I have not 'lived in' with anyone yet and will do next year (after 6 yrs of relationship) coz am due to have a baby in 2008. We have decided to live in my house (my BF has his own place too which he will put into rental) , and am paying 2200 for the home mortgage. I don't know how to split the payment when we move in together....this is what I plan to suggest to him...
1. We will pay 50-50 on the mortage (1,100 each)
2) We will pay 50-50 for the babysitting (300 each)
3) We wiil pay 50-50 for all the house bills (cable, garbage, food, pge etc . Probably around 300 each
So he has to give me 1600/month (his share). I have not told him yet this.. do you think my split payment plan and amount given above fare enough? Am I asking that much money from him. Well, its not about money, but eventually we must discuss this in the future.. so I want to be ready with my suggestion. Pls advise.
2007-06-06 09:14:32 · 27 answers · asked by pinaytechie 2 in Family & Relationships ➔ Marriage & Divorce
FYI. We plan to get married end of next year - we are not in a rush. I just want to find out if this split payment looks FARE -- while we are still working on marriage. We will get there soon.
2007-06-06 09:22:44 · update #1
why not get married and have a joint checking account?
2007-06-06 09:18:18 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I would suggest if I were you, to have your ideas typed up all nice and neat when you propose your financial arrangement that way he knows exactly where his, as well as your, money will be going and he will have very little to no questions about the matter. The following should be included:
1. How much the fixed and variable bills are/ will be
2. How much you will be contributing to the household
3. How much he will be contributing to the household
To simplify this arrangement, why don't the two of you create a joint checking account to pay the household bills, that way he is not paying you, but contributing to the household expenses as an equal partner as you will be. And pay only the household bills or whatever you share jointly out of this account. Make him feel as though he is truly becoming a part of your life and not just a squatter there to pay you rent and to take care of you and your baby.
In regards to fairness, how do you plan on paying your 1/2 of the bills when you are on maternity leave and not making as much as you had previously? You may want to think about this for a while and have a plan before your approach your boyfriend. Because if you are to request the 50-50 plan, then more than likely he will inquire to how that is going to work.
If you are to have things exactly 50-50 as it sounds as you want it, that may be another awkward situation to arise in the future.
Also, please remember that money, and especially lack there of, can make even the nicest people seem insensitive.
My boyfriend and I have been together for six years and don't really worry about splitting our finances exactly 50-50. He takes care of me and I take care of him. Our incomes, as well as our lives, have become one and take care of each other as best we can. When it comes to finances, I believe if we were fanatic about mine and yours that we would not still together.
2007-06-06 10:32:54 · answer #2 · answered by J T 3 · 0⤊ 0⤋
It seems to me this is the way it should be. In fact it should be an unspoken understanding. If this is not the case or he does not say "that was my plan as well" I would suggest re-evaluating the relationship. Keeping things separate makes sense, whether you are married or not. Even if you have a single life that you share, this arrangement allows you to both maintain equal control over that life. Nothing will cause problems in a relationship faster than one person feeling they have little or no control over any part of the relationship. And no matter what kind of relationship it is, money is always going to be a major part of it.
2007-06-06 09:24:56 · answer #3 · answered by s1lvermidnight 3 · 0⤊ 0⤋
I don't think your figures are realistic....I think your plan is pretty good, however I think it would probably be best if you do it like this:
You go 50/50 on the mortgage
You pay the babysitter
and let him pay the house bills.
I think thats more fair....however, your babysitting figure is completely off....new borns can cost up to $200.00 a week for babysitting, depending where you go. Food, Cable, Garage, etc.....will definitely run you more than $400.00 a month....plus don't forget now that your having a baby...you guys are going to have to pay for formula and pampers....which is really expensive....which you probably didn't include in your formula.
2007-06-06 09:22:10 · answer #4 · answered by Rica 82 5 · 1⤊ 0⤋
It's fair, not fare. But your plan probably isn't fair. Is his name being put on your house? If not, this is basically you charging him rent. What about his house? Who's paying the mortgage? Who's getting the rent money? Who's paying homeowners insurance, medical insurance, child expenses?
Get married now, put everything in joint names, joint accounts. Do city hall now if that's all you can afford. Then renew your vows with the big wedding when you are ready.
2007-06-06 09:36:07 · answer #5 · answered by J M 4 · 0⤊ 0⤋
Hon, Of course it is fair ! Once you get married everything is 50/50 ! So this will be a trial run. As a man though I would want to pay it all. I am an old fashioned gentleman. Today is my birthday ! 6,6,60
2007-06-06 09:30:01 · answer #6 · answered by lonewolf 7 · 0⤊ 0⤋
No not a smart thing to do for your business operation or yourself as the owner of the business. The smart thing to do if you really want to do this would be to issue a1099 to each taxpayer for the 500 dollar amount so that you would not have any problem deducting the 1000 expense amount from your business operation because you can issue a 1099 for a lesser amount than the 600 amount if you choose to just to keep a good track of the amounts that are paid out and to whom they are paid. It would not be legal for the payer of the amount to the one taxpayer and then the amount that is owed and paid to the one taxpayer and then to issue a 1099 dividing the amount between 2 individual taxpayers. Where is the very good records receipt book that the taxpayer that is earning this income supposed to be at and showing the correct amounts of income for each taxpayer without the 1099 being issued at all.
2016-05-18 03:54:58 · answer #7 · answered by nola 3 · 0⤊ 0⤋
that's steep..1100 for the morgage? is gonna own part or a percentage of the house? you will be gaining equity in the house on his money. and he still has to pay his own morgage
if his house does not rent. and if it does, the he has to fork out the balance to cover his morgage..this part needs massaging a little. all other expenses and household bills go 50/50...
2007-06-06 09:22:56 · answer #8 · answered by Anonymous · 1⤊ 0⤋
I think that splitting equally is somewhat fair, but you might want to take your incomes into account, too. You guys aren't married yet, so it wouldn't be uncommon or out of place for him to disagree with your 50/50 split idea. Good luck.
2007-06-06 09:19:51 · answer #9 · answered by Luvitall 3 · 0⤊ 0⤋
What ever happened to meeting someone, getting married and THEN having a baby? Then you wouldn't have to worry about splitting the bills.
To answer your question, a 50/50 split is perfectly reasonable.
2007-06-06 09:18:57 · answer #10 · answered by retropink 5 · 3⤊ 0⤋
Get married. Trying to split the bills like this is only playing house
2007-06-06 11:43:44 · answer #11 · answered by Deep Thought 5 · 1⤊ 0⤋