My boyfriend earns £42k (takes home £2.5k p.month) and I earn £12k (take home £800 p.month). Our mortgage costs £1k per month and then there's the usual bills, etc.
How much do you guys think is a fair amount for me to give him each month from my wages to put towards the mortgage, bills and food shopping, etc?
If anyone can help us think of a logical way to split things, I would be really grateful!
xx Emmie
2007-11-15 21:52:39 · 8 answers · asked by Sparklepop 6 in Business & Finance ➔ Personal Finance
He earns 3x as much as you, so you could ask him to contribute 3x as much as you and then he'll have 3x as much as you left over.
2007-11-15 21:57:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Your total take-home pay is £3300 and you contribute about 25% of that. Therefore I would say you should contribute 25% to all expenditure.
The best way to do this is for you to sit down together and make a list of what your total expenses are for the month: shopping, utility bills, mortgage, council tax, insurance, petrol, etc. Once you have a total - e.g. £2800 then pay your boyfriend a fixed amout per month - £700 in this case. If there is any variation in expenditure he can pick up the slack.
Don't forget to include a contribution to a savings account for big one-off purchases such as washing machines etc. Also don't forget to pay your fair share for meals out or other non-regular expenditure.
This seems like a fair system to me - it is what I do with my girlfriend.
2007-11-16 11:09:09 · answer #2 · answered by Arimaa Player 2 · 1⤊ 0⤋
it depends whether you both agree to contribute equal amounts to bills etc and mortgage. if in the event that you split up, if you havent paid exactly half towards the house, then you might not get half of any equity, but you both might agree that if that happens, then you might get a share, rather than half.
i would say that you both have your own separate accounts tht your wages get paid into, then set up a household account where you both pay money into for bills and household things liek food, and thats where the money comes from to pay those things, ie direct debit for council tax, bills, mortgage and using that money for food.
however, the down side of you paying equal amounts means that out of your 800, you'll be left with very little for your own purposes, such as holidays, savings, clothes, trinkets etc.
or you could agree that because he earns 3x as much he pays 3x the amount you do, but it needs to be absolute agreement because it could lead to resentment
2007-11-16 06:14:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Just tell him that, he can pay the mortgage and during each month you will buy in the shopping and electric!
Or just sit and talk with him about it and work something out! You need to do it beofre you move in as you will end up arguing! Make sure its fair, you dont want anything coming back on you, like him saying, 'i pay for everything its my house!' Get what I mean!
2007-11-16 06:10:05 · answer #4 · answered by emzy 3 · 1⤊ 0⤋
if he loves you so much, he would ask you to take anything at all, because he makes a lot!
but....either case.... he pays the £1k of the mortgage and you pay the usual bills....
i think it would work!
2007-11-16 05:58:46 · answer #5 · answered by lil_star 2 · 0⤊ 0⤋
If you are not married all finances should be kept separate. In living together the bills should be split 50/50.
2007-11-16 05:58:47 · answer #6 · answered by Jaclyn&Dave 5 · 0⤊ 2⤋
being you earn so much less than your boyfriend i suggest
you give him 20-25%.
2007-11-16 06:16:07 · answer #7 · answered by Jerry S 7 · 0⤊ 0⤋
i believe that your overall contribution should reflect your salary against his, see what he thinks
2007-11-16 14:42:25 · answer #8 · answered by charlie29 2 · 0⤊ 0⤋