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For example my husband and i are both working and i make less but we're not sure how to divide up the expenses. up until now his was the only income

2007-05-21 08:10:15 · 8 answers · asked by JF 1 in Business & Finance Personal Finance

8 answers

All of the money should go into the pot. Don't think "he makes" or "she makes" think "we make". You all won't survive if you don't adopt the "we" mentality. Make a budget, pay all expenses from that combined pot. Have a percentage automatically deducted to be sent to your savings account. Decide on an allowance amount that can be automatically deducted and sent to your personal accounts. Be reasonable when deciding what this amount is. If he chooses for his to be higher than yours, don't be mad. But his amount shouldn't exceed the percentage of difference between your incomes. This method allows you both to have money to spend freely, but it also leaves an account with money to spend for expenses that don't occur every month...an argument avoided.

2007-05-21 08:33:07 · answer #1 · answered by thankutomyfans 2 · 1 0

There's no one answer - whatever you agree on is what you should do. Splitting things equally doesn't make much sense if one makes a lot more than the other. Having an account where you each put in an equal percent of your income, and paying the bills from there, is one way that can work. Or just putting all the income into one account, paying the bills from there, then deciding jointly how to spend (or save) whatever is left over. Another way would be for him to continue to pay the bills from his salary, but put a large part of your income into investments in your joint names - if you do this before you get used to the extra income, you could build up a nice nest egg for retirement.

The important thing isn't who pays what, it's that you talk about it up front and agree, so nobody feels cheated.

2007-05-21 08:48:41 · answer #2 · answered by Judy 7 · 0 0

Wow. I would just figure all the money you both makes belongs to both of you and 100% of the bills gets paid from that. You really need to sit down and create a budget. Once you have a budget then you will be able to see how much is left over after paying the bills then you can (together) make the choice on how much you save and how much you get to spend.

Once you are married all assets should be shared if you are not able to do so you marriage will not most likely work out. Marriage is intended to make the two become one.

2007-05-21 08:21:23 · answer #3 · answered by Curiam 3 · 1 0

ok maybe I am old fashion.....but you are husband and wife right? There should be no his/her money. It is both of yours. It should be put in the bank, pay the bills from a joint bank account and then both take so much per week depending on your budget after bills. What is his is yours. What is yours is his. I hope I did not offend you but even before my husband and I married, I lived with him for 3 years and even then we had joint accounts, whether it bank, credit cards, etc. We were living a married lifestyle so it wasn't difficult when we got married bcs everything was already set up and I just changed my name on all the accounts.

Good luck! :)

2007-05-21 08:24:04 · answer #4 · answered by Andrea D. 3 · 1 0

add your annual income and his, then figure out proportionally what each of you earn. for example, if you earn $20,000 a year and he earns $30,000 then you bring in 40 percent of the income and he makes 60 percent. So, you should pay 40 percent of expenses and he should pay 60 percent.

2007-05-21 14:31:02 · answer #5 · answered by njyogibear 7 · 0 0

Figure the ratio and split accordingly.

Example: Hubby brings in 60% you bring in 40%

split bills 60/40

2007-05-21 08:16:54 · answer #6 · answered by csucdartgirl 7 · 0 0

Split on bills down the middle...

2007-05-21 08:13:58 · answer #7 · answered by Mustbe 6 · 0 0

Take turns paying.

2007-05-21 08:19:15 · answer #8 · answered by Brian K 1 · 0 0

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