Mutual Save & Split
On this page
- Why write it down
- What a money agreement can and cannot do
- The 10 sections to include
- 1. Housing costs
- 2. How you split shared bills
- 3. Deposits and move-in costs
- 4. Furniture and big purchases
- 5. Groceries, subscriptions and household supplies
- 6. Personal money
- 7. Savings and goals
- 8. Debt
- 9. Changes in income
- 10. Review and exit
- A sample one-page template
- How to have the conversation
- Keep the agreement alive
- Frequently asked questions
- Is a cohabitation money agreement legally binding?
- Do we need one if we are not married?
- What should we do if we cannot agree on a split?
- How often should we update it?
- Can we use this if one partner moves in later?
- The takeaway
Most couples who move in together agree on the big things out loud and leave the details unspoken. Then the first deposit, the first broken appliance or the first month with a lower income arrives, and each person remembers the conversation differently. A short written money agreement turns vague assumptions into shared rules.
Quick answer: A cohabitation money agreement is a plain-language document where both partners record who pays what, how shared costs are split, what happens with deposits and big purchases, and how often you will review it. It is not a legal contract by default. If you own property together, have significant assets or want something legally binding, speak to a qualified lawyer in your country. This guide is general information, not legal advice.
Why write it down
Talking is good, but writing has three advantages:
- It removes memory disputes. "I thought you were covering the internet" becomes a line you can check.
- It forces the awkward details. Deposits, furniture and exit plans rarely come up unless you list them.
- It makes changes easier. When income, jobs or housing change, you edit a document instead of reopening an argument.
Writing it also signals that you treat the topic as a shared project, not a test of trust. Our guide to talking to your partner about money without fighting can help you start the conversation.
What a money agreement can and cannot do
An informal agreement between partners is mainly a record of intent and a communication tool. Whether it is enforceable depends on where you live and how it is drafted. Rules differ widely between countries and regions, particularly for unmarried couples, property and shared debt.
Treat the document in this guide as a working agreement. If any of the following apply, get legal advice from a qualified professional:
- You are buying or co-owning a home (see how to split a mortgage with your partner).
- One of you is moving into a home the other owns, or has significant savings or debt.
- You have children, or plan to.
- You want the agreement to be legally binding.
The 10 sections to include
Use these headings as a template. Keep each section to a few sentences.
1. Housing costs
State the rent or mortgage amount, who is on the lease or title, and each person's share. If one of you already owns the home, read moving into your partner's home: should you pay rent? before you decide.
2. How you split shared bills
Choose a method: equal, income-based or a hybrid. List which bills are shared (rent, utilities, internet, groceries) and which are personal. If your incomes differ, see how to split rent fairly as a couple and splitting bills fairly by income.
3. Deposits and move-in costs
Record who paid the deposit and how it will be handled when you leave. For example: "The deposit was paid 60/40; if we move out, it is returned in the same proportion after deductions for damage we both agree on." Our first-month budget for moving in together helps you list the upfront costs.
4. Furniture and big purchases
Decide the threshold above which you must agree before buying, and who owns what if you separate. See how to split furniture costs with your partner for sample ownership rules.
5. Groceries, subscriptions and household supplies
Say what counts as shared and how you will track it. For subscriptions, our guide on how to split subscriptions with your partner helps.
6. Personal money
Agree that each person keeps a personal allowance and that no one needs to justify it. See fun money for couples for how much is fair.
7. Savings and goals
Write down any shared goals, such as an emergency fund or a trip, and how much each person contributes. Our guides to emergency funds for couples and shared savings goals show how to set the numbers.
8. Debt
List existing debts, who is responsible for each, and whether any shared money goes toward them. Be clear that one person's old debt does not automatically become shared unless you agree. See paying off debt as a couple.
9. Changes in income
Decide what happens if one of you loses income, reduces hours or takes leave. A rule such as "we revisit contributions within 30 days" is more useful than trying to predict every case. See splitting bills when one partner earns less.
10. Review and exit
Set a review date and a basic exit plan. Who stays in the home, how are shared items divided, and how are shared balances settled? Even a short note reduces stress if the relationship ends.
A sample one-page template
Copy and edit the wording below. The blanks are placeholders, not recommendations.
- Rent: ____ per month. Partner A pays ___%, Partner B pays ___%.
- Shared bills: utilities, internet, groceries and household supplies are split ___ / ___.
- Deposit: paid by ____ and ____ in the proportions ___ / ___.
- Purchases over ____: we agree before buying.
- Personal money: each of us keeps ____ per month with no questions asked.
- Savings: we save ____ per month toward ____.
- If income changes: we meet within ____ days to revisit contributions.
- Review: we revisit this agreement every ____ months, starting ____.
Add the date and both names at the top, and keep a copy each.
How to have the conversation
- Pick a calm time. Not during an argument, and not on moving day.
- Bring numbers. Take-home income, rent, expected bills and any debt.
- Draft together. One person types, both people agree on the wording.
- Test it for one month. Track what you actually spend, then adjust.
- Schedule a review. Put the date in both calendars.
A monthly check-in works well. Our couples money date agenda gives you a 60-minute structure.
Keep the agreement alive
An agreement only helps if you follow it. Track shared costs consistently, settle up on a regular date and update the document when something changes. Mutual can help you do that: you can track shared expenses, split costs by income, set savings goals together, plan a monthly budget, get bill reminders and see reports. It is available on the iOS App Store only.
Frequently asked questions
Is a cohabitation money agreement legally binding?
Not automatically. An informal written agreement is mainly evidence of what you both intended. Whether it can be enforced depends on your country, how it is drafted and what it covers. For anything involving property, children or significant assets, speak to a qualified lawyer.
Do we need one if we are not married?
It is useful for any couple sharing a home, because unmarried partners may have fewer default protections than married couples in some places. Check the rules where you live.
What should we do if we cannot agree on a split?
Try a different method, such as income-based instead of equal, or a hybrid with a joint account for shared bills. Our guide to whether couples should split bills 50/50 compares the options.
How often should we update it?
Review it after the first month, then every few months, and whenever income, housing or family plans change.
Can we use this if one partner moves in later?
Yes. Write down the date the new arrangement starts, who paid for what before then, and how you will treat existing furniture and deposits.
The takeaway
A cohabitation money agreement does not have to be long or formal. One page that covers housing, bills, deposits, personal money, savings, income changes and a review date is enough to prevent most disputes. Write it together, test it for a month and keep it up to date.
Hey guys im the CEO of Mutual save and split i hope you install the app and give it a chance to try it
