the other covers bills)?
Tip: Create a shared spreadsheet to track expenses and avoid confusion or mental accounting.
Are we combining any accounts?
Some couples open a joint account for shared bills or food shops, while keeping separate personal accounts. Others prefer full financial independence or complete combination.
No matter what you choose, be clear about:
- How much each of you will contribute
- What the joint account will and won’t be used for
- How often you’ll review or adjust contributions
What are our money habits, and how do they differ?
This conversation can prevent conflict down the track.
Are you a planner while your partner prefers to wing it? Are you strict about budgeting and they’re more relaxed? Understanding each other’s natural approach to money is key.
Conversation starters:
- What did your family teach you about money growing up?
- How do you feel about debt or credit cards?
- What’s a financial habit you’re proud of, and one you’re working on?
Reminder: This isn’t about agreeing on everything, it’s about being aware of your different perspectives.
What are we working toward?
Now that you’re living together, it’s worth defining what you’re saving and planning for as a couple.
Potential shared goals might include:
- Building an emergency fund
- Saving for a holiday or wedding
- Putting aside money for a home deposit
- Investing for the future
Even if your timelines don’t align perfectly, talking about goals helps you stay accountable and gives your money a shared purpose.
Tip: Try setting one short-term goal, one medium-term goal and one longer-term ambition to work on together.
What are the legal and tax implications?
Once you’ve lived together for a certain amount of time, you may legally be considered de facto partners. This means your finances may be assessed jointly by government services and tax authorities.
Things that may be affected include:
- Tax returns: You may need to report your partner’s income on your tax return, which can impact offsets, rebates or the Medicare levy surcharge.
- Centrelink payments: Eligibility for government benefits (such as Family Tax Benefit or JobSeeker) may change based on your combined income and assets.
- Superannuation: You may be able to nominate each other as dependants for death benefit payments or consider super splitting.
- Estate planning: If one of you passes away or becomes seriously ill, your de facto status can affect inheritance, claims or next-of-kin rights.
Tip: It’s a good idea to check the Australian Taxation Office (ATO) and Services Australia websites for the most up-to-date information, or speak with a qualified adviser if you’re unsure.
How will we handle the unexpected?
Life happens, whether it’s a job loss, an unexpected bill or a difference of opinion about money. What matters is that you have a plan for those moments.
Talk about:
- How you’d manage financially if one of you had a sudden drop in income
- Whether large purchases need joint discussion or approval
- How often you’ll sit down to check in on shared finances
You don’t have to get everything perfect now, but having a structure for how you’ll handle uncertainty together is a strong foundation.
Moving in together is more than sharing a space. It’s a step toward sharing a future, and money is part of that picture.
Starting these conversations now will help you:
- Align on goals
- Avoid future misunderstandings
- Reduce financial stress
- Build trust and teamwork
Money doesn’t have to be a source of tension. With a bit of planning, it can become one of the ways you grow stronger together.
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This blog has been issued by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) and has been prepared without taking into account your objectives, financial situation or needs. Before acting on such information, you should conduct your own review or consult a financial advisor before making a decision to invest. Please read the relevant Product Disclosure Statement and any associated reference documents before making an investment decision. In accordance with the Design and Distributions Obligations, we maintain Target Market Determinations for our Funds. All documents can be found on the Raiz website www.raizinvest.com.au, or calling the Customer Support team on 1300 754 748.
