This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
6 Things You Must Have In Order If You Live With Someone
I love the idea of splitting expenses; it’s like getting a 50% discount on everything I buy, but I also must ensure that I can afford my lifestyle if I were living on my own. It’s crucial you do the same.
I’ve seen so many people trapped in living situations because they don’t have other options. Sometimes the situations turn out to be dangerous, but there is nowhere to go because they are not financially independent. Don’t underestimate the power of financial independence. You have options when you have resources, and you’re not stuck. You can move and go how you please.
Keep your emergency fund fully stocked. It is recommended to have at least 3–12 months of liquid cash stocked away so that you can float a little while in any situation.
Have at minimum at least two income sources. Relying on one source of income is like betting all of your money on a sick horse. At some point, you’re likely to need more than one income source; it’s just life.
Maintain your own reliable transportation. One car households are okay if you live in a walking city with multiple modes of transportation, but you need to have your own means of transportation if you don’t live in one of these cities. Don’t rely on your family, partner, or roommate for transportation.
Ensure your income is enough to support yourself if you live alone. If you weren’t living with someone, would you be able to support yourself? Would you be financially secure if you weren’t splitting the bills, utilities, groceries, subscriptions, and any other expenses you share?
Consistently invest in accounts that are in your name. Even if you are married, always have accounts in your name. It’s not being devious; it’s being prudent. We’re all human, which means humans are apt to make mistakes and poor decisions- especially with money.
Avoid allowing the person you live with to become financially dependent on you unless you are comfortable as the sole provider (not recommended). As I mentioned in the article, 5 Reasons: One Income Households Are The Most Vulnerable, there are significant downsides to relying on one income source in any household – whether this household has one person or multiple people.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.