Cupid's Pulse Article: Relationship Advice: Signs You & Your Partner are Living Beyond Your MeansCupid's Pulse Article: Relationship Advice: Signs You & Your Partner are Living Beyond Your Means

Living with your partner is a big step in your relationship that brings new issues to tackle together. Finances may not be the first thing on your mind when moving in together, but it can cause some serious rifts in your relationship. Both of you are responsible for contributing to your new household, but it can be hard to talk about finances with your partner for the first time. It’s even harder if you’re struggling with money, especially if one of you is being reckless with your spending.

If you’re unsure how to tell if you and your partner are living beyond your means, Cupid has some relationship advice for you:

1. Missing one paycheck would be devastating: Many Americans live paycheck to paycheck, but that doesn’t give you an excuse to be irresponsible with your money. If you and your partner missing one paycheck would be devastating to your finances, you might be spending more than you should to live comfortably.

2. You can’t pay off your credit card each month: Carrying a credit card balance from month to month is giving money away. You probably have a balance because you bought something you couldn’t afford to pay outright. Doing this continually can put you in debt (with accruing interest!) you’ll have a hard time escaping.

3. Your credit score is below 670: Credit scoring is based on a few factors, including the timeliness of your payments and the amount of your available credit in use. Late payments and using too much of your available credit (more than 30%) lowers your credit score. Most people rank between 670 and 850. If you’re at a 669 or lower, you’ll likely only qualify for poor credit loans with exorbitant interest rates if you need to borrow to cover an unexpected expense.

4. Saving 5% of your income is impossible: In an ideal world, we’d all be saving 20% of our paychecks. It’s more realistic to save at least 5% of your income each month. If you’re unable to save this much each month, it may be a sign you’re overspending. You and your partner should have a savings account to cover you in the event of a severe disruption to your income stream.

5. You’re paying overdraft fees: The only way one encounters an overdraft fee is to attempt to spend money you don’t have. Sometimes it’s an accident and you could’ve sworn you had more money in your account. If you make a habit out of this, it may mean you’re living beyond your means.

What are some ways you and your partner make sure you live within your budget? Start a conversation in the comments below!