Before Moving In Together, Have a Money Talk

Considering living with your significant other? Make sure you’re both on the same page financially before signing on the dotted line.

Whether you're making the move to cut down on high living costs or to take the next step down the path of a long-term commitment, you should have a serious discussion about your finances before sharing a residence with your significant other. A frank conversation about both of your financial situations and how you will divvy up monthly expenses and share major purchases can help alleviate hesitation a couple may have about merging their lives physically and financially -- or bring to light some red flags, such as bad credit, suggests Marshall Miller, co-author of Unmarried to Each Other: The Essential Guide to Living Together as an Unmarried Couple.

Here are several expert tips on how to address these key issues with your boyfriend or girlfriend before moving forward.

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Andrea Browne Taylor
Contributing Editor

Browne Taylor joined Kiplinger in 2011 and was a channel editor for covering living and family finance topics. She previously worked at the Washington Post as a Web producer in the Style section and prior to that covered the Jobs, Cars and Real Estate sections. She earned a BA in journalism from Howard University in Washington, D.C. She is Director of Member Services, at the National Association of Home Builders.