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I earned more than my partner. Will 50-50 on Bills be advisable or should I shoulder more percentage of the household expenses?
percentage of the household expenses?
Oftentimes, this question will be answered by a split 50/50 when it comes to household
expenses. There should be a joint bank account aside from respective personal accounts. Using
the 50/50 method means putting half of the respective earnings monthly into the family
account to cover household expenses such as rent, taxes, utility, insurance, kids' educations,
groceries, savings, and emergency expenses. With the growing rate of inflation, it is a must to
share the financial responsibilities.
While this is justifiable, being married means being equally responsible for financial duties.
However, circumstance such as one partner earning more than the other falls into a
debatable category. Let's take for example a household with monthly expenses of $7,000. A
husband earns $20,000 as a doctor and a wife earns $9,000 in freelancing. Splitting respective
incomes might come off as unwise and worse of all, might eventually cause a rift between
It is known factor that money is the number one cause of divorces in the US. In this type of
situation, if properly addressed, won't be a reason for unnecessary family drama. In
continuation of the above instances, a 50/50 will be highly unlikely. So, how then can this be
Simple. Split the bills in proportion to the earnings of each. Instead of cutting it in half, the new
method will be a 75/25. Simple math will give us $5,250 for the husband and $1,750 for the
wife which then equals the monthly expenses in the household.
With such a method for the big earner in the family, it is quite fair for everybody involved. The
The 75/25 method might appear staggering for the big earner. Nevertheless, considering where the
money will go and who will benefit, is truly worth it.
The discussion of financial matters should always be constant between couples to keep the
harmony going in the family. Whether 50/50, 60/40, or 75/25 method, it should be
communicated and agreed with.
For a proper split, the monthly financial expenses should be determined first. It must be laid
out when either of the couple takes out some loans for the family or something the like.
Secondly, there should be agreement on how it should be paid based on respective incomes,
and lastly, resolve immediately when there are disputes over the expenses such as
overspending than the intended budget for the month.
Financial responsibilities no longer fall solely to the husband's shoulders in this modern era.
Both couples should step up to equally and fairly split the bill payment. This keeps the family in
a perfect system of harmonious living. If properly maintained, the relationship will last and
happiness will abound.