My boyfriend and I have been living together for 8 months and I agree on 50/50. But he thinks that it makes the relationship "cold" and we should be looking out for each other and not focus on "down the middle." I'm a recent grad and my money isn't overflowing and I don't expect for anybody to pay my way.
2007-10-02 02:54:24 · 7 answers · asked by missutusa 1 in Business & Finance ➔ Personal Finance
First off, living together before marriage can definitely cause financial problems when you're splitting bills 50/50. I'm not attacking your lifestyle. I did the exact same thing. I'm letting you know from personal experience that splitting the bills 50/50 is the best way if you're going to live together.
When you're married, this isn't even an issue. Both paychecks would go directly into the same account. There is no "his money" or "her money." It's just "our money." All money goes to one account and all bills paid from it.
The problem with paying your own bills is that it may be difficult to designate bills equally. You take the electric bill and he takes the cable and phone. It probably pays about the same, but it's not so big a deal if the phone bill doesn't get paid. You don't pay the electric, and you're plunged into the Dark Ages. You follow me?
I recommend the book by Dave Ramsey called The Total Money Makeover. It's actually changed my life! It may seem kind of radical, but it's totally worth it. Try listening to his radio show a bit before buying the book just to make sure it's for you, too.
www.DaveRamsey.com
2007-10-02 03:05:29 · answer #1 · answered by MacMooreno 2 · 1⤊ 0⤋
You need to do what works for the two of you. Communication is key.
One suggestion that I have heard about that seems most fair is to determine what the monthly expenses are and then divide them up according to income percentage. If you make 75% of the money, then pay 75% of the bills. If there is a large income disparity this can help both sides. The person with the larger income still has more discrectionary income. The person with the smaller income still pays a fair share, but isn't burdened by some of the lifestyle choices of the partner.
I hope that helped!
2007-10-02 11:39:37 · answer #2 · answered by Rush is a band 7 · 1⤊ 0⤋
Each couple should do what is right for them. In my relationship I already owned a home and was paying the bill so just set an amount to charge him to include utilities based on what he paid living alone and cut it in half. Now 21 years later have raised it a couple of times. He is getting a great deal but does some chores and I like having him around. I buy most food and things because I like to shop but he buys his own cell phone, truck, camper and other things.
2007-10-02 10:06:38 · answer #3 · answered by shipwreck 7 · 0⤊ 0⤋
You need to do whatever is going to make you comfortable.
If he is offering to pay more but you aren't comfortable with it then that's your right.
If he is asking you to bail him out then just let him know you can't afford to do that.
Stuff like this can cause a lot of tension in relationships so you really need to have a long sensible conversation and sort it out.
My partner and I put all of our money into the same account and just pay bills from there so there is no question of who pays what but we are married so that does make a difference to me.
Different things work for different couples, just don't be pressured into anything you don't want.
2007-10-02 10:07:50 · answer #4 · answered by Catnip 3 · 1⤊ 0⤋
I'm interested in this question because I'm about to move in with my fiance. My situation is complicated by the fact that his house is completely paid for, so the monthly bills are just things like utilities, insurance, taxes, food, and entertainment. Since it's his house, I don't want to pay the insurance or taxes. I'm currently thinking that I'll pay all of the utilities and half the food and entertainment. I hope that will be fair.
2007-10-02 10:11:29 · answer #5 · answered by Mooseles 3 · 0⤊ 0⤋
50/50 is great if you're both making the same money. My Wife and I don't make the same, she pays her proportionate share, I pay mine.
It really depends on what you're comfortable with. You should definitely spell this out as you're not married, you're only living together and if you don't spell it out, you'll both end up being upset about it later.
2007-10-02 10:00:24 · answer #6 · answered by Glennroid 5 · 1⤊ 0⤋
Money matters. Make a list of all the bills. Keep records. This is the BEST way!!
2007-10-02 09:58:46 · answer #7 · answered by Anonymous · 0⤊ 1⤋