If unmarried how do you split finances?

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Hello all,

I'm moving in with my boyfriend in a few months and wanted to find out how do you split the finances if you're not married?

My boyfriend and I both own our homes. I'm moving to his house and will be renting my flat to a family member for a year. If all goes well the plan is I'll sell my flat and put away the money until we're married and looking to buy somewhere together (or I can use it to buy another flat if things go tits up).

My boyfriend and I earn similar amounts, him slightly more than me. I had assumed we would keep separate finances and I would just transfer what I owe him for the bills each month. But last night my boyfriend brought up the subject and suggested we open a joint account for the wages to be paid into that all the bills will be paid out of and then whatever is left we split down the middle for spending money or if we have individual savings etc.

I think it sounds fair but just wanted to get some opinions on it. Is there anything I need to consider?

We got a joint account t and put equal amounts In to cover the bills and mortgage. We used one of my credit cards as a joint card and gave him A card to spend on food and outings and cleared that equally every month.

Been married nearly 20 years and only in the last month opened a joint bank account.

Hell would freeze over before I did what your partner is suggesting.

Why not both sell your houses & buy together so you're moving into a joint house rather than his house? I would not advise on having a joint account with your wages paid into with someone you've not lived with. I wouldn't advise this even if you are married, it's too risky. Other suggestions of keeping your own account & possibly having a joint account for household bills which you transfer money into is more sensible. Lots of people on here have had their fingers burned financially so are advising you to be careful, I totally agree!

I would think about how you would want to be if you are married. If you want to be the joint bank account kind of couple when married then try it out now. It’s a lot easier to get what you want before you move in that to try and change things later.
My parents and sibling are joint bank account couples. I’m not atm.
If it’s a trial before marriage living together then think about how you will want things to be 5 years down the line when you’ve got at least one child. So if you don’t want to ever clean the oven don’t do it when first living together. If you have a timeline for marriage make that really clear before you move in
If It doesn’t work out living together it will be cheaper to have contributed a bit to his mortgage in rent than it would have been to get married and divorced.

Why not both sell your houses & buy together so you're moving into a joint house rather than his house?. Clearly stated this is temporary trail run on the relationship. Very sensible idea.

Assuming your contribution is less than your current mortgage and you still have bills in your name for credit reference then, a joint account you both pay into, for bills and some savings, like holidays etc is a good idea.

LOL at the 'joint vs not joint kind of couple'.
You can have both.
Wages should never ever go into a joint (even if I marry no way in hell).
Each get their own wage and then contribute to it