Married or not, moving in together is a big step in any relationship. De facto couples usually see it as an action that moves them towards marriage. For those who aren’t thinking about marriage just yet, it could also be that they want to simply spend more time together. In 2020, at least 35 million couples in the U.S. were cohabiting. Amicable cohabitation requires effort from both people. Read on to identify four habits you need to adapt once you move in together.

Health Insurance

Buying a health insurance plan can give you peace of mind. Should you and your partner select a joint or separate insurance plan? Well, it depends on your healthcare needs. If you and your partner have different medical needs, it is better to stick to different policies. Perhaps one of you leads a more active lifestyle and wants a higher physio limit. The level of couple’s coverage you’ll need will depend on your stage of life and budget.

On the other hand, a joint plan leaves just one bill and one set of policy details to remember. Also, if you are entitled to a government rebate, this increases once you reach the age of 65 and is based on the age of the older person.

A medical plan translates to affordable health care. Some plans cover specialist treatments, such as orthodontists. These provide a wide array of dental treatments aimed at ensuring proper tooth functioning. Also, they help improve their patients’ smiles. It is conceivable that dental orthopedic remedies will benefit 50%-75% of the population. Covering specialists’ costs out of pocket can be inconvenient.

Budgeting

Managing finance can already be a difficult task for individuals. It becomes more difficult when a partner is involved and sometimes leads to fights and disagreements. To avoid this, have frequent conversations with your partner about financial management. Approach these discussions with honesty, love, and willingness to compromise.

Consider opening joint accounts for expenses. Having joint savings and investments may give you access to higher returning assets than you might have gotten individually. Maintaining separate accounts can help protect your partner from creditors and allow them more freedom over what they wish to spend money on. As you plan for the future, set financial goals that will keep you on the same page and give you something to work towards.

Estate Planning for Couples

Communication is crucial to any successful relationship, and this includes discussions about property. Estate planning establishes directives in case of incapacitation or death. Up to 82% of people above the age of 50 have yet to complete their estate planning, according to research done by Merrill Lynch. Planning for an estate is important when you are purchasing property or even getting a mortgage. Below are estate planning considerations for couples:

• • Children from or outside the relationship

• • Marital status

• • Jurisdiction of domicile

• • Citizenship of the partners

Estate planning ensures that your partner will benefit from the estate. It also reduces estate taxes and avoids property court processes. Consider getting legal advice from an attorney when preparing for the inevitable.

Split Chores

Chores are one of the many aspects of running a household. Maintaining proper hygiene is done through various tasks, including cooking, cleaning, and organizing. Make it a habit to wash your hands before, during, and after handling food. Hand hygiene is essential to combating the spread of germs and viruses. The Centers for Disease Control and Prevention reported that contaminated hands transmit 80% of common infections. If soap and water are unavailable, use a hand sanitizer.

Designating tasks and establishing work hours is more likely to get the housework done. Alternatively, hire it out. There are many easy-to-use services online. Consider hiring domestic help. This will buy you more time to concentrate on other activities like work.

Living together presents its own challenges. But, splitting chores and bills will help avoid conflict. Also, giving directions for steps to be taken in case of death will cushion your loved ones from making them.